Streetbeat News

Regulatory

JNJ

The American Hospital Association (AHA) is urging the Health Resources and Services Administration (HRSA) to take enforcement action against Johnson & Johnson (J&J) for changing its 340B Drug Pricing Program model. J&J plans to replace upfront discounts with a rebate model for drugs like Stelara and Xarelto, potentially impacting hospital finances and patient access.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 5:33 pm

LOW

Lowe's is reducing its Diversity, Equity, and Inclusion (DEI) policies, aligning with other companies that have modified their programs following the U.S. Supreme Court's decision against affirmative action in college admissions or due to conservative backlash.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 5:31 pm

WTO

UTime Ltd (NASDAQ:WTO) shares plummeted 93% after announcing a non-disclosure agreement for acquiring Bowen Therapeutics' lab, aiming to expand into the vaccine market. The acquisition focuses on developing an mpox vaccine, but the deal is pending negotiations and regulatory approvals.

Portfolio Pulse from Henry Khederian

August 28, 2024 | 5:09 pm

NIO

NIO Inc shares are down 7% due to concerns over industry-wide challenges after Li Auto's revenue miss and weak guidance. Investors fear similar issues for NIO, including reduced margins and competitive pressures in the Chinese EV market.

Portfolio Pulse from Henry Khederian

August 28, 2024 | 5:00 pm

ADAUSD

Cardano's 'Chang' hard fork, a major network upgrade, has been delayed until September 1st. This upgrade will introduce on-chain governance, allowing ADA holders to participate in decision-making. The delay is to give exchanges more time to prepare.

Portfolio Pulse from Murtuza Merchant

August 28, 2024 | 4:59 pm

ETHUSD

Ethereum co-founder Vitalik Buterin has expressed his strong belief in Ethereum (ETH) as a store of value, revealing that 90% of his net worth is in ETH. This statement addresses the Ethereum team's hesitance to promote ETH's monetary aspects, possibly due to regulatory concerns. Buterin's stance highlights his confidence in Ethereum's long-term value, despite the development team's focus on its technological aspects.

Portfolio Pulse from Murtuza Merchant

August 28, 2024 | 4:46 pm

ACIU

AC Immune's shares rose following the FDA Fast Track designation for the PI-2620 Tau-PET Diagnostic, developed with partner Life Molecular Imaging, for three neurodegenerative conditions.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 4:30 pm

TLS

Telos shares rose after the company resolved a protest with the Federal Government, securing an award worth up to $485 million.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 4:23 pm

BIOX

Bioeceres shares are rising after reports that the USDA approved the cultivation of their drought-tolerant HB4 wheat in the U.S.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 4:19 pm