Streetbeat News

Regulatory

KA

Kineta Inc has regained compliance with the alternative standard under Nasdaq Listing Rule 5550(B)(1), according to a written notice from Nasdaq received on August 15.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 8:03 pm

HE

Hawaiian Electric (HE) is reportedly in discussions with financial restructuring firms, according to sources cited by the Wall Street Journal. The specifics of the restructuring and the potential impact on the company's financial health are not yet clear.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 7:43 pm

JNJ

MRK

PFE

The 5th Circuit Court of Appeals has ruled to prohibit access to the abortion pill, mifepristone, in a case against the FDA. The ruling will not take effect until the Supreme Court weighs in, potentially next year. This could increase demand for birth control pills from companies like Pfizer Inc, Merck & Co Inc, and Johnson & Johnson.

Portfolio Pulse from Aaron Bry

August 16, 2023 | 7:23 pm

INTC

TSEM

Intel Corporation (NASDAQ:INTC) and Tower Semiconductor (NASDAQ:TSEM) have terminated their pending merger agreement due to failure to secure necessary regulatory approvals. Despite this, Intel's CEO expressed positive sentiment towards Tower and the possibility of future collaborations. Intel's stock price fell by 2.56% following the news.

Portfolio Pulse from Ryan Gustafson

August 16, 2023 | 7:19 pm

CYBN

Clinical-stage biotech company Cybin Inc. (NYSE:CYBN) has received a U.S. patent for deuterated tryptamines, including the novel psilocybin analog in the company’s CYB003 investigational program and novel DMT analog in its CYB004 program. The patent is expected to provide exclusivity until 2041 and covers methods of treating Major Depressive Disorder (MDD) and Treatment-Resistant Depression (TRD). Private biopharma company Psilera Inc. has received a USPTO notice of allowance for its filed patent application around novel compositions of matter and pharmaceutical compositions.

Portfolio Pulse from Lara Goldstein

August 16, 2023 | 7:16 pm

KHC

TSN

Republicans and Democrats are in agreement that the 'checkoff programs', which promote American dairy, beef and other agricultural industries, need reform. These programs are said to unfairly benefit larger corporations like Kraft Heinz Co and Tyson Foods Inc, leading to consolidation that adversely affects smaller farmers. Despite bipartisan support for reform, some politicians, who receive significant campaign donations from the big-ag industry, oppose the change.

Portfolio Pulse from Aaron Bry

August 16, 2023 | 6:46 pm

AMZN

Amazon.com Inc (NASDAQ:AMZN) is introducing a new 2% fee for third-party sellers who manage their own shipping, set to begin in October. This is in addition to the 15% commission these merchants already pay to sell their goods on Amazon's marketplace. The new fee is seen as a tactic to coerce merchants into adopting Amazon's logistics services. The move comes as Amazon faces a potential antitrust lawsuit from the U.S. government.

Portfolio Pulse from Anusuya Lahiri

August 16, 2023 | 6:37 pm

PRGO

The U.S. Appeals Court has ruled to restrict access to the abortion pill Mifepristone. This decision could potentially impact the sales of the drug, which is produced by Perrigo Company plc (PRGO).

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 6:34 pm

QQQ

SPY

UUP

The Federal Open Market Committee (FOMC) meeting minutes reveal a divide among members regarding future interest rate hikes. While most participants see significant upside risks to inflation, requiring further tightening of monetary policy, some favor leaving the target range for the federal funds rate unchanged. The minutes also noted downside risks to economic activity and upside risks to unemployment. Following the release of the minutes, the market slightly revised higher chances for a rate hike by November. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) initially declined but recovered losses, while the Invesco DB USD Index Bullish Fund ETF (UUP) spiked and then declined.

Portfolio Pulse from Piero Cingari

August 16, 2023 | 6:29 pm

HE

Hawaiian Electric Industries' shares are trading higher after a recent drop due to scrutiny over the company's decision not to shut off power to reduce fire risks.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 6:27 pm