Streetbeat News

Regulatory

ABR

ALLY

BAC

WFC

Bank and financial services stocks, including major institutions, are experiencing an uptick following the release of October CPI data indicating inflation was not as high as anticipated. This has contributed to a broader market rally as lower inflation could signal a less aggressive stance on interest rate hikes by the Federal Reserve, which is typically positive for stocks.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 7:38 pm

ABNB

ADBE

COIN

Adobe Inc.'s proposed $20 billion acquisition of Figma Inc. is expected to face an antitrust warning from the European Commission. The Commission is preparing a statement of objections, highlighting concerns about potential anti-competitive effects of the deal. The EU initiated an in-depth investigation into the takeover in August over concerns of reduced competition in the market for interactive product design tools. Figma collaborates with companies like Zoom Video Communications, Airbnb, and Coinbase Global. The Commission's decision on the deal is expected by February 5.

Portfolio Pulse from Nabaparna Bhattacharya

November 14, 2023 | 7:10 pm

NVO

Belgium has temporarily banned the use of Novo Nordisk's Ozempic for weight loss due to a medication shortage. Ozempic, primarily for Type 2 diabetes, has been used off-label for weight loss, increasing demand. The ban aims to preserve supplies for diabetic patients, with restricted availability expected until June 2024. Novo Nordisk is investing to increase supply, with a recent $6 billion investment to expand manufacturing in Denmark. NVO shares dropped 1.55% following the news.

Portfolio Pulse from Vandana Singh

November 14, 2023 | 7:05 pm

EIS

SPY

USO

The U.S. State Department has indicated that there are currently pauses in the Gaza conflict and expressed the opinion that these pauses should be extended. The department also stated its intention to continue engaging with the Government of Israel regarding the situation.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 6:39 pm

BCDA

BioCardia's stock is up following FDA approval for Phase 3 clinical trials of CardiAMP, a cell therapy for ischemic heart failure.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 6:36 pm

MCO

NTRS

At the Benzinga Future of Digital Assets conference, experts including Rajeev Bamra from Moody's Corp. (MCO) and Patrick Martinez from Northern Trust Corp. (NTRS) discussed the potential of blockchain to coexist with traditional assets and enhance transaction security and efficiency. They highlighted the growth in digital bond issuances and the evolving role of traditional financial institutions in the digital asset space. Martinez mentioned Northern Trust's partnership with Standard Chartered to establish Zodia, a cryptocurrency custodian. The panelists believe blockchain integration with the entire finance value chain is key to future growth, with predictions of trillions in growth by 2030.

Portfolio Pulse from Piero Cingari

November 14, 2023 | 6:33 pm

SPY

Fed's Goolsbee expressed hope that productivity will return to at least the pre-COVID trend. No specific companies or ETFs like SPY were directly mentioned.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 6:19 pm

KBNT

Kubient shares have dropped following the company's announcement to voluntarily delist from the Nasdaq Capital Market due to noncompliance with listing requirements. This decision to remove its stock and purchase warrants from the exchange reflects compliance issues that have not been specified in the article.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 6:17 pm

AUVI

BCDA

INVO

KBNT

SKIN

THRX

U.S. stocks traded higher with the Dow Jones gaining around 500 points. Real estate shares surged by 4.6%, while energy shares rose by 0.2%. The U.S. annual inflation rate decreased to 3.2% in October. BioCardia, Inc. (BCDA) soared 206% after FDA approval for a Phase 3 clinical trial. INVO Bioscience, Inc. (INVO) rose 28% after posting a narrower Q3 loss. Theseus Pharmaceuticals, Inc. (THRX) gained 50% after announcing a strategic alternatives exploration process. The Beauty Health Company (SKIN) plunged 60% due to weak Q3 results and a suspended 2025 forecast. Kubient, Inc. (KBNT) dropped 51% after announcing a voluntary delisting from Nasdaq. Applied UV, Inc. (AUVI) fell 44% after pricing a public offering. Oil and gold prices increased.

Portfolio Pulse from Lisa Levin

November 14, 2023 | 6:11 pm

AMZN

PYPL

John Liu, Head of Product Web3/Blockchain at Amazon.com Inc, discussed the potential impact of a Bitcoin ETF, stablecoins, and tokenization on institutional adoption of crypto at Benzinga's Future of Digital Assets Conference. He highlighted the ease a Bitcoin ETF would provide for companies seeking crypto exposure, the efficiency of stablecoins in payments, and the benefits of tokenizing assets for transparency and efficiency. Liu also noted the challenges in scaling blockchain technology and the importance of balancing institutional needs with innovation.

Portfolio Pulse from Adam Eckert

November 14, 2023 | 6:10 pm