Streetbeat News

Regulatory

MSOS

The U.S. dollar's recent strength poses challenges for cannabis investments, particularly the AdvisorShares Pure US Cannabis ETF (NYSE:MSOS). Despite a recent 3% gain and a 14% recovery since last Monday, MSOS has faced significant volatility, including a 40% drop over six weeks. Key support levels at $7.50 and $7.30 have held firm, with resistance around $8.00. Broader market dynamics, regulatory hurdles, and competitive pressures continue to impact the cannabis sector.

Portfolio Pulse from Nicolás Jose Rodriguez

June 26, 2024 | 10:32 pm

VRNA

Trading halt status for VRNA was updated at 5:25:00 PM ET. The news and resumption times are expected to follow.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 9:25 pm

COIN

Cryptocurrency markets are down as major governments liquidate Bitcoin holdings. Bitcoin, Ethereum, and Dogecoin see declines. Bitcoin Spot ETFs report net inflows, while Ethereum ETFs are expected to launch by July 4. Notable developments include German authorities selling seized Bitcoin and Argentinian President advocating for Bitcoin.

Portfolio Pulse from Khyathi Dalal

June 26, 2024 | 9:17 pm

ALLY

BCS

CFG

CIA

COF

DFS

GS

TFC

XLF

The Federal Reserve's 2024 stress test reveals that large banks face greater projected losses than last year but remain well-capitalized to endure a severe recession. Key banks like Ally Financial, Discover Financial Services, and Goldman Sachs are notably impacted by increased credit card losses, riskier corporate credit portfolios, and higher expenses. Despite these challenges, all 31 banks tested remain above their minimum capital requirements.

Portfolio Pulse from Piero Cingari

June 26, 2024 | 9:12 pm

VRNA

Verona Pharma announced that the FDA has approved Ohtuvayre (Ensifentrine) for the maintenance treatment of Chronic Obstructive Pulmonary Disease (COPD) in adult patients. This is the first inhaled product with a novel mechanism of action for COPD in over 20 years. The company plans to launch the product in Q3 2024 through an exclusive network of accredited specialty pharmacies.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 8:59 pm

VRNA

Trading for VRNA was halted at 4:57:21 p.m. ET due to pending news. Investors should stay tuned for further updates.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 8:57 pm

MO

Altria has submitted Premarket Tobacco Product Applications (PMTAs) to the FDA for its on! PLUS oral nicotine pouch products. This move is part of Altria's strategy to expand its portfolio in the reduced-risk product category.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 8:54 pm

GLYC

On June 21, GlycoMimetics received a notice from Nasdaq indicating that the company is not in compliance with Nasdaq's Listing Rule 5450(a)(1).

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 8:35 pm

SPY

The 2024 stress test results indicate that the 31 large banks subject to the test have sufficient capital to absorb nearly $685 billion in losses and continue lending to households and businesses under stressful conditions.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 8:32 pm

BMO

CFG

HSBC

The Federal Reserve's bank stress test results revealed that BMO, Citizens Financial, and HSBC had the lowest capital ratios. Banks are allowed to report their capital plans to investors starting Friday afternoon after the US market closes.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 8:32 pm