Streetbeat News

Regulatory

UBS

UBS has announced management appointments for its Global Wealth Management division. The bank is also 'carefully examining' all options for Credit Suisse's Swiss business, according to a memo cited by Reuters.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:39 pm

AMZN

IRBT

EU antitrust regulators have launched a full-scale investigation into Amazon's proposed $1.7 billion acquisition of iRobot, citing potential restrictions on competition in the robot vacuum cleaner market.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:38 pm

SPY

TSLA

25 Republican State Attorneys General have urged the Environmental Protection Agency (EPA) to abandon its plan to significantly increase electric vehicle sales. The companies that could be affected by this development include Ford (F), General Motors (GM), Tesla (TSLA), and the S&P 500 ETF (SPY).

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:36 pm

LTBR

SMR

Lightbridge Corporation (NASDAQ:LTBR) announced that Texas A&M University has been awarded approximately $1M by the U.S. Department of Energy to study the performance of Lightbridge Fuel in a small modular reactor (SMR) designed by NuScale Power (NYSE:SMR). The study will be conducted over three years and will be funded entirely by the DOE. Structural Integrity Associates will perform the thermal evaluation of Lightbridge Fuel in the SMR using its PEGASUS simulation software.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:32 pm

NVAX

Novavax's COVID-19 vaccine, Nuvaxovid, has received full approval from the European Commission for use in individuals aged 12 and older, and as a booster dose in adults aged 18 and older. The vaccine is authorized for use in over 40 markets worldwide but has not yet been approved by the FDA. Novavax's shares are down 2.85% at $7.15.

Portfolio Pulse from Vandana Singh

July 06, 2023 | 5:25 pm

AMST

Amesite Inc. has filed a new patent application titled 'Generative Artificial Intelligence Learning Method And System For An On-line Course'. The patent application is available for public viewing on the United States Patent and Trademark Office website.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:02 pm

CRVS

Corvus Pharmaceuticals (NASDAQ:CRVS) has published preclinical data on its ITK inhibitor product candidate, soquelitinib, demonstrating its potential to enhance anti-tumor immune response to hematologic and solid tumors. The data suggests that ITK inhibition could be a novel approach to cancer immunotherapy. Soquelitinib is currently being studied in a Phase 1/1b clinical trial for patients with relapsed T cell lymphoma (TCL). Corvus plans to meet with the FDA in Q3 2023 to discuss a Phase 3 registration clinical trial in patients with relapsed TCL.

Portfolio Pulse from Happy Mohamed

July 06, 2023 | 5:02 pm

NIO

XPEV

Chinese EV stocks, including NIO and XPEV, are trading lower due to concerns over US rate hikes and an agreement among several Chinese vehicle companies to avoid a price war.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 4:37 pm

TVIX

UVXY

VIXM

VIXY

VXX

The CBOE Volatility (VIX) Index surged over 20% on Thursday due to concerns that the Federal Reserve may raise interest rates again in 2023. This was fueled by strong economic data and hawkish remarks from Federal Reserve Bank of Dallas President, Lorie K. Logan. Traders now anticipate an increased likelihood of Fed rate hikes, with the probability of a 25 basis points hike in July rising to 95%. ETFs that track the VIX index, such as ProShares VIX Short-Term Futures ETF (VIXY), iPath Series B S&P 500 VIX Short-Term Futures ETN (VXX), VelocityShares Daily 2x VIX Short-Term ETN (TVIX), ProShares Ultra VIX Short-Term Futures ETF (UVXY), and ProShares VIX Mid-Term Futures ETF (VIXM), may be impacted.

Portfolio Pulse from Piero Cingari

July 06, 2023 | 4:31 pm

ADI

INTC

KLAC

QCOM

Large-cap chip stocks are trading lower due to concerns over further rate hikes and China's recent announcement of an export restriction on certain materials used in chip production. Stocks mentioned include ADI, INTC, KLAC, and QCOM.

Portfolio Pulse from Benzinga Newsdesk

July 06, 2023 | 4:20 pm