Streetbeat News

Regulatory

SPY

The Securities and Exchange Commission (SEC) has adopted Rule 13f-2 to increase transparency into short selling and an amendment to the CAT NMS Plan for short sale data collection. The rule will require institutional investment managers to report short position data and short activity data for equity securities. The data will be aggregated by security and publicly disseminated via EDGAR. The amendment to the CAT NMS Plan will require each CAT reporting firm that is reporting short sales to indicate when it is asserting use of the bona fide market making exception in Rule 203(b)(2)(iii) of Regulation SHO.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 4:38 pm

NCNA

NuCana plc (NASDAQ:NCNA) presented data from two ongoing clinical studies with NUC-3373 in colorectal cancer at the AACR-NCI-EORTC International Conference. The data showed promising anti-tumor activity and a favorable safety profile. The NuTide:302 study showed that patients receiving NUC-3373-based regimens achieved a longer progression-free survival compared to their first-line treatment with 5-FU-based therapy. The ongoing Phase 2 NuTide:323 study is recruiting well with no new safety signals.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 4:32 pm

SPY

The U.S. Securities and Exchange Commission (SEC) has voted 3-2 to implement new reporting requirements for short sellers. This move is expected to increase transparency in the market.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 4:31 pm

KRON

Kronos Bio, Inc. (NASDAQ:KRON) has announced positive preliminary data from the Phase 1 dose escalation portion of the ongoing Phase 1/2 clinical trial of KB-0742 at the AACR-NCI-EORTC International Conference. KB-0742 is being developed to treat transcriptionally addicted solid tumors. The preliminary analysis included 28 patients who received doses from 10 mg up to 60 mg. KB-0742 demonstrated on-mechanism single agent anti-tumor activity and exhibited a manageable safety profile. The maximum tolerated dose has not yet been identified, and dosing of patients at the 80 mg dose level is underway.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 4:31 pm

TCNNF

Trulieve Cannabis Corp. has filed amended federal tax returns claiming a refund of $143 million for 2019, 2020, and 2021. The company is challenging its tax liability under Section 280E of the Internal Revenue Code, which bans tax deductions for state-licensed medical cannabis businesses. Trulieve also announced the relocation of a medical cannabis dispensary in Melbourne, Florida.

Portfolio Pulse from Jelena Martinovic

October 13, 2023 | 4:28 pm

INTC

NVDA

TSM

Nvidia Corp (NVDA) stock is trading lower amid reports of the U.S. intensifying its semiconductor technology sanctions against China. The U.S. is reportedly closing the leeway that helped Chinese companies access American AI chips. Nvidia supplier Taiwan Semiconductor Manufacturing Company Ltd (TSM) is seeking permanent approval for shipment of U.S. chip equipment to its facility in Nanjing. BofA analyst Vivek Arya reiterated Nvidia as a top pick with a price target of $650 following its updated product pipeline.

Portfolio Pulse from Anusuya Lahiri

October 13, 2023 | 4:10 pm

AMD

INTC

NVDA

Advanced Micro Devices, Inc (AMD) and Nvidia Corp (NVDA) stocks are trading lower amid reports of the U.S. intensifying its semiconductor technology sanctions against China. The U.S. is reportedly closing a loophole that allowed Chinese companies to access American AI chips through overseas units. Analysts indicate a growing potential for AMD and Intel Corp (INTC) despite Nvidia's dominance in the AI GPU market. Nvidia's plans to shift to a one-year release cadence could pose a problem for AMD and Intel, which are still on a two-year release cadence for GPUs and AI accelerators.

Portfolio Pulse from Anusuya Lahiri

October 13, 2023 | 4:07 pm

SPY

U.S. Representative Austin Scott has filed to run for the position of House Speaker, according to Punchbowl News.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 4:06 pm

BGNE

BeiGene's BRUKINSA (zanubrutinib) has received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) for use in relapsed or refractory follicular lymphoma. The CHMP recommends approval for BRUKINSA plus obinutuzumab as a treatment for adult patients who have received at least two prior lines of therapy. If approved, BRUKINSA will be the first and only BTK inhibitor approved for follicular lymphoma.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 3:51 pm

BTI

MO

NFLX

The FDA has banned the sale of menthol Vuse electronic cigarettes and a fruit-flavored nicotine product from Vuse. The products are manufactured by British American Tobacco's Reynolds American business. The FDA is also considering action against the company's tobacco-flavored vapes. Altria Group, which owns a stake in Juul, has also faced scrutiny from the FDA. The rise and fall of Juul is documented in a Netflix documentary.

Portfolio Pulse from Aaron Bry

October 13, 2023 | 3:33 pm