Streetbeat News

Regulatory

HMA

Heartland Media Acquisition Corp. (HMA) announced it will redeem all of its outstanding shares of Class A common stock at a per-share redemption price of approximately $10.55, effective as of the close of business on August 8, 2023. This is due to the company's inability to consummate an initial business combination within the required time period. The company's warrants will expire worthless and the NYSE will file a Form 25 to delist the company's securities.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 8:35 pm

ISRA

Israel's government has passed a controversial law that curtails the power of the judiciary, sparking the largest protests in the nation's history. The law's passage has led to economic fallout, with Tel Aviv's primary stock indices plunging up to 2.5% and the shekel's losses against the dollar widening to approximately 1%. The VanEck Israel ETF (NYSE:ISRA), a U.S.-listed exchange-traded fund focused on Israeli shares, has experienced a decline of nearly 5% over the last three trading sessions.

Portfolio Pulse from Piero Cingari

July 24, 2023 | 8:26 pm

ABCL

The U.S. Patent Trial and Appeal Board (PTAB) has denied a rehearing request by Berkeley Lights, Inc. that challenged AbCellera's U.S. Patent No. 10,087,408. The patent is directed to microfluidic devices used in AbCellera's monoclonal antibody development engine. The decision strengthens AbCellera's patent claims and the company is looking forward to resuming its patent infringement cases against Berkeley Lights.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 8:18 pm

YGMZ

MingZhu Logistics has received a notification from Nasdaq regarding minimum bid requirements. The company has until January 22, 2024, to regain compliance with Nasdaq's minimum bid price requirement.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 8:03 pm

UK

Ucommune has received a notification from Nasdaq regarding a minimum bid price deficiency. The company now has 180 days to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2023 | 8:02 pm

PIRS

Pieris Pharmaceuticals has received a notice of allowance for its U.S. patent application 16/812,069 titled 'Muteins of Human Lipocalin 2 with Affinity for a Given Target (For the Diagnosis and Treatment of Tumor Diseases)'.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 7:59 pm

BAC

An analysis by the Wall Street Journal has found that Bank of America and Huntington National Bank were among the banks that made the largest revisions to their uninsured deposits following the collapse of SVB. The FDIC has issued a warning to U.S. banks about deposit accounting.

Portfolio Pulse from Bill Haddad

July 24, 2023 | 7:58 pm

ADBE

Adobe Inc.'s $20-billion acquisition of design startup Figma Inc. is set to undergo a rigorous review by the European Union’s merger regulators, intensifying the global examination of the deal. Adobe has chosen not to suggest solutions to potential competition issues, leading to an impending comprehensive investigation by the EU’s competition division. The acquisition represents a significant wager on the increasing shift of creative work to the web by small businesses and everyday users, a market that Figma has swiftly captured.

Portfolio Pulse from Piero Cingari

July 24, 2023 | 7:45 pm

ADBE

Adobe's $20 billion acquisition of Figma is facing regulatory scrutiny from the European Union, following a similar review by UK regulators. US watchdogs are also preparing for a lawsuit opposing the deal.

Portfolio Pulse from Happy Mohamed

July 24, 2023 | 7:30 pm

SPKY

UVXY

Ahead of the Federal Reserve's monthly meeting, the Convexity Daily 1.5x SPIKES Futures ETF (SPKY) is falling under support near the $5 level. SPKY is a 1.5x leveraged fund that follows the SPIKES Futures Short-Term Index, similar to the ProShares Ultra VIX Short Term Futures ETF (UVXY). With an anticipated 0.25% rate hike, volatility in the stock market could surge, potentially driving SPKY higher. However, SPKY has been declining over the last three trading days, suggesting lower prices could come again.

Portfolio Pulse from Melanie Schaffer

July 24, 2023 | 7:27 pm