Streetbeat News

Regulatory

AVGO

VMW

VMware's stock is trading lower following the announcement that all necessary regulatory approvals for its merger with Broadcom have been obtained, indicating the deal is set to close.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 3:17 pm

LQR

LQR House Inc. (NASDAQ:LQR) has announced a proposed 60-for-1 reverse stock split, subject to NASDAQ approval, to maintain NASDAQ compliance. The split will affect common stock and derivatives like options and warrants. No fractional shares will be issued, with fractions rounded down. The company is also continuing its repurchase program to buy back up to 2,000,000 shares, taking advantage of the current stock price discount.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 3:09 pm

TCMD

Senator Tina Smith reported purchasing $100,001 - $250,000 worth of Tactile Systems Tech (NASDAQ:TCMD) stock on November 20, 2023. The STOCK Act prohibits using private information for personal gain and requires Congress members to disclose transactions. TCMD shares rose 2.53% to $12.96 following the news.

Portfolio Pulse from Benzinga Insights

November 21, 2023 | 3:05 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is planning to expand its operations in India by exporting cars next year and establishing a $2 billion manufacturing facility within two years. Potential factory locations include Gujarat, Maharashtra, and Tamil Nadu. The company aims to produce some batteries locally and increase auto parts purchases from India to $15 billion. Tesla's entry into India could significantly impact the local EV sector. The company is also considering producing and selling battery storage systems in India. CEO Elon Musk is expected to visit India in 2024. TSLA shares were up 0.51% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 21, 2023 | 3:00 pm

GEHC

GE Healthcare has introduced a new version of Digital Expert Access, which is the first FDA 510(k)-cleared device that allows for remote patient scanning. Additionally, GE Healthcare has entered into an exclusive distribution agreement with IONIC Health to enhance its portfolio with multi-vendor, multi-modality remote scanning capabilities.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:31 pm

MOR

MorphoSys AG's stock (NASDAQ:MOR) is trading lower after releasing Phase 3 MANIFEST-2 study results for pelabresib in combination with ruxolitinib for myelofibrosis treatment. The study met its primary endpoint, showing a significant reduction in spleen volume. However, secondary endpoints related to symptom improvement showed a positive trend but did not reach statistical significance. MorphoSys plans to submit regulatory applications for pelabresib in mid-2024. MOR shares dropped 20.14% in premarket trading.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 2:28 pm

BNTX

MRNA

PFE

The European Patent Office declared a Moderna mRNA patent invalid, favoring BioNTech and Pfizer in a patent dispute. Moderna's shares fell 2.3% premarket after the announcement. Moderna plans to appeal the decision. BioNTech welcomed the ruling, stating the patent did not meet grant requirements. Moderna has sued BioNTech in Germany, claiming patent infringement on its mRNA technology.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:28 pm

EWU

SPHR

Sphere Entertainment has been formally notified by the Mayor of London that its planning application for the Sphere venue in Stratford, London, was not approved. This decision may impact the company's expansion plans in the UK.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:21 pm

NVO

The European Medicines Agency (EMA) has announced that Novo Nordisk has informed them of expected intermittent shortages of Ozempic throughout 2024. Ozempic, which contains the active substance semaglutide, is anticipated to be in short supply due to increased global demand.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:21 pm

NVO

The European Medicines Agency (EMA) has announced that Novo Nordisk will temporarily reduce the supply of Victoza to facilitate an increased supply of Ozempic. Novo Nordisk has informed that the shortage of both Ozempic and Victoza is expected to worsen in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 2:20 pm