Streetbeat News

Regulatory

SAVA

A federal grand jury has indicted Hoau-Yan Wang, a Pennsylvania man, for defrauding the NIH of $16 million in federal grant funds by allegedly fabricating scientific data in grant applications for Alzheimer's research. Wang faces charges of major fraud, wire fraud, and false statements, and could face up to 55 years in prison if convicted.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:25 pm

COIN

ETHE

The SEC has filed a lawsuit against ConsenSys, alleging the firm failed to register as a broker. This legal action could have significant implications for the cryptocurrency market and related companies.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:21 pm

MRNA

Moderna, Inc. (NASDAQ:MRNA) stock is trending on Friday following the European Medicines Agency’s positive opinion on its RSV vaccine, mRNA-1345, for adults aged 60 and older. The vaccine showed an efficacy rate of 83.7% in a Phase 3 trial. Analysts have recently adjusted their price targets for Moderna.

Portfolio Pulse from Dylan Berman

June 28, 2024 | 5:15 pm

CMND

Clearmind Medicine Inc. (NASDAQ:CMND) shares surged after the company announced a patent approval in Hong Kong for its MEAI-based binge behavior regulator program. The stock saw heavy trading volume, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

June 28, 2024 | 5:11 pm

GLNCY

Experts, including an executive from Glencore ADR (OTC:GLNCY), highlight that the U.S. permitting system is hindering the domestic battery metals industry. They argue that the slow permitting process creates uncertainty, making it difficult to attract capital and develop projects, which in turn affects the supply chain for battery materials.

Portfolio Pulse from Matt Whittaker

June 28, 2024 | 5:01 pm

SPY

Fed's Bowman indicates that Congress is not interested in pursuing a Central Bank Digital Currency. She also mentions strong employment figures but notes that the inflation goal has not yet been reached. The Fed will continue its efforts to achieve its inflation target at its own pace.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 5:00 pm

AFRM

AXP

DFS

JMP Securities analyst David Scharf initiated coverage on Affirm Holdings Inc (NASDAQ:AFRM) with a Market Perform rating, citing strong growth and fair valuation amid regulatory risks. Affirm's business model has diversified, but it faces the same risks as other non-prime lenders. Shares are trading at a higher valuation compared to American Express (NYSE:AXP) and Discover Financial Services (NYSE:DFS).

Portfolio Pulse from Anusuya Lahiri

June 28, 2024 | 4:59 pm

CXW

DJT

GEO

Prison stocks, specifically The Geo Group (NYSE:GEO) and CoreCivic Inc (NYSE:CXW), saw gains following the first 2024 presidential debate, where immigration was a key topic. Trump Media & Technology Group (NASDAQ:DJT) initially surged but later fell. Analysts like Andrew Left and Michael Burry are bullish on GEO due to its role in immigration detention and government contracts.

Portfolio Pulse from Chris Katje

June 28, 2024 | 4:57 pm

ACB

CGC

MJ

MSOS

Shares of cannabis stocks are trading lower as investors assess the implications of Thursday's presidential debate and the 2024 election outlook.

Portfolio Pulse from Bill Haddad

June 28, 2024 | 4:46 pm

LEU

The U.S. government will invest $2.7 billion in domestic uranium enrichment to reduce reliance on Russian imports and strengthen national security. This initiative will benefit U.S.-based nuclear fuel suppliers like Centrus Energy Corp (AMEX:LEU).

Portfolio Pulse from Stjepan Kalinic

June 28, 2024 | 4:31 pm