Streetbeat News

Regulatory

SPY

Chicago Fed President Goolsbee has indicated that if the Federal Reserve sees a lack of progress on the price side, it will have to raise restraint. This statement suggests potential changes in monetary policy that could impact the market.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:36 pm

AAPL

Apple Inc. has appealed to the U.S. Supreme Court to overturn a lower court's decision in favor of Epic Games, which had accused Apple of anti-competitive practices in its App Store.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:26 pm

MRMD

MariMed's CEO, Jon Levine, discussed the evolving Illinois cannabis market at the Benzinga Cannabis Capital Conference. He acknowledged increased competition in Illinois but remained confident in MariMed's brand strength and quality. Levine also highlighted the potential impact of rescheduling cannabis, stating it would significantly benefit the industry by reducing taxes and promoting profitability. He encouraged investors to consider MariMed's financials, stating their stock is undervalued compared to competitors.

Portfolio Pulse from Nicolás Jose Rodriguez

September 28, 2023 | 1:23 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) has delivered the first ten Class 3 EV Cab Chassis Trucks, invoiced at $630,000, to Randy Marion Automotive Group. These vehicles are part of a 1,000 vehicle order valued at $63 million. An additional 150 units are planned for delivery by the end of 2023, with the remainder to be delivered throughout 2024. The company recently received federal EPA certification and IRS approval as a 'qualified manufacturer', qualifying for up to $7,500 in federal EV tax credits.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:13 pm

LXRX

Lexicon Pharmaceuticals, Inc. (NASDAQ:LXRX) will present a new analysis of clinical trial data for INPEFA® (sotagliflozin) at the Heart Failure Society of America (HFSA) Annual Scientific Meeting. The drug, recently approved by the FDA for the treatment of heart failure, was studied in two Phase 3 cardiovascular outcomes studies. The presentation will focus on the drug's ability to reduce the risk of cardiovascular events in patients with left ventricular hypertrophy without hypertension.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:11 pm

CRIS

Curis' stockholders have approved an amendment to increase the number of authorized shares of the company's capital stock from 232,812,500 to 460,625,000 and common stock from 227,812,500 to 455,625,000. The amendment was filed and became effective on September 26, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:05 pm

RTX

Raytheon Technologies (RTX) has been awarded an $80 million, four-year contract by the National Oceanic and Atmospheric Administration (NOAA) to develop and optimize the nation's water resources prediction capabilities. The project aims to create a climate-ready nation that can respond to weather, water, and climate-dependent events. Raytheon will work with the National Weather Service to innovate its Next Generation Water Model Framework, Flood Inundation Mapping, and Enterprise Hydrofabric Solution.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:04 pm

BCLI

Brainstorm Cell Therapeutics announced that the FDA Advisory Committee voted that its product, NurOwn, did not demonstrate substantial evidence of effectiveness for treatment of mild to moderate ALS. This has led to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:02 pm

AAPL

GOOG

GOOGL

META

Google, Apple, and Meta Platforms are expected to receive approval from US regulators for the deployment of mobile virtual and augmented reality devices. The Federal Communications Commission (FCC) is set to vote on this proposal on October 19. The companies have been seeking access to the 6 GHz band, which is critical for future innovations in augmented and virtual reality. The FCC will also discuss net neutrality rules for broadband providers during its October meeting.

Portfolio Pulse from Vandana Singh

September 28, 2023 | 12:58 pm

EBAY

eBay Inc is facing legal challenges from the U.S. government over alleged breaches of environmental regulations. The charges are related to eBay's role in facilitating the sale of products that violate environmental norms, including over 343,000 'defeat' devices, more than 23,000 unauthorized pesticides, and over 5,600 paint and coating removers containing methylene chloride. eBay could face penalties that could escalate into billions of dollars.

Portfolio Pulse from Shivani Kumaresan

September 28, 2023 | 12:51 pm