Streetbeat News

Regulatory

CRKN

Crown Electrokinetics Corp. (NASDAQ:CRKN) is urging its shareholders to vote for the proposed amendments in its Form DEF 14A, filed with the SEC on July 21, 2023. The proposals are crucial for Crown's plan to maintain its listing on the Nasdaq Capital Market and fund its future operations and development.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 2:06 pm

ETHUSD

On Wednesday, 5,116.84 Ether (ETH) worth $9,456,434 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -5.47%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 2:05 pm

OM

Outset Medical Inc (NASDAQ:OM) has paused the shipment of TabloCart with Prefiltration, pending the FDA's clearance of a 510(k) the company plans to submit later this month. Despite this, Q2 revenue increased 43.8% to $36.0 million, beating the consensus of $35.18 million. The company reiterated its 2023 revenue guidance range of $144 million-$150 million, but now expects to be at the low end due to the shipment pause. OM shares are down 9.76% at $17.47.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 2:05 pm

BBD

ITUB

SAN

XP

XP Inc (NASDAQ:XP), a Brazilian investment services company, is facing allegations of internal turmoil, unethical practices, and potential implosion, according to a report by Edwin Dorsey, author of 'The Bear Cave'. The report highlights issues such as a toxic management culture, potential regulatory issues, and accounting irregularities. XP's founder, Guilherme Benchimol, has also expressed dissatisfaction with the company's direction. The report also mentions that XP has a significantly higher number of complaints filed against it compared to other financial institutions like Banco Bradesco (NYSE:BBD), Banco Santander (NYSE:SAN), and Itaú Unibanco (NYSE:ITUB).

Portfolio Pulse from Michael Cohen

August 04, 2023 | 2:01 pm

TTOO

T2 Biosystems has received an extension to comply with the Nasdaq listing requirements, causing its shares to trade higher due to increased volatility.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:58 pm

MIRA

Pre-clinical-stage biopharma company, MIRA Pharmaceuticals, has launched its initial public offering on NASDAQ. The company is developing a synthetic THC prescription drug, MIRA1a, to treat anxiety, pain, and cognition disorders without the side effects of cannabis or opioids. If approved by the FDA, MIRA1a could advance the treatment of neuropsychiatric, inflammatory, and neurologic diseases and disorders.

Portfolio Pulse from Nina Zdinjak

August 04, 2023 | 1:56 pm

JOBY

Joby Aviation has announced that they have made significant progress towards bringing their aircraft to market. They have submitted all of their certification plans to the FAA and over two-thirds of them have already been accepted.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:55 pm

TTOO

T2 Biosystems, Inc. (TTOO) shares have surged over 260% in the last five days and over 460% in the last month. The company has been granted an extension by the Nasdaq Hearings Panel to regain compliance with Nasdaq's minimum bid price and market value of listed securities requirements by November 20, 2023. The company is set to report its Q2 financial results on Monday.

Portfolio Pulse from Erica Kollmann

August 04, 2023 | 1:53 pm

XRAY

Dentsply Sirona Inc (NASDAQ:XRAY) reported Q2 adjusted EPS of $0.51, beating the consensus of $0.43, and sales of $1.03 billion, beating the consensus of $992.15 million. The company raised its 2023 net sales outlook by $75 million. However, the company identified a material weakness in internal control over financial reporting. Despite the positive results, XRAY shares are down 4.70%.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 1:47 pm

SPY

The ISM Non-Manufacturing PMI for July came in at 52.7, lower than the estimated 53 and the prior figure of 53.9.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:47 pm