Streetbeat News

Regulatory

SPY

Federal Reserve's Patrick Harker stated that there's always a chance of recession, but he does not anticipate a downturn in the near future. This statement could influence the performance of the SPY ETF, which tracks the S&P 500 and is often used as a barometer of the overall U.S. economy.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:38 pm

ASLN

ASLAN Pharmaceuticals presented new data from a Phase 2b study of Eblasakimab in Atopic Dermatitis at the 32nd European Academy of Dermatology and Venereology Congress. The data shows Eblasakimab's potential as the first biologic in moderate-to-severe atopic dermatitis with a competitive efficacy profile with once-monthly dosing. A post-hoc analysis of patients with severe disease showed a 74.5% reduction in EASI score with 600 mg Eblasakimab for 16 weeks.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:31 pm

EH

EHang Holdings (NASDAQ:EH) shares are trading higher after the company obtained a type certificate for the EH216-S passenger-carrying UAV system issued by the Civil Aviation Administration of China. The certificate simplifies the company's ability to get similar certificates for commercial operation in the U.S., Europe, and Southeast Asia. The company plans to expand overseas next year.

Portfolio Pulse from Nabaparna Bhattacharya

October 13, 2023 | 1:18 pm

SPY

Philadelphia Federal Reserve President Patrick Harker has advocated for holding interest rates steady, stating that the central bank has made substantial progress in controlling inflation without causing a surge in unemployment. Harker, a voting member of the rate-setting Federal Open Market Committee, believes that the current restrictive policy rates will continue to press down on inflation and bring markets into balance. Despite recent inflation rates remaining above the Fed's 2% annual target, Harker emphasized the need for patience and caution with the data.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:15 pm

PFE

The U.S. FDA has approved Pfizer's VELSIPITY for adults with moderately to severely active ulcerative colitis. The approval is based on favorable safety and efficacy data from the ELEVATE UC Phase 3 trials.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:05 pm

NVVE

Nuvve Holding Corp. (NASDAQ:NVVE) has been granted a new European patent for its vehicle-to-grid (V2G) technology. The company's V2G patents include comprehensive solutions for the control of power flow to electric vehicles and the grid, management of EV charging, and calculation of available power capacity of aggregated EVs. Nuvve's V2G patent portfolio extends globally, with coverage across a wide array of European countries.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:46 pm

COIN

Coinbase Global Inc. (NASDAQ:COIN) has expressed concerns over a new tax proposal by the U.S. Internal Revenue Service (IRS) that seeks to define crypto brokers and guide them on tax compliance. Coinbase views the proposal as a threat to the cryptocurrency industry and an infringement on the privacy of U.S. citizens. The company has requested the IRS to amend the proposal, limiting compliance requirements to parties directly involved in digital asset transactions.

Portfolio Pulse from Benzinga Neuro

October 13, 2023 | 12:42 pm

SNDL

SunStream Bancorp has announced a court order granting the sale of certain assets of Greenpeak Industries and affiliated entities, Skymint, to Skymint Acquisition Co., a designee entity of Tropics LP, fully owned by an affiliate of Sunstream and sponsored by SNDL Inc. The sale is part of Skymint's ongoing restructuring and is expected to close in Q1 2024, subject to regulatory approval. The assets include 21 retail leases with dispensaries that produced annualized sales of approximately $68 million in September 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:42 pm

NTLA

Intellia Therapeutics has received Priority Medicines designation from the European Medicines Agency for NTLA-2002, an investigational in vivo CRISPR genome editing treatment for Hereditary Angioedema.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:40 pm

DG

EH

JD

EHang has obtained a type certificate for its EH216-S Passenger-Carrying UAV System from the Civil Aviation Administration of China. Dollar General shares are trading higher after the company updated its financial guidance for FY23 and announced Todd Vasos as the new CEO. JD.com shares are trading lower due to rumors of an arrest of a businessman with the same surname as the company's chairman and multiple analysts downgrading the stock and lowering their price targets.

Portfolio Pulse from ryanfaloona@benzinga.com

October 13, 2023 | 12:39 pm