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Regulatory

GNE

Genie Energy Ltd. (NYSE:GNE) announced that its subsidiary, Genie Solar, has received the notice to proceed for a 6.25-megawatt community solar farm in Lansing, New York. The project, which will include approximately 14,000 solar panels on nearly 20 acres, is expected to supply electricity to around 1,000 local homes once operational. The project is scheduled for completion in 2024, with the start of power generation contingent upon testing of the interconnection and final approval from the regional utility, New York State Electricity and Gas (NYSEG).

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:39 pm

NAVB

Navidea Biopharmaceuticals Inc (NASDAQ:NAVB) shares have dropped by 18.5% to $0.08 after the company announced that NYSE American has started delisting proceedings. The company plans to appeal the decision and if delisted, Navidea intends to quote its common stock in the over-the-counter market.

Portfolio Pulse from Henry Khederian

July 31, 2023 | 1:39 pm

YELL

MFN Partners LP has reported a 24.6% stake in Yellow Corporation as of July 20, according to a 13D filing with the SEC.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:37 pm

SEAS

The SEC filed a complaint against SeaWorld Entertainment and James Atchison for making misleading statements about the impact of the documentary film Blackfish on the company's business. The defendants allegedly failed to disclose the 'Blackfish effect' to investors, leading to inflated stock prices. The SEC also filed a complaint against Frederick D. Jacobs for making an untrue statement before selling his SeaWorld stock. The defendants have consented to final judgments imposing a total of approximately $5.1 million in financial remedies. A Fair Fund has been established for the distribution of these funds to harmed investors.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:35 pm

BHVN

Biohaven Ltd. (NYSE:BHVN) has received orphan medicinal product designation from the European Commission for taldefgrobep alfa, a treatment for spinal muscular atrophy (SMA). The designation provides regulatory and commercial incentives, including reduced regulatory fees and an additional ten years of market protection. The drug is currently in Phase 3 clinical development and has previously received Fast Track and Orphan Drug Designation in the US.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:34 pm

SPY

Federal Reserve's Goolsbee has stated that there has been significant progress on goods inflation and expects housing inflation to start dropping.

Portfolio Pulse from Happy Mohamed

July 31, 2023 | 1:31 pm

SPY

The President of the Federal Reserve Bank of Chicago, Goolsbee, has stated that all options are open for the September rates decision, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 1:30 pm

SPY

The President of the Federal Reserve Bank of Chicago, Goolsbee, has stated that he is unsure whether to skip the September meeting. He is open to reading the data and has not made a decision regarding the September meeting.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 1:29 pm

GOOG

GOOGL

The Italian Competition Authority has concluded its investigation into Alphabet Inc's Google for alleged abuse of dominance, accepting Google's proposed commitments to enhance data portability. Google's alleged abusive conduct involved obstacles to data sharing interoperability with other platforms. The company has proposed three commitments to address these concerns, including supplementary solutions to its Takeout service and a new solution for direct data portability. In 2022, Google faced a €4.3 billion fine from the EU's top court for abusing its influence.

Portfolio Pulse from Anusuya Lahiri

July 31, 2023 | 1:27 pm

SPY

Chicago Fed's President Goolsbee has stated that it is 'fabulous news' that inflation is coming down. The goal is to manage inflation without causing a major recession. The restrictiveness of the policy rate will need to be adjusted as necessary.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2023 | 1:26 pm