Streetbeat News

Regulatory

VRNOF

Alabama's medical marijuana industry faces delays as Judge James Anderson issues a temporary restraining order halting the issuance of dispensary licenses due to a legal battle involving Yellowhammer Medical Dispensaries, LLC, Pure by Sirmon Farms, LLC, and Alabama Always, LLC against the Alabama Medical Cannabis Commission (AMCC). The AMCC is accused of not following its own guidelines in the licensing process. The commission is limited to four dispensary licenses, each with the potential to operate three dispensaries. Other licenses for cultivators, processors, transporters, and testing labs are unaffected. Verano Holdings Corp. (VRNOF) was among the companies that filed lawsuits against the commission in 2023.

Portfolio Pulse from Jelena Martinovic

January 02, 2024 | 4:33 pm

AMD

ASML

NVDA

SOXX

U.S. semiconductor stocks have experienced a significant drop, with the top 25 U.S.-traded semiconductor companies losing nearly $100 billion in market value. This decline is attributed to escalating U.S.-China trade tensions, particularly after the White House directed a European chipmaker to halt shipments to China. Companies like NVIDIA and AMD saw declines of 4% and over 5%, respectively. ASML Holdings complied with the U.S. directive, causing its shares to fall by 4.3%. Despite this, ASML does not expect a significant impact on its 2023 financial outlook. The sector had a strong performance in 2023, but faces challenges at the start of 2024.

Portfolio Pulse from Piero Cingari

January 02, 2024 | 4:09 pm

CDIO

Cardio Diagnostics' stock is up following the announcement that the American Medical Association has assigned a dedicated CPT PLA code, 0440U, for its PrecisionCHD product.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 4:03 pm

SASI

Sigma Additive Solutions has been granted U.S. Patent #11858207, which covers defect detection technology for additive manufacturing systems. This patent strengthens Sigma's intellectual property portfolio and enhances its position in the additive manufacturing industry, potentially leading to increased market share and revenue through licensing or enhanced product offerings.

Portfolio Pulse from Charles Gross

January 02, 2024 | 3:48 pm

AUR

AUROW

Aurora Innovation has filed a prospectus for a mixed securities shelf offering with an aggregate offering price not to exceed $850 million. The offering includes Class A Common Stock, Preferred Stock, Debt Securities, Depositary Shares, Warrants, Subscription Rights, Purchase Contracts, and Units. The securities may be sold through various channels and the specific terms will be provided in prospectus supplements. Aurora's Class A common stock and public warrants are listed on Nasdaq under the symbols 'AUR' and 'AUROW' respectively. As an emerging growth company, Aurora may opt for reduced public company reporting requirements.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 3:45 pm

MDXG

MiMedx shares dropped following the announcement of a Warning Letter from the FDA regarding AXIOFILL. Despite this, the company reaffirmed its 2023 full year net sales growth and fourth quarter adjusted EBITDA margin outlook.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 3:38 pm

MSFT

Microsoft's President, Brad Smith, praised the UK's Competition and Markets Authority (CMA) for its fair approach in approving the Activision Blizzard deal after initial resistance. The CMA had concerns about Microsoft gaining an unfair advantage in cloud gaming, leading to the deal being blocked in April 2023. Microsoft restructured the deal, including selling game streaming rights of 'Call of Duty' to Ubisoft, and received approval in October 2023. The FTC in the US is still challenging the deal.

Portfolio Pulse from Rounak Jain

January 02, 2024 | 3:32 pm

BLK

BTCUSD

Bitcoin has surpassed $45,000, prompting asset management firms to update their submissions to the SEC for spot Bitcoin ETFs. Firms like BlackRock Inc (BLK), VanEck, Valkyrie, Bitwise, Invesco, Fidelity, WisdomTree, Ark Investments, and 21Shares are preparing for a potential Jan. 10 launch date. The SEC's approval is seen as a catalyst for Bitcoin's price increase. Valkyrie and Ark/21Shares propose a 0.80% fee, while Fidelity plans for a lower 0.39% fee. Invesco has announced a fee waiver for six months on the first $5 billion in assets. Grayscale and Hashdex also aim to convert existing products into spot Bitcoin ETFs.

Portfolio Pulse from Murtuza Merchant

January 02, 2024 | 3:14 pm

SNGX

Soligenix Inc (NASDAQ:SNGX) stock surged after announcing a publication on the preclinical efficacy of its novel bivalent vaccine, which showed 100% protection against SUDV and MARV infections. The vaccine is stable at high temperatures and there are currently no approved vaccines or therapeutics for these infections. The company's IND application for SGX945 was also cleared by the FDA for a Phase 2a clinical trial. SNGX shares rose 33.20% to $1.01.

Portfolio Pulse from Vandana Singh

January 02, 2024 | 3:05 pm

ASML

SPY

TSLA

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin have seen a spike in value on the first day of 2024, with Bitcoin crossing $45K. US markets are bullish with the S&P 500 surging 24% in 2023 and tech stocks predicted to rise 25% in 2024. US office buildings face a $117B debt cliff due to interest rates. Tesla shares have a lackluster start in 2024, and the company is set to report Q4 deliveries. Danone sells its U.S. organic dairy business, and Reckitt's Mead Johnson recalls baby formula. ASML halts exports to China, and US politics and world politics see significant developments.

Portfolio Pulse from Akanksha Bakshi

January 02, 2024 | 2:12 pm