Streetbeat News

Regulatory

CGC

STORZ & BICKEL GmbH, a subsidiary of Canopy Growth Corporation (NASDAQ:CGC) (TSX:WEED), has announced that its VOLCANO MEDIC 2 and MIGHTY+ MEDIC vaporizers have been certified under the new EU Medical Device Regulations (MDR). The certification process was conducted by TÜV SÜD. The company plans to introduce the certified products to the market in August.

Portfolio Pulse from Vuk Zdinjak

July 20, 2023 | 2:12 pm

AMZN

BX

DB

PFE

TSLA

TSM

Tesla recalls over 17,000 EVs due to camera and seat belt issues. Taiwan Semiconductor's stock falls after Q2 earnings report. Deutsche Bank is fined $186M by the Federal Reserve for money laundering control failures. Blackstone posts a 43% drop in Q2 revenues. Philip Morris, Johnson & Johnson, Abbott Laboratories, Kenvue Inc, and American Airlines report Q2 earnings. Pfizer's GBS6 vaccine candidate shows promising protection for infants. Frontier Communications offers $1B fiber-backed bond. Juul seeks FDA approval for its next-generation vaporizer. Elliott Investment Management acquires a significant stake in Catalent. Pfizer's North Carolina plant is damaged by a tornado. UPS plans to offer a better deal to avoid a strike. Amazon plans to introduce palm-payment technology in all Whole Foods stores by year end.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 2:09 pm

SCYX

SCYNEXIS, Inc. (NASDAQ:SCYX) and Hansoh Pharmaceutical Group Company Limited (3692.HK) have announced that China's National Medical Products Administration (NMPA) has accepted a New Drug Application (NDA) for oral ibrexafungerp tablets for the treatment of vulvovaginal candidiasis (VVC) in China. The application is based on positive results from Phase 3 studies. SCYNEXIS entered into an agreement with Hansoh Pharma in February 2021 for the development and commercialization rights for oral ibrexafungerp in the greater China region.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 1:59 pm

TTOO

T2 Biosystems Inc (NASDAQ:TTOO) shares are trading higher after the FDA granted Breakthrough Device designation for the company's Candida auris direct-from-blood molecular diagnostic test. The company plans to add the test to its FDA-cleared T2Dx instrument, which will expand its capabilities. This is T2's third product to receive FDA Breakthrough Device designation.

Portfolio Pulse from Adam Eckert

July 20, 2023 | 1:59 pm

GOOG

GOOGL

Alexandr Wang, CEO of Scale AI, has urged the Pentagon to expedite its efforts in capitalizing on military data and investing in cutting-edge technology, citing AI as China’s parallel to the Apollo project. Wang's warning comes as China's investment in AI tools currently surpasses the American expenditure. Wang pressed for the centralization of data to train AI models and a crucial upgrade of the workforce to ensure the U.S. military remains competitive. Alphabet Inc.’s former CEO Eric Schmidt shared similar sentiments, disagreeing with tech experts who signed an open letter asking for a complete shutdown of AI developments.

Portfolio Pulse from Ananya Gairola

July 20, 2023 | 1:58 pm

AAPL

META

Apple Inc. has threatened to withdraw its iMessage and FaceTime services in the UK if the proposed surveillance bill becomes law. The bill would require tech companies to disable security features like end-to-end encryption without informing consumers. Apple argues that this would weaken security for all its users and pose a serious threat to data security and information privacy. Other messaging applications like Meta Platforms Inc.'s WhatsApp and Signal have also opposed the bill and threatened to leave the UK.

Portfolio Pulse from Rounak Jain

July 20, 2023 | 1:54 pm

AAPL

EWU

Apple has criticized the new surveillance bill proposals in the UK and threatened to remove services such as Facetime and iMessage if the law is passed.

Portfolio Pulse from Happy Mohamed

July 20, 2023 | 1:45 pm

DB

The Federal Reserve has fined Deutsche Bank (NYSE:DB) and its U.S. affiliates $186 million due to their failure to adequately address issues related to money laundering controls and other deficiencies. This new penalty adds to the challenges faced by the German bank that has struggled to establish a solid footing with regulators in Europe and the U.S. The bank was also ordered to improve its risk and data management practices.

Portfolio Pulse from Vandana Singh

July 20, 2023 | 1:29 pm

ME

23andMe has released a new FDA-cleared genetic report on Simvastatin, a commonly prescribed statin. This makes 23andMe the first and only direct-to-consumer product to offer a suite of FDA-authorized pharmacogenetics reports.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 1:25 pm

XXII

22nd Century Group, Inc. (NASDAQ:XXII), a biotechnology company, has regained compliance with Nasdaq listing requirements. The company was informed by Nasdaq on July 19, 2023, that it has achieved compliance with the minimum bid price rule required for continued listing on the Nasdaq Capital Market.

Portfolio Pulse from Benzinga Newsdesk

July 20, 2023 | 1:20 pm