Streetbeat News

Regulatory

ASND

Ascendis Pharma's investigational drug TransCon CNP shows promising results in a trial for treating achondroplasia, a form of dwarfism. The drug demonstrated superior growth velocity in children compared to placebo and showed a good safety profile. Ascendis plans to submit an FDA application in early 2025.

Portfolio Pulse from Vandana Singh

September 16, 2024 | 4:18 pm

GFR

Waterous Energy Fund has agreed to acquire 29,988,854 shares of Greenfire Resources Ltd. for CAD$10.932 per share, totaling approximately CAD$327.8 million. This acquisition represents 43.3% of Greenfire's outstanding shares. The transaction is subject to customary closing conditions and regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 4:15 pm

BABA

BIDU

NVDA

Alibaba's stock is down due to China's weak economic data and U.S. semiconductor sanctions. The sanctions impact Alibaba's AI ambitions, crucial for its e-commerce and cloud businesses. The Biden administration's tariff hikes on Chinese imports add to the pressure. Barclays suggests policy easing to boost demand.

Portfolio Pulse from Anusuya Lahiri

September 16, 2024 | 3:27 pm

RHHBY

Roche Holdings AG received FDA approval for two subcutaneous injections: Ocrevus Zunovo for multiple sclerosis and Tecentriq Hybreza for various cancers. These approvals offer faster administration times compared to traditional IV methods.

Portfolio Pulse from Vandana Singh

September 16, 2024 | 3:23 pm

AAPL

BTCUSD

TSLA

Bitcoin's price fell below $59,000 despite significant ETF inflows, while the FBI investigates a second assassination attempt on Trump. The S&P 500 and Nasdaq futures are mixed, with potential market corrections seen as buying opportunities. Apple faces lower demand for its iPhone 16 Pro models, and Tesla's Cybertruck sales are strong.

Portfolio Pulse from Akanksha Bakshi

September 16, 2024 | 3:20 pm

BNTX

MRNA

NVAX

PFE

The DeSantis administration in Florida advises against mRNA COVID-19 vaccines for vulnerable individuals, citing rare heart condition risks. This contrasts with federal health agencies' endorsements. Moderna, Pfizer, and Novavax are directly impacted by this guidance.

Portfolio Pulse from Vandana Singh

September 16, 2024 | 3:18 pm

BAYRY

Bayer AG announced positive results from the Phase 3 ARANOTE trial for its prostate cancer drug, darolutamide, showing a significant reduction in the risk of radiological progression or death. Bayer plans to seek expanded use approval globally. The drug, marketed as Nubeqa, has shown consistent benefits across various patient subgroups and has low incidences of adverse events.

Portfolio Pulse from Vandana Singh

September 16, 2024 | 3:11 pm

EIS

ISRA

SPY

Israel's Defense Minister has stated that military action is the only remaining option to return residents of Northern Israel to their homes, as diplomatic solutions are diminishing due to Hezbollah's alignment with Hamas.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 3:11 pm

BABA

NIO

PDD

US-listed Chinese stocks, including Alibaba, PDD Holdings, NIO, and Li Auto, are trading lower due to weak economic data from China and increased US tariffs on Chinese goods. The economic data showed a slowdown in factory output, consumption, and investment, with rising unemployment and falling home prices. The US announced significant tariff hikes on Chinese goods, affecting electric vehicles and other sectors.

Portfolio Pulse from Erica Kollmann

September 16, 2024 | 2:41 pm

FirstEnergy's Pennsylvania Electric Company has reached a $225 million settlement in a base rate review, which includes expanding bill assistance for low-income customers and supporting electric grid investments. The settlement is pending approval from the Pennsylvania Public Utility Commission.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 2:31 pm