Streetbeat News

Regulatory

SPY

Representative Jim Jordan of Ohio is making a bid for the speakership, aiming to unite a Republican Conference in chaos after the ousting of one speaker and blocking another. The move comes after a faction of his supporters forced out former Speaker Kevin McCarthy and refused to back the party's chosen successor, Representative Steve Scalise. If Jordan succeeds, he would be second in line to the presidency. However, mainstream Republicans have concerns about Jordan, with some refusing to support him.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 3:17 pm

PLUG

SPY

The Department of Energy has awarded $7B for Hydrogen Hubs. Plug Power is part of the $925M Appalachian Hub, $1.2B California Hub, and $750M Mid-Atlantic Hydrogen Hub.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 3:10 pm

CEAD

Nasdaq has formally decided to grant CEA Industries Inc a second 180-day compliance period, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 3:05 pm

BTCUSD

SPY

The International Monetary Fund (IMF) has stated that 'important' structural measures are needed for a deal with El Salvador. The IMF also reiterated its stance against Bitcoin as a legal tender, a move that El Salvador has recently adopted.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 2:48 pm

INCY

Incyte (NASDAQ:INCY) has announced new data from the Phase 3 TRuE-AD3 study evaluating the safety and efficacy of ruxolitinib cream (Opzelura®) in children with atopic dermatitis (AD). The study met its primary endpoint with significantly more patients treated with ruxolitinib cream achieving Investigator's Global Assessment Treatment Success (IGA-TS) than patients treated with vehicle control. The cream was well tolerated with no serious infections, major adverse cardiovascular events, malignancies or thromboses reported during the 8-week vehicle-controlled period.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 2:35 pm

BABA

DIDIY

LYFT

SFTBY

UBER

China's largest ride-hailing company, Didi Global Inc., plans to list on the Hong Kong Stock Exchange after being delisted from the New York Stock Exchange last year due to regulatory fines. The company's OTC markets listing is 80% lower than its June 2021 debut price. The planned Hong Kong listing could boost the flagging IPO market. Didi's major investors include Softbank Group Corp.

Portfolio Pulse from Daniel Harrison

October 13, 2023 | 2:33 pm

BPTH

Bio-Path Holdings, Inc. (NASDAQ:BPTH) shares surged over 90% on heavy trading volume, with more than 63.5 million shares traded in the session, significantly above the stock's 100-day average volume of just over 700 thousand shares. The company had previously received a noncompliance notice from Nasdaq due to its share price falling below the $1.00 minimum closing price over the prior 30 consecutive trading days. Bio-Path Holdings has until March 11, 2024, to regain compliance.

Portfolio Pulse from Erica Kollmann

October 13, 2023 | 2:32 pm

HRMY

Harmony Biosciences Holdings Inc (NASDAQ:HRMY) announced topline results from the INTUNE Phase 3 study of pitolisant in patients with idiopathic hypersomnia (IH). Approximately 83% of patients responded positively to the treatment, however, no statistically significant difference was observed between pitolisant and placebo groups on the primary endpoint. The safety profile of pitolisant was consistent with previous findings. HRMY shares are down 36.20% at $19.30.

Portfolio Pulse from Vandana Singh

October 13, 2023 | 2:23 pm

CDTX

MundiPharma and Cidara Therapeutics have received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) for Rezafungin, a treatment for invasive candidiasis in adults. This is a significant step towards the approval of the drug in the European Union.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 2:22 pm

XOM

Exxon Mobil Corp's shares are trading higher due to rising crude oil prices following the U.S. sanctions on two shipping companies for violating the price cap on Russian oil and the Israel-Hamas conflict causing supply uncertainty. The West Texas Intermediate crude oil price surged by over 3.5%, surpassing the $85 per barrel mark. Exxon Mobil, as an energy company, benefits from rising oil prices and supply disruptions as it can sell its oil and gas products at higher prices.

Portfolio Pulse from Henry Khederian

October 13, 2023 | 2:19 pm