Streetbeat News

Regulatory

RDHL

Redhill Biopharma Ltd has filed for a stock shelf of up to about 2 million American Depositary Shares (ADS) by selling shareholders, according to a SEC filing.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 8:13 pm

IMCC

IM Cannabis Corp. (NASDAQ:IMCC) has received a notification from Nasdaq for not complying with the minimum bid price requirement. The company's shares have not maintained a minimum bid price of $1.00 per share for 30 consecutive business days. IMCC has until January 29, 2024, to regain compliance or it may face delisting. The notification does not affect the company's listing on the Canadian Securities Exchange.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 8:03 pm

BAC

JPM

Economists at JPMorgan Chase & Co. have discarded their previous prediction of an impending recession in the United States, aligning with an increasing number of analysts who believe the economy will dodge a downturn. The bank’s economists now anticipate sustained economic growth this year, followed by a period of “modest, sub-par growth” in 2024. Despite the optimistic outlook, the risk of a downturn is still very elevated, especially if the Federal Reserve continues to increase interest rates. Earlier this week, Bank of America Corp. also revised its forecast, reflecting a growing optimism about the economic outlook.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 7:31 pm

GOOG

GOOGL

A federal judge has narrowed the scope of the antitrust lawsuit against Google Search, ahead of the trial. The judge dismissed some of the claims but allowed the case to proceed on the core issue of Google's alleged monopolistic practices.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 6:27 pm

ETHUSD

A total of 4,760.98 Ether (ETH) worth $8,767,440 was burned from Ethereum transactions on Thursday. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and includes a variable base fee that is burned, permanently removing it from circulation. 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 was -4.80% yesterday.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 6:00 pm

CRLBF

GTBIF

VRNOF

Illinois' cannabis retailers sold $140 million in weed products in July 2023, setting a new record. The state collected $36 million in tax revenue from Wisconsin residents alone. Governor Pritzker noted that cannabis legalization has resulted in the creation of more than 30,000 jobs in Illinois over the past two years. Major companies in the state's cannabis industry include Cresco Labs Inc, Verano Holdings Corp., Green Thumb Industries, and PharmaCann. Illinois' weed sales reached $1.5 billion in 2022, and 2023 is on track to meet or exceed that record.

Portfolio Pulse from Maureen Meehan

August 04, 2023 | 5:54 pm

DCTH

Delcath Systems' website shows that the FDA has approved its HEPZATO Kit, causing a spike in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 5:18 pm

SPY

The July jobs report showed a gain of 187,000 jobs, falling short of the expected 200,000, and a drop in unemployment rate to 3.5%. Wages also saw solid growth, increasing by 0.4% month-on-month and 4.4% year-over-year. The SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.7% on Friday. Five economists provided their insights on the report, with some expressing optimism and others pointing out areas of concern. The report's implications for the Federal Reserve's future actions were also discussed.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 5:02 pm

COUR

ENVA

HCA

The article discusses key economic indicators and earnings reports of three companies. The Federal Reserve has raised interest rates to a 22-year high, but this is in line with long-term trends. The 2Q GDP was up 2.4%, beating the 1.5% estimate. PMI data indicates potential stagflation. Enova International ($ENVA) reported a 22% revenue growth, beating estimates, and loan originations above $1B. HCA Healthcare ($HCA) reported a 7% revenue increase, beating estimates, and raised guidance for revenue, EBITDA, and EPS. Coursera ($COUR) reported a 23% revenue increase, beating guidance and estimates, and raised 2023 revenue guidance.

Portfolio Pulse from Gary Brode

August 04, 2023 | 4:38 pm

BTCUSD

GBTC

Deep Knowledge Investing's July 2023 report discusses key issues affecting the investment landscape. Major institutional firms including BlackRock, Bitwise, Invesco, Deutsche Bank, WisdomTree, and Fidelity have filed for Bitcoin ETFs, which could impact the Grayscale Bitcoin Trust (GBTC). The report also discusses mixed economic data, potential issues with the VIX, the possibility of a BRICS currency, and Japan's financial problems. The report concludes with a positive outlook on the younger generation in finance.

Portfolio Pulse from Gary Brode

August 04, 2023 | 4:26 pm