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Regulatory

COIN

MARA

Cryptocurrency markets are experiencing choppy price action ahead of the FOMC meeting on Wednesday. Bitcoin and Dogecoin have erased earlier gains, while Ethereum is holding on. Notable developments include the U.S. government moving $2 billion worth of Bitcoin and the U.S. Marshall Service sending Bitcoin to Coinbase for custodianship. Crypto-related stocks like Coinbase and Marathon Digital surged following pro-Bitcoin comments from Donald Trump.

Portfolio Pulse from Khyathi Dalal

July 29, 2024 | 8:26 pm

AMRX

Amneal Pharmaceuticals has received FDA approval for its new Potassium Phosphates IV Infusion Bag, which is the first preservative-free single-dose presentation. This is the third 505(b)(2) injectable added by the company this year, and it will be launched in Q3.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 8:25 pm

CLSD

Clearside Biomedical's partner, Arctic Vision, has reported positive Phase 3 results for ARCATUS in treating uveitic macular edema. Additionally, New Drug Applications (NDAs) for ARCATUS have been accepted in Australia and Singapore.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 8:24 pm

CLDX

Celldex Therapeutics announced positive Phase 2 results for Barzolvolimab in treating Chronic Inducible Urticaria, achieving primary endpoints with significant complete response rates. The company plans to move forward with Phase 3 registration development.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 8:10 pm

VSTM

Verastem Oncology (NASDAQ: VSTM) has received FDA Orphan Drug Designation for its drugs avutometinib and defactinib for the treatment of pancreatic cancer. The company expects to report updated data from the ongoing RAMP 205 trial in Q1 2025.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 8:08 pm

CTEC

FSLR

ICLN

RAYS

TAN

VCLN

The Biden administration has doubled the U.S. tariff on Chinese solar panels to 50%, aiming to protect the domestic market from China's predatory behavior. First Solar's CEO, Mark Widmar, supports the move, emphasizing the need for a level playing field for U.S. manufacturers. The news comes ahead of First Solar's second-quarter earnings report. The tariff increase is seen as a measure to counteract China's oversupply of solar panels, which has been flooding international markets. The announcement has impacted the stock prices of First Solar and several clean energy ETFs.

Portfolio Pulse from Michael Juliano

July 29, 2024 | 8:03 pm

CHTR

Charter Communications has agreed to pay $15 million to resolve an FCC investigation into its compliance with 911 and network outage notification rules.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 7:33 pm

SPY

The US government has reduced its borrowing estimate for the July-September quarter to $740 billion from the previously projected $847 billion.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 7:05 pm

AAL

DAL

LUV

Delta Air Lines (DAL) shares are down 1.9% to $43.26, marking a 7.6% decrease for July. The stock was volatile last week, influenced by financial reports from American Airlines (AAL) and Southwest Airlines (LUV). Delta faces financial difficulties due to a system failure causing flight cancellations and a federal investigation. Citigroup cut Delta’s Q3 earnings estimate by 60 cents per share to $1.37, predicting a $350 million hit to operating profit and potential fines. Industry-wide issues like rising operating costs and capacity management challenges are also affecting Delta.

Portfolio Pulse from Henry Khederian

July 29, 2024 | 7:04 pm

EIS

ISRA

SPY

The U.S. is leading a diplomatic effort to prevent Israel from targeting Beirut and its southern suburbs in response to a strike in the Golan Heights. This move aims to de-escalate tensions in the region.

Portfolio Pulse from Benzinga Newsdesk

July 29, 2024 | 6:58 pm