Streetbeat News

Regulatory

PWUP

Trading for PWUP has been halted at 7:55 a.m. ET due to pending news. The halt is in place to manage market orderliness and investor protection pending the release of material news.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 12:55 pm

PWUPW

Trading on the stock PWUPW has been halted at 7:55 a.m. ET due to pending news. The halt is in place to manage market orderliness and investor protection pending the release of material news.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 12:55 pm

BYDDF

Chinese electric vehicle company BYD (OTC:BYDDF), backed by Warren Buffett, has received a conditional license for level 3 autonomous driving tests on high-speed roads. This is the second such license BYD has obtained, with the first one received in China in July. The company has recently achieved significant milestones, including producing 6 million new energy vehicles and launching the electric SUV Song L, which competes with Tesla's Model Y. BYD's advancements position it as a strong competitor to Tesla in the global electric vehicle market.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 12:46 pm

SQ

The cannabis industry saw significant milestones in 2023, including Ohio legalizing recreational marijuana and President Biden pardoning cannabis possession convicts. A lawsuit against U.S. Attorney General Merrick Garland by cannabis operators challenges the Controlled Substances Act's enforcement. Jane Technologies partnered with Square (NYSE:SQ) for online cannabis dispensary services. The industry faces capital challenges due to lack of federal legalization, affecting liquidity and innovation. 24 states have enacted record clearance laws, and 10 have resentencing laws for cannabis offenses.

Portfolio Pulse from Nina Zdinjak

December 27, 2023 | 12:46 pm

ZVRA

Zevra Therapeutics has resubmitted its New Drug Application (NDA) for Arimoclomol, a treatment for Niemann-Pick disease type C, to the FDA. The company anticipates that the application will be considered a Class II submission, which would lead to a six-month review period by the FDA.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 12:33 pm

BWEN

Broadwind (NASDAQ:BWEN) has reached a definitive agreement to sell about $15 million of Advanced Manufacturing Production Credits from the Inflation Reduction Act to MarketAxess Holdings Inc. The sale is subject to discounts, transaction fees, and related expenses.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 12:01 pm

ALT

BITF

BTBT

BUR

CHRS

CIFR

HIVE

WULF

Coherus BioSciences, Inc. (NASDAQ:CHRS) shares surged 34.8% in pre-market trading after the FDA approved UDENYCA ONBODY for pegfilgrastim-cbqv. Other stocks showing pre-market gains include Burford Capital Limited (NYSE:BUR), TeraWulf Inc. (NASDAQ:WULF), Bitfarms Ltd. (NASDAQ:BITF), Bit Digital, Inc. (NASDAQ:BTBT), HIVE Digital Technologies Ltd. (NASDAQ:HIVE), Cipher Mining Inc. (NASDAQ:CIFR), and Altimmune, Inc. (NASDAQ:ALT). U.S. stock futures were slightly lower, with Dow Jones futures down about 5 points.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 11:08 am

BMWYY

BYDDY

MBGAF

BYD Company has received a conditional testing license for Level 3 autonomous driving on high-speed roads in China, marking progress in the EV maker's autonomous technology. This is the first such license granted in China since BYD's initial award in July. The development reflects the increasing competition among automakers in China's autonomous driving space, with BMW and Mercedes Benz also pursuing similar advancements. BYD's stock (OTC:BYDDY) closed higher by 1.27% at $53.38 following the news.

Portfolio Pulse from Shivani Kumaresan

December 27, 2023 | 10:57 am

AAPL

Apple Inc. (NASDAQ:AAPL) is reportedly developing an enhanced MagSafe technology that could support data transmission and user authentication. A patent application suggests Apple is addressing the current MagSafe system's heat trap issue by enabling iPhones to identify and differentiate between MagSafe accessories. This technology could adjust charging based on temperature and allow accessories to communicate data and function as keys. The development aligns with rumors of MagSafe charging in the 2024 iPad Pro and Apple's ongoing focus on MagSafe improvements.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 10:34 am

META

MSFT

Yann LeCun, Meta Platforms Inc.'s chief AI scientist, criticized OpenAI for its lack of transparency in research, suggesting the research world is losing interest in the company. He highlighted the instability caused by recent events at OpenAI, including the temporary ousting of co-founder Sam Altman. Despite this, OpenAI is reportedly in talks to raise funds at a $100 billion valuation. LeCun contrasted OpenAI's approach with Meta's open-source Llama 2 model, aligning with his belief in keeping AI research open and secure.

Portfolio Pulse from Rounak Jain

December 27, 2023 | 10:09 am