Streetbeat News

Regulatory

ADBE

The Competition and Markets Authority has published a notice of termination of extension on the Adobe/Figma deal, according to Reuters.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 4:00 pm

TSLA

The U.S. government's reliance on Elon Musk's companies, SpaceX and Tesla Inc (NASDAQ:TSLA), in areas like space exploration, transportation, and energy is causing concern. Musk's risk-taking nature and influence in geopolitical conflicts present challenges for the government. His power extends beyond business into political discourse, as seen in his recent rebranding of Twitter as 'X'.

Portfolio Pulse from Michael Cohen

August 21, 2023 | 4:00 pm

CALT

Calliditas Therapeutics has received FDA Priority Review for full approval of Nefecon, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 3:59 pm

GILD

The FDA has placed a partial clinical hold on Gilead Sciences Inc's (NASDAQ:GILD) initiation of new patients in U.S. studies evaluating magrolimab to treat acute myeloid leukemia (AML). This follows the discontinuation of Phase 3 ENHANCE study of magrolimab in higher-risk myelodysplastic syndromes (HR-MDS). Gilead is working with regulatory authorities to determine the next steps to release the partial clinical hold.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 3:46 pm

EHang Holdings Limited's shares are trading higher following the announcement that the Civil Aviation Administration of China approved the EHang Unmanned Aircraft Cloud System for UACS trial operations.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2023 | 3:37 pm

EHang Holdings Limited's Unmanned Aircraft Cloud System (UACS) has been approved by the Civil Aviation Administration of China (CAAC) for trial operations. This approval strengthens EHang's foundation for commercial operations following the certification of EH216-S. The UACS will be a crucial component in the commercial operations of EH216-S. EHang shares are trading higher by 9.2% at $18.09.

Portfolio Pulse from Shivani Kumaresan

August 21, 2023 | 3:22 pm

AMZN

DIS

KHC

META

MPW

ODFL

SCU

TSLA

WMT

Meta Platforms is preparing to launch a desktop version of Threads to compete with Elon Musk's X. Amazon has restarted its external shipping service, challenging FedEx and UPS. High-profile investors have presented a competing bid for Sculptor Capital Management. Kraft Heinz plans to offer Lunchables to school cafeterias. Medical Properties Trust's deal with Prospect Medical Holdings is on hold. Tesla has suffered a data breach affecting over 75,000 people. Old Dominion Freight Line has offered $1.5 billion to acquire Yellow Corp's terminals. General Motors' Cruise is under investigation after a collision. DuPont is in talks to sell its Delrin resins unit. Disney is in a legal battle with Florida Governor Ron DeSantis. Goldman Sachs faces potential lawsuits over the 1MDB scandal. Citigroup is considering splitting its largest division. Walmart and Centric Brands are examining their Cambodian supply chains. US Steel denies union veto rights in company sale.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 3:17 pm

ACHR

ARKK

STLA

UAL

Archer Aviation Inc. (ACHR) shares are moving higher due to positive business updates and investments. The company's Midnight eVTOL aircraft received its Special Airworthiness Certificate from the FAA and will begin flight test operations. Archer also announced a $215 million equity investment and collaboration with Stellantis NV (STLA), Boeing Co. (BA), and United Airlines Holdings (UAL). Cathie Wood's ARKK Innovation ETF (ARKK) purchased more than $20 million worth of ACHR shares.

Portfolio Pulse from Erica Kollmann

August 21, 2023 | 3:11 pm

The U.S. auto safety regulators are investigating Ford Motor Company's (NYSE:F) recall of nearly 49,000 Ford Mustang Mach-E electric vehicles last year to understand if the company had adequately addressed concerns. The regulators are also investigating whether the recall should be expanded to more vehicles. Ford is cooperating with the investigation.

Portfolio Pulse from Nabaparna Bhattacharya

August 21, 2023 | 2:41 pm

KRYS

Krystal Biotech (NASDAQ:KRYS) has sold its Rare Pediatric Disease Priority Review Voucher (PRV) for $100 million. The PRV was awarded following the FDA's accelerated approval of Vyjuvek, a treatment for dystrophic epidermolysis bullosa (DEB). The company estimates about 3,000 total DEB patients in the U.S. KRYS shares are trading higher by 0.15% to $119.58.

Portfolio Pulse from Nabaparna Bhattacharya

August 21, 2023 | 2:39 pm