Streetbeat News

Regulatory

GOOGL

USO

U.S. markets closed higher due to Federal Reserve minutes indicating support for a rate cut. Tech stocks were mixed, with Alphabet down 1.5% due to antitrust concerns. Crude oil prices surged on supply risks, while U.S. futures and the dollar index showed slight declines.

Portfolio Pulse from Akanksha Bakshi

October 10, 2024 | 10:26 am

GOOGL

MSFT

OpenAI has revealed that its platform is being misused for election interference globally, but no significant breakthroughs in creating new malware or viral content have been observed. The report comes ahead of the U.S. presidential election, where Kamala Harris leads Donald Trump in polls.

Portfolio Pulse from Ananya Gairola

October 10, 2024 | 9:43 am

ALVO

Alvotech announced that the European Medicines Agency has accepted its marketing authorization application for AVT03, a proposed biosimilar to Prolia and Xgeva. This development is a significant step for Alvotech in expanding its biosimilar portfolio.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 9:35 am

TD

TD Bank is expected to pay approximately $3 billion in penalties as part of an anti-money-laundering settlement. This settlement may also include growth restrictions for the bank in the U.S.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 9:10 am

BABA

BIDU

JD

LI

MCHI

NIO

TCEHY

XPEV

The People's Bank of China (PBoC) announced new measures to stabilize the Chinese equity market, leading to a significant rally in both the Shanghai Composite Index and Hong Kong's Hang Seng Index. This positive sentiment extended to US-listed Chinese stocks, with notable gains for Alibaba, XPeng, Li Auto, Nio, JD.com, Tencent, and Baidu. The iShares MSCI China ETF, however, ended the previous session down.

Portfolio Pulse from Shanthi Rexaline

October 10, 2024 | 6:14 am

PHAR

Pharming Group has initiated a Phase II clinical trial for leniolisib, targeting rare primary immunodeficiencies with immune dysregulation. The trial, conducted at the NIH, will focus on conditions linked to altered PI3Kẟ signaling.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 5:26 am

COIN

Cathie Wood and Michael Saylor congratulated Coinbase CEO Brian Armstrong on his marriage to Angela Meng. Armstrong's personal life event coincides with a dynamic period for Coinbase, marked by record growth due to Bitcoin ETFs and ongoing regulatory challenges.

Portfolio Pulse from Benzinga Neuro

October 10, 2024 | 4:50 am

JPM

Economist Claudia Sahm criticized a proposal by Trump advisor Scott Bessent to establish a 'shadow Fed chair,' potentially undermining current Federal Reserve Chair Jerome Powell. The plan aims to nominate a new Fed chair in 2025, turning Powell into a 'lame duck.' This proposal comes amid Trump's disapproval of recent Federal Reserve actions and his previous assurance not to displace Powell before his term ends.

Portfolio Pulse from Shivdeep Dhaliwal

October 10, 2024 | 3:15 am

TCNNF

In Florida, cannabis legalization is the dominant issue in the 2024 election, with $68 million spent on ads for Amendment 3, compared to just $1.4 million for the presidential race. Trulieve Cannabis Corp. has invested $55 million in support of the amendment.

Portfolio Pulse from Nicolás Jose Rodriguez

October 10, 2024 | 2:49 am

CI

CVS

UNH

Bernie Sanders and Alexandria Ocasio-Cortez defend FTC Chair Lina Khan against calls for her removal, emphasizing her role in fighting corporate greed and monopolies. Mark Cuban criticizes Khan's approach, fearing it may hinder AI development. The FTC, under Khan, has filed complaints against major pharmacy benefit managers like CVS, Cigna, and UnitedHealth for anti-competitive practices.

Portfolio Pulse from Shivdeep Dhaliwal

October 10, 2024 | 2:26 am