Streetbeat News

Regulatory

HOLX

Hologic Inc. has issued a recall for its BioZorb marker due to complications with implanted devices. The recall was announced by the FDA and affects patients who have received the BioZorb marker.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:51 pm

HOLX

Hologic, Inc. has issued a recall for its Biozorb Marker due to reported complications and adverse events with the implanted devices, as announced by the FDA.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:47 pm

AFRM

BNO

SPY

SQ

USO

President Biden plans to release 1 million barrels of gasoline to address rising fuel prices. The Consumer Financial Protection Bureau (CFPB) has classified Buy Now Pay Later (BNPL) apps as credit cards, impacting companies like Affirm (AFRM) and Square (SQ). The Federal Reserve's minutes are set to be released at 2:00 p.m., which could influence market sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:41 pm

AUID

AuthID (NASDAQ:AUID) reported its 1Q revenue, which was almost as high as its full-year 2023 revenue. The company provided guidance indicating that they expect quarterly revenue to double this year. The PPI and CPI data show mixed signals for inflation, with the PPI coming in higher than expected and the CPI slightly below expectations. Lyn Alden made a significant point about fiscal dominance, explaining how higher interest rates may not reduce inflation due to high government debt. DKI discussed the dollar's status as the world's reserve currency, noting that while institutional ownership of Treasuries is down, private foreign ownership is up.

Portfolio Pulse from Gary Brode

May 22, 2024 | 5:35 pm

GS

SPY

Goldman Sachs CEO David Solomon stated that he does not expect any rate cuts by the Federal Reserve this year. He described the U.S. economy as being in a 'slightly more fragile place' than a soft landing. Solomon noted that government spending and AI investments have mitigated the impact of higher rates on the U.S. economy. He also characterized the global economic environment as 'slow and sluggish.'

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:33 pm

AFRM

SQ

Shares of buy now pay later companies are trading lower due to reports that the CFPB will require them to have the same customer protections as credit card users.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:24 pm

NVO

Novo Nordisk's once-weekly insulin icodec faces scrutiny from the FDA due to increased risk of low blood sugar in type 1 diabetes patients. The FDA's review has been extended by three months, with a decision expected in Q3 2024. Novo Nordisk has proposed labeling to mitigate risks.

Portfolio Pulse from Vandana Singh

May 22, 2024 | 5:21 pm

SNY

Sanofi's Phase 2 study results for Rilzabrutinib show potential as the first advanced oral treatment for moderate-to-severe asthma. The data indicates a reduction in loss of asthma control events, improvement in symptoms, and good tolerance with no new safety signals. These results support further development into a Phase 3 program.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:16 pm

VFS

VinFast shares are trading lower due to ongoing concerns following reports of a US regulator investigation into a crash involving a VF 8 vehicle.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:15 pm

CSIQ

ENPH

FSLR

SEDG

Shares of solar stocks are trading higher following President Biden's decision to raise tariffs on Chinese solar cells.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 5:12 pm