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CVAC

MRNA

NVAX

The first human death from a new bird flu strain (H5N2) in Mexico has caused a surge in vaccine stocks. Moderna, CureVac, and Novavax have seen significant stock price increases due to heightened demand for vaccines. Analysts attribute the volatility to retail trading based on headlines rather than profit potential.

Portfolio Pulse from Natan Ponieman

June 06, 2024 | 6:21 pm

GME

HOOD

ILMN

LULU

MSFT

NVDA

SPY

Wall Street saw a quiet trading day as investors await the May jobs report. Nvidia fell 3% due to an antitrust investigation. The U.S. Justice Department and FTC are investigating Microsoft, OpenAI, and Nvidia for their roles in AI. Initial jobless claims rose, and first-quarter labor costs were revised lower, increasing expectations of a Fed rate cut. Commodities strengthened, with crude oil rising to $75 a barrel. Major indices traded within tight ranges, with notable stock movements including Illumina, Lululemon, Smartsheet, and GameStop.

Portfolio Pulse from Piero Cingari

June 06, 2024 | 6:08 pm

The FDA has rescinded the marketing denial orders (MDOs) issued to JUUL Labs Inc., returning the applications to pending status. This decision follows new case law and additional information provided by JUUL. The FDA continues its review of JUUL's applications, which must be authorized to be legally marketed. The rescission comes after the FDA's updated understanding of e-cigarette products and recent litigation outcomes. JUUL, which owns 41% of the $21.63 billion e-cigarette market, had faced a potential ban and financial difficulties.

Portfolio Pulse from Vandana Singh

June 06, 2024 | 6:08 pm

SPY

The Federal Reserve will release the results of its annual bank stress tests on June 26. These tests assess the resilience of major banks in the face of economic downturns.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 6:01 pm

AUUD

Auddia has received issuance for its patent application US20240185878A1, which focuses on identifying shifts in audio content via machine learning.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 5:49 pm

NVS

RHHBY

Italy's antitrust regulator is investigating Novartis AG and Roche Holdings AG-controlled Genentech for allegedly restricting competition in the sale of an eye drug, Byooviz. The probe focuses on potential delays in the Italian market launch of Byooviz, a biosimilar of Lucentis, due to coordinated strategies by these companies. The investigation could impact drug availability and prices for patients.

Portfolio Pulse from Vandana Singh

June 06, 2024 | 5:19 pm

COIN

ETHUSD

The approval of the Spot Ethereum ETF has been accelerated due to a rapid shift in political sentiment. This ETF is expected to attract up to $4 billion in inflows within six months, potentially causing a supply shock and driving up Ethereum prices. The situation is similar to the Bitcoin ETF launch, which saw significant demand and inflows.

Portfolio Pulse from Khyathi Dalal

June 06, 2024 | 5:03 pm

ABBV

AbbVie Inc (NYSE:ABBV) announced that its investigational drug Elahere met the primary endpoint in a Phase 2 trial for heavily pre-treated ovarian cancer patients. The study showed a 51.9% objective response rate and a median duration of response of 8.25 months. The safety profile was consistent with previous studies. Full data will be presented at a future medical meeting. Elahere, acquired through a $10 billion acquisition of Immunogen Inc, has also received FDA approval for certain ovarian cancer patients.

Portfolio Pulse from Vandana Singh

June 06, 2024 | 5:02 pm

BYFC

Broadway Financial Corporation (NASDAQ:BYFC) has regained compliance with Nasdaq Listing Rule 5250(c)(1) after filing its Form 10-Q for the period ended March 31, 2024. Nasdaq has closed the matter.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 5:02 pm

GNS

Genius Group shares are trading higher following the company's announcement of compliance with NYSE Guidelines on audit opinion and the issuance of 2024 guidance.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 4:36 pm