Streetbeat News

Regulatory

JPM

The U.S. inflation report by the Bureau of Labor Statistics is expected to show a continuation of the disinflation trend in July, with a potential surprise due to the base effect. Bloomberg economists predict the annual CPI rate to rise from 3% to 3.3% in July, with core inflation remaining steady at 4.8% year-over-year. BNP Paribas and J.P. Morgan Chase & Co. (NYSE:JPM) also provided their projections, with both expecting a slight uptick in inflation.

Portfolio Pulse from Piero Cingari

August 08, 2023 | 4:58 pm

FXI

SPY

U.S. lawmakers have requested the Federal Communications Commission (FCC) to address potential threats from Chinese cellular Internet of Things (IoT) modules in U.S. networks.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 4:48 pm

YELL

The Teamsters Union is urging Congress, the White House, and the Federal Government to pass new legislation that prioritizes workers in the corporate bankruptcy process. This call comes in the wake of Yellow Corp's filing for Chapter 11 bankruptcy.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 4:39 pm

AXON

DGLY

OLN

RGR

SWBI

VSTO

The U.S. Supreme Court has reinstated the Biden administration's restrictions on privately-made 'ghost guns'. This decision could impact the firearms industry, including companies such as Axon Enterprise Inc (AXON), Digital Ally Inc. (DGLY), Olin Corporation (OLN), Sturm, Ruger & Company, Inc. (RGR), Smith & Wesson Brands, Inc. (SWBI), and Vista Outdoor Inc. (VSTO).

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 4:33 pm

GILT

Gilat Satellite Networks Ltd. (NASDAQ:GILT) reported a 22% YoY revenue growth in Q2 FY23, beating consensus estimates. The company also reported higher non-GAAP operating income and EPS. Gilat's CEO highlighted the expansion in their in-flight connectivity business and the progress in obtaining regulatory approvals for the acquisition of DataPath Inc. The company raised its FY23 revenue and operating income guidance.

Portfolio Pulse from Anusuya Lahiri

August 08, 2023 | 4:22 pm

DRUG

Bright Minds Bioscience (NASDAQ:DRUG) announced positive results from its quantitative EEG study, causing its stock to surge 91%. The Phase 1 study showed positive data regarding BMB-101's safety and tolerability profile. The compound demonstrated central target engagement and predictable plasma pharmacokinetics. The company plans to apply with the FDA to advance to Phase 2.

Portfolio Pulse from Lara Goldstein

August 08, 2023 | 4:19 pm

SPY

USO

The U.S. Energy Information Administration (EIA) has revised its forecast for U.S. crude oil production, now expecting it to rise by 330,000 barrels/day to 13.09 million barrels/day in 2024. This is an increase from the previously forecasted rise of 290,000 barrels/day.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 4:12 pm

SPY

USO

The U.S. Energy Information Administration (EIA) has revised its forecast for U.S. crude oil production, predicting an increase of 850,000 barrels per day to 12.76 million barrels in 2023. This is a significant increase from the previously forecasted rise of 670,000 barrels per day.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 4:11 pm

SEAC

SeaChange International has announced a voluntary deregistration with the SEC and delisting from Nasdaq. This has led to a decrease in the company's share price.

Portfolio Pulse from Bill Haddad

August 08, 2023 | 3:48 pm

XBIT

XBiotech Inc. has started treating the first patient in a phase II clinical study to evaluate Natrunix as a new treatment for Arthritis. The study is double-blind, placebo-controlled, and randomized. Natrunix is a monoclonal antibody that neutralizes the action of interleukin-1, a potent inflammation-causing substance. The study will enroll approximately 210 subjects into three different arms. All subjects will receive methotrexate and be randomized to receive either one of two doses of Natrunix or placebo.

Portfolio Pulse from Happy Mohamed

August 08, 2023 | 3:48 pm