Streetbeat News

Regulatory

GME

The SEC whistleblower program, which rewards tipsters for reporting fraud, has attracted high-profile short sellers like Carson Block and Nate Anderson. The program pays around 10% of fines collected from prosecuted companies. Block and Anderson have been involved in significant cases, with Block receiving $14M for a 2015 insider trading case. The SEC received 18,000 tips in 2023, double the past decade's total. The SEC also requires hedge funds to disclose short positions, a move influenced by the GameStop stock market events.

Portfolio Pulse from Neil Dennis

November 15, 2023 | 6:55 pm

SPY

Fitch Ratings reports that U.S. states saw a significant drop in long-term liability burdens during fiscal 2022. However, this decline is expected to be temporary as it is largely due to robust revenue growth and federal aid, which are not sustainable long-term.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 6:54 pm

CMMB

Chemomab Therapeutics' stock is trading higher following the announcement that the FDA has granted fast track designation to its drug CM-101 for the treatment of primary sclerosing cholangitis.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 6:46 pm

AMZN

BNBUSD

HSBC

IMF Managing Director Kristalina Georgieva advocated for the accelerated adoption of central bank digital currencies (CBDCs) at the Singapore FinTech Festival, highlighting their potential to improve cross-border payments and financial inclusion. The festival featured discussions on fintech advancements with participants like Amazon.com, Inc., Binance, and HSBC Holdings plc. The IMF introduced a new handbook for policymakers on CBDCs, and Ant Group announced a partnership with the National Bank of Cambodia for cross-border mobile payments.

Portfolio Pulse from Murtuza Merchant

November 15, 2023 | 6:32 pm

CRMD

CorMedix Inc. shares have risen following the announcement of better-than-expected earnings per share (EPS) for the third quarter. Additionally, the company has received FDA approval for its product DefenCath, which is a significant regulatory milestone.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 6:03 pm

ETHUSD

On Tuesday, 7,771.17 Ether (ETH) valued at approximately $15.65 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 -8.86% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 15, 2023 | 6:00 pm

GOOG

GOOGL

Google announced that starting in November 2023, its Google Ads Gambling and Games policy will be updated to allow ads for sports betting from licensed entities in Florida. This policy change will enable licensed sports betting companies to advertise through Google Ads in the Florida market.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:35 pm

UAL

United Airlines and the Houston Airport System (HAS) are investing over $2 billion in the Terminal B Transformation Program at George Bush Intercontinental Airport (IAH). The project includes 40 new gates, expanded amenities, and a focus on sustainability with the goal of LEED Silver certification. The expansion aims to accommodate an estimated 36 million passengers and will bring nearly 3,000 new jobs to Houston. United Airlines is investing $1.9 billion, while the City of Houston will fund $624 million in enabling projects. The project is expected to enhance the passenger experience and support Houston's economy.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:33 pm

MRK

FDA staff have raised questions about the clinical meaningfulness of the efficacy data for Merck's drug Gefapixant, noting only a small reduction in cough frequency according to Reuters citing briefing documents.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:25 pm

META

VGK

Meta Platforms Inc. is appealing the EU's classification of its Messenger and Marketplace services as 'gatekeepers' under the Digital Markets Act. However, Meta will not contest the same designation for Facebook, Instagram, and WhatsApp, and intends to cooperate with the European Commission to ensure compliance.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:02 pm