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Regulatory

SLDB

Solid Biosciences Inc. (NASDAQ:SLDB) shares surged over 75% after the company announced it received Fast Track Designation from the FDA for its Duchenne muscular dystrophy gene therapy candidate, SGT-003. This follows the IND clearance received in mid-November. The stock closed up 68.4% at $5.76, with trading volume significantly higher than the average.

Portfolio Pulse from Ryan Gustafson

December 07, 2023 | 9:05 pm

NVDA

During the fourth GOP presidential debate, candidates Nikki Haley and Ron DeSantis exchanged criticisms over their respective stances on China. The debate highlighted that if a Republican wins the 2024 election, there could be more restrictions on China, potentially impacting chipmakers. Nvidia Corp (NVDA) is mentioned as having a significant share of China's AI chip market but expects a sharp fall in China sales in Q4 due to U.S. export control rules. The Commerce Department anticipates annual updates to these restrictions.

Portfolio Pulse from Adam Eckert

December 07, 2023 | 8:34 pm

ABBV

CERE

IMGN

AbbVie Inc (NYSE:ABBV) is set to acquire Cerevel Therapeutics Holdings Inc (NASDAQ:CERE) for $8.7 billion and ImmunoGen Inc (NASDAQ:IMGN) for $10.1 billion. The Cerevel acquisition, expected to close in mid-2024, will enhance AbbVie's neuroscience portfolio, including treatments for schizophrenia and Parkinson's disease. However, the deals may attract FTC scrutiny due to potential market dominance, particularly as AbbVie already has approved products in these areas. ABBV shares rose 1.06% following the news.

Portfolio Pulse from Vandana Singh

December 07, 2023 | 8:19 pm

EIS

SPY

USO

A White House aide, Finer, has stated that the U.S. government believes Iran is involved in the planning, execution, and authorization of Houthi attacks on ships and Israel.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 8:06 pm

EWG

RTX

SPY

The U.S. State Department has approved a potential sale of lightweight torpedoes to Germany, with an estimated cost of $300 million. This sale could involve defense contractors that provide such military equipment.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 8:05 pm

BCLI

Shares of BrainStorm Cell Therapeutics Inc (NASDAQ:BCLI) dropped 22.6% to $0.23 after the company discussed a Special Protocol Assessment (SPA) for a Phase 3b trial of NurOwn, its ALS treatment, with the FDA. The SPA is intended to align with FDA requirements for a future marketing application. BrainStorm will follow up with necessary documentation as advised by the FDA. The company views the SPA as a step to mitigate regulatory risks and remains dedicated to providing effective ALS treatments. The FDA's agreement on the SPA does not encompass all trial details but indicates support for key elements of the trial design. BCLI's 52-week trading range is from $27.85 to $54.60.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 7:57 pm

BNBUSD

Binance's BNB token did not participate in the recent crypto market surge due to the company pleading guilty to anti-money-laundering and sanctions violations, resulting in a $4.3 billion penalty. The Justice Department filed criminal charges against former CEO Changpeng Zhao. BNB's value increased by 1.5% over the past week but declined by 6.8% over the last 30 days and 18% over the past year. Binance's market share in spot and derivatives trading has decreased, and it experienced significant customer withdrawals in November 2023.

Portfolio Pulse from Khyathi Dalal

December 07, 2023 | 7:54 pm

TFX

Janus Henderson Group Plc has disclosed a 10.3% stake in Teleflex Incorporated as of November 30, 2023, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 7:53 pm

DISH

SATS

DISH Network Corp (NASDAQ:DISH) shares rose 8.6% after the FCC approved the transfer of control to EchoStar Corp (NASDAQ:SATS). The approval allows the recombination of DISH and EchoStar, which were once part of the same entity. The merger received support from independent directors and majority shareholders, with Charles W. Ergen retaining significant control. The FCC deemed the transfer to be in the public interest, effective immediately. DISH's 52-week trading range is $3.21 to $16.45.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 7:23 pm

MSFT

The FTC is continuing its legal battle against Microsoft's acquisition of Activision Blizzard, despite the deal's approval in the UK and finalization in October 2023. The FTC believes the judge set too high a standard for proving anticompetitive effects, while Microsoft's lawyer argues the FTC's case lacks evidence of any motive to limit game availability on other platforms.

Portfolio Pulse from Franca Quarneti

December 07, 2023 | 7:20 pm