Streetbeat News

Regulatory

NSTG

NanoString Technologies, Inc. has announced the withdrawal of its full year 2023 and Q4 financial guidance due to the need to review the impact of a recent litigation outcome on its business operations.

Portfolio Pulse from Benzinga Newsdesk

November 20, 2023 | 3:06 am

BRSH

Bruush Oral Care Inc. (NASDAQ:BRSH) received a notice from Nasdaq for not meeting the minimum bid price requirement as its shares closed below $1.00 for 30 consecutive days. The company has 180 days until May 13, 2024, to regain compliance by having its share price close at $1.00 or higher for at least ten consecutive business days. The notice does not affect the current trading of BRSH shares on Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

November 19, 2023 | 8:36 pm

BPTS

Biophytis SA received a Nasdaq notice for non-compliance with the minimum bid price rule due to its ADSs closing below $1.00 for 30 consecutive days. The company remains listed on The Nasdaq Global Select Market under the symbol 'BPTS' and has a 180-day grace period until May 13, 2024, to regain compliance. Biophytis is considering options to address the deficiency and may be eligible for an additional 180-day period if other listing standards are met.

Portfolio Pulse from Benzinga Newsdesk

November 19, 2023 | 8:35 pm

MDT

Medtronic plc (NYSE:MDT) has received FDA approval for its Symplicity Spyral renal denervation system, a minimally invasive device to treat hypertension. The device, which delivers radiofrequency energy to nerves near the kidneys, represents a significant milestone in hypertension treatment. Medtronic will immediately begin commercialization in the U.S., addressing a major global health issue with a new treatment option that complements existing medications and lifestyle changes. The approval follows ten years of clinical research and development, and the device is already approved for commercial use in over 70 countries.

Portfolio Pulse from Benzinga Newsdesk

November 19, 2023 | 8:31 pm

FEBO

Fenbo Holdings Limited (NASDAQ:FEBO) is set to go public on Nov. 21, 2023, with an IPO price band of $4.00 to $6.00 per share. The company plans to offer 1,000,000 shares at $5.00 each, with an insider lock-up period of 180 days. IPOs allow private companies to raise capital by offering shares on an exchange after meeting SEC requirements and establishing an offering range with investment banks.

Portfolio Pulse from Benzinga Insights

November 19, 2023 | 6:50 pm

BTCUSD

James Butterfill, head of research at CoinShares, suggests that the approval of a spot Bitcoin ETF by the SEC could lead to a significant increase in Bitcoin's price, potentially over 600%. He estimates that a 10% investment in a spot Bitcoin ETF with a 1% average allocation could result in $14.4 billion of inflows in the first year, potentially pushing Bitcoin's price to $141,000. A larger inflow of $31.3 billion could lead to a price of $265,437, a 627% surge from its current value of $36,565.

Portfolio Pulse from Bibhu Pattnaik

November 19, 2023 | 5:02 pm

GSK

MRK

Merck & Company, Inc.'s (NYSE:MRK) new drug gefapixant faces skepticism from an FDA advisory panel due to questionable efficacy and side effects. The panel voted 12 to 1, highlighting minor reductions in cough frequency and a high dropout rate in trials. Despite Merck's defense of gefapixant, the FDA's final decision is pending for December 27. If approved, gefapixant will compete with GSK Plc's (NYSE:GSK) camlipixant. Merck's cancer drug was recently approved for a type of gastric cancer. MRK shares dropped slightly by 0.24%.

Portfolio Pulse from Nabaparna Bhattacharya

November 18, 2023 | 6:21 pm

AMZN

META

MSFT

SOXX

TSLA

The stock market saw gains for the third consecutive week, with major indexes rising. U.S. inflation slowed in October, and retail sales contracted slightly. Benzinga's event discussed fintech and digital assets. Bullish views included Amazon's blockchain head discussing a Bitcoin ETF, Microsoft's raised target price due to AI and custom chips, and Dogecoin's potential rally. Bearish perspectives involved Tesla's struggles in China, Michael Burry's short bet against the semiconductor sector, and a developer favoring Apple's Vision Pro over Meta's Quest.

Portfolio Pulse from Michael Cohen

November 18, 2023 | 5:22 pm

FSR

KARS

NKLA

RIVN

TSLA

VWAGY

Electric vehicle stocks saw gains in the week ending Nov. 18, with Tesla (TSLA) up over 10% despite controversy over CEO Elon Musk's support for antisemitic content. Tesla faces union issues in Sweden and prepares for the Cybertruck launch. Nikola (NKLA) announced the resignation of CFO Anastasiya Pasterick. Fisker (FSR) reported disappointing Q3 results and internal control weaknesses. Rivian (RIVN) offers incentives for R1T purchases. Volkswagen (VWAGY) recalls ID.4s over flammability concerns. The KraneShares Electric Vehicles ETF (KARS) ended the week up 4.51% but down 0.88% on Friday.

Portfolio Pulse from Shanthi Rexaline

November 18, 2023 | 2:39 pm

BTCUSD

Bitcoin (BTC) is expected to approach the $50,000 level soon, according to analysts Rachel Lin and Michaël van de Poppe, despite a recent pullback and the SEC's delay in approving spot Bitcoin ETFs. Lin notes a strong bullish bias in the options market, with a call to put ratio of two to one. Van de Poppe views the SEC's engagement with ETF applicants as a positive sign, suggesting momentum and hype could return in December, potentially coinciding with ETF approvals.

Portfolio Pulse from Rounak Jain

November 18, 2023 | 4:25 am