Streetbeat News

Regulatory

WTER

The Alkaline Water Company's stock is trading lower following the receipt of a deficiency letter from Nasdaq due to the late filing of its Form 10-Q.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 6:00 pm

ETHUSD

On Tuesday, 8,496.22 Ether (ETH) valued at approximately $17.3 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -10.07% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 6:00 pm

PBLA

Panbela Therapeutics' stock is trading higher following a recommendation from the independent Data Safety Monitoring Board to continue its study without modification.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:56 pm

EGRX

Eagle Pharmaceuticals' stock is down following the announcement of a Nasdaq deficiency notice for a late 10-Q filing and the immediate resignation of Founder, President, and CEO Scott Tarriff.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:51 pm

EIS

USO

OPEC+ is contemplating new oil production cuts up to 1 million barrels a day due to the ongoing Middle East conflict. The decision could be made at a virtual meeting and may result in higher oil prices. The meeting was delayed from last week because of disagreements on production levels.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:46 pm

RDHL

Redhill Biopharma Ltd. (NASDAQ:RDHL) stock has surged approximately 700% over the last five days following the FDA's grant of five years' market exclusivity for its drug, Talicia, in addition to three years' exclusivity for the drug's approval. Talicia, a therapy for H. pylori infection, is protected by intellectual property until 2034. RDHL's trading volume has significantly exceeded its 100-day average, with over 67 million shares traded in a session. The stock is currently trading above its 50-day moving average but below its 52-week high.

Portfolio Pulse from Erica Kollmann

November 29, 2023 | 5:39 pm

CENN

Cenntro Electric Group Limited (NASDAQ:CENN) announced a 1-for-10 reverse stock split to comply with Nasdaq's minimum bid price requirement. The split is set for December 1, 2023, to meet the December 18 deadline. This action will reduce the number of outstanding shares from about 304.4 million to approximately 30.4 million. The split will not change stockholders' percentage ownership, except for adjustments due to fractional shares, which will be rounded up to whole shares. The par value remains unchanged, and all derivatives will be adjusted accordingly.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:27 pm

BIVI

FLNC

FTCH

ROVR

SEEL

VVOS

U.S. stocks traded higher, with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Real estate shares led the market, while communication services lagged. Crude oil inventories rose less than in the previous period, contrary to market expectations of a decline. Vivos Therapeutics' shares surged after FDA clearance for its sleep apnea treatment. Rover Group's stock spiked following the announcement of its acquisition by Blackstone. Fluence Energy's shares increased after reporting Q4 results and FY24 revenue guidance. BioVie, Seelos Therapeutics, and Farfetch saw significant share price drops due to negative trial results, a public offering, and a delay in financial results, respectively.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 5:05 pm

CYTO

Altamira Therapeutics' stock is trading higher following the announcement that the company has regained compliance with Nasdaq's minimum stockholders' equity requirement.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:03 pm

CPHI

China Pharma Holdings' stock is trading higher following the announcement that its Dry Eye Disease therapeutic device has successfully passed third-party testing. The company is now preparing to submit an application for market launch to the National Medical Products Administration of China.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 5:02 pm