Streetbeat News

Regulatory

TALS

ImmunoFree, Inc. has acquired the rights to FCR001, a cellular therapy product, and the sponsorship of the FREEDOM-1 Study from Talaris Therapeutics (TALS). ImmunoFree will now oversee all remaining close-out activities and the shutdown of the remaining active FREEDOM-1 phase 3 clinical sites. The company plans to commence a new clinical trial with modifications to the protocol to improve patient outcomes.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 5:12 pm

NSRGY

PEP

Nestlé ADR (OTC:NSRGY) has voluntarily recalled its Toll House Chocolate Chip Cookie Dough due to reports of wood chips in the product. The company is working with the FDA and believes the issue is isolated. PepsiCo, Inc. (NYSE:PEP) also recently had a recall due to undeclared allergens in its Doritos product.

Portfolio Pulse from Aaron Bry

August 14, 2023 | 4:39 pm

XLC

XLE

XLF

XLK

XLP

XLU

XLV

XLY

The U.S. retail sales figures for July are expected to show a 0.4% increase, marking the fourth consecutive month of positive growth. This is expected to alleviate concerns of a recession, thanks to a robust labor market and receding inflation. The impact on sector ETFs will depend on the actual sales figures. Higher-than-expected sales may positively influence cyclical sectors like XLE, XLF, and XLY, while lower-than-expected sales may benefit defensive sectors like XLU, XLV, and XLP. Tech-related sectors like XLK and XLC could see mixed impacts.

Portfolio Pulse from Piero Cingari

August 14, 2023 | 3:31 pm

IDAI

T Stamp, a technology company, is set to be issued U.S. Patent Number 11,729,158 titled 'Systems And Methods For Identity Verification Via Third Party Accounts'. The patent will be issued tomorrow.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 3:27 pm

SPY

The New York Federal Reserve's survey of consumers in July indicates that one-year ahead expected inflation is at 3.5%, the lowest since April 2021, compared to June's 3.8%.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 3:01 pm

CORN

FXI

SOYB

WEAT

China's Vice Premier has announced plans to quickly restore damaged farmland, water conservancy, and other infrastructure to ensure accelerated recovery of agricultural production. The aim is to ensure stable and increased grain output.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 2:38 pm

BLK

BTCUSD

Bernstein, a prominent brokerage firm, has highlighted the potential impact of crypto exchange-traded funds (ETFs) on the market, stating that they could account for 10% of Bitcoin's market capitalization within the next two to three years. The firm believes that the next wave of capital influx in the crypto domain will be driven by an increase in stablecoin supply, traditional asset tokenization, native crypto infrastructure tokenization, and ETFs. The SEC is currently evaluating the Ark 21Shares Bitcoin ETF application and examining submissions from BlackRock Inc and Fidelity Investments.

Portfolio Pulse from Murtuza Merchant

August 14, 2023 | 2:33 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

Market makers have hedged for the first time in 2023, which is a significant development as it indicates that some of the fuel that led to the stock market rise this year is now spent. The news of Chinese regulator setting up a task force due to Zhongzhi Enterprise's inability to make payments on high yield investment trusts and Country Garden's difficulty in making payments on some of its bonds led to aggressive buying of U.S. stock futures by the momo crowd. However, smart money took advantage of this strength and started selling. Negative money flows were observed in Amazon, NVIDIA, Microsoft, Alphabet, Meta Platforms, Tesla, and Apple in the early trade, while mixed money flows were seen in SPDR S&P 500 ETF Trust and Invesco QQQ Trust Series 1.

Portfolio Pulse from The Arora Report

August 14, 2023 | 2:29 pm

AAPL

GOOG

QCOM

Chinese tech giant Huawei reported a modest growth in its consumer business amid U.S. sanctions and slower economic recovery. The company's overall revenue rose 4.8% YoY to 178.8 billion yuan in Q2, with consumer business revenue growing only 2.2% YoY to 103.5 billion yuan in H1. Huawei's ICT infrastructure business was the biggest revenue contributor. The company also reported revenue from its EV business and AI model. Despite a struggling smartphone market, Huawei expects its flagship consumer products to return to normalcy this year.

Portfolio Pulse from Upwallstreet

August 14, 2023 | 1:48 pm

AGNPF

ATAI

PSIL

The American Psychedelic Practitioners Association and BrainFutures have published the first-ever professional practice guidelines for psychedelic-assisted therapy. Algernon NeuroScience, a subsidiary of Algernon Pharmaceuticals, has finalized its clinical trial design for a phase 2 DMT stroke study. Atai Life Sciences, MindMed, and COMPASS Pathways have reported their Q2 2023 financial results. AdvisorShares Psychedelics ETF has seen a decrease in its weekly performance.

Portfolio Pulse from Lara Goldstein

August 14, 2023 | 1:47 pm