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Regulatory

FXI

SPY

China's Vice Foreign Minister has urged the U.S. to stop 'smearing and pressuring' China and called for an end to 'unilateral' sanctions on Chinese enterprises during a meeting with the U.S. Deputy Secretary of State.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 3:16 pm

NVS

Novartis AG (NYSE:NVS) released new data showing the long-term efficacy and safety of remibrutinib for chronic spontaneous urticaria (CSU) and Scemblix for chronic myeloid leukemia. Remibrutinib showed significant symptom improvement and safety up to 52 weeks, while Scemblix demonstrated superior major molecular response rates compared to standard-of-care treatments.

Portfolio Pulse from Vandana Singh

May 31, 2024 | 3:02 pm

MRNA

Moderna's mRESVIA, the only single-dose pre-filled syringe RSV vaccine, has been approved by the FDA for adults aged 60 and older.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 3:00 pm

MCHI

MOMO

MTCH

Hello Group Inc. (NASDAQ:MOMO) reported accelerating revenue declines in Q1, leading to a 14% drop in its stock price. Despite its profitability and global expansion efforts, the company faces significant internal and external challenges, including weak consumer sentiment and regulatory issues. Analysts remain cautiously optimistic, with a majority rating the stock as a 'buy' or 'strong buy'.

Portfolio Pulse from The Bamboo Works

May 31, 2024 | 2:52 pm

MDLZ

Mondelez International Inc (NASDAQ:MDLZ) has resumed production of Oreo cookies in Ukraine after rebuilding its factory in Trostyanets, which was damaged during Russia's invasion. The company continues to operate in Russia despite boycotts and aims to make its Russian business self-sufficient by the end of 2023. Mondelez's products from Ukraine are being exported to Eurasian countries and sold domestically. The company faces shareholder pressure to assess the risks of continuing operations in Russia.

Portfolio Pulse from Shivani Kumaresan

May 31, 2024 | 2:45 pm

AMD

AVGO

Chinese scientists have developed a new jet engine technology inspired by shark skin, potentially shifting the balance of aerospace technology power. This innovation could impact major tech companies and aerospace players like Broadcom, AMD, and Boeing.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 2:40 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares are trading higher on Friday after hitting a new all-time low of 49 cents earlier in the week. The company is on the preliminary list for deletion from the Russell 3000 index, pending a vote on a reverse stock split to address potential delisting concerns.

Portfolio Pulse from Erica Kollmann

May 31, 2024 | 2:30 pm

AMD

DARP

INTC

MSFT

NVDA

SFY

TSM

Nvidia Corp (NASDAQ:NVDA) stock is experiencing volatility as it leads the AI race with advanced chips. CEO Jensen Huang will speak at Taiwan’s Computex event, where global chip company CEOs, including those from AMD, Intel, and TSM, will discuss AI prospects. The U.S. has issued a temporary embargo on exporting AI chips to the Middle East, affecting companies like Nvidia and AMD. Analysts see Nvidia as a key AI beneficiary, and its stock has gained over 192% in the last 12 months. Investors can gain exposure via Grizzle Growth ETF (NYSE:DARP) and SoFi Select 500 ETF (NYSE:SFY).

Portfolio Pulse from Anusuya Lahiri

May 31, 2024 | 2:29 pm

BIIB

IONS

The European Commission has granted marketing authorization for Biogen's Qalsody (tofersen) for treating amyotrophic lateral sclerosis (ALS) associated with a mutation in the SOD1 gene. This is the first treatment in the EU targeting a genetic cause of ALS. Despite the Phase 3 VALOR study showing numerical but not statistically significant efficacy, Qalsody has shown a significant reduction in neurofilament light chain levels. Biogen licensed Qalsody from Ionis Pharmaceuticals.

Portfolio Pulse from Vandana Singh

May 31, 2024 | 2:25 pm

DJT

SPY

The latest market summary from Benzinga highlights three key events: PCE inflation remains steady at 2.7% year-over-year, former President Donald Trump has been convicted in a New York trial, and Bill Ackman plans to take Pershing Square public by 2025.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 2:17 pm