Streetbeat News

Regulatory

AMAT

Applied Materials (AMAT) stock is trading lower following the release of their Q4 earnings. Additionally, the company is reportedly under a US criminal investigation for potentially circumventing export restrictions to China's SMIC, adding further pressure to the stock.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:19 pm

BB

BlackBerry Limited (NYSE:BB) has entered into a long-term cybersecurity deal with the Government of Malaysia, announced at the APEC Leaders' Summit. The agreement includes BlackBerry's suite of cybersecurity solutions, establishment of a Cybersecurity Center of Excellence (CCoE) in Kuala Lumpur, and collaboration with the Government of Canada to build cybersecurity capacity in Southeast Asia. The CCoE will provide training to address Malaysia's shortage of cyber professionals and enhance regional cyber threat intelligence and incident response.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:12 pm

PXMD

PaxMedica Inc. (NASDAQ:PXMD) was featured in a syndicated broadcast by NetworkNewsAudio, discussing the company's recent FDA type-B meeting regarding PAX-101, a treatment for Human African Sleeping Sickness. The meeting focused on the positive results from the PAX-HAT-301 study and the company's progress towards an NDA submission expected in the second half of 2024. PaxMedica's CEO highlighted the FDA's constructive feedback and the company's efforts to produce commercial lots under CMC guidelines, aiming for time and cost savings.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:11 pm

HUMA

Humacyte, Inc. (NASDAQ:HUMA) announced positive results from its Phase 2/3 clinical trial and real-world use of its Human Acellular Vessel (HAV) for treating vascular trauma at the VEITHsymposium. The HAV showed higher patency rates and lower rates of amputation and infection compared to synthetic grafts. Humacyte plans to file a BLA with the FDA for the HAV in vascular trauma during the current quarter. The trial results, including data from a humanitarian program in Ukraine, demonstrated the HAV's effectiveness and potential as an off-the-shelf solution for vascular injuries.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:07 pm

AZN

DSKNY

GILD

The FDA has approved AstraZeneca's Truqap in combination with Faslodex for treating HR-positive, HER2-negative advanced or metastatic breast cancer with specific biomarker alterations. This approval positions AstraZeneca to compete with Gilead Sciences' Trodelvy in the breast cancer treatment market. The approval is based on Phase 3 trial results showing a significant reduction in disease progression or death. AstraZeneca is also set to receive a milestone payment from Astex Therapeutics upon the first U.S. sale and future royalties.

Portfolio Pulse from Vandana Singh

November 17, 2023 | 12:46 pm

BA

Boeing Co, in partnership with the U.S. government, has initiated a project to promote the development and utilization of Sustainable Aviation Fuel (SAF) in Asia-Pacific Economic Cooperation (APEC) member countries. SAF is crucial for achieving net-zero carbon emissions by 2050 as set by the International Civil Aviation Organization and the industry. Despite its potential to reduce CO2 emissions by up to 85%, SAF currently makes up only 0.1% of global jet fuel demand due to limited supply and high costs. The initiative, sponsored by the U.S. Department of Transportation and the FAA, aims to address these challenges by identifying sustainable feedstocks, optimizing production pathways, leveraging existing infrastructure, and developing SAF-specific policies.

Portfolio Pulse from Shivani Kumaresan

November 17, 2023 | 12:22 pm

MF

Missfresh has received a delisting notice from Nasdaq, resulting in the suspension of trading for its securities effective at the opening of trading on Friday, November 17, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 12:08 pm

EVTV

Envirotech Vehicles (EVTV) has received a Certificate of Conformity with the Clean Air Act from the EPA for its Bumble Bee all-electric school bus. This certification is a significant step for the company, indicating that the Bumble Bee meets the EPA's emissions standards and can be sold in the United States.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 11:38 am

MSFT

OpenAI, supported by Microsoft Corp (NASDAQ:MSFT), is planning to integrate its ChatGPT chatbot into the education sector. OpenAI's COO, Brad Lightcap, announced the initiative, which aims to leverage ChatGPT as an educational tool in classrooms. Despite initial concerns about cheating, educators are recognizing its potential benefits. OpenAI is forming a new team to develop educational applications and has existing partnerships with groups like Khan Academy and Schmidt Futures. The online learning market is expected to grow significantly, and ChatGPT could contribute to this by serving as a tutor and assisting with curriculum development. However, privacy concerns for children using ChatGPT in schools have been raised. OpenAI anticipates generating over $1 billion in revenue from AI software and services within the next year.

Portfolio Pulse from Anusuya Lahiri

November 17, 2023 | 11:20 am

BABAF

Alibaba Group's (OTC:BABAF) market value dropped by $20 billion after halting plans to spin off its cloud segment due to U.S. export restrictions on AI chips. This caused a 10% decline in its Hong Kong-listed shares, the largest in over a year. Investors are concerned about potential undisclosed issues within Alibaba, as the decision follows similar concerns from Tencent Holdings regarding U.S. export restrictions. Alibaba's market value has significantly decreased since October 2020, affected by regulatory crackdowns, economic slowdown, and internal challenges. Despite this, Alibaba is committed to growing its cloud business and investing in AI, with a strategic review to differentiate core and non-core businesses.

Portfolio Pulse from Benzinga Neuro

November 17, 2023 | 11:07 am