Streetbeat News

Regulatory

BRN

West Maui has terminated the purchase agreement with Barnwell Industries according to a notice sent by the law firm representing West Maui, as disclosed in an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:29 pm

TNXP

Sabby Volatility Warrant Master Fund, Ltd. has reported a 9.99% stake in Tonix Pharmaceuticals as of December 31, 2023, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:28 pm

SEM

Select Medical Holdings Corporation (NYSE:SEM) announced plans to separate its Concentra business into an independent, publicly traded company. The separation, expected to be tax-free for Select Medical and its stockholders, is planned for late 2024. Stockholders will retain shares of Select Medical and receive a pro rata distribution of Concentra stock. The separation is subject to conditions including market conditions, financing transactions, IRS ruling, and board approval. J.P. Morgan is the financial advisor and Dechert LLP is the legal counsel for the transaction.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:18 pm

ELLO

Ellomay Capital Ltd. (NYSE:ELLO) has agreed to sell its 9 MW Talmei Yosef solar facility in Israel to Greenlight Fund Limited Partnership and Doral Group Renewable Energy Resources Ltd. for approximately $12.2 million, with a potential additional payment of up to $1.1 million. The sale is subject to regulatory approvals, consent of the financing entity, and the end of the war in southern Israel. The company retains rights to two development projects nearby. The sale's completion is uncertain due to conditions largely outside the company's control.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:16 pm

VLD

Velo3D, Inc. (VLD) has received a notice from the NYSE for not meeting the minimum average closing price requirement over a 30-day period. VLD has a six-month period to regain compliance, which can be achieved if its stock closes at $1.00 or more on the last trading day of any month during this period and maintains that average for the 30-day period. VLD is considering options, including a reverse stock split, to meet the NYSE's standards and intends to remain listed.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:13 pm

FIXX

Homology Medicines, Inc. (NASDAQ:FIXX) received a notification from Nasdaq for not meeting the minimum bid price requirement of $1.00 per share for the last 30 business days. The company has until June 26, 2024, to regain compliance. Homology plans to propose a reverse stock split to address this issue ahead of a merger with Q32 Bio Inc. If compliance is not achieved, Homology may face delisting from Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 9:12 pm

CLF

IE

TMC

ZEUS

Ivanhoe Electric (IE) announced that its Executive Chairman and CEO will participate in the Future Minerals Forum, showcasing its Typhoon system and supporting its JV with Ma'aden. Cleveland-Cliffs (CLF) is raising prices for its steel products, with hot-rolled steel starting at $1,150 per ton. Olympic Steel (ZEUS) promoted Zachary J. Siegal to President of Manufactured Metal Products. TMC The Metals Company (TMC) supports the 2024 National Defense Authorization Act, which could benefit its seafloor polymetallic nodules exploration for battery metals.

Portfolio Pulse from Austin DeNoce

January 03, 2024 | 8:23 pm

QQQ

The Federal Reserve's December meeting minutes indicate that interest rates are likely at or near the cycle's peak, with the current rate at 5.25%-5.5%. The Fed acknowledges a slowdown in economic growth and a moderation in job gains, while inflation remains uneven with core services prices still high. The Fed's policy remains data-dependent, with a potential for lower rates by the end of 2024. Market reaction to the minutes was mixed, with a slight dip in the U.S. dollar index and Treasury yields, and a brief surge in the S&P 500 before retreating. The Invesco QQQ Trust (NASDAQ:QQQ) was 1% lower.

Portfolio Pulse from Piero Cingari

January 03, 2024 | 8:12 pm

MJ

MSOS

The DEA has informed Congress that it has the final say on marijuana scheduling decisions, despite HHS's recommendation to reclassify marijuana to Schedule III. The DEA is currently reviewing the recommendation, but the timeline for completion is unclear. Lawmakers and various groups have expressed differing opinions on the matter, with some urging for descheduling and others for maintaining its Schedule I status. The DEA also warned Georgia pharmacies against dispensing THC, as marijuana remains a Schedule I drug.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 7:46 pm

X

The White House has not provided an update on the national security review of the acquisition of U.S. Steel Corp. by Nippon.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 7:32 pm