Streetbeat News

Regulatory

LLY

The Alzheimer's Association has released a statement on the Phase 3 data of Donanemab, a drug developed by Eli Lilly and Company (LLY). The data shows that Donanemab significantly slowed cognitive and functional decline in people with early symptomatic Alzheimer's.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:30 pm

MNK

Trading of shares in Mallinckrodt Plc has been halted due to pending news.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:28 pm

XXII

22nd Century Group, Inc. (NASDAQ:XXII) has launched VLN® King cigarettes, a reduced nicotine combustible cigarette, in California. The product contains 95% less nicotine than conventional cigarettes and has received FDA approval as a modified risk tobacco product. The company aims to help smokers reduce their nicotine exposure and dependence. The product will be available in more than 275 sites of the leading convenience store in the US and other stores across California.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:21 pm

NVDA

Nvidia Corp (NASDAQ:NVDA) stock is trading higher amid reports of semiconductor chip companies' CEOs planning to discuss China policy with the U.S. government. The executives aim to explain the repercussions of the stricter embargo on the Chinese semiconductor industry involving AI chips. Nvidia plans to reduce A800 production and allocate the capacity to the H800 to boost its presence in the Chinese market. Citi analyst Atif Malik maintained a Buy rating on Nvidia and raised the price target to $520 from $420 with a bull case of $600.

Portfolio Pulse from Anusuya Lahiri

July 17, 2023 | 1:18 pm

CNXC

Concentrix Corp has filed for a mixed shelf offering, according to a SEC filing. The size of the offering has not been disclosed.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:14 pm

TRUL

Florida's potential marijuana legalization initiative could generate between $195.6 million and $431.3 million in new sales tax revenue annually, according to estimates from the state legislature and Gov. Ron DeSantis's office. The state Financial Impact Estimating Conference (FIEC) has finalized its financial analysis, which will be provided to voters if the initiative makes the ballot. The Smart & Safe Florida campaign has collected enough signatures for ballot placement, but its language is currently being reviewed by the state Supreme Court. The marijuana company Trulieve has contributed more than $39 million to the campaign. If approved, the measure would allow existing medical cannabis companies like Trulieve to begin selling marijuana to all adults over 21.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:12 pm

QDEL

Quidel Cardiovascular Inc. is recalling its Quidel Triage Cardiac Panel due to the risk of false negative troponin results that could lead to delayed or missed diagnosis of myocardial infarction. The FDA has classified this as a Class I recall, the most serious type. The company has reported 41 complaints but no injuries or deaths related to this issue. The recall affects 7,799 devices in the U.S. distributed since November 1, 2022.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 1:06 pm

BLK

BlackRock Inc plans to expand its Voting Choice program to its largest ETF, the iShares Core S&P 500 ETF (IVV), subject to iShares Board approval. The expansion is expected to be in effect for the 2024 proxy voting season. This move will allow over three million IVV shareholder accounts and more than half of BlackRock's index equity AUM to participate in Voting Choice.

Portfolio Pulse from Akanksha Bakshi

July 17, 2023 | 1:01 pm

BLK

COIN

NDAQ

The U.S. Securities and Exchange Commission (SEC) is seeking public input on five Bitcoin ETF applications, including ARK 21Shares Bitcoin ETF by Ark Invest, and ETFs from Wise Origin, WisdomTree, VanEck, and Invesco Galaxy. The SEC also called for comments on the iShares Bitcoin Trust by BlackRock Inc, which was submitted on Nasdaq. In related news, Coinbase shares surged up to 16% last week after striking a deal with Cboe's BZX Exchange regarding the ETF applications.

Portfolio Pulse from Murtuza Merchant

July 17, 2023 | 12:54 pm

CYTO

Altamira Therapeutics Ltd. (NASDAQ:CYTO) has announced the publication of detailed results from its clinical trial with Bentrio nasal spray in house dust mite allergic rhinitis. The study demonstrated statistically significant alleviation of nasal symptoms of allergic rhinitis. The trial enrolled 37 patients in Canada who underwent controlled allergen exposure. The results showed that Bentrio treatment reduced the increase in mean Total Nasal Symptom Score (TNSS) during the 3-hour exposure by 1.1 points vs. no treatment.

Portfolio Pulse from Happy Mohamed

July 17, 2023 | 12:47 pm