Streetbeat News

Regulatory

PAVM

PAVmed Inc., a diversified commercial-stage medical technology company, has received a 180-day extension from Nasdaq to regain compliance with its $1.00 minimum bid price requirement. The company was first notified by Nasdaq on December 29, 2022, and originally was given until June 27, 2023, to regain compliance. The new deadline is December 26, 2023. The extension has no immediate effect on the listing of the company's common stock or Series Z warrants.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 8:07 pm

SRGA

Surgalign Holdings' subsidiary, Holo Surgical, has been granted European Patent Number EP3751516 for 'Autonomous Multidimensional Segmentation Of Anatomical Structures On Three-Dimensional Medical Imaging'. This could potentially strengthen the company's intellectual property portfolio and increase its competitive advantage in the medical imaging market.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 7:58 pm

REGN

Regeneron Pharmaceuticals' stock continues to fall after the FDA issued a Complete Response Letter (CRL) for aflibercept 8 mg Biologics License application due to an ongoing review of inspection findings at a third-party filler. This effectively denied the company approval of a higher-dose version of EYLEA. Several analysts also lowered their price targets on the stock.

Portfolio Pulse from Ryan Gustafson

June 28, 2023 | 7:53 pm

ATVI

MSFT

SONY

Activision Blizzard's CEO, Bobby Kotick, has stated that the company may abandon the $68.7 billion takeover bid by Microsoft if the U.S. Federal Trade Commission (FTC) manages to pause the deal. The FTC argues that Microsoft's acquisition of Activision Blizzard could harm competitors like Sony by excluding games such as 'Call of Duty' from PlayStation consoles. However, Microsoft's Phil Spencer has committed to keeping the game on the PlayStation platform.

Portfolio Pulse from Franca Quarneti

June 28, 2023 | 7:52 pm

ATVI

MSFT

Activision Blizzard Inc. may abandon the $69 billion takeover bid by Microsoft if the US Federal Trade Commission wins a ruling pausing the deal. Microsoft called Activision CEO Bobby Kotick to testify in court to reinforce its claim that the acquisition won't hurt competition in the markets for console and subscription-based games.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 7:26 pm

BETRF

PHRRF

BetterLife Pharma Inc. (OTCQB:BETRF) is fast-tracking its U.S. patent application for non-hallucinogenic LSD derivatives, including its 2-bromo-LSD derivative BETR-001, which is expected to begin clinical trials for Major Depressive Disorder. The patent covers the composition, treatment uses, and a novel production method. The company's CEO, Dr. Ahmad Doroudian, highlighted the compound's neuroplasticity properties and efficacy in preclinical models of depression, anxiety, and pain. Another biotech company, PharmaTher Holdings (OTC:PHRRF), recently fast-tracked an application for its proprietary racemic ketamine, KETARX, for the treatment of levodopa-induced dyskinesia in Parkinson’s disease.

Portfolio Pulse from Lara Goldstein

June 28, 2023 | 7:01 pm

ATVI

MSFT

Activision Blizzard CEO, Bobby Kotick, has stated that the company will be left in a difficult position if the proposed acquisition by Microsoft is blocked. The deal, which is currently under regulatory scrutiny, is seen as crucial for Activision's future.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 6:38 pm

SPY

President Joe Biden outlined his economic growth plan, criticizing trickle-down economics and advocating for a shift to 'Bidenomics'. He emphasized the importance of investing in America, promoting competition, and addressing climate security. Biden also criticized the U.S. tax structure, pledging to eliminate tax loopholes for cryptocurrency and hedge funds. The stock market, represented by SPDR S&P 500 ETF Trust (NYSE:SPY), remained steady during his speech.

Portfolio Pulse from Piero Cingari

June 28, 2023 | 6:29 pm

AMD

AVGO

MRVL

NVDA

SOXL

TXN

The semiconductor sector, including NVIDIA Corp (NVDA), Advanced Micro Devices, Inc (AMD), Marvell Technology, Inc (MRVL), ON Semiconductor Corp (ON), and Broadcom, Inc (AVGO), experienced a pullback following reports of a potential U.S. ban on AI chip exports to China. The Direxion Daily Semiconductor Bull 3X Shares (SOXL), a triple-leveraged fund tracking semiconductor companies, also opened lower but rebounded later in the day.

Portfolio Pulse from Melanie Schaffer

June 28, 2023 | 6:09 pm

SPY

The U.S. Congressional Budget Office projects the U.S. deficit to be 10% of GDP in 2053, up from 5.8% in 2023. It also projects U.S. revenues to be 19.1% of GDP in 2053, up from 18.4% in 2023, and outlays to be 29.1% of GDP in 2053, up from 24.2% in 2023.

Portfolio Pulse from Happy Mohamed

June 28, 2023 | 6:02 pm