Streetbeat News

Regulatory

Donald Trump has announced his intention to block Nippon Steel's acquisition of U.S. Steel and to eliminate the EPA's 'Power Plant Rule' if he is elected. This could have significant implications for the steel industry and environmental regulations.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 6:49 pm

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The Democratic Party's platform omits cryptocurrency, contrasting with the Republican Party's pro-crypto stance. Donald Trump, the GOP nominee, supports Bitcoin mining rights and holds Ethereum assets. This divergence highlights crypto as a key issue in the upcoming election.

Portfolio Pulse from Murtuza Merchant

August 19, 2024 | 6:42 pm

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U.S. stocks rose with the Nasdaq gaining 150 points. ZIM Integrated Shipping Services reported strong Q2 results, boosting its stock. Alzamend Neuro surged 474% after announcing a partnership for a PTSD study. Sonder Holdings rose 98% following a licensing deal with Marriott and securing $146M in liquidity. Liquidia Corporation fell 29% after FDA's tentative approval of YUTREPIA. Theriva Biologics and Cingulate Inc. also saw significant declines.

Portfolio Pulse from Avi Kapoor

August 19, 2024 | 6:37 pm

ACI

Kroger has filed a lawsuit against the U.S. Federal Trade Commission (FTC) to prevent an in-house review of its proposed acquisition of Albertsons. This legal action is a significant step in Kroger's efforts to finalize the deal, which has faced regulatory scrutiny.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 6:36 pm

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A new mpox variant, Clade I, is causing global concern, with increased screening in Europe and China. The variant is more severe and transmissible, prompting vaccine and drug developments. Bavarian Nordic and SIGA Technologies are key players in the vaccine and treatment landscape.

Portfolio Pulse from Michael Juliano

August 19, 2024 | 6:26 pm

GMAB

Genmab A/S has received European Commission approval for TEPKINLY, a subcutaneous bispecific antibody, for treating relapsed/refractory follicular lymphoma in adults. This marks the second approval for TEPKINLY in the EU.

Portfolio Pulse from Benzinga Newsdesk

August 19, 2024 | 6:01 pm

SPY

The Jackson Hole Economic Symposium is a key event for financial markets, with investors anticipating signals from Fed Chair Jerome Powell on a potential September rate cut. Market consensus expects a 25-basis-point cut, with a 77.5% probability, as per CME Group's FedWatch tool. Historically, the S&P 500 has shown mixed reactions during the symposium, with an average decline of 0.4% during the event days but a modest gain of 0.4% over the week.

Portfolio Pulse from Piero Cingari

August 19, 2024 | 5:46 pm

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California's cannabis industry faces significant challenges as small-scale farmers abandon cultivation due to wildfires, low prices, and lack of federal aid. Companies like NewLake Capital Partners, Verano Holdings, and Lowell Farms are impacted by these market dynamics.

Portfolio Pulse from Patricio Liddle

August 19, 2024 | 5:07 pm

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U.S. stocks rose with the Dow Jones, NASDAQ, and S&P 500 all gaining. Alzamend Neuro shares surged 418% due to a new partnership for a PTSD treatment study. Virax Biolabs shares increased 308% following WHO's virus emergency declaration. Sonder Holdings shares rose 46% after a licensing agreement with Marriott. Liquidia Corporation shares fell 39% after FDA's tentative approval of YUTREPIA. Theriva Biologics shares dropped 29% following a reverse stock split. Cingulate shares decreased 33% after increasing its stock offering price.

Portfolio Pulse from Avi Kapoor

August 19, 2024 | 4:28 pm

LQDA

Liquidia Corporation's stock fell over 33% after the FDA granted tentative approval for YUTREPIA, pending final approval in 2025. The company plans to challenge the FDA's decision to grant exclusivity to United Therapeutics for Tyvaso DPI.

Portfolio Pulse from Dylan Berman

August 19, 2024 | 4:28 pm