Streetbeat News

Revenues

EWU

U.K. core retail sales for November showed an increase of 0.3% year-over-year, compared to the revised prior figure of -2.1%.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 7:20 am

AMZN

Amazon's Prime Video is gearing up for an aggressive content production phase in India for 2024, following a significant expansion in 2023. The platform premiered 24 original shows in India last year and plans to target both individual viewers and households. Amazon's global content investment reached $17 billion in 2022, with Indian productions featuring prominently on Prime Video's top 10 worldwide. Prime Video Channels in India now has 23 content partners and the Prime Video Store boasts the largest movie library in India. Live sports, including New Zealand Cricket rights, are also a strategic focus, with the recent addition of FanCode to Prime Video Channels.

Portfolio Pulse from Shomik Sen Bhattacharjee

December 22, 2023 | 6:30 am

BBJP

DXJ

EWJ

Japan's National Core Consumer Price Index (CPI) for November came in at 2.5%, which was in line with estimates and lower than the previous value of 2.9%. This indicates a slight cooling in inflation.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 5:11 am

F

GM

TSLA

Ford Motor Co (F) and General Motors Co (GM) will lose EV tax credits on certain vehicles from 2024 due to new U.S. treasury guidelines. GM's Cadillac Lyriq and Chevrolet Blazer EV will temporarily lose the $7,500 federal EV tax credit, while the Chevrolet Bolt EV remains eligible. Ford will lose tax credits for the E-Transit, Mustang Mach-E, and Lincoln Aviator Grand Touring plug-in hybrid. The F-150 Lightning and Lincoln Corsair Grand Touring will retain their credits. Tesla Inc's (TSLA) Model 3 variants will also not be eligible for tax credits starting next year.

Portfolio Pulse from Anan Ashraf

December 22, 2023 | 4:59 am

HUGE

FSD Pharma (NASDAQ:HUGE), originally a licensed cannabis producer, has transitioned into biotech with two innovative products: UNBUZZD, a drink for rapid recovery from inebriation, and Lucid-MS, a drug candidate for Multiple Sclerosis (MS) treatment. UNBUZZD, developed by Lucid Psycheceutical, is expected to launch by Q1 2024 and aims to reduce Breath Alcohol Concentration quickly using natural ingredients. Lucid-MS represents a novel approach to MS treatment by promoting re-myelination rather than immunosuppression, with promising preclinical results and ongoing Phase 1 trials. The global MS treatment market was valued at $23 billion in 2022.

Portfolio Pulse from Lara Goldstein

December 22, 2023 | 3:19 am

ALGOUSD

BONKUSD

BTCUSD

DOGEUSD

ETHUSD

NEARUSD

Cryptocurrencies surged after jobless claims data indicated a cooling economy. Bitcoin, Ethereum, and Dogecoin saw gains, with Bitcoin expected to reach $51K pre-ETF. U.S. GDP growth slowed to 4.9% in Q3. El Salvador passed a law for instant citizenship via Bitcoin donations. The global crypto market cap increased by 2.14%. U.S. stocks rebounded, with the Nasdaq and S&P 500 posting gains. Analysts predict a Bitcoin peak in January and a potential Ethereum rally to $3,500. Santiment warns of high Bitcoin supply in profit, suggesting caution, while highlighting $MATIC and $LTC as safer opportunities.

Portfolio Pulse from Mehab Qureshi

December 22, 2023 | 2:59 am

MNOV

MediciNova announced that an abstract on their drug MN-166 (ibudilast) for treating chlorine gas-induced lung injury has been accepted for presentation at the Society of Toxicology's 63rd Annual Meeting. This could indicate progress in the drug's development and potential for future applications in treating lung injuries caused by toxic gas exposure.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 11:04 pm

CGC

A study from Georgia College & State University and Kennesaw State University found that marijuana legalization correlates with improved college basketball recruiting but a decline in football recruiting. The study, published in the Journal of Sports Economics, used data from 2003 to 2019. It suggests that the NBA's lenient stance on marijuana may influence basketball recruits, while the NFL's stricter policy could deter football recruits. The study also notes the evolving policies of professional leagues, including the NBA's removal of marijuana from its banned substances list and the NFL's relaxed off-season testing. Canopy Growth Corp. (NASDAQ:CGC) is involved in research with the NHL Alumni Association on cannabinoids for post-concussion treatment.

Portfolio Pulse from Joana Scopel

December 21, 2023 | 9:30 pm

RYAN

Ryan Specialty (NYSE:RYAN) has signed an agreement to acquire Castel Underwriting Agencies from Arch Financial Holdings (UK) Limited and minority shareholders. Castel, with offices in the UK, Netherlands, and Belgium, brings a diverse portfolio of underwriting expertise to Ryan Specialty's MGU portfolio. The acquisition, which is expected to close in the first half of 2024, will expand Ryan Specialty's UK and European footprint and is part of their strategy to grow their total addressable market. Castel's operating revenue for the 12 months ended November 30, 2023, was approximately £35 million. Terms of the deal were not disclosed, and the closure is subject to regulatory approvals.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:09 pm

AVO

Mission Produce (NASDAQ:AVO) reported Q4 adjusted earnings of $0.11 per share, surpassing the consensus estimate of $0.10, but representing a 15.38% decrease from the previous year's $0.13 per share. Quarterly sales were $257.90M, falling short of the $288.45M estimate, yet marking an 8.36% increase from the prior year's $238.00M.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:08 pm