Streetbeat News

Regulatory

BIDU

Baidu Inc. is among the first companies to receive approval from China for its artificial intelligence models, according to Bloomberg. This approval could potentially boost Baidu's position in the AI industry.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 3:40 pm

RHHBY

The UK's Medicines and Healthcare products Regulatory Agency (MHRA) has approved the National Health Service (NHS) to implement a seven-minute injection for cancer patients using Roche Holdings AG's Tencentriq (atezolizumab). The new method is quicker and more comfortable than the previous 30-minute to one-hour intravenous drug transfusion. The change will benefit approximately 3,600 patients annually in England. The treatment will come at no additional cost to the NHS due to an existing agreement with Roche.

Portfolio Pulse from Vandana Singh

August 30, 2023 | 3:37 pm

BLK

WT

A federal court has ordered the SEC to reconsider its rejection of Grayscale Investments' application to transform its GBTC closed-end fund into a Bitcoin spot ETF. The court stated that the SEC failed to provide sufficient reasoning for approving two Bitcoin futures ETPs while denying Grayscale's Bitcoin spot ETF. The decision does not guarantee SEC approval, but mandates a review of Grayscale's application. Major financial institutions like BlackRock Inc, Fidelity, and WisdomTree Inc are also seeking to launch their own spot Bitcoin ETFs.

Portfolio Pulse from AJ Fabino

August 30, 2023 | 3:13 pm

BTCUSD

GBTC

MARA

Marathon Digital Holdings, Inc. (NASDAQ:MARA) shares are trading lower after gaining more than 15% on Tuesday. The rise was due to a federal court ruling that the SEC was wrong to reject Grayscale Investments' application to convert its Grayscale Bitcoin Trust (OTC:GBTC) into a spot Bitcoin (CRYPTO: BTC) ETF. MARA has seen heavy trading volume and is a top trending ticker on Yahoo! Finance.

Portfolio Pulse from Erica Kollmann

August 30, 2023 | 3:12 pm

SPY

VGK

The White House has announced that Russian President Vladimir Putin and North Korean leader Kim Jung Un have exchanged letters, indicating that high-level discussions may continue in the coming months. The U.S. has expressed concerns over the advancement of arms talks between North Korea and Russia.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 3:09 pm

EWJ

EWY

SPY

VGK

The Japan Coast Guard has reported that North Korea has fired what could be a ballistic missile. This news could potentially impact the geopolitical stability in the region.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 2:51 pm

RUM

Rumble, Inc. has filed for multiple trademarks and patents with the USPTO, including Rumble Subscription, Rumble Sports, Rumble Politics, Rumble Studio, Rumble Gaming, Rumble News, Rumble TV, Rumble Premium, and Rumble +.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 2:50 pm

THTX

Theratechnologies Inc. (NASDAQ:THTX) has announced that all five U.S.-based clinical sites are now enrolling for the Phase 1 clinical trial of sudocetaxel zendusortide, the company's lead investigational peptide drug conjugate for the treatment of cancer. A sixth site in Canada is finalizing its start-up activity. The FDA has granted fast track designation to sudocetaxel zendusortide for the treatment of all sortilin-positive recurrent advanced solid tumors that are refractory to standard therapy.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 2:37 pm

COIN

Coinbase Global, Inc. (NASDAQ: COIN) shares are trading higher following a report that the U.S. federal appeals court ruled the SEC was wrong to reject Grayscale's spot bitcoin ETF application. This ruling could be seen as a positive development for the cryptocurrency industry and could lead to increased optimism among investors, especially those interested in companies operating in the crypto space like Coinbase.

Portfolio Pulse from Henry Khederian

August 30, 2023 | 2:33 pm

SPY

The U.S. Department of the Treasury and the Internal Revenue Service (IRS) have released proposed rules and FAQs on key provisions in the Inflation Reduction Act. The Act's provisions ensure clean energy jobs are well-paying and help build a diverse workforce. The Act's prevailing wage and registered apprenticeship requirements apply to many clean energy tax incentives, including for utility-scale wind, solar, and battery storage projects. If these requirements are met, a taxpayer can claim an enhanced credit or deduction up to five times the regular amount. The proposed rules provide more clarity and direction for employers and workers, incentivize worker-centric practices, and ensure compliance is streamlined.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 2:26 pm