Streetbeat News

Regulatory

BTCUSD

Italy plans to increase capital gains taxes on Bitcoin and other cryptocurrencies from 26% to 42% by 2025, causing concern among crypto investors. The tax hike aims to address budget shortfalls and could lead to legal challenges. Bitcoin's price remained unaffected by the news.

Portfolio Pulse from Piero Cingari

October 16, 2024 | 8:13 pm

ACAD

Acadia Pharmaceuticals has received approval from Health Canada for DAYBUE, a treatment for Rett Syndrome. This approval marks a significant milestone for the company, potentially expanding its market reach and revenue opportunities.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 8:09 pm

CERS

Cerus Corporation announced updates on its INTERCEPT RBC programs in the US and Europe. The company will receive additional support from BARDA through a new contract valued at up to $248 million. However, the CE Mark review in Europe concluded without approval, and Cerus is assessing its strategy for future filings.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 8:02 pm

DRCT

Direct Digital Holdings has regained compliance with Nasdaq's listing requirements, which is a positive development for the company and its investors.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 8:01 pm

ASML

NVDA

Nvidia shares are rising on Wednesday, recovering from a sharp decline on Tuesday. The rebound is driven by optimism around AI-related demand, despite recent U.S. policy discussions on AI chip export restrictions and weak guidance from ASML Holding.

Portfolio Pulse from Vaishali Prayag

October 16, 2024 | 6:55 pm

LNVGF

LNVGY

META

NVDA

Lenovo is expanding its AI capabilities outside China by collaborating with Meta and Nvidia. The company introduced AI Now, a personal AI assistant, and announced a partnership with Nvidia for enterprise AI solutions. Lenovo aims to mitigate geopolitical risks and improve supply chain efficiency through AI.

Portfolio Pulse from Anusuya Lahiri

October 16, 2024 | 6:39 pm

JNJ

Johnson & Johnson (JNJ) reported a Q3 adjusted EPS of $2.42, beating expectations despite a 9% decline year-over-year. Sales rose 5.2% to $22.47 billion. The company updated its 2024 EPS guidance, factoring in the V-Wave acquisition. BofA Securities maintains a Neutral rating with a $170 price target, noting strong performance in oncology and potential challenges in the MedTech segment due to market pressures and litigation uncertainties.

Portfolio Pulse from Vandana Singh

October 16, 2024 | 6:31 pm

AAPL

AMD

INTC

NVDA

QCOM

Key lawmakers are advocating for measures to prevent Huawei vendors from accessing US chip-making equipment. This move could impact companies involved in the semiconductor supply chain.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 6:24 pm

TCNNF

Florida's proposed cannabis legalization initiative, Amendment 3, is nearing the required 60% approval for passage. Opposition, including groups linked to Governor Ron DeSantis, is intensifying. Trulieve Cannabis Corp. has contributed significantly to the pro-legalization campaign.

Portfolio Pulse from Maureen Meehan

October 16, 2024 | 6:20 pm

TNXP

Tonix Pharmaceuticals shares rose after the company submitted an NDA for TNX-102 SL to the FDA for fibromyalgia treatment. The drug showed significant pain reduction in Phase 3 studies and received fast-track designation.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2024 | 6:00 pm