Streetbeat News

Regulatory

SLM

SOFI

SPY

President Biden's administration has announced the cancellation of $130M in student debt for 7,400 borrowers in Colorado. This move is part of the broader effort to address the student loan crisis in the US.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 5:49 pm

DB

Deutsche Bank AG (NYSE:DB) has announced a share repurchase program of up to €450 million, set to start in August and complete by the end of 2023. The decision is subject to receiving all necessary supervisory approvals.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 5:46 pm

EIS

SPY

The U.S. State Department has announced that there will be no cut or stoppage of military aid to Israel, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 25, 2023 | 5:42 pm

INPX

Streeterville Capital LLC has acquired a 9.99% stake in Inpixon, according to a 13G filing with the SEC.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 5:28 pm

AKTX

Akari Therapeutics has been granted EU Orphan Designation for its drug Nomacopan for use in Hematopoietic Stem Cell Transplantation. This designation could potentially open up new markets for the company in the European Union.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 5:25 pm

SPY

VGK

The Biden administration has announced additional security assistance for Ukraine, valued at up to $400 million. The new U.S. aid includes air defense munitions, armored vehicles, and anti-armor weapons.

Portfolio Pulse from Happy Mohamed

July 25, 2023 | 5:04 pm

NOVN

VRCA

The FDA has approved Verrica Pharmaceuticals' Ycanth solution for molluscum contagiosum in patients two years and older. Following this, Needham upgraded Verrica's stock to Buy from Hold with a price target of $10. The analysts believe that the current valuation underappreciates Ycanth's potential to become standard-of-care for molluscum and its potential for wider use in other types of warts. The most near-term potential competitor to Ycanth is a product developed by Novan Inc, which recently filed for bankruptcy.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 5:04 pm

BLPH

Bellerophon Therapeutics (NASDAQ:BLPH) has received a delisting notice from the Nasdaq Exchange due to its status as a public shell company, following layoffs and plans to explore strategic alternatives. The company plans to request a hearing to address the deficiencies and present a plan to regain compliance. Meanwhile, its stock will remain listed and eligible for trading on Nasdaq. BLPH shares are down 38% at $0.44.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 4:53 pm

STOK

Stoke Therapeutics Inc (NASDAQ:STOK) shares are trading lower despite the company releasing promising safety and efficacy data from its STK-001 trials in children and adolescents with Dravet syndrome. The data showed decreased seizure frequency and improved cognition and behavior, indicating potential disease modification. No significant safety issues were observed among the 74 patients treated. The company expects additional data from the ongoing trials in Q1 2024 and will update Phase 3 planning in the first half of 2024.

Portfolio Pulse from Vandana Singh

July 25, 2023 | 4:51 pm

SPKX

SPKY

UVXY

Ahead of the Federal Reserve's decision on interest rates, ConvexityShares Daily 1x SPIKES Futures ETF (SPKX) dropped about 1%, hitting a new all-time low. The ETF, which tracks the SPIKES Futures Short-Term Index, is similar to ProShares Ultra VIX Short Term Futures ETF (UVXY). Traders looking for gains on stock market volatility could opt for ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY). Post the Fed's meeting, market volatility could increase, potentially driving SPKX higher.

Portfolio Pulse from Melanie Schaffer

July 25, 2023 | 4:43 pm