Streetbeat News

Regulatory

COIN

Coinbase has filed lawsuits against the SEC and FDIC for not complying with FOIA requests, accusing them of hindering the crypto industry's access to banking. The lawsuits seek to compel these agencies to release information related to their regulatory actions against the digital-asset industry.

Portfolio Pulse from Murtuza Merchant

June 27, 2024 | 1:57 pm

BTCUSD

Wang Yang, Vice President of HKUST, criticized China's ban on cryptocurrency mining, calling it a missed opportunity that has benefited the U.S. with $4 billion in tax revenue. He suggested alternative solutions and highlighted the need for Hong Kong to play a more proactive role in the digital asset ecosystem.

Portfolio Pulse from Murtuza Merchant

June 27, 2024 | 1:53 pm

LYFT

UBER

Massachusetts has approved a measure that classifies Uber and Lyft drivers as independent contractors. This decision could have significant implications for the business models of both companies.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 1:52 pm

REGN

SNY

VRNA

The FDA has approved Verona Pharma's (NASDAQ:VRNA) Ohtuvayre (ensifentrine) for the maintenance treatment of COPD, marking the first inhaled product with a novel mechanism of action for COPD in over 20 years. The drug is expected to generate $3.6 billion in peak sales and will be available in Q3 2024. The FDA also extended the review date for Sanofi (NASDAQ:SNY) and Regeneron Pharmaceuticals' (NASDAQ:REGN) Dupixent for COPD treatment to September 27, 2024.

Portfolio Pulse from Vandana Singh

June 27, 2024 | 1:49 pm

BTCUSD

Crypto journalist Laura Shin predicts a potential rebound for Bitcoin (BTC) in July, following a typical June slump. Historical data shows Bitcoin often recovers strongly in July after a negative June. Factors like lack of new capital, selling pressure from the German government, and impending Mt. Gox disbursements are contributing to the current decline. However, experts suggest that the Mt. Gox repayments may not trigger a significant sell-off. JPMorgan analysts forecast temporary market pressure in July but expect a recovery in August.

Portfolio Pulse from Khyathi Dalal

June 27, 2024 | 1:47 pm

GRDI

Trading halt status for GRDI was updated at 9:45:00 AM ET. The halt was due to news and resumption times.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 1:45 pm

E

Eni S.p.A. (NYSE:E) has finalized a binding agreement to sell its Alaskan upstream assets to Hilcorp, aligning with its strategy to streamline operations and rebalance its portfolio. The transaction's value will be disclosed upon closing, pending regulatory approvals. Eni aims for a net portfolio inflow of ~$8.5 billion over 2024-27 by upgrading its upstream portfolio and reducing high equity ownership in exploration discoveries.

Portfolio Pulse from Lekha Gupta

June 27, 2024 | 1:44 pm

BAC

C

JPM

MS

USB

WFC

The Federal Reserve's 2024 Stress Test results revealed that major American banks, including Wells Fargo, Bank of America, Morgan Stanley, and U.S. Bancorp, faced higher-than-expected potential losses. The market is likely to view these results as disappointing, with significant increases in Stress Test Capital Buffers (SCBs) for several banks.

Portfolio Pulse from Piero Cingari

June 27, 2024 | 1:43 pm

GTBP

GT Biopharma has received FDA clearance for its GTB-3650 IND application, with a Phase 1 trial set to begin in H2 2024 and initial data expected in H1 2025. Additionally, the company plans to submit an IND for GTB-5550 in Q1 2025, targeting B7H3 positive solid tumors, with a Phase 1 trial to follow. The company's cash runway is expected to fund operations into 2025.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 1:16 pm

VRNS

Varonis Systems, Inc. (VRNS) has secured the FedRAMP 'In Process' designation, which is a significant step towards achieving full FedRAMP authorization. This designation indicates that Varonis is on track to meet the stringent security requirements necessary to provide cloud services to federal agencies.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 1:15 pm