A Food and Drug Administration panel is slated to meet tomorrow to discuss pharmaceutical firm Novartis' (NVS - Get Report) experimental gene therapy drug, a move which stands to benefit its peer Kite Pharma (KITE) , according to Canaccord Genuity.

Canaccord analyst John Newman reiterated his "Buy" rating and $115 price target on Kite Pharma Tuesday, saying that the briefing documents thus far are positive.

"We view the Novartis briefing documents as suggestive of FDA support for approval, and beneficial to all CART players," he noted. "Importantly, we will listen carefully to any details on manufacturing, which may benefit KITE. We believe safety for the CART class, specifically CRS, will be carefully managed, and will not prevent a positive panel vote and FDA approval."


What's Hot On TheStreet

Watch out, Apple: Louis Vuitton Tuesday unveiled its first smartwatch coined the Tambour Horizon in a bid to cut into Apple Inc's (AAPL - Get Report) hold on the wearables market, TheStreet reports.

The watch was made in conjunction with Alphabet's (GOOGL - Get Report) Google and Qualcomm Technology (QCOM - Get Report) and starts at a lofty $2,450. It works with both Apple and Android devices, and is the first Android Wear smartwatch that functions in China.

Yes, it's Amazon Prime Day: Although many probably have Amazon (AMZN - Get Report) Prime Day fatigue right now, that doesn't mean they won't be spending aggressively on big digital deals. Amazon stands to ring up more than $2 billion in sales worldwide during the 30-hour sale known as Prime Day, Internet Retailer predicts. The gain would mark about a 21% increase from a year ago. U.S. sales alone are pegged at $1.56 billion, up 20% from last year, TheStreet reports.

Bitcoin has crashed: Traders that have rode the wave higher in Bitcoin via cryptocurrency plays such as Advanced Micro Devices (AMD - Get Report) and Nvidia (NVDA - Get Report) may want to reconsider their bullishness. Bitcoin prices entered into bear market territory Tuesday, TheStreet reports, as an embarrassing legal case kicked off in Japan and experts continue to squabble over key changes to the cryptocurrency's infrastructure.

Bye-bye regulations: President Trump late Monday nominated former Treasury official Randal Quarles as the Federal Reserve's top bank supervisor. As TheStreet's Ron Orol reports, the nomination could lead the way to a dismantling of many Obama Administration bank regulations and is one that is expected to send a positive signal for now to big and regional bank stocks. Orol points out that the appointment could boost bank stocks such as Bank of America (BAC - Get Report) , Wells Fargo (WFC - Get Report) , Citigroup (C - Get Report) and Goldman Sachs (GS - Get Report) in the near-term.

Apple, Alphabet, Wells Fargo and Citigroup are holdings in Jim Cramer's Action Alerts PLUS Charitable Trust Portfolio. Want to be alerted before Cramer buys or sells AAPL, GOOGL, WFC and C? Learn more now.

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