Streetbeat News

Regulatory

QQQ

SPY

Democratic presidential candidate Marianne Williamson criticized House Speaker Kevin McCarthy's resolution on spending cuts, accusing him of targeting the poor and disadvantaged. The debt ceiling crisis remains unresolved, but the Nasdaq Composite closed at its highest level since August. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust Series 1 (QQQ) saw gains.

Portfolio Pulse from Bhavik Nair

May 23, 2023 | 2:39 am

CURLF

Amsterdam's Red Light District will ban marijuana smoking on its streets starting May 25, with violators facing a €50 fine. Tourists remain unfazed, and coffeeshops expect increased revenue as customers stay inside longer. The European medical marijuana market is projected to reach over €550 million in sales by the end of this year.

Portfolio Pulse from Joana Scopel

May 22, 2023 | 10:08 pm

SPY

President Biden stated that spending is not the only way to resolve the current economic issues, suggesting alternative approaches may be considered.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 9:50 pm

SPY

U.S. President Biden and House Speaker McCarthy have begun a meeting at the White House to discuss the debt ceiling issue.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 9:48 pm

SPY

U.S. House Speaker Kevin McCarthy expressed his eagerness to find common ground in the political landscape, potentially leading to a more stable environment for investors.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 9:47 pm

SPY

President Biden expressed optimism about making progress on the debt ceiling and emphasized the need for a bipartisan agreement. He also suggested looking at tax loopholes and ensuring the wealthy pay their fair share.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 9:47 pm

BBGI

Beasley Broadcast Group (BBGI) has regained compliance with Nasdaq's minimum bid price requirement, according to a notice received on May 19, 2023.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2023 | 9:46 pm

KRYS

The FDA has approved Krystal Biotech's Vyjuvek for treating patients with dystrophic epidermolysis bullosa (DEB). The annual pricing per patient is estimated at $485,000 after government discounts. Krystal estimates 3,000 total DEB patients in the US, with a $750 million market opportunity. Analysts project $900 million in US peak sales.

Portfolio Pulse from Vandana Singh

May 22, 2023 | 9:42 pm

ALNY

Alnylam Pharmaceuticals released new 18-month results from the APOLLO-B Phase 3 study of patisiran, showing sustained favorable effects on functional capacity, health status, and quality of life. The FDA has set an action date of October 8, 2023, and plans to convene a Cardiovascular and Renal Drugs Advisory Committee meeting.

Portfolio Pulse from Vandana Singh

May 22, 2023 | 9:33 pm

GM

MVST

Microvast Holdings Inc (NASDAQ:MVST) shares are trading lower after the U.S. Department of Energy (DOE) reportedly canceled contract negotiations for a potential $200 million award. This comes after Microvast and General Motors Co (NYSE:GM) received a $200 million grant from the DOE in late 2022.

Portfolio Pulse from Adam Eckert

May 22, 2023 | 9:32 pm