Streetbeat News

Regulatory

IBM

VIG

VYM

IBM is closing its research division in China, laying off 1,000 employees, and shifting R&D functions to other global offices. This move aligns with other companies reducing exposure to China due to economic and regulatory challenges. IBM's stock has risen over 34% in the past year.

Portfolio Pulse from Anusuya Lahiri

August 26, 2024 | 1:11 pm

C

FTXO

ICAP

Citigroup is facing a lawsuit from a former managing director, Kathleen Martin, who claims she was fired for whistleblowing. Citigroup argues the dismissal was due to performance issues. The case involves allegations of concealing information from regulators. Citigroup has faced recent fines for regulatory non-compliance.

Portfolio Pulse from Lekha Gupta

August 26, 2024 | 1:05 pm

NCNC

noco-noco Inc has been granted a temporary exception by Nasdaq to remain listed until October 30, 2024. The company must comply with certain conditions, including a reverse stock split and financing activities, to meet Nasdaq's listing requirements.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 1:02 pm

BIIB

LLY

Eli Lilly's Alzheimer's drug, donanemab, is likely to face rejection by the UK's NHS due to safety concerns and high costs, following a similar rejection of Biogen's lecanemab. Despite donanemab's effectiveness, its side effects and projected higher costs pose significant hurdles.

Portfolio Pulse from Vandana Singh

August 26, 2024 | 12:45 pm

RYTM

Rhythm Pharmaceuticals' shares rose following the FDA's acceptance of a priority review for their supplemental NDA for IMCIVREE.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 12:45 pm

NVO

Novo Nordisk's CEO defends the high U.S. prices of Ozempic and Wegovy, citing their role in reducing obesity-related economic burdens. The company faces criticism over pricing, with upcoming Senate testimony expected. The CEO blames insurance companies and PBMs for high patient costs.

Portfolio Pulse from Vandana Singh

August 26, 2024 | 12:39 pm

LI

MT

NIO

NUE

TSLA

X

XPEV

Canada's Prime Minister Trudeau has announced a 100% tariff on Chinese electric vehicle imports and a 25% tariff on Chinese aluminum and steel. This move could impact companies involved in the production and import of these goods.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 12:39 pm

BABA

BIDU

NVDA

Chinese AI developers are bypassing U.S. semiconductor sanctions by using Nvidia chips through overseas data centers. Alibaba, Tencent, and Baidu are increasing investments in AI infrastructure. Nvidia's stock has surged due to AI demand, while Alibaba's stock has declined due to economic challenges and sanctions.

Portfolio Pulse from Anusuya Lahiri

August 26, 2024 | 12:17 pm

DARE

Daré Bioscience has published safety findings from its Phase 2b RESPOND clinical study of Sildenafil Cream, 3.6% in The Journal of Sexual Medicine. The study shows the cream is safe and well-tolerated, without common side effects like headache and flushing seen in oral sildenafil.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 12:13 pm

GMGI

Golden Matrix Group's subsidiary, Meridianbet, has been shortlisted for an exclusive sports betting and iGaming license in Brazil, positioning it among a select group of global operators in a highly anticipated market.

Portfolio Pulse from Benzinga Newsdesk

August 26, 2024 | 12:12 pm