Streetbeat News

Regulatory

SNTI

Senti Biosciences' stock is trading higher following the FDA's clearance of its IND application for SENTI-202, aimed at treating relapsed or refractory hematologic malignancies, including acute myeloid leukemia.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:32 pm

ANSS

BMY

GLD

IWM

KRTX

MRNA

NKE

UUP

The S&P 500 and Nasdaq 100 are aiming for their eighth consecutive week of gains, buoyed by a larger-than-expected drop in the Fed's preferred inflation gauge, the PCE price index. The iShares Russell 2000 ETF (IWM) outperformed large-cap indices, while the Invesco DB USD Index Bullish Fund ETF (UUP) and SPDR Gold Trust (GLD) remained steady. ANSYS, Inc. (ANSS) saw a surge in stock price due to potential sale news, while NIKE Inc. (NKE) shares fell after missing revenue estimates. Brystol Myers Squib (BMY) rose after announcing the acquisition of Karuna Therapeutics (KRTX), and Moderna Inc. (MRNA) continued its upward trend.

Portfolio Pulse from Piero Cingari

December 22, 2023 | 6:04 pm

BLK

BTCUSD

GBTC

BlackRock (NYSE:BLK) has filed with the SEC to launch a Bitcoin (CRYPTO: BTC) spot ETF, following a precedent of security-focused refilings by other firms. Grayscale Bitcoin Trust (GBTC) is also pushing for ETF conversion, with a court siding with them against the SEC. BlackRock's interest in Bitcoin ETFs is driven by the potential for democratizing investing, portfolio diversification, and revenue streams. The success of such ETFs could significantly impact Bitcoin's market cap and legitimize digital assets, as evidenced by a false tweet that temporarily spiked Bitcoin's price.

Portfolio Pulse from Robert Janeiro

December 22, 2023 | 6:03 pm

EWU

MSI

Motorola Solutions has expressed concerns about what it describes as 'unprecedented overreach' by the U.K. government, suggesting it could negatively affect long-term investments and contracting with the government.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 6:02 pm

ETHUSD

On Thursday, 8,781.29 Ether (ETH) valued at approximately $20.45 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -10.44% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

December 22, 2023 | 6:00 pm

EWU

MSI

The UK's Competition Appeal Tribunal has upheld the Competition and Markets Authority's (CMA) decision that Motorola excessively priced its communications network services for UK emergency services due to its monopoly position. This decision is a legal victory for the CMA in its efforts to challenge anti-competitive practices.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 5:59 pm

Micron Technology, Inc (NASDAQ: MU) stock is trading higher on Friday despite the U.S. announcing a survey for January 2024 to scrutinize the U.S. semiconductor supply chain. China remains a critical market for Micron, with the Chinese commerce minister inviting the company to expand its presence. Micron reported Q1 revenue of $4.73 billion, surpassing estimates, and provided strong Q2 guidance, citing the generative AI boom as a key driver. Analysts have raised price targets, and UBS analyst Timothy Arcuri has highlighted Micron as a top pick. The stock has risen 72% year-to-date.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 5:53 pm

GLD

IWM

QQQ

SPY

The Personal Consumption Expenditures (PCE) index inflation dropped to its lowest since March 2021, leading to market expectations of interest rate cuts in 2024. Economists are debating the Federal Reserve's next moves, with some cautioning against premature rate cuts due to robust GDP growth and low unemployment. The PCE report, along with mixed economic data, influenced the stock and bond markets, with slight increases in SPY, QQQ, and IWM, and a marginal rise in Treasury yields. The SPDR Gold Trust (GLD) also saw a 0.4% increase.

Portfolio Pulse from Piero Cingari

December 22, 2023 | 5:42 pm

AAPL

GOOG

GOOGL

NFLX

SPOT

Alphabet Inc's Google has agreed to pay $700 million to settle antitrust cases, including revamping its app store practices. Google lost a lawsuit to Epic Games, which accused it of operating an illegal monopoly. The settlement requires Google to allow developers to offer direct payment options and make it easier to download apps from sources other than the Play Store. Despite reduced fees for app creators, customers may not see lower prices. The trial revealed Google's preferential treatment to companies like Spotify and Netflix, and highlighted the need for regulation. Google faces further legal challenges regarding its search and digital ad practices.

Portfolio Pulse from Upwallstreet

December 22, 2023 | 5:14 pm

GBTC

The article discusses the potential impact of SEC approval of Bitcoin ETFs on the Grayscale Bitcoin Trust (GBTC). It challenges the 'buy the rumor, sell the news' adage, suggesting that approval could lead to increased demand from institutional investors and pension funds currently restricted from buying GBTC. The author anticipates a possible price increase due to the upcoming Bitcoin halving event, which will reduce new coin issuance, coupled with the expected surge in demand if ETFs are approved.

Portfolio Pulse from Gary Brode

December 22, 2023 | 4:36 pm