Streetbeat News

Regulatory

FXI

SPY

The State Department reports recent activity by a Chinese-sponsored cyber actor attempting to establish a presence in networks across U.S. critical infrastructure.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 5:27 pm

SPY

White House says President Biden is giving negotiators time and space to speak regarding debt ceiling negotiations, which took place virtually at 11:30 a.m. on Thursday.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 5:26 pm

SPY

The White House criticized the Supreme Court's decision on clean water, stating it takes the U.S. backwards and jeopardizes clean drinking water.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 5:21 pm

SPY

The White House reports that President Biden's team has had productive debt ceiling talks, with discussions ongoing. The budget remains up for debate, and Biden's negotiators will continue to fight for his priorities, seeking a bipartisan and reasonable budget.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 5:17 pm

COIN

Coinbase-backed blockchain network Base is preparing for a mainnet launch, contingent on testnet stability, a successful Bedrock upgrade by Optimism, and completion of audits and reviews. The upgrade is expected to enhance the security and robustness of the Optimism mainnet bridge, benefiting projects like Base. Prominent DeFi platforms such as Uniswap and Aave are considering deployment on Base once operational.

Portfolio Pulse from Murtuza Merchant

May 25, 2023 | 5:13 pm

FXI

SPY

McHenry has written a letter to Yellen expressing doubts about the effectiveness of investment restrictions compared to export controls or sanctions in regulating foreign investment. He seeks Yellen's response on Chinese investment restrictions before the June 7 hearing.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 5:12 pm

SPY

U.S. House Financial Services Chairman McHenry states that the Biden administration's outbound investment proposal needs rigorous scrutiny by the Treasury and thorough oversight by Congress. He addressed this in a letter to Treasury Secretary Yellen.

Portfolio Pulse from Happy Mohamed

May 25, 2023 | 5:12 pm

BTAI

BioXcel Therapeutics announced mixed results from Part 1 of Phase 3 SERENITY III trial for BXCL501, a lower dose of Igalmi, in bipolar and schizophrenia-associated agitation. The results will enable the initiation of Part 2 for at-home use. BTAI shares are down 27.5%.

Portfolio Pulse from Vandana Singh

May 25, 2023 | 5:10 pm

PFE

The FDA has approved Pfizer's Paxlovid for mild-to-moderate COVID-19 in high-risk adults. The approval is based on data from the EPIC clinical development program, which showed an 86% reduction in risk of hospitalization or death. Pfizer expects Paxlovid sales of $8 billion in 2023.

Portfolio Pulse from Vandana Singh

May 25, 2023 | 5:06 pm

NKLA

Nikola Corporation's shares are trading lower after receiving a written notice from Nasdaq for non-compliance with minimum bid price requirements.

Portfolio Pulse from Benzinga Newsdesk

May 25, 2023 | 5:01 pm