Streetbeat News

Regulatory

SPY

NATO will station a senior civilian official in Kyiv as part of new measures to support Ukraine, to be announced at the upcoming summit in Washington.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 7:25 pm

SPY

President Joe Biden is planning increased engagement with voters and journalists in July to reassure Democrats after a poor debate performance. This includes potential town halls, interviews, and press conferences. The Biden administration is also hosting a NATO summit and monitoring opinion polls. A pro-Biden super PAC will launch a new ad campaign targeting battleground states.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 6:35 pm

AMD

NVDA

Shares of Advanced Micro Devices Inc. (AMD) are falling due to sector-wide sell-off after strong performance in early 2024 driven by AI momentum. Despite high P/E ratio, AMD shows potential undervaluation in P/B and P/S ratios but faces inefficiency and financial challenges. Nvidia (NVDA) is also under regulatory scrutiny, impacting the semiconductor sector.

Portfolio Pulse from Vaishali Prayag

July 01, 2024 | 6:28 pm

AMC

CHWY

GME

AMC Entertainment Holdings Inc (NYSE:AMC) shares are experiencing volatility due to multiple factors. The success of 'Inside Out 2' at the box office, generating $1.014 billion globally, is a positive development. However, the news of GameStop Corp (NYSE:GME) trader Keith Gill's new stake in Chewy Inc (NYSE:CHWY) and the subsequent drop in GameStop shares are weighing on AMC. Additionally, AMC is in talks with lenders to reduce its $2.8 billion debt due in 2026.

Portfolio Pulse from Adam Eckert

July 01, 2024 | 6:24 pm

COIN

The U.S. Marshals Service has selected Coinbase Prime (NASDAQ:COIN) to custody and trade $32M in large cap digital assets. This decision highlights the growing trust in Coinbase's secure infrastructure and its role in institutional digital asset management.

Portfolio Pulse from Murtuza Merchant

July 01, 2024 | 6:02 pm

HUMA

Humacyte, Inc. (NASDAQ:HUMA) saw a 15% increase in its stock price after receiving the FDA's Regenerative Medicine Advanced Therapy (RMAT) designation for its Acellular Tissue Engineered Vessel (ATEV) for treating Advanced Peripheral Artery Disease (PAD). This is the third RMAT designation for Humacyte, which aims to expedite the development and review of therapies for serious conditions.

Portfolio Pulse from Dylan Berman

July 01, 2024 | 5:39 pm

MSOS

WEED

Roundhill Investments has announced a fee waiver for its Roundhill Cannabis ETF (BATS:WEED), reducing its expense ratio to 0% until July 1, 2025. This move aims to capitalize on the anticipated reclassification of cannabis to Schedule III, which could benefit the industry through reduced penalties and tax advantages. The AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) has also shown resilience, highlighting potential stabilization in the sector.

Portfolio Pulse from Patricio Liddle

July 01, 2024 | 5:29 pm

AMD

NVDA

Nvidia (NVDA) and Advanced Micro Devices (AMD) are trading lower due to regulatory scrutiny and market dynamics. Nvidia faces antitrust charges from French regulators, while Morgan Stanley analyst Joseph Moore remains optimistic about Nvidia's near-term prospects, raising the price target from $116 to $144.

Portfolio Pulse from Anusuya Lahiri

July 01, 2024 | 5:16 pm

TEVA

The FTC has launched an investigation into Teva Pharmaceutical Industries Ltd (NYSE:TEVA) over alleged patent abuse related to its asthma and COPD inhalers. The FTC claims Teva's practices have blocked generic competition, leading to higher prices in the U.S. Teva is also in discussions to settle a lawsuit with the DOJ over alleged kickbacks.

Portfolio Pulse from Vandana Singh

July 01, 2024 | 5:05 pm

BTCUSD

ETHUSD

10x Research warns of a potential Bitcoin downturn to $55,000, citing technical indicators, political factors, and macroeconomic conditions. The report highlights concerns about institutional adoption, miner selling, and seasonal trends.

Portfolio Pulse from Murtuza Merchant

July 01, 2024 | 4:51 pm