Streetbeat News

Regulatory

VEXTF

Vext Science, Inc. has reached agreements with debenture holders to convert $4.6 million of debt into 27,700,625 common shares at $0.175 each. The conversion is subject to regulatory approval and will release all security held by the debenture holders. Sopica Special Opportunities Fund Limited, an insider shareholder, is participating, making this a related party transaction. VEXTF's stock rose 9% to $0.218 after the announcement.

Portfolio Pulse from Jelena Martinovic

December 28, 2023 | 3:57 pm

CAKE-USD

PancakeSwap, a decentralized exchange, has proposed to reduce the supply of its native token, CAKE, from 750 million to 450 million. The reduction aims to transition from a high-inflation model to a deflationary framework. The community vote on this proposal was scheduled for Dec. 28, 2023. The reduction is part of PancakeSwap's strategy to provide certainty, achieve 'ultrasound CAKE,' and support future growth. The circulating supply of CAKE is currently 388 million, and if approved, the supply cut will be implemented by Jan. 4, 2024.

Portfolio Pulse from Murtuza Merchant

December 28, 2023 | 3:51 pm

SPY

USO

VGK

The U.S. Department of the Treasury's OFAC has designated individuals and entities for facilitating Iranian financial support to Houthi forces, impacting international shipping. The sanctions target a network including exchange houses in Yemen and Türkiye, aiming to disrupt the flow of funds to the Houthis. The actions are based on Executive Order 13224, which focuses on counterterrorism efforts. Sanctioned parties' assets in the U.S. are blocked, and U.S. persons are generally prohibited from dealing with them.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:49 pm

NRBO

NeuroBo Pharmaceuticals' stock is trading higher following the submission of an IND application to the FDA for a Phase 1 trial of its obesity treatment, DA-1726.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:43 pm

NRBO

NeuroBo Pharmaceuticals' stock is trading higher following the submission of an IND application to the FDA for a Phase 1 trial of its obesity treatment, DA-1726.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:42 pm

AAPL

ADDDF

MCD

SBUX

Adidas and Apple are considering shifting manufacturing away from China due to security concerns and strained US-China relations. Meanwhile, McDonald's and Starbucks are expanding their presence in China, with McDonald's planning to open 3,500 new stores and Starbucks investing $220 million in a facility. Despite overall foreign investment decline in China, American fast-food chains see the large market as an opportunity. The US government continues to encourage companies to reduce reliance on China for critical materials and high-tech products.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:35 pm

NBBK

Trading for the IPO security NBBK was halted but has now resumed as of 10:35 AM ET.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:35 pm

NVDA

NVIDIA has launched the GeForce RTX 4090 D GPU in China, featuring similar performance to the RTX 4090 but with reduced core specs to comply with US export rules. The card, aimed at gamers, has 14,592 CUDA cores, a 2520 MHz boost clock, 24 GB GDDR6X memory, and a 425W TGP. It will not support overclocking and is priced at $1599 USD. Major Chinese vendors like MSI, GALAX, and ZOTAC are releasing custom models. The RTX 4090 D offers significant performance improvements over the RTX 3090 Ti and is more energy-efficient than previous generations.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:28 pm

MBOT

Microbot Medical Inc (NASDAQ:MBOT) shares surged after announcing the completion of its GLP pivotal pre-clinical study, meeting all objectives. The successful study of the LIBERTY Endovascular Robotic Surgical System under FDA guidelines has paved the way for human clinical studies, with an IDE application to the FDA forthcoming. The stock's rise is also attributed to trending on social platforms and possible retail trading activity.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 3:19 pm

CING

Cingulate Inc. shares have risen following the announcement that the company received guidance from the FDA on its CTx-1301 clinical program. The company anticipates submitting the New Drug Application (NDA) for CTx-1301 in the first half of 2025.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:18 pm