Streetbeat News

Regulatory

CGC

Oversupply issues have negatively impacted the cannabis market in Canada, with Canopy Growth (NASDAQ:CGC) losing billions due to oversupply and overspending. The same issue is occurring in the U.S., with large Multi-State Operators (MSOs) installing excess capacity in new state markets, leading to oversupply, declining margins, and tough decisions. Some larger firms have exited saturated state markets, while others have not staffed up their operations and let some sites remain idle.

Portfolio Pulse from Beau Whitney

July 20, 2023 | 7:02 pm

ATVI

MSFT

The Federal Trade Commission (FTC) has decided to pause the trial of Microsoft's merger, allowing for settlement talks, according to Bloomberg.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 6:27 pm

FXI

SPY

USO

The U.S. Senate has voted to block sales of U.S. oil reserves to China. This decision could potentially impact the global oil market and the related ETFs.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 6:21 pm

MSFT

SPY

Canada's top cybersecurity official warns that hackers and propagandists are using artificial intelligence (AI) to create malicious software, draft convincing phishing emails, and spread disinformation online. This indicates that the technological revolution in Silicon Valley is also being adopted by cybercriminals.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 5:55 pm

SPY

VGK

The White House's Kirby has announced that cluster munitions are now in Ukrainian hands and are being deployed in the field, according to Reuters.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 5:49 pm

ACB

CGC

CRON

TLRY

The bipartisan marijuana banking bill, the Secure and Fair Enforcement (SAFE) Banking Act, will not be addressed during the summer session as previously hoped. The delay is due to disagreements over one section of the bill concerning broader banking regulations. The bill aims to protect banks and credit unions from being penalized by federal regulators for working with state-licensed cannabis businesses.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 5:49 pm

AMGN

HZNP

The FDA has added a new warning to the label for Horizon Pharma's drug Tepezza. This drug is significant to Amgen's deal for the company.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 5:47 pm

NVO

Novo Nordisk A/S (NYSE:NVO) is facing a shortage of its obesity drugs Wegovy and Saxenda due to increased demand. The FDA has listed Saxenda as having limited availability through the end of 2023. The European Medicines Agency has initiated a probe into Novo Nordisk's weight-loss medications amid reports of suicidal risks. Despite these challenges, NVO shares are up 3.81%.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 5:41 pm

MSFT

OpenAI, the creator of ChatGPT and DALL-E, has shown support for the idea of requiring government licenses for the development of advanced artificial intelligence systems, according to an internal policy memo. The company also indicated its willingness to reveal the data used to train image generators. This follows a meeting between White House officials and tech executives, including OpenAI CEO Sam Altman.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 5:35 pm

SPY

President Biden is discussing his 'Bidenomics' agenda and how it is contributing to the growth of the economy. The discussion is being streamed live on YouTube.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 5:13 pm