Streetbeat News

Regulatory

CVRX

CVRx, Inc. has received FDA approval for expanded labeling of its Barostim device, leading to a rise in its stock price.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 3:38 pm

GBTC

Grayscale Bitcoin Trust (OTC:GBTC) announced the resignation of chairman Barry E. Silbert and board member Mark Murphy, effective Jan. 1, 2024. New board appointments include CFO Mark Shifke as chairman, with Matthew Kummell and Edward McGee joining the board. The changes come as excitement builds for the potential approval of a Spot Bitcoin ETF, with the SEC's approval window open from Jan. 5 to Jan. 10, 2024. BlackRock Inc and Grayscale have met with the SEC to discuss their ETF applications, with a final amendment deadline set for Dec. 29.

Portfolio Pulse from Khyathi Dalal

December 26, 2023 | 3:27 pm

PLUG

Plug Power Inc (NASDAQ:PLUG) is struggling with a 62% year-to-date stock decline, negative Q3 gross margins, and delays in hydrogen plant projects. The company faces liquidity concerns, a challenging hydrogen supply environment, and regulatory hurdles. Morgan Stanley and Piper Sandler have downgraded PLUG's stock with price targets of $3 and $2.30, respectively. Despite these challenges, PLUG shares were up 5.2% to $4.76 at the time of publication.

Portfolio Pulse from Surbhi Jain

December 26, 2023 | 3:23 pm

INTC

Intel's stock price is on the rise after reports emerged that the company is set to receive a $3.2 billion grant from the Israeli government for the construction of a new $25 billion chip manufacturing plant.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 3:22 pm

AAPL

MASI

Apple Inc. has filed an emergency motion with a U.S. appeals court to pause an import ban on its Apple Watch. The ban was imposed due to a patent infringement case involving Masimo Corp's pulse oximetry technology. Apple is seeking relief while it appeals the decision, arguing that the ban would harm its business and consumer interests.

Portfolio Pulse from Happy Mohamed

December 26, 2023 | 3:00 pm

MIST

Milestone Pharmaceuticals Inc (NASDAQ:MIST) stock is plummeting after the FDA issued a Refusal to File letter for the NDA of etripamil nasal spray for PSVT. The FDA's preliminary review found the NDA, submitted in October 2023, incomplete for substantive review, specifically requesting clarification on adverse event data timing in Phase 3 trials. While no concerns about the severity of adverse events were raised, Milestone is planning to meet with the FDA for clarification. MIST shares dropped 32.30% to $1.95.

Portfolio Pulse from Vandana Singh

December 26, 2023 | 2:53 pm

EPOW

Sunrise New Energy's subsidiary, Sunrise New Energy Materials Co, received preliminary approval for a sodium-ion battery hard carbon composite material patent from the National Intellectual Property Office. The patent, titled 'Fiber-Structured Titanium-Doped Amorphous Carbon Coated Silver Hard Carbon Composite Material and the Preparation Method,' is documented under number 2023121501155630 and relates to sodium-ion battery material preparation.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 2:30 pm

BCLI

Brainstorm Cell Therapeutics' stock is up following the announcement of granted patents for its Allogeneic Exosome Platform-Product, aimed at treating neurological disorders.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 2:07 pm

AAPL

MASI

The Biden Administration has upheld a U.S. trade tribunal's decision to ban imports of certain Apple Watch models. Apple has responded by filing an appeal to the U.S. Appeals Court to overturn the import ban.

Portfolio Pulse from Happy Mohamed

December 26, 2023 | 2:06 pm

AMD

INTC

NVDA

QQQ

SPY

SSNLF

TSM

Nvidia Corp (NVDA) is outperforming peers AMD and INTC, with expected FY23 revenue of $58.86 billion, a 118% increase year-on-year. However, production delays at key suppliers TSMC (TSM) and Samsung (SSNLF) in their Arizona and Texas plants may impact Nvidia. These plants may be delayed until after the 2024 U.S. presidential election. Additionally, a U.S. Department of Commerce survey in 2024 on legacy chip sourcing could pose risks for Nvidia's China market. Chinese companies are also developing AI products to circumvent U.S. technology embargoes. NVDA stock has gained over 241% year-to-date, outpacing gains by AMD, INTC, SPY, and QQQ.

Portfolio Pulse from Anusuya Lahiri

December 26, 2023 | 2:04 pm