Streetbeat News

Regulatory

CAPR

Capricor Therapeutics (NASDAQ: CAPR) shares are trading higher after the company reported progress on its CAP-1002 treatment for Duchenne Muscular Dystrophy. The FDA has agreed to a pre-Biologics License Application meeting, allowing a rolling submission starting in Q3 2024.

Portfolio Pulse from Dylan Berman

June 11, 2024 | 7:27 pm

COF

DFS

Capital One is in discussions with the U.S. Federal Reserve and the Office of the Comptroller of the Currency regarding its acquisition of Discover Financial. The deal is expected to close between late 2024 and early 2025, as previously anticipated. Capital One is also monitoring the Basel III Endgame implementation concerning capital returns to shareholders.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 7:15 pm

BTCUSD

ETHUSD

Crypto analyst Michaël van de Poppe predicts that altcoins, including Ethereum, may quickly rebound after the upcoming FOMC meeting. He attributes the current decline in altcoin prices to market weakness, economic events, and the anticipation of the Federal Reserve's decisions. Van de Poppe is optimistic about a potential reversal post-FOMC meeting and the approval of the Ethereum ETF.

Portfolio Pulse from Khyathi Dalal

June 11, 2024 | 7:14 pm

AXP

C

COF

DB

NMR

STT

SYF

Shares of banks and financial services stocks are trading lower due to uncertainty ahead of Wednesday's Fed decision.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 7:09 pm

SPY

President Biden delivered remarks at Everytown's Gun Sense University, focusing on gun control measures and public safety. The speech emphasized the administration's commitment to reducing gun violence through legislative and executive actions.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 6:39 pm

GSIT

GSI Technology has been granted U.S. Patent #12008068 for in-memory matrix multiplication and its usage in neural networks. This patent could enhance the company's technological capabilities and market position in the AI and neural network sectors.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 6:37 pm

BIIB

LLY

Eli Lilly's Alzheimer's treatment, donanemab, received a favorable verdict from an FDA advisory committee, boosting its stock potential. BofA analyst Geoff Meacham reiterated a Buy rating with a $1,000 price target for Eli Lilly (LLY). The verdict supports regulatory approval for donanemab, which is expected to have a label similar to Biogen's (BIIB) Leqembi. However, challenges in commercial implementation and potential risks from competing products and drug pricing system restructuring remain.

Portfolio Pulse from Nabaparna Bhattacharya

June 11, 2024 | 6:19 pm

GOOGL

META

MSFT

NVDA

SPY

Senators have introduced a bipartisan bill to establish AI guardrails for the federal government, aiming to ensure the safe and secure adoption of artificial intelligence technologies.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 6:18 pm

USDTUSD

Tether Holdings plans to invest over $1 billion in AI, biotech, and financial infrastructure over the next 12 months. The company is diversifying its business model beyond stablecoins, maintaining a strong reserve strategy, and expanding into digital token bonds and equity issuance.

Portfolio Pulse from Khyathi Dalal

June 11, 2024 | 6:11 pm

LI

NIO

XPEV

Shares of Chinese EV stocks, including LI, NIO, and XPEV, are trading lower due to reports that the EU is expected to unveil tariffs this week.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 6:09 pm