Streetbeat News

Regulatory

AMZN

IRBT

iRobot Corporation (NASDAQ:IRBT) stock is trading higher after a significant drop on Wednesday due to concerns over Amazon.com, Inc.'s (NASDAQ:AMZN) acquisition deal. Amazon missed a deadline to submit concessions to the European Commission regarding its proposed $1.7 billion acquisition of iRobot, casting doubt on the deal's completion. Despite Thursday's gains, iRobot shares have fallen 19% over the past month, with a high short interest of 14.18%. Trading volume for iRobot is also notably higher than its 100-day average.

Portfolio Pulse from Erica Kollmann

January 11, 2024 | 4:08 pm

LLY

NVO

PFE

The FDA is currently assessing reports of suicidal thoughts or actions in patients using GLP-1 receptor agonists, a class of medications for diabetes and obesity. Their preliminary evaluation has not established a causal link between the use of these medicines and the onset of suicidal thoughts.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 4:08 pm

BTCUSD

The U.S. SEC's approval of 11 Spot Bitcoin ETFs has propelled Bitcoin's price over $48,000, with a peak at $49,012. Trading volumes surged, with Spot ETFs trading $2.3 billion in 20 minutes and OTC Bitcoin volume hitting $7.7 billion. Bitcoin's market cap now surpasses Tesla, Facebook, and Berkshire Hathaway. This surge coincides with U.S. CPI data for December 2023 rising to 3.4%, above the expected 3.2%.

Portfolio Pulse from Khyathi Dalal

January 11, 2024 | 4:02 pm

ARKB

BITB

BRRR

BTCO

BTCW

DEFI

EZBC

FBTC

GBTC

HODL

IBIT

The SEC has approved 11 Bitcoin ETFs for trading, leading to a surge in Bitcoin's price and a strong start for the ETFs on their first trading day. Despite expectations of a sell-off following the approval, the crypto market continues to trend higher. The ETFs, including ARKB, BITB, IBIT, FBTC, EZBC, GBTC, DEFI, BTCO, BRRR, HODL, and BTCW, all showed positive early price action.

Portfolio Pulse from Adam Eckert

January 11, 2024 | 3:58 pm

TSLA

Tesla has filed two U.S. patent applications for an inductor windings forming apparatus and a method of manufacturing, as well as for a stacked component array structure. These patents could indicate Tesla's ongoing efforts to innovate in the manufacturing process of its electric vehicles or energy products.

Portfolio Pulse from Charles Gross

January 11, 2024 | 3:58 pm

AMD

INTC

MSFT

NVDA

TSM

Nvidia continues to lead the AI chip market, unveiling new GPUs at CES, while AMD and Intel focus on AI PCs with dedicated NPUs. Nvidia's high-end chips face U.S. export restrictions to China, but new models are exempt. Intel introduced an AI chip for cars, and both AMD and Intel are preparing to challenge Nvidia's dominance with their upcoming AI accelerators. Nvidia's stock outperformed AMD and Intel last year, and all three companies are positioning themselves in the growing AI market.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 3:54 pm

FMST

TMST

USAU

U.S. Gold Corp. (USAU) provided an update on its CK Gold Project, expecting permit approval and feasibility study completion in H1 2024, with the project being shovel-ready in H2 2024. The company anticipates environmental and economic benefits for Wyoming, and sees unrecognized asset value in Nevada and Idaho, with a positive market outlook for copper and gold. TimkenSteel (TMST) announced a rebranding to Metallus Inc., reflecting its growth commitment and vision for the future in the high-performance metals industry. Foremost Lithium (FMST) received a multi-year work permit for its Jean Lake Lithium/Gold Project, allowing for streamlined exploration and a 15-hole drilling program, aiming to advance resource development and enhance shareholder value.

Portfolio Pulse from Austin DeNoce

January 11, 2024 | 3:54 pm

OVID

Ovid Therapeutics has filed a U.S. patent application (#20240009160) for the use of a specific compound, (S)-3-amino-4-(difluoromethylenyl)cyclopent-1-ene-1-carboxylic acid, in the treatment of cancer. This filing could indicate the company's progress in developing new cancer treatments.

Portfolio Pulse from Charles Gross

January 11, 2024 | 3:50 pm

ARAV

Aravive, Inc. has filed a U.S. patent application for methods of treating metastatic cancers using AXL decoy receptors. The patent application number is 20240009271. This could potentially enhance Aravive's intellectual property portfolio and strengthen its position in cancer treatment research.

Portfolio Pulse from Charles Gross

January 11, 2024 | 3:39 pm

AAPL

MSFT

NVDA

Microsoft Corporation (MSFT) has surpassed Apple Inc (AAPL) to become the world's most valuable public company, with a market capitalization of $2.86 trillion. Microsoft's growth has been fueled by its investments in artificial intelligence and strong earnings, with a 13% revenue increase year-over-year in Q1. Apple, now valued at $2.85 trillion, has seen its shares struggle recently due to concerns over iPhone 15 demand and potential issues in China. NVIDIA Corporation (NVDA) also reached a $1 trillion market cap, driven by its AI sector performance.

Portfolio Pulse from Chris Katje

January 11, 2024 | 3:35 pm