Streetbeat News

Regulatory

WST

West Pharmaceutical Services, Inc. (NYSE:WST) has received FDA 510(k) clearance for its Vial2Bag Advanced 13mm admixture device, expanding its portfolio of needle-free drug administration systems. The device, designed for immediate use IV drug transfer, complements the existing 20mm version, offering more options for drug reconstitution and transfer at the point-of-care. The product was launched at the American Society of Health-System Pharmacists Midyear Clinical Meeting and is intended for adolescent and adult patients, for prescription and U.S. healthcare professional use only.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 8:04 pm

AVAXUSD

BTCUSD

DOGEUSD

LINKUSD

RUNEUSD

SHIBUSD

Experts assert that the current crypto market rally is genuine, driven by strong fundamentals and positive market sentiment. Bitcoin is expected to surpass its all-time high by the end of 2024 and hit new records in 2025. Altcoins like Dogecoin, Shiba Inu, Ordi, and Terra Luna are also experiencing significant gains. Projects like Avalanche, Chainlink, and ThorChain have outperformed Bitcoin recently, and new projects like Celestia are predicted to contribute to the largest altcoin market cap in history by 2025. The surge in Bitcoin prices is partly attributed to the anticipation of a spot Bitcoin ETF, with a temporary dip expected post-approval. Market volatility, geopolitical instability, and rising debt levels are also influencing the shift towards cryptocurrencies. However, analysts warn of potential technical hurdles and a strong U.S. macroeconomic backdrop that could affect rate cut expectations.

Portfolio Pulse from Murtuza Merchant

December 04, 2023 | 7:38 pm

ALK

COIN

DIA

GME

IWM

PLTR

QQQ

SAIC

SPOT

SPY

TLT

UBER

Stocks opened December with losses amid reduced expectations for a Fed rate cut in March 2024. Treasury yields rose, affecting stocks and commodities, with the S&P 500, Nasdaq, and Dow Jones all falling. Small-cap stocks and Bitcoin gained, while commodities and tech stocks declined. Sector ETFs saw mixed performance, with healthcare and consumer staples stable, but communication services and technology sectors down. Notable stock movements included gains for Coinbase, SAIC, Uber, Gamestop, and Spotify, while Alaska Air Group fell after announcing an acquisition of Hawaiian Holdings, which surged.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 7:32 pm

MSTR

Litecoin (CRYPTO: LTC) has seen a 1.5% increase in value over the past 24 hours. The rise in Litecoin and other altcoins coincides with a broader cryptocurrency market upswing, highlighted by Bitcoin's surge past $40,000 following MicroStrategy's purchase of 16,130 Bitcoins. MicroStrategy now holds 174,530 Bitcoins at an average price of $30,252 each. Additionally, the SEC is considering a rule change that could allow Fidelity to offer an Ethereum ETF, indicating growing institutional interest in cryptocurrencies. This trend could indirectly benefit Litecoin as investors look for alternative investment opportunities in the crypto space.

Portfolio Pulse from Henry Khederian

December 04, 2023 | 7:29 pm

EIS

SPY

USO

National Security Advisor Sullivan states that recent attacks on vessels in the Red Sea pose a threat to international peace and stability, and suggests Iran fully enabled these attacks. He also clarifies that not all three of the attacked ships had ties to Israel.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 7:29 pm

EWG

Germany's final vote on a bill to legalize marijuana has been delayed until next year due to concerns from the Social Democratic Party (SPD). The delay is the latest in a series of postponements, with the bill's first debate and subsequent votes previously pushed back. Health Minister Karl Lauterbach defended the bill against criticism that it would increase underage consumption. Adjustments to the bill include increased home possession limits and the removal of jail time for minor possession overages. The phased implementation would start with possession and home cultivation in April, followed by social clubs in July. A second measure for commercial sales will be reviewed by the European Commission. The delay has caused disappointment among politicians and the public, with the German Hemp Association urging action. The bill will go to the Bundesrat after the Bundestag's final reading.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 7:26 pm

BDX

CAH

Becton, Dickinson, And Company (BDX) is recalling its Alaris infusion pumps due to compatibility issues with Cardinal Health Inc's (CAH) Monoject syringes, as announced by the FDA. The recall is classified as Class I, indicating a risk of serious injury or death. The issue arose after Cardinal Health changed the dimensions of its Monoject syringes during rebranding. There have been 13 reported injuries but no deaths. BDX shares saw a slight decline of 0.15% to $237.89.

Portfolio Pulse from Vandana Singh

December 04, 2023 | 7:22 pm

SDZNY

TEVA

Major pharmaceutical companies, including Teva Pharmaceutical Industries Limited, Sandoz Group, and Aurobindo Pharma, are opposing states' efforts to move antitrust lawsuits alleging price-fixing out of the Eastern District of Pennsylvania. The companies argue that transferring cases could lead to chaos and duplicity. The litigation, which began in 2016, involves claims against numerous generic drug manufacturers. A new law, the Venue Act, allows states to choose their preferred jurisdictions for antitrust cases, which has already impacted other cases, such as one involving Google.

Portfolio Pulse from Vandana Singh

December 04, 2023 | 7:02 pm

COIN

Coinbase CEO Brian Armstrong believes Bitcoin can uphold Western values and act as a check and balance for the U.S. dollar. Contrary to the view that cryptocurrencies threaten fiat currencies, Armstrong sees them as complementary, with Bitcoin supporting American interests and stablecoins like USDC bridging the gap between fiat and crypto.

Portfolio Pulse from Murtuza Merchant

December 04, 2023 | 6:30 pm

BLMIF

EIS

A study by NYU and Columbia University researchers found unusual trading activity in Israeli stocks and ETFs, such as iShares MSCI Israel ETF (EIS) and Bank Leumi (BLMIF), before the Oct. 7 Hamas attacks. There was a surge in short selling and a sharp increase in put options, suggesting possible foreknowledge of the attacks. The study raises ethical and legal concerns and calls for regulatory review.

Portfolio Pulse from Piero Cingari

December 04, 2023 | 6:29 pm