Streetbeat News

Regulatory

HSDT

Helius Medical Technologies is challenging the CMS reimbursement determination for its PoNS Mouthpiece set at $2,963.30. The company disagrees with CMS' methods and pricing. The reimbursement for the PoNS Controller has been deferred to the next cycle.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 9:06 pm

EIS

ISRA

USO

Israeli Prime Minister Netanyahu has informed the U.S. that Israel plans to target Iranian military sites rather than nuclear or oil facilities, aiming to prevent a full-scale war. This decision comes after Iran's missile attack on Israel and is intended to avoid influencing the upcoming U.S. elections. The U.S. has responded by deploying the THAAD missile defense system to Israel, underscoring its commitment to Israel's defense.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 8:53 pm

PTCT

PTC Therapeutics announced that the FDA has set a target regulatory action date for its drug Sepiapterin. Additionally, results from a Phase 3 trial have been published in The Lancet.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 8:31 pm

HOTH

Hoth Therapeutics has received a Notice of Allowance for its U.S. patent application regarding the use of Aprepitant for treating Alzheimer's disease. This development could enhance Hoth's intellectual property portfolio and potentially impact its market position.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 8:06 pm

USO

Oil prices fell over 2% as OPEC cut its global oil demand growth forecast for the third consecutive month. West Texas Intermediate crude, tracked by the United States Oil Fund (NYSE:USO), dropped 2.2% to below $74 a barrel. OPEC's revision is due to lower demand expectations and increased Iranian oil production. Concerns about U.S. commitment to restricting Iranian exports and geopolitical tensions in the Middle East could further destabilize energy markets.

Portfolio Pulse from Piero Cingari

October 14, 2024 | 7:57 pm

SPY

Federal Reserve's Waller discusses the current economic situation, highlighting that recent productivity growth is a rebound from previous lows and unsustainable fiscal policy poses a threat. He mentions potential unemployment increases if labor demand continues to drop and emphasizes the importance of maintaining the current economic 'sweet spot'. Waller also comments on the gradual nature of rate cuts and the challenges of returning to 2019 price levels without significant policy changes.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 7:55 pm

GOOGL

Alphabet's Google has signed a deal with Kairos Power to purchase 500 megawatts of power from small modular reactors (SMRs) to meet its growing electricity demand, particularly from AI. The agreement aims to bring the first SMR online by 2030, with more deployments through 2035. This move is part of a broader trend of tech companies investing in nuclear power to address increasing energy needs.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 7:06 pm

ETHE

Ethereum Classic (ETC) is experiencing a price increase due to a broader surge in the cryptocurrency market, driven by political developments in the U.S. that favor crypto-friendly policies. This has led to significant inflows into Bitcoin and Ethereum-related products, boosting interest in altcoins like Ethereum Classic.

Portfolio Pulse from Henry Khederian

October 14, 2024 | 7:05 pm

BA

SPY

Federal Reserve's Waller indicates that October payroll growth may be reduced by 100,000 due to hurricanes and a Boeing strike. He expects payroll gains to moderate and unemployment to rise slightly but remain low. Inflation data is being closely monitored for persistence.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 7:05 pm

SPY

Federal Reserve's Waller suggests a cautious approach to rate cuts, with a gradual reduction over the next year. The current policy rate is restrictive, but could move to a neutral stance if the economy performs as expected. Rapid cuts may occur if inflation drops below 2% or the labor market weakens.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 7:03 pm