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SPY

Fed Chair Powell's event has concluded, as reported by Bloomberg TV.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 5:21 pm

GOEV

LCID

PSNY

VFS

WKHS

Automotive stocks, including Canoo Inc (NASDAQ:GOEV), Lucid Group, Inc (NASDAQ:LCID), Polestar Automotive Holding UK (NASDAQ:PSNY), VinFast Auto (NASDAQ:VFS), and Workhorse Group, Inc (NASDAQ:WKHS), are trading lower due to China's slower-than-expected second-quarter economic growth. The Chinese economy grew by 4.7%, missing the 5.1% forecast, leading to cautious consumer spending and price cuts in various sectors.

Portfolio Pulse from Anusuya Lahiri

July 15, 2024 | 5:16 pm

BAX

Baxter International Inc. (BAX) has recalled its LIFE2000 ventilator due to a potential failure of the battery charging dongle. The FDA has identified this recall as the most serious type.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 5:16 pm

AKRO

LLY

NVO

Cantor Fitzgerald analyst Louise Chen reiterated an Overweight rating on Eli Lilly (NYSE:LLY) with a price target of $885. The company will report its Q2 FY24 earnings on August 8, which will include $154 million in acquired IPR&D charges. Key growth drivers include potential U.S. approval for Lebrikizumab, the Morphic acquisition, and results from various clinical trials. Competitive readouts from Novo Nordisk (NYSE:NVO) and Akero Therapeutics (NASDAQ:AKRO) are also anticipated.

Portfolio Pulse from Shivani Kumaresan

July 15, 2024 | 5:13 pm

CING

Cingulate has been granted European Patent Number EP3261625 for its 'Tripulse Release Stimulant Formulations' aimed at treating Attention Deficit/Hyperactivity Disorder (ADHD). This patent could enhance Cingulate's market position and intellectual property portfolio.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 5:09 pm

SPY

Fed Chair Powell revealed that the Federal Reserve has used ChatGPT to generate test questions for press conferences, but not for monetary policy decisions.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 5:08 pm

MULN

Mullen Automotive's subsidiary, Bollinger Motors, has secured an agreement to sell 70 all-electric Class 4 Bollinger B4 commercial EV trucks to Doering Fleet Management, valued at approximately $11.5 million. Despite an initial spike, Mullen's stock remains slightly lower on the session.

Portfolio Pulse from Erica Kollmann

July 15, 2024 | 5:07 pm

COIN

UNIUSD

Uniswap (UNI) is in a regulatory battle with the SEC over privacy mandates, but decentralized exchanges (DEXs) remain committed to privacy. Despite the SEC's strict regulatory environment, Uniswap investors are seeing positive returns. The SEC's actions could impact the privacy features of DEXs, but the sector views this as both a challenge and an opportunity for innovation.

Portfolio Pulse from Kenneth Rapoza

July 15, 2024 | 5:02 pm

DOGEUSD

FLOKIUSD

SHIBUSD

Floki (FLOKI) has seen a 20% gain, surpassing other meme coins like Dogecoin (DOGE) and Shiba Inu (SHIB). The rally is driven by Ethereum ETF hype and a new educational course by Revolut. Traders predict further gains for Floki, citing strong fundamentals and upcoming marketing announcements.

Portfolio Pulse from Khyathi Dalal

July 15, 2024 | 5:02 pm

VRTX

Vertex Pharmaceuticals has filed a lawsuit against the U.S. Department of Health and Human Services regarding its Casgevy gene editing therapy.

Portfolio Pulse from Benzinga Newsdesk

July 15, 2024 | 5:00 pm