Streetbeat News

Regulatory

SPY

Federal Reserve's Neel Kashkari has expressed surprise at the resilience of the economy, but noted that inflation is still too high. He feels good about the progress on inflation, but questions whether enough has been done or if more action is needed.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:07 pm

SYBX

Synlogic has been granted U.S. Patent #11723932, which pertains to microorganisms programmed to produce immune modulators and anti-cancer therapeutics in tumor cells. This could potentially lead to advancements in cancer treatment.

Portfolio Pulse from Charles Gross

August 15, 2023 | 3:01 pm

BABA

JD

NIO

TME

TSLA

The People's Bank of China has reduced the one-year medium-term lending facility rates by 15 basis points to 2.5% in response to economic challenges. This move has led to a decline in the Chinese yuan and U.S.-listed Chinese equities. Goldman Sachs has revised its short-term monetary outlook, predicting further easing measures in China.

Portfolio Pulse from Piero Cingari

August 15, 2023 | 2:57 pm

BABA

Alibaba Group Holding Ltd (NYSE:BABA) shares are trading lower following weak industrial production and retail sales data for July in China. The People's Bank of China cut rates, escalating fears about the country's economic health. Alibaba has already faced increased regulatory scrutiny in China, and these economic concerns could further dampen investor confidence in the company's future prospects.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 2:52 pm

FXLV

F45 Training Holdings Inc (NASDAQ:FXLV) announced its intention to voluntarily delist and deregister its securities, leading to a 76% drop in its stock price. The company received a NYSE non-compliance notice due to delayed filings and a sub-$1.00 average stock price over 30 days. F45 is opting for cost-efficiency and focusing on core operations and growth by going private.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 2:50 pm

USDC-USD

Decentralized marketplace Archblock has launched a tokenized U.S. Treasury Bills fund on its platform. The fund, managed by Adapt3r Digital LLC, aims to provide global USDC holders and on-chain investors with liquidity and access to short-term U.S. Treasury Bill yields. Archblock's CIO, Bill Wolf, highlighted the advantages of blockchain in asset management and emphasized the company's mission to simplify asset management.

Portfolio Pulse from Murtuza Merchant

August 15, 2023 | 2:39 pm

BTCUSD

Jacobi Asset Management has listed Europe's first spot Bitcoin ETF on Euronext Amsterdam, nearly two years after its initial approval. The ETF integrates a Renewable Energy Certificate (REC) solution, allowing institutional investors to meet their ESG targets while investing in Bitcoin. The fund directly owns the underlying asset, unlike other European offerings that are debt instruments.

Portfolio Pulse from Murtuza Merchant

August 15, 2023 | 2:34 pm

FXI

INDA

China and India have agreed to maintain peace and tranquility on the ground in the border areas, according to China's Defence Ministry. The two countries have also agreed to resolve remaining issues in an expeditious manner.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 2:18 pm

TLSA

Tiziana Life Sciences, Ltd (NASDAQ:TLSA) stock is trading higher after the FDA cleared the Investigational New Drug (IND) application for intranasal foralumab to be studied in Alzheimer's disease. The company has received FDA clearance to advance its intranasal foralumab preparation into Phase 2 human clinical trials. The stock has seen heavy trading volume with more than 21.25 million shares traded in the session, compared to the stock's 100-day average of only 126,248 shares.

Portfolio Pulse from Erica Kollmann

August 15, 2023 | 2:16 pm

DCTH

Delcath Systems Inc's shares are surging after the FDA approved its HEPZATO KIT for the treatment of a rare form of metastatic cancer. Following the approval, Canaccord Genuity analyst Arlinda Lee maintained a Buy rating for Delcath and raised the price target from $14 to $18.

Portfolio Pulse from Adam Eckert

August 15, 2023 | 2:13 pm