Streetbeat News

Regulatory

SRPT

Sarepta Therapeutics' CEO appeared on CNBC to discuss the FDA approval of their new therapy. This approval could potentially boost the company's market position and stock value.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 3:48 pm

AMZN

PG

The article discusses the potential of large consumer packaged goods (CPG) companies like Amazon (AMZN), Nestlé (NSRGF), and Procter & Gamble (PG) to revive struggling cannabis businesses. The cannabis industry faces challenges such as regulatory uncertainty, banking limitations, oversupply, and fragmented markets. These CPG companies, with their expertise in regulations, supply chain management, and product development, could acquire struggling cannabis companies and bring stability, innovation, and scalability to the industry.

Portfolio Pulse from Nicolás Jose Rodriguez

June 29, 2023 | 3:48 pm

EWC

FXI

The Alberta government has ended its partnership with a Chinese private equity fund. The decision could potentially impact the trade relations between Alberta and China.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 3:47 pm

BAC

CFG

DB

GS

MS

NTRS

XLF

The Federal Reserve's 2023 stress tests showed that all 23 large U.S. banks have sufficient capital to absorb hypothetical losses of $540 billion in a severely adverse scenario. However, concerns remain over the vulnerability of certain banks to a collapse in the commercial real estate (CRE) market and unrealized fixed income losses. Goldman Sachs, Morgan Stanley, Citizens Financial Group, Northern Trust, and Deutsche Bank are among the most vulnerable to a CRE collapse. Bank of America is facing significant paper losses due to its decision to invest pandemic-era deposit inflows into debt markets.

Portfolio Pulse from Piero Cingari

June 29, 2023 | 3:38 pm

DIA

IWM

SPY

Major indexes have risen following better-than-expected GDP and initial jobless claims data. The Fed's stress test also revealed that all 23 banks tested remained above minimum capital requirements during a hypothetical recession.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 3:24 pm

SPY

President Biden is scheduled to speak on the Supreme Court decision on affirmative action at 12:30 p.m., according to the White House. The news does not provide any specific details about the content of the speech or its potential impact on specific sectors or companies.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 3:22 pm

COIN

Coinbase Global Inc (NASDAQ:COIN) has filed a legal rebuttal to the lawsuit initiated by the U.S. Securities and Exchange Commission (SEC), arguing that the digital assets available for trading on its platform are beyond the SEC's regulatory scope. The SEC had accused Coinbase of offering about a dozen cryptocurrencies that were not registered securities. Coinbase contends that these cryptocurrencies do not qualify as investment contracts and therefore should not be classified as securities.

Portfolio Pulse from Murtuza Merchant

June 29, 2023 | 3:20 pm

WAL

Shares of Western Alliance Bancorporation (NYSE:WAL) are trading higher by 2.20% following the Fed's stress test results. All 23 banks tested remained above their minimum capital requirements during a hypothetical recession. However, they incurred projected losses amounting to $541 billion in a hypothetical scenario. WAL has a 52-week high of $86.87 and a 52-week low of $7.46.

Portfolio Pulse from Henry Khederian

June 29, 2023 | 3:08 pm

CRON

CURLF

Legalize America, the first Super PAC focusing on cannabis reform, has been officially launched. Supported by leading regulated cannabis companies, including Curaleaf (OTC:CURLF) and Cronos Group (NASDAQ:CRON), the organization aims to push for cannabis law reform in the 2024 election and beyond. The group's strategies include scorecards, endorsements, and focused independent expenditure campaigns.

Portfolio Pulse from Javier Hasse

June 29, 2023 | 2:49 pm

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