Streetbeat News

Regulatory

ACB

CGC

A key House committee will consider amendments to a large-scale spending bill that would prevent drug testing of certain federal job applicants for marijuana and end the blockade that has kept Washington, D.C. from legalizing cannabis sales. The amendments were filed to Fiscal Year 2024 appropriations legislation covering Financial Services and General Government (FSGG). The GOP-controlled House Rules Committee, which has rejected numerous drug policy reform measures in recent months, will take up the amendments.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 3:00 pm

SPRC

SciSparc Ltd. (NASDAQ:SPRC) stock is surging after the company announced it received acceptance from the Australian patent office for its patent application for its Combination of Opioids and N-Acylethanolamines for pain treatment. The patent was granted by IP Australia. The company's stock has seen heavy trading volume following the announcement, with over 13 million shares traded in the session, compared to the stock's 100-day average of just over 830 thousand shares. The stock is up 67% at $5.70 at the time of publication.

Portfolio Pulse from Erica Kollmann

October 31, 2023 | 3:00 pm

JBLU

SAVE

The US Justice Department is urging a judge to block JetBlue Airways Corp.'s $3.8 billion deal to acquire Spirit Airlines Inc., arguing that the deal is an attempt to eliminate a low-cost rival and increase ticket prices. The federal government, along with six states and Washington DC, sued last year to block the deal, which they say would limit choices for passengers. JetBlue and Spirit argue that the merger is necessary to compete with larger rivals.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 2:29 pm

SPY

The U.S. Department of the Treasury has announced a new Series I bond rate of 5.27% for the period from November 1 through April 2024. This is an increase from the previous rate of 4.3%.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 2:13 pm

GTBIF

HITI

SHWZ

TCNNF

VRNOF

Wu-Tang Clan's Raekwon, Charlamagne tha God, and a South Carolina civil rights lawyer have been granted a license to expand the Hashstoria dispensary in Newark, which will feature a cannabis consumption lounge. In Florida, Trulieve Cannabis Corp., Verano Holdings Corp., and Green Thumb Industries Inc. have expanded their retail footprint. Trulieve recently donated an additional $500,000 to Florida's ballot initiative to legalize recreational marijuana. Medicine Man Technologies, operating as Schwazze, announced a cannabis store-within-a-store model in Fort Collins. High Tide Inc. launched sales of recreational cannabis products and consumption accessories at its 157th Canna Cabana branded retail cannabis location in Canada.

Portfolio Pulse from Jelena Martinovic

October 31, 2023 | 2:08 pm

SPY

The USA CB Consumer Confidence for October was reported at 102.6, slightly above the estimated 100, but lower than the previous month's 104.3.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 2:00 pm

GRTX

Galera Therapeutics Inc (GRTX) stock is sinking after the FDA reiterated the need for an additional Phase 3 trial of avasopasem manganese for radiotherapy-induced severe oral mucositis. The company also decided to halt the Phase 2b GRECO-2 trial of rucosopasem manganese in patients with locally advanced pancreatic cancer and the Phase 1/2 GRECO-1 trial of rucosopasem in patients with non-small-cell-lung-cancer, following futility analysis of the GRECO-2 trial. The company's shares are down 51.90% at $0.10.

Portfolio Pulse from Vandana Singh

October 31, 2023 | 1:58 pm

SPY

The Chicago Purchasing Managers' Index (PMI) for October came in at 44, lower than the estimated 45 and the prior figure of 44.1. This indicates a contraction in the manufacturing sector in the Chicago region.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 1:45 pm

VVPR

VivoPower International PLC (NASDAQ: VVPR) has approved an action plan to address alleged illegal market manipulation, including false information dissemination and naked short selling of its stock. The company has created a Board-led 'Illegal Market Manipulation Task Force' to work with regulators in identifying and prosecuting those involved in market manipulation of VivoPower shares over the past year. VivoPower has engaged an external forensic investigation firm and specialist UK and US legal counsel.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 1:27 pm

ALNPY

EADSY

RTX

ANA Holdings Inc. plans to inspect Pratt & Whitney's PW1100G-JM engines installed on Airbus SE’s A320neo and A321neo aircraft due to potential issues in the manufacturing of internal engine parts. The inspections will lead to a reduction of approximately 30 flights per day from January to March 2024. RTX Corp, the parent company of Pratt & Whitney, saw its shares close lower by 0.75%.

Portfolio Pulse from Shivani Kumaresan

October 31, 2023 | 1:26 pm