Streetbeat News

Regulatory

SPY

The Federal Open Market Committee (FOMC) has released the minutes of its meeting held on July 25-26. The document provides insights into the committee's discussions and decisions regarding monetary policy. The SPY ETF, which tracks the S&P 500, may be impacted by these revelations.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 6:01 pm

SPY

The Federal Reserve's minutes revealed that several participants expressed concerns about the risks of inadvertently tightening monetary policy too much, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 6:01 pm

SPY

The Federal Reserve's meeting minutes reveal that most participants believe inflation risks could necessitate further interest rate hikes. This could impact the broader market, including ETFs like SPY.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 6:00 pm

ETHUSD

On Tuesday, 5,481.63 Ether (ETH) worth $9,993,510 was burned from Ethereum transactions. This is a result of the Ethereum blockchain's upgrade known as EIP-1159, which changes the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -5.96%.

Portfolio Pulse from Benzinga Insights

August 16, 2023 | 6:00 pm

TTOO

T2 Biosystems, Inc. (NASDAQ:TTOO) shares have been volatile, with the stock up over 16% just after market open, but later trading down nearly 10% for the day. Despite the day's drop, the stock remains up 54% over the last five days and up more than 375% over the last month. The company regained compliance with the Nasdaq market value of listed securities (MVLS) requirement on Aug. 7, but must still demonstrate compliance with Nasdaq minimum bid price rule by November 20, 2023.

Portfolio Pulse from Erica Kollmann

August 16, 2023 | 4:54 pm

MITK

Mitek Systems, Inc. (NASDAQ:MITK) has received a notice from Nasdaq stating that it is not in compliance with Nasdaq's continued listing requirements due to its failure to file its Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, in a timely manner. This serves as an additional basis for delisting the company's securities from Nasdaq. Mitek has already filed its Annual Report on Form 10-K for the period ended September 30, 2022, and intends to file the Q1, Q2, and Q3 Form 10-Q as promptly as possible to regain compliance.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:50 pm

ACI

KR

Secretaries of State for seven U.S. states have written to FTC Chair Khan to express their opposition to Kroger's proposed $24.6B acquisition of Albertsons.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:38 pm

INTC

NVDA

TSEM

Semiconductor stocks are trading lower ahead of NVIDIA's quarterly results. Tower Semiconductor and Intel shares fell after their merger agreement was terminated due to lack of Chinese regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 4:36 pm

TSLA

The Texas Public Utility Commission has approved a plan to mandate the use of Tesla's technology for electric vehicle (EV) chargers, despite opposition. This decision could potentially increase the demand for Tesla's EV chargers and its related technology.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:17 pm

BMY

Bristol Myers Squibb & Co (NYSE:BMY) announced updated results from a TRIDENT-1 study, showing that repotrectinib, a next-generation ROS1/TRK tyrosine kinase inhibitor (TKI), continued to show high response rates and durable responses in patients with metastatic non-small cell lung cancer. The U.S. FDA accepted the New Drug Application for repotrectinib and granted Priority Review. The study remains ongoing to assess long-term outcomes and additional endpoints.

Portfolio Pulse from Vandana Singh

August 16, 2023 | 4:13 pm