Streetbeat News

Regulatory

LIXT

Lixte Biotechnology has been granted a U.S. patent (#11866444) for oxabicycloheptane prodrugs. This patent strengthens the company's intellectual property portfolio and could potentially enhance its market position by protecting its novel drug developments. The patent grant is a positive development for Lixte Biotechnology, as it may provide a competitive edge in the biotech industry and could lead to partnerships or licensing deals in the future.

Portfolio Pulse from Charles Gross

January 09, 2024 | 10:36 am

GRFS

Grifols has responded to allegations made by Gotham City Research about the company's accounting and financial disclosure practices, categorically denying any wrongdoing. Grifols emphasizes its commitment to transparency and ethical conduct, stating that all significant transactions are fully disclosed and audited by a big-four firm, which has consistently issued unqualified audit reports.

Portfolio Pulse from Charles Gross

January 09, 2024 | 10:27 am

EWT

FXI

SPY

Taiwan's Defense Ministry issued an apology for a false emergency alert sent to cellphones, which mistakenly identified a Chinese satellite launch as a missile flyover in Taiwan's airspace.

Portfolio Pulse from Charles Gross

January 09, 2024 | 10:17 am

VGK

The Eurozone unemployment rate for November came in at 6.4%, which is lower than the estimated 6.5% and also below the prior rate of 6.5%.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 10:01 am

C

HSBC

JPM

SCBFF

Saudi Arabia has issued $12 billion in debt, its largest foreign borrowing since 2017, contributing to the $25 billion of bonds issued by developing countries this year. The move aims to cover more than half of the nation's fiscal deficit for the year. Citigroup Inc. (C), JPMorgan Chase & Co. (JPM), HSBC Holdings Plc (HSBC), and Standard Chartered Plc (SCBFF) were the main banks handling the sale. Despite this borrowing, Saudi Arabia's total funding requirements are only partially met, but the country's debt stock remains low, allowing for further capital raising. Additionally, Saudi Arabia has cut oil prices significantly, impacting crude oil markets.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 8:58 am

META

NVDA

Goldman Sachs analyst Peter Oppenheimer predicts a new economic 'super cycle' driven by AI and decarbonization. The cycle differs from the one that began in the 1980s, as it won't rely on declining interest rates or globalization. AI's influence on productivity and decarbonization efforts are seen as new growth drivers. Last year, AI advancements led to significant gains for companies like Nvidia and Meta. Despite a rocky start to 2024, Wall Street is optimistic about AI's market impact. Decarbonization is also expected to stimulate economic growth as economies modernize in response to climate change. Goldman Sachs refuted AI bubble fears in 2023, projecting AI investment to reach $200 billion globally by 2025.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 8:28 am

BTCUSD

ETHUSD

Crypto influencer Ben Armstrong is heading to Washington D.C. to push for the approval of a Bitcoin ETF, a feat not yet achieved by industry leaders. He also plans to seek approval for an Ethereum ETF by mid-Q2 or end of Q1. Bitcoin's price surged past $47,000, a high since April 2022, amid the excitement over the potential ETF approval. Armstrong's relationship with BitBoy Crypto, which he founded, has been strained, and he was involved in a controversial incident in September.

Portfolio Pulse from Mehab Qureshi

January 09, 2024 | 8:11 am

ABBV

AbbVie has launched PRODUODOPA, a treatment for advanced Parkinson's disease, in the European Union. PRODUODOPA is unique as it is the only subcutaneous 24-hour infusion of levodopa-based therapy designed to manage severe motor fluctuations in patients whose symptoms are not adequately controlled by other treatments.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 7:02 am

NRAC

The proposed merger between Northern Revival Acquisition Corporation (NRAC) and Braiin Limited has moved forward with the filing of registration with the SEC. This step is crucial for the merger to proceed, indicating progress in the acquisition process.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 7:01 am

BTCUSD

Jim Cramer, host of CNBC's 'Mad Money', expressed skepticism about Bitcoin's recent price surge, suggesting it may be 'topping out' as the market anticipates a potential spot Bitcoin ETF approval. He advised investors to buy Bitcoin directly if they are interested in the cryptocurrency, rather than investing in related stocks or ETFs. Cramer has previously sold most of his Bitcoin holdings and has been critical of the SEC's regulatory approach to cryptocurrencies.

Portfolio Pulse from Mehab Qureshi

January 09, 2024 | 6:56 am