Streetbeat News

Regulatory

BFLY

Butterfly Network's stock is trading higher following the announcement of FDA clearance for its new handheld ultrasound system, Butterfly iQ3.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:01 pm

SMX

Security Matters is set to be granted U.S. Patent Number 11,867,645, titled 'System And Method For Detection And Identification Of Foreign Elements In A Substance By X-Ray Or Gamma-Ray Detection And Emission'. The patent issuance will occur tomorrow.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:38 pm

AMAM

DTC

HARP

LMDX

RXST

RxSight, Inc. (RXST) shares surged by 20% after providing FY23 and FY24 revenue guidance above estimates and following a price target increase by Needham. Other stocks experienced significant movement, with Harpoon Therapeutics, Inc. (HARP) and Ambrx Biopharma Inc. (AMAM) seeing major gains due to acquisition announcements. Conversely, LumiraDx Limited (LMDX) and Solo Brands, Inc. (DTC) faced steep declines, with LumiraDx facing Nasdaq suspension and Solo Brands lowering its full year 2023 revenue guidance.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 6:36 pm

LMDX

LumiraDx shares are trading lower following the announcement that its securities will be suspended from trading on Nasdaq starting tomorrow.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:34 pm

SPY

The top Pentagon spokesman has stated that U.S. Defense Secretary Lloyd Austin has not offered his resignation and has no plans to resign, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:24 pm

NAK

The U.S. Supreme Court has declined to review Alaska's petition challenging the EPA's veto of the Pebble Project, a mining initiative by Northern Dynasty Minerals Ltd. The company's CEO expressed disappointment but noted that the decision does not reflect on the state's arguments. Northern Dynasty maintains that the EPA overstepped its authority and is considering further legal action to advance the project, emphasizing its potential benefits for Alaska and the U.S. in terms of jobs, economic growth, and critical mineral supply.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:17 pm

AMD

DIA

IWM

NVDA

OIH

QQQ

SMH

SPY

TLT

XLK

XLRE

XOP

US stocks saw a rebound with the Nasdaq 100 and small-cap stocks leading the gains, while the Dow Jones was weighed down by Boeing's struggles. Semiconductor stocks like NVIDIA and AMD posted significant gains. The 10-year Treasury Note yield fell, and energy commodity prices dropped. Bonds recovered, and the U.S. dollar depreciated. Bitcoin rose above $45,000, while gold prices fell. Sector ETFs like XLK and XLRE saw upticks, whereas XOP and OIH experienced declines. Notable stock movements included Boeing's drop after an FAA grounding order, NVIDIA's rise on AI chip production news, AMD's gain after a new processor reveal, American Airlines' upgrade by Morgan Stanley, Crocs' surge on raised sales forecast, and Abercrombie & Fitch's increase after raising its sales forecast.

Portfolio Pulse from Piero Cingari

January 08, 2024 | 6:15 pm

DADA

Dada Nexus Limited (NASDAQ:DADA) stock is trading lower after the company disclosed that its internal audit found suspicious practices that may have led to overstated revenues for its online advertising and marketing services in 2023. The company has warned that its Q4 and full-year 2023 guidance should not be relied upon. The stock has seen a significant increase in trading volume and has set a new 52-week intraday low.

Portfolio Pulse from Erica Kollmann

January 08, 2024 | 6:06 pm

SPY

Atlanta Fed President Bostic emphasized the need for certainty in inflation control before making significant policy changes. His cautious stance suggests a careful approach to adjusting monetary policy, which could impact investor expectations regarding interest rates and economic growth.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:04 pm