Streetbeat News

Regulatory

C

Citigroup Inc. has announced changes to its organizational model, with the leaders of the company's five businesses now reporting directly to the CEO.

Portfolio Pulse from Bill Haddad

September 13, 2023 | 1:08 pm

SPY

UUP

The annual Consumer Price Index (CPI) inflation rate rose from 3.2% in July to 3.7% in August 2023, surpassing economist expectations of a 3.6% increase. The primary driver of the monthly increase was the gasoline index, up 10.6% month-on-month. The core CPI decreased from July’s 4.7% to 4.3% year-on-year in August. The higher-than-expected inflation data has led to speculation about the Federal Reserve's future actions. Prior to the CPI data release, the market had been pricing in a 93% probability the Federal Reserve would refrain from raising interest rates during its Sept. 20 meeting.

Portfolio Pulse from Piero Cingari

September 13, 2023 | 1:04 pm

NKTR

Nektar Therapeutics has announced new statistically significant results from its Phase 1b study of Rezpegaldesleukin in moderate-to-severe atopic dermatitis. The company is also planning a new Phase 2a study for Rezpegaldesleukin in Alopecia Areata.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 1:03 pm

AAPL

NVDA

TSM

Taiwan Semiconductor Manufacturing Company Ltd (TSMC) is facing recruitment and production challenges in its Arizona factory, delaying production to 2025. However, the company is growing confident in Japan, where it plans to produce chips in 2024 and is considering adding capacity for advanced chips. TSMC's expansion in Japan is supported by cultural alignment, government support, and a network of chip equipment suppliers. The company is a key supplier for Apple Inc and Nvidia Corp.

Portfolio Pulse from Anusuya Lahiri

September 13, 2023 | 12:42 pm

LI

NIO

XPEV

Chinese electric vehicle (EV) stocks XPeng Inc (XPEV), NIO Inc (NIO), and Li Auto Inc (LI) are trading lower after the European Union (EU) announced plans to launch an anti-subsidy investigation into Chinese EVs. The investigation reflects the EU's concerns about China's practices in the EV trade and the impact of cheaper Chinese EVs on the EU market. If found guilty, the manufacturers could face punitive tariffs. The EU is also considering measures to improve financing access and auction systems for the wind industry, which faces similar competition challenges from China.

Portfolio Pulse from Anusuya Lahiri

September 13, 2023 | 12:39 pm

OPTT

Ocean Power Technologies (OPT) has responded to a SEC filing made by Paragon Technologies, confirming that Paragon intends to nominate five director candidates to OPT's board.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 12:38 pm

GOOG

GOOGL

The Dutch consumers' association Consumentenbond and the Privacy Protection Foundation have sued Alphabet Inc's Google for alleged large-scale privacy violations. They demand Google to stop its surveillance and sharing of personal data and compensate €750 ($804) in damages for every consumer who has used Google. The lawsuit could force Alphabet to separate its search business from other products.

Portfolio Pulse from Anusuya Lahiri

September 13, 2023 | 12:35 pm

CLVR

Clever Leaves has regained compliance with Nasdaq's minimum bid price requirement. This follows after the company's stock price consistently met or exceeded the $1.00 minimum bid price per share requirement over the past 10 consecutive business days.

Portfolio Pulse from Bill Haddad

September 13, 2023 | 12:35 pm

JAGX

Jaguar Health has announced that it has been granted a new patent in Japan. The patent is for the company's proprietary drug, Mytesi, which is used for the symptomatic relief of noninfectious diarrhea in adults with HIV/AIDS on antiretroviral therapy.

Portfolio Pulse from Bill Haddad

September 13, 2023 | 12:33 pm

IINN

Inspira has announced the 510(k) FDA submission of INSPIRA ART100, with management estimating FDA clearance within approximately 6 months.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 12:32 pm