Streetbeat News

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MSOS

Republican Representative David Joyce is set to introduce the STATES 2.0 Act, which aims to de-schedule state-legal cannabis at the federal level. This legislative move could significantly impact the legal landscape for cannabis businesses in the United States.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:46 pm

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DNN

LEU

SPY

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VGK

The U.S. House of Representatives is scheduled to vote on a ban on Russian uranium imports. This move could affect several companies involved in uranium mining and nuclear fuel production, as well as broader market indices.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:09 pm

GOOG

GOOGL

Google will update its Ads Gambling and Games Policy for the US on Dec 12, allowing ads for lottery-couriers in Arkansas, Montana, New Jersey, and New York.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:07 pm

META

ByteDance Ltd, the parent company of TikTok, is offering a share buyback of up to $5 billion at $160 per share, which is 11% lower than the previous year's rate. Despite setbacks including regulatory challenges and market bans, ByteDance remains among the top 40 most valuable global companies and saw a 30% revenue increase in 2022, reaching over $80 billion. Meta Platforms Inc (NASDAQ:META) is mentioned as a rival to TikTok.

Portfolio Pulse from Anusuya Lahiri

December 06, 2023 | 7:04 pm

BMY

Bristol Myers Squibb's Abecma, a CAR T cell immunotherapy, has been approved in Japan for use in earlier lines of therapy for patients with relapsed or refractory multiple myeloma (RRMM) who have received at least two prior therapies. This makes Abecma the first CAR T therapy approved for such use in Japan. The approval is based on the KarMMa-3 study, which showed Abecma significantly increased median progression-free survival compared to standard regimens. The results will be presented at the American Society of Hematology Annual Meeting in San Diego.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:56 pm

Ford Motor has announced that its Mustang Mach-E electric vehicles are unlikely to qualify for federal tax credits starting January. This development could affect consumer purchasing decisions and potentially impact Ford's electric vehicle sales.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:47 pm

JPM

JPMorgan Chase & Co. CEO Jamie Dimon testified before a U.S. Senate Committee, criticizing Bitcoin and cryptocurrencies, suggesting the government should shut them down due to their use in illegal activities. Social media users mocked Dimon, accusing him of being out of touch and highlighting the use of fiat in criminal activities. Some users expressed intentions to close their Chase accounts or defended cryptocurrencies as a symbol of freedom.

Portfolio Pulse from Murtuza Merchant

December 06, 2023 | 6:37 pm

RYTM

Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) announced positive Phase 3 trial results for setmelanotide in young patients with Bardet-Biedl syndrome and other obesity-related genetic deficiencies. The drug achieved significant reductions in BMI-Z score and mean BMI. Rhythm has applied for regulatory approval in Europe and plans to submit a supplementary New Drug Application to the FDA in the first half of 2024. Additionally, Rhythm's new MC4R-specific agonist, RM-718, showed promise in pre-clinical studies, with Phase 1 trials expected to start in the first half of 2024. RYTM shares rose 4.65% to $38.52.

Portfolio Pulse from Vandana Singh

December 06, 2023 | 6:36 pm

USO

Kuwait has expressed its support for the OPEC+ agreement and is committed to voluntary oil production cuts, according to Reuters citing the state news agency.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:28 pm

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HMC

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Stellantis, the parent company of Chrysler, is seeking to void a deal made by California with four rival automakers regarding vehicle emissions standards. The deal, which was made separately from federal standards, involves Ford, Honda, Volkswagen, and BMW. Stellantis argues that the agreement gives an unfair advantage to these competitors and has filed a petition with a U.S. appeals court to invalidate the agreement. The outcome of this legal challenge could have significant implications for the auto industry's regulatory environment and competitive landscape.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:27 pm