Streetbeat News

Regulatory

COIN

Coinbase has argued that the SEC has no authority to pursue its lawsuit against the company because none of the transactions and services it complained about are securities under federal law.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:23 pm

ASRT

Shares of Assertio Holdings Inc (NASDAQ:ASRT) are down after the company withdrew its 2023 financial outlook due to the FDA's approval of a generic version of its drug Indocin by Zydus Lifesciences. Assertio's portfolio includes Indocin suppositories and oral suspension. The company recently reported Q2 sales of $40.99 million, up 13% Y/Y, and an adjusted EPS of $0.19. It also closed the acquisition of Spectrum Pharmaceuticals Inc for $248 million.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 3:23 pm

SPY

USO

VGK

Russia's Deputy Prime Minister Novak has announced that the OPEC+ deal in June has been implemented by more than 100%, with Russia fully committed to the deal.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:22 pm

COIN

Coinbase has clarified that it does not operate as a 'broker' of investment contracts by making wallet software available to users. This comes amid regulatory scrutiny over the role of cryptocurrency exchanges.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:21 pm

ADIL

Adial Pharmaceuticals, Inc. (NASDAQ:ADIL) has announced a 1-for-25 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement and reduce the public float. The reverse split will reduce the number of outstanding shares from approximately 30.5 million to about 1.2 million. The move is intended to make the bid price more attractive to a broader group of investors and maintain the listing of its common stock on the Nasdaq Capital Market.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:21 pm

SPY

The participation rate for July remained steady at 62.6%, matching both the estimate and the prior rate.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:21 pm

EUDA

EUDA Health Holdings Limited has received a notice from Nasdaq stating that the company's listed securities failed to comply with the $35 million market value requirement for continued listing on the Nasdaq Capital Market. The company has been given 180 days to regain compliance. EUDA also does not meet other continued listing standards of the Nasdaq Capital Market. If the company fails to regain compliance, its listed securities may be delisted.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:20 pm

UPC

Universe Pharmaceuticals INC (NASDAQ:UPC) has received a notification from Nasdaq stating that it is not in compliance with the minimum Market Value of Publicly Held Shares (MVPHS) requirement for continued listing on the Nasdaq Global Market. The company has until January 29, 2024, to regain compliance or face potential delisting. The company's business operations are not affected by this notification.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:19 pm

BLTE

Belite Bio, Inc (NASDAQ:BLTE) has received approval from the Human Research Ethics Committee (HREC) to initiate the Phase 3 clinical trial of Tinlarebant for Geographic Atrophy in Australia. Tinlarebant is intended to slow disease progression in patients with Stargardt Disease and Geographic Atrophy in advanced Dry Age-related Macular Degeneration. The drug has been granted Fast Track Designation and Rare Pediatric Disease Designation in the U.S., and Orphan Drug Designation in both the U.S. and Europe.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:16 pm

AAPL

HPQ

SSNLF

Major tech companies Apple Inc, Samsung Electronics Co, and HP Inc have halted new imports of laptops and tablets to India due to a sudden imposition of licensing requirements. The ban disrupts the industry and may lead to delayed product launches or shortages. This move is part of India's efforts to reduce import dependence and foster a tech manufacturing industry. The companies are now seeking to quickly obtain licenses.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 3:14 pm