Streetbeat News

Regulatory

TSLA

Gordon Johnson, CEO of GLJ Research and a known Tesla bear, has accused the NHTSA of being 'bought and paid for' due to a lack of action on complaints about Tesla's Model 3 and Model Y phantom braking issues. The complaints increased after Tesla disabled radar in these models in May 2021. Despite Johnson's accusations, the NHTSA did start a review of customer complaints in February 2022.

Portfolio Pulse from Anan Ashraf

December 07, 2023 | 10:50 am

GNFT

IPSEY

Ipsen and GENFIT announced the FDA has accepted the NDA for elafibranor, a potential treatment for PBC, a rare liver disease. The FDA granted priority review with a target PDUFA date of June 10, 2024.

Portfolio Pulse from Charles Gross

December 07, 2023 | 10:17 am

META

The Wall Street Journal reports that Meta Platforms Inc. will begin fully encrypting messages on Facebook and Instagram. This move towards enhanced privacy could affect user trust and regulatory scrutiny.

Portfolio Pulse from Charles Gross

December 07, 2023 | 9:50 am

DB

A Bankrate survey reported by The Hill indicates that 60% of Americans believe the economy is in a recession, despite strong job growth and economic expansion. This sentiment spans across generations and income levels. Economic experts, however, have a positive outlook, contrasting with the public's concern over affordability and financial security. Investment firms like BMO Capital Markets and Deutsche Bank predict a potential U.S. recession by the end of 2024, with varying forecasts for the stock market in 2024, including a potential downturn for the S&P 500.

Portfolio Pulse from Benzinga Neuro

December 07, 2023 | 8:22 am

REGN

Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) will present new and updated data on its oncology pipeline at the ESMO IO Congress 2023. This includes Phase 1 data for REGN5668 in combination with Libtayo in recurrent ovarian cancer patients and Phase 2 trial results of Libtayo with SBRT in early-stage HCC patients.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 7:38 am

COIN

MSTR

Bitcoin's recent bull run has resulted in significant losses for crypto short sellers, totaling $2.6 billion in less than three months. The surge in Bitcoin's value, which has increased by 75% since September 11, has positively impacted the stock prices of crypto-related companies like Coinbase and MicroStrategy. Coinbase's stock rose by 51%, while MicroStrategy's stock jumped by 82%. Short sellers have faced over $6 billion in losses since January, with a single-day loss of $387 million recently. The optimism around a potential SEC-approved Bitcoin ETF is driving the surge.

Portfolio Pulse from Mehab Qureshi

December 07, 2023 | 7:21 am

EWU

The U.K. Halifax House Price Index reported a year-on-year decrease of 1.0% for November, showing an improvement from the prior figure of -3.2%.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 7:01 am

ASLE

BA

AerSale Corporation (NASDAQ:ASLE) has received FAA approval for its 'AerAware™' Enhanced Flight Vision System (EFVS) for the Boeing B737NG product line. This approval could lead to increased adoption of AerAware™ by airlines operating B737NG aircraft, potentially boosting AerSale's business in aviation products and services.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 6:58 am

QQQ

SPY

'Rich Dad Poor Dad' author Robert Kiyosaki has warned of an impending economic crash that could turn into a depression. He criticized the idea of a 'soft landing' and urged Americans to vote for conservative candidates to avoid turning the USA into a 'Marxists state.' Despite his warnings, the U.S. is experiencing deflation, and some experts predict inflation could return to the Federal Reserve's 2% target by next year. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust Series 1 (QQQ) closed slightly lower on Wednesday but have seen significant gains this year.

Portfolio Pulse from Benzinga Neuro

December 07, 2023 | 6:51 am

IPSEY

The U.S. FDA has granted priority review for Ipsen's new drug application for elafibranor, aimed at treating the rare cholestatic liver disease PBC. The PDUFA date is set for June 10, 2024. Additionally, the EMA has validated the MAA for elafibranor, marking it as the first novel second-line treatment for PBC filed in the E.U. and U.S. in nearly a decade.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 6:45 am