Streetbeat News

Regulatory

RDTCF

Rapid Dose Therapeutics Corp. (OTCPK:RDTCF) (CSE:DOSE) reported a 59% decrease in revenue for FY23, with a net comprehensive loss of CA$3.8 million. The company established B2B partnerships to sell their nutraceutical products in Canadian retail stores and entered into a pharmaceutical collaboration with Skycare Compounding Labs. However, they faced regulatory approval hurdles and delays for product applications in Europe, USA, and Canada.

Portfolio Pulse from Vuk Zdinjak

June 29, 2023 | 2:45 pm

BNBUSD

Binance, a major cryptocurrency exchange, has been denied a crucial license by Bafin, the German financial watchdog. This license was essential for Binance to operate and expand in Germany. The exact reasons for the denial have not been disclosed. This setback is part of a broader pattern of regulatory challenges Binance is facing across Europe, including losing licenses and being forced to exit markets in the Netherlands, France, and the United Kingdom.

Portfolio Pulse from Murtuza Merchant

June 29, 2023 | 2:35 pm

CFG

Shares of Citizens Financial Group Inc (CFG) are trading higher by 2.10% following the Federal Reserve's stress test results. All 23 banks tested, including CFG, remained above their minimum capital requirements during a hypothetical recession. However, in a hypothetical scenario, they incurred projected losses amounting to $541 billion. CFG has a 52-week high of $44.82 and a 52-week low of $23.37.

Portfolio Pulse from Henry Khederian

June 29, 2023 | 2:29 pm

CMA

Shares of Comerica Incorporated (NYSE:CMA) are trading higher by 2.94% following the Federal Reserve's stress test results. All 23 banks tested, including Comerica, remained above their minimum capital requirements during a hypothetical recession. The stress test projected losses of $541 billion in a hypothetical scenario, with over $100 billion from real estate and residential mortgages, and $120 billion from credit cards.

Portfolio Pulse from Henry Khederian

June 29, 2023 | 2:29 pm

SPY

The White House is reviewing the Supreme Court's decision on affirmative action, according to a Reuters report. No specific details about the review or its potential implications were provided.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 2:21 pm

BABA

BIDU

FXI

JD

KWEB

Alibaba Group Holding Limited (BABA), Baidu, Inc (BIDU), JD.Com, Inc (JD), and Chinese ETFs including IShares China Large-Cap ETF (FXI) and KraneShares Trust KraneShares CSI China Internet ETF (KWEB) are trading lower due to concerns about the lack of significant policy stimulus in China and the potential need for more tightening to contain inflation. This follows a government report showing that manufacturing in mainland China contracted for a third month in June. The stocks were also affected by reports of the U.S. intensifying its AI chip embargo on China.

Portfolio Pulse from Anusuya Lahiri

June 29, 2023 | 2:20 pm

BTCUSD

ETHUSD

EWU

The UK has passed a law that classifies cryptocurrency as a regulated financial activity. The Financial Services and Markets Act 2023 gives regulators the power to supervise crypto and stablecoins. The Act aims to support the safe adoption of crypto assets in the UK. The Treasury, Financial Conduct Authority, Bank of England, and the Payments Systems Regulator will be able to introduce and enforce rules to regulate the sector. New specific rules for the crypto sector could come within 12 months.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 2:18 pm

BTAI

BioXcel Therapeutics Inc's shares have plummeted following the release of topline results for TRANQUILITY II, a Phase 3 trial of BXCL501 for the acute treatment of Alzheimer's disease-related agitation. The trial met its primary efficacy endpoint with the 60 mcg dose, but did not meet the other secondary endpoint of change from baseline in PEC score at 30 minutes. The company plans to develop a path to potential supplemental submission for the acute treatment of agitation associated with Alzheimer's disease in H2 2023.

Portfolio Pulse from Vandana Singh

June 29, 2023 | 2:16 pm

SPY

The Federal Trade Commission (FTC) has announced updated advertising guides to combat deceptive reviews and endorsements. The move is aimed at ensuring transparency and fairness in the market.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 2:11 pm

SPY

The Supreme Court has ruled against affirmative action, barring the consideration of race in college admissions. This decision eliminates selective universities' favored means for assembling a diverse student body.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 2:11 pm