Streetbeat News

Regulatory

MBRX

Moleculin Biotech, Inc. (NASDAQ:MBRX) has announced the successful completion of the Phase 1B portion of its Annamycin clinical trial for the treatment of AML and the opening of the Phase 2 portion for recruitment. The company also reported preliminary efficacy data on its Phase 1B/2 clinical trial with Annamycin in monotherapy treatment of soft tissue sarcoma metastasized to the lungs. Multiple milestones and interim data readouts are expected in 2023.

Portfolio Pulse from Happy Mohamed

August 10, 2023 | 8:59 pm

CELH

PEP

Logan Paul, co-founder of PRIME, defended the brand's caffeine content and marketing strategy amid criticism and potential government intervention. PRIME Energy, one of the brand's drinks, contains 200 mg of caffeine per 12-ounce serving, which is comparable to other market competitors like Gatorade’s Fast Switch and Celsius Holdings, Inc. Major beverage companies, including PepsiCo, Inc and Gatorade, are also introducing their caffeinated beverages. The FDA is reviewing a letter from Senator Schumer about PRIME.

Portfolio Pulse from AJ Fabino

August 10, 2023 | 8:54 pm

SFT

Shift Technologies has announced that the review of strategic alternatives process established by its board is still ongoing.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 8:48 pm

CMDY

The annual inflation rate in the U.S. ticked up to 3.2% in July, slightly below the anticipated 3.3%. The focus now shifts to the producer price index (PPI) inflation gauge due for release on Friday. Economists predict a 0.7% increase in the annual PPI for July, breaking a 12-month decline. The Bloomberg Commodity Index, tracked by the iShares Bloomberg Roll Select Commodity Strategy ETF (CMDY), surged almost 6% in July, potentially impacting the PPI as commodities make up about 30% of the PPI basket. However, investors believe the Federal Reserve is about to end its rate-tightening campaign.

Portfolio Pulse from Piero Cingari

August 10, 2023 | 8:41 pm

ABC

CAH

JNJ

MCK

MNK

SPY

TEVA

The Supreme Court has blocked Purdue Pharma's $6 billion settlement related to the opioid crisis. This could potentially impact the financial situation of the company and its stakeholders.

Portfolio Pulse from Charles Gross

August 10, 2023 | 8:34 pm

ABNB

BKNG

REK

Airbnb (NASDAQ:ABNB) is facing city restrictions in various jurisdictions, including New York, New Orleans, and Dallas, which could impact its bottom line. These restrictions are driven by the belief that short-term rentals contribute to the housing crisis. Despite this, Airbnb's stock has climbed over 60% in 2023, and Q2 earnings beat analyst expectations with an 18% revenue increase. However, shares dropped 2.1% in the five trading days post-results. The restrictions could also affect competitor Booking Holdings Inc (NASDAQ:BKNG). ProShares Short Real Estate (NYSE:REK) was up 0.49% to $20.19 on Thursday.

Portfolio Pulse from Natan Ponieman

August 10, 2023 | 8:15 pm

FXI

SPY

VGK

President Biden has requested approximately $40 billion in supplemental funding from the U.S. Congress. The funds are intended for Ukraine aid, disaster relief, efforts to counteract China, and combating the Fentanyl crisis.

Portfolio Pulse from Charles Gross

August 10, 2023 | 7:05 pm

XRPUSD

The Bank for International Settlements (BIS) has launched a new initiative, the Payments Interoperability and Extension (PIE) task force, to improve cross-border transactions. Blockchain-powered payment platform Ripple (CRYPTO: XRP) will participate in the task force, alongside other major entities like Mastercard Inc (NYSE:MA). The task force aims to enhance accessibility to payment systems, extend their operational hours, and establish connections among various payment systems.

Portfolio Pulse from Murtuza Merchant

August 10, 2023 | 7:03 pm

AMRS

BABA

CPRI

EDBL

GRTX

HLLY

ORGN

Alibaba Group Holding Limited (BABA) reported better-than-expected first-quarter financial results with a 14% YoY revenue growth to $32.29 billion. Edible Garden AG Incorporated (EDBL), Capri Holdings Limited (CPRI), and Holley Inc. (HLLY) also posted upbeat results. However, Galera Therapeutics, Inc. (GRTX) shares dropped after receiving a Complete Response Letter from the FDA, Amyris, Inc. (AMRS) filed for Chapter 11 bankruptcy, and Origin Materials, Inc. (ORGN) reported mixed results.

Portfolio Pulse from Lisa Levin

August 10, 2023 | 6:53 pm

BTCUSD

A report from KPMG suggests that Bitcoin (BTC) could play a significant role in promoting renewable energy. The report reveals that Bitcoin miners are increasingly turning to renewable energy sources due to their cost-effectiveness. Bitcoin's energy consumption, which is often criticized, is not as alarming when put into perspective. The cryptocurrency could potentially drive further innovations and investments in the renewable energy sector.

Portfolio Pulse from Jose Rodrigo Safdiye

August 10, 2023 | 6:45 pm