Streetbeat News

Regulatory

COIN

Coinbase's lawyers have responded to the U.S. Securities and Exchange Commission's (SEC) attempt to strike the company's defenses in a civil case. The lawyers argue that Coinbase's defenses are grounded in both fact and law, citing the recent Supreme Court case Biden v. Nebraska. The defenses stem from the SEC's lack of authority to regulate digital asset trading platforms and its unjust conduct in reversing course. The lawyers also argue that the SEC's delay in bringing an enforcement action causes prejudice to Coinbase and its stockholders.

Portfolio Pulse from Murtuza Merchant

July 13, 2023 | 1:25 pm

HALO

RHHBY

Roche Holdings AG's Phase 3 OCARINA II trial evaluating Ocrevus as a twice-a-year 10-minute subcutaneous injection met its primary and secondary endpoints in patients with multiple sclerosis. The subcutaneous injection was shown to be non-inferior to Ocrevus given by intravenous infusion. The investigational subcutaneous formulation combines Ocrevus with Halozyme Therapeutics Inc's Enhanze drug delivery technology.

Portfolio Pulse from Vandana Singh

July 13, 2023 | 1:22 pm

SPY

USO

VGK

Russia's Energy Minister, Alexander Novak, has stated that companies will decide for themselves whether to cut oil production in August. However, he emphasized that Russia's task is to reduce supplies to world markets.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:17 pm

CLIR

ClearSign Technologies Corporation's partner, Narion, has been awarded a $250,000 phase one SBIR grant from the Department of Energy to develop a technology utilizing ClearSign's sensor. This technology will enable the efficient and complete combustion of flared waste gas, reducing greenhouse gas emissions and the carbon emissions of flaring systems.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:01 pm

PRGO

Perrigo Company plc (PRGO) announced that it has received FDA approval for Opill, an over-the-counter daily oral contraceptive. This news has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 1:01 pm

AZRE

Azure Power Global Limited (AZRE) has announced a change in its independent registered public accounting firm. The company's board has approved the appointment of ASA & Associates LLP as the new accounting firm, following the resignation of S.R. Batliboi & Co. LLP. Additionally, MSKA & Associates, a member firm of BDO International, has been proposed as the statutory auditors of certain subsidiary companies for Fiscal 2022.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 1:00 pm

VRPX

Virpax Pharmaceuticals has filed a new provisional patent application for its product candidate Envelta, which uses Molecular Envelope Technology (MET) for intranasal delivery of Enkephalin for severe cancer and non-cancer pain. The MET was developed by Nanomerics Ltd., which has licensed its technology to Virpax. The development program for Envelta is being funded almost exclusively through a Cooperative Research and Development Agreement with the National Center for Advancing Translational Sciences.

Portfolio Pulse from Benzinga Newsdesk

July 13, 2023 | 12:59 pm

AZRE

Trading of Azure Power Global's shares has been halted due to pending news.

Portfolio Pulse from Happy Mohamed

July 13, 2023 | 12:59 pm

MRMD

MariMed (OTCQX:MRMD) (CSE:MRMD) staged a protest against Section 280E of the Internal Revenue Service Code, which they claim unfairly burdens the cannabis industry with higher taxes. The protest involved a reenactment of the Boston Tea Party, with executives and team members throwing cargo chests labeled 'WEED' overboard from a boat in Boston Harbor. MariMed's stance on 280E is supported by a growing number of U.S. Congressmen and women.

Portfolio Pulse from Vuk Zdinjak

July 13, 2023 | 12:55 pm

SPY

The Producer Price Index (PPI) for final demand rose by 0.1% in June, below the expected 0.2% rise. This is the lowest annual PPI inflation rate since August 2020. The Department of Labor reported a lower-than-expected increase in weekly unemployment claims, confirming a healthy labor market. These data releases support market expectations for the Federal Reserve to raise interest rates once this month. Futures on the S&P 500 Index, tracked by the SPDR S&P 500 ETF Trust (NYSE:SPY), were 0.3% higher ahead of Wall Street opening bells.

Portfolio Pulse from Piero Cingari

July 13, 2023 | 12:49 pm