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Regulatory

SPY

TSLA

The National Highway Traffic Safety Administration (NHTSA) has issued a special order to Tesla regarding its Autopilot feature. The specifics of the order were not disclosed in the article.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 5:54 pm

GBTC

Deep Knowledge Investing (DKI) has confirmed a rumor that a court has ruled in favor of Grayscale Bitcoin Trust (OTC:GBTC) in its lawsuit against the SEC, paving the way for the conversion of GBTC to an ETF. This is expected to collapse the discount to net asset value (NAV) of GBTC, which has already reduced from 30-40% to 17%. DKI plans to hold GBTC until the NAV discount collapses, then shift those holdings into Bitcoin. DKI's premium subscribers have made a 41% return on GBTC in two months.

Portfolio Pulse from Gary Brode

August 29, 2023 | 5:49 pm

SPY

VGK

The White House has commented on the death of Wagner boss Prigozhin, stating that the Kremlin has a history of killing its opponents. This news was reported by Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 5:44 pm

BMY

The FDA has approved Bristol Myers Squibb Co's (NYSE:BMY) Reblozyl for anemia in adult patients who may require regular red blood cell transfusions. This approval is based on interim results from the Phase 3 COMMANDS trial, demonstrating superior efficacy of Reblozyl over epoetin alfa. The approval comes at a crucial time considering the ongoing discussions about drug pricing negotiations. Projections indicate peak sales for Reblozyl surpassing $4 billion.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 5:40 pm

JAN

Janone has been granted a U.S. patent for the use of its low-dose Naltrexone, Jan123, for treating pain. This broad patent coverage is a significant milestone for the commercial success of Jan123.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 5:34 pm

TSHA

Taysha Gene Therapies has regained compliance with Nasdaq, as per a written notice received from the exchange. This news has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 5:20 pm

ABT

Congressional legislation is being proposed that would require baby formula manufacturers to notify the FDA within 24 hours about product contamination. This comes after an outbreak of cronobacter bacteria last year that resulted in severe baby formula shortages. The shortage was worsened by a recall after four babies got sick from cronobacter after drinking powder formula from an Abbott Laboratories plant. Abbott Laboratories' shares are up 0.50% at $103.27.

Portfolio Pulse from Vandana Singh

August 29, 2023 | 5:20 pm

GBTC

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) shares are trading higher after the U.S. Court of Appeals ruled the SEC was wrong to reject Grayscale Investments' spot Bitcoin ETF application. The court has ordered the SEC to review its rejection of the application from Grayscale to convert its Grayscale Bitcoin Trust (OTC:GBTC) into a spot Bitcoin ETF. Bitcoin is trading up more than 5% and MicroStrategy, the largest institutional holder of Bitcoin, is seeing its shares move higher on above-average trading volume.

Portfolio Pulse from Erica Kollmann

August 29, 2023 | 5:15 pm

SBUX

STLA

UAL

UPS

The U.S. Department of Treasury released a report outlining the economic benefits of unions, stating that they lead to higher wages and better working conditions, benefiting not just union members but also nonunionized companies. The report comes amidst a reinvigorated labor movement across various industries, including United Parcel Service, Inc (UPS), Starbucks Corp (SBUX), United Airlines Holdings Inc (UAL), and Stellantis NV (STLA), which have all dealt with potential strikes and union labor negotiations.

Portfolio Pulse from Aaron Bry

August 29, 2023 | 5:12 pm