Streetbeat News

Regulatory

CRLBF

GNLN

Weldon Angelos, once imprisoned for nonviolent drug offenses, has significantly influenced drug legislation and received a pardon from President Trump in 2020. Post-release, he founded The Weldon Project in LA, supported by companies like Kush Co. (OTC:GNLN) and Cresco (OTC:CRLBF). Angelos advocates for cannabis law reform, clemency for cannabis offenses, and the reduction of federal sentencing guidelines for marijuana offenses. His efforts include working with the Biden administration and organizing symposiums to establish criteria for commuting sentences.

Portfolio Pulse from Nicolás Jose Rodriguez

January 25, 2024 | 8:16 pm

EQNR

Equinor (NYSE:EQNR) has agreed to a swap transaction with bp, gaining full ownership of the Empire Wind lease and projects, and taking over bp's 50% share of the South Brooklyn Marine Terminal lease. In exchange, bp will take full ownership of the Beacon Wind lease and projects. The deal is cash neutral, except for standard settlements. Equinor submitted a bid for Empire Wind 1 in New York's offshore wind solicitation and terminated the OREC agreement for Beacon Wind 1. The transaction will increase Equinor's near-term capital expenditure by approximately $1.2 billion in 2024 and $1.5 billion in 2025, and is expected to result in a reported loss of around $200 million, pending regulatory approval and a positive NY4 solicitation outcome.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 8:05 pm

HLN

Haleon PLC (NYSE:HLN) has announced a recall of certain lots of its Robitussin cough syrups due to microbial contamination, which could be life-threatening for immunocompromised individuals. The recall affects nearly 10 lots of Robitussin Honey CF Max Day Adult and Honey CF Max Nighttime Adult. No adverse reactions have been reported. Despite the recall, Haleon's stock was trading higher, although it has underperformed the market over the last year.

Portfolio Pulse from Aaron Bry

January 25, 2024 | 8:04 pm

GBTC

The SEC has postponed its decision on Grayscale's proposal for a spot Ethereum ETF, originally submitted by NYSE Arca on Oct. 10, 2023. The Grayscale Ethereum Trust aims to reflect the value of Ethereum, and the SEC is seeking public input on the proposal's compliance with the Securities Exchange Act of 1934. The SEC is concerned with potential fraudulent and manipulative acts, investor protection, and the correlation between Ethereum spot and futures markets. Public comments are invited within 21 days of the proposal's Federal Register publication, with an additional 35 days for rebuttals. Bloomberg analyst James Seyffart anticipates sporadic delays for spot Ethereum ETFs in the coming months, with the next significant date being May 23rd.

Portfolio Pulse from Murtuza Merchant

January 25, 2024 | 8:04 pm

AAPL

SPOT

UMGNF

Spotify Technology SA (SPOT) is optimistic about the European Union's Digital Markets Act (DMA), which will allow it to share details about deals and payment options within the EU. The DMA, effective March 7, challenges Apple Inc's (AAPL) control in various digital markets. Spotify plans to introduce 'superfan clubs' and other features to enhance user and creator experiences. Universal Music Group NV (UMGNF) is also interested in creating 'superfan experiences.' Apple may respond to the DMA with new fees and restrictions, which could lead to further disputes with Spotify.

Portfolio Pulse from Franca Quarneti

January 25, 2024 | 7:44 pm

AAPL

MTCH

RBLX

SPOT

Apple Inc (AAPL) is overhauling its App Store in Europe to comply with the EU's Digital Markets Act, set to take effect on March 7. The changes will allow alternative app stores and payment methods, and introduce a new menu for browsers. This has caused shares of companies like Roblox (RBLX), Spotify (SPOT), and Match Group (MTCH) to rise, while Apple's shares fell by about 1%.

Portfolio Pulse from Adam Eckert

January 25, 2024 | 7:35 pm

REGN

Regeneron Pharmaceuticals has announced that the FDA has approved Dupixent for use in children aged 1 year and older with Eosinophilic Esophagitis, a chronic immune system disease. This approval could potentially expand the patient base for Dupixent, which is already used to treat several other allergic inflammatory diseases.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 7:30 pm

BTCUSD

The U.S. District Court for the District of Maryland plans to sell $132.5 million in Bitcoin seized in connection with the Silk Road scam. The Bitcoin was confiscated from Ryan Farace and Sean Bridges in two separate seizures. Interested parties have 60 days from Jan. 10, 2024, to file a claim for the property, after which the U.S. government may proceed with the sale.

Portfolio Pulse from Murtuza Merchant

January 25, 2024 | 7:29 pm

AMZN

GOOG

MSFT

The FTC is investigating generative AI investments and partnerships involving Alphabet (GOOG), Amazon (AMZN), Microsoft (MSFT), Anthropic PBC, and OpenAI to assess their impact on competition. The inquiry focuses on the relationships between major tech companies and AI firms, with the FTC requiring information on these collaborations to ensure they don't undermine fair competition or innovation.

Portfolio Pulse from Erica Kollmann

January 25, 2024 | 7:17 pm

OCUL

Ocular Therapeutix's stock price has risen following the announcement that the FDA has agreed to a Special Protocol Assessment Agreement Modification for its Phase 3 SOL clinical trial of AXPAXLI in wet AMD.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:49 pm