Streetbeat News

Regulatory

NVAX

NovaVax anticipates that the U.S. Centers for Disease Control and Prevention (CDC) will soon issue updated recommendations for the use of its vaccine.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 6:42 pm

NVAX

The U.S. FDA has authorized the first and only protein-based non-mRNA updated Covid-19 vaccine for use in people aged 12 years and older. The vaccine is likely produced by Novavax (NVAX).

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 6:41 pm

BTCUSD

CELUSD

ETHUSD

The potential successor to the defunct cryptocurrency lender, Celsius (CRYPTO: CEL), plans to restart the business with an initial funding of up to $450 million in cryptocurrency, pending court approval. The entity, temporarily named NewCo, aims to commence reimbursement to clients with assets locked following Celsius's downfall in June 2022. The investment group Fahrenheit will oversee NewCo's operations and has pledged an investment of up to $50 million for an equity position in the venture. NewCo also plans to be publicly traded on the Nasdaq.

Portfolio Pulse from Murtuza Merchant

October 03, 2023 | 6:37 pm

ALXO

OCEA

PNT

SDC

VERY

U.S. stocks fell with the S&P 500 dropping around 1.5% on Tuesday. Job openings increased by 690,000 to 9.61 million in August. Vericity, Inc. (VERY) shares rose 86% after iA Financial Group announced its acquisition. POINT Biopharma Global Inc. (PNT) shares rose 85% after Eli Lilly And Co (LLY) agreed to acquire it. ALX Oncology Holdings Inc. (ALXO) shares rose 50% after releasing interim Phase 2 data. SmileDirectClub, Inc. (SDC) shares dropped 41% after receiving a delisting notice from Nasdaq. Ocean Biomedical, Inc. (OCEA) shares fell 28% after announcing its cancer-targeting immunotherapy antibody candidate results. WeWork Inc. (WE) shares fell 23% after opting not to make aggregate interest payments.

Portfolio Pulse from Lisa Levin

October 03, 2023 | 6:36 pm

SPY

U.S. Republican lawmakers are making moves to block any attempts to oust Kevin McCarthy as Speaker. This political development could potentially impact the overall market sentiment.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 6:33 pm

AAPL

AMZN

MSFT

TGT

Amazon is under scrutiny for a secret algorithm, 'Project Nessie', allegedly used to manipulate prices. The FTC has included these allegations in its monopoly lawsuit against Amazon. The algorithm, no longer in use, was reportedly instrumental in enhancing Amazon's profits. It also led competitors to inflate their prices. When competitors like Target offered discounts, Amazon would match these lower prices. The FTC indicates that Project Nessie 'extracted' a significant amount from American households and generated an undisclosed amount of 'excess profit' for Amazon.

Portfolio Pulse from Anusuya Lahiri

October 03, 2023 | 6:29 pm

FXI

SPY

The U.S. Justice Department has announced eight indictments against China-based chemical manufacturing companies and their employees. The specific companies and the nature of the indictments were not disclosed in the news.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 6:16 pm

FXI

SPY

The U.S. Treasury is targeting a China-based network that is manufacturing and distributing Fentanyl, according to a statement cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2023 | 6:15 pm

ETHUSD

A total of 3,460.08 Ether (ETH) worth $5,729,608 was burned from Ethereum transactions on Monday. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and includes a variable base fee that is burned, permanently removing it from circulation. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether was -1.87% yesterday.

Portfolio Pulse from Benzinga Insights

October 03, 2023 | 6:00 pm

MSFT

Microsoft shares are trading lower due to a general stock sell-off amid rising yields. UK regulator Ofcom is reportedly advocating for an antitrust probe into Amazon and Microsoft's UK cloud computing market share.

Portfolio Pulse from Bill Haddad

October 03, 2023 | 5:52 pm