Streetbeat News

Regulatory

AEVA

Aeva Technologies Inc has filed a prospectus with the SEC, which pertains to the potential sale of 51.8 million shares of common stock by selling stockholders. The sales may occur from time to time, as per the filing.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 7:45 pm

BTCUSD

Bitwise CIO Matt Hougan expressed optimism about the anticipated approval of spot Bitcoin ETFs, which he believes will bring Bitcoin into the mainstream investment world. Hougan suggested that the ETFs could launch as early as Thursday, and emphasized the benefits of fee reductions for investors. He acknowledged the risks highlighted by SEC Chair Gary Gensler but noted that ETFs could offer a safer investment option. Hougan also sees Bitcoin as a potential global reserve asset and expects a surge of institutional investors post-ETF approval.

Portfolio Pulse from Murtuza Merchant

January 09, 2024 | 6:57 pm

ABNB

BKNG

EXPE

TRIP

BMO Capital Markets analyst Brian J. Pitz initiated coverage on several online travel stocks. Airbnb Inc (ABNB) received a Market Perform rating with a $134 price target, citing potential revenue risks from regulatory challenges. Booking Holdings Inc (BKNG) was rated Outperform with a $4,150 price target, with expectations of wallet share gains and benefits from the travel tailwind in 2024. Expedia Group Inc (EXPE) also received an Outperform rating and a $181 price target, with positive outlooks on its integrated tech stack and customer experience improvements. TripAdvisor Inc (TRIP) was given a Market Perform rating and a $20 price target, with potential for strategic M&A. BKNG and EXPE stocks were up, while ABNB and TRIP were down in the last check Tuesday.

Portfolio Pulse from Lekha Gupta

January 09, 2024 | 6:52 pm

BGNE

BeiGene's stock is trading higher following the announcement that the FDA has approved a label update for its cancer drug BRUKINSA. This regulatory milestone is likely to be viewed positively by investors as it may enhance the drug's marketability and potentially increase sales.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 6:23 pm

ETHUSD

On Monday, 5,068.77 Ether (ETH) valued at approximately $11.48 million was burned due to the EIP-1159 upgrade implemented on the Ethereum blockchain, which introduced a variable base fee for transactions that is permanently removed from circulation. This has led to a net annualized issuance rate of -4.30% for Ether, indicating a deflationary trend, especially with the anticipated Ethereum 2.0 upgrade that could further reduce the issuance rate to 0.5-1% per year.

Portfolio Pulse from Benzinga Insights

January 09, 2024 | 6:00 pm

VRTX

Vertex Pharmaceuticals Incorporated (NASDAQ: VRTX) has received approval from the Saudi Food and Drug Authority (SFDA) for CASGEVY, a CRISPR/Cas9 gene-edited therapy for sickle cell disease (SCD) and transfusion-dependent beta thalassemia (TDT). This marks the first SFDA Breakthrough Designation and approval through this pathway, as well as Vertex's first regulatory approval in Saudi Arabia. Vertex is working to expand access to CASGEVY in Saudi Arabia by qualifying additional hospitals as Authorized Treatment Centers and securing hospital formulary listings for reimbursement.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 5:44 pm

AAPL

IBM

INTC

META

QCOM

TSLA

TSM

Samsung Electronics topped the U.S. patent recipient list for 2023 with 6,165 patents, followed by Qualcomm, TSMC, and IBM. Apple, Micron, and Intel were also in the top 10, while Meta and Tesla were notably absent. The patent landscape shows growth in autonomous driving, electrical smoking devices, quantum computing, breathing masks, and nanotechnology. U.S. patents issued decreased by 3.4% in 2023, with U.S. companies securing nearly half of all patents. Japan and South Korea are also significant recipients, despite declines.

Portfolio Pulse from Surbhi Jain

January 09, 2024 | 5:40 pm

FXI

ILMN

An executive from Illumina has indicated that the company's business operations in China are expected to face challenges throughout 2024, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 5:35 pm

BTCUSD

SEC Chair Gary Gensler and Lori Schock warn investors about the risks of crypto assets, emphasizing the lack of regulatory oversight, potential for fraud, and the dangers of celebrity endorsements. Despite the crypto community's criticism and anticipation of a spot Bitcoin ETF, the SEC urges caution and responsible investing.

Portfolio Pulse from Murtuza Merchant

January 09, 2024 | 5:34 pm

USO

The U.S. Energy Information Administration forecasts that OPEC+ will increase crude oil production by 700,000 barrels per day in 2025 as current output cuts expire, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 5:31 pm