Streetbeat News

Regulatory

SPY

Fed Chair Powell commented that the recent Producer Price Index (PPI) reading was 'quite mixed', indicating a nuanced view on inflation pressures. This statement could influence market perceptions and monetary policy expectations.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:15 pm

AFMD

Affimed N.V. announced the acceptance of an abstract on preclinical data of its CD16A/CD123-targeting innate cell engager, AFM28, for presentation at the EHA 2024 Congress. The data demonstrates AFM28's effectiveness in controlling tumor growth and reducing leukemic blasts and stem cells in AML models.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:12 pm

F

LCID

RIVN

STLA

TSLA

Auto and EV stocks, including Ford (F), Lucid Motors (LCID), Rivian (RIVN), Stellantis (STLA), and Tesla (TSLA), are trading higher following President Biden's announcement of tariffs on Chinese EVs. This move is likely to benefit domestic and European manufacturers by making their vehicles more competitive against Chinese imports.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:10 pm

DVAX

The FDA declined to approve Dynavax Technologies Corporation's (DVAX) supplemental Biologics License Application for a four-dose HEPLISAV-B vaccine regimen for adults on hemodialysis, citing insufficient data. The decision does not affect the current approvals of HEPLISAV-B in the U.S., EU, and Great Britain, nor the recent approval in the EU for the hemodialysis population. Dynavax intends to meet with the FDA to discuss additional data support. Despite this, HEPLISAV-B's net product revenue increased, and its U.S. market share grew in the first quarter of 2024.

Portfolio Pulse from Vandana Singh

May 14, 2024 | 2:10 pm

SPY

Fed Chair Powell highlighted the lack of progress on U.S. inflation in Q1, emphasizing the need for patience and allowing policy to take effect. He expects continued GDP growth of 2% or better and anticipates inflation to decrease to levels similar to last year, though his confidence in this prediction has diminished.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:09 pm

AUTL

Autolus Therapeutics plc (NASDAQ:AUTL) announced the online publication of three abstracts on obe-cel for treating relapsed/refractory B-Cell Acute Lymphoblastic Leukemia, to be presented at the EHA Congress in June 2024.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 2:05 pm

SPY

VGK

The U.S. has implemented a ban on imports of Russian-enriched uranium starting August 11, as reported by Reuters citing the Energy Department. This move is part of broader sanctions against Russia, potentially affecting global uranium supply chains and energy markets.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 1:48 pm

SPY

Citadel's Ken Griffin stated that Trump would avoid regulatory overreach, contrasting with President Biden, whom he believes does not grasp the necessity of combating inflation aggressively.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 1:40 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares surged 64% after receiving a conditional commitment for a $1.66 billion loan guarantee from the Department of Energy to finance up to six green hydrogen production facilities. This move aligns with the Biden Administration's Justice 40 Initiative and marks a significant step in Plug Power's expansion of its green hydrogen network in the U.S.

Portfolio Pulse from Nabaparna Bhattacharya

May 14, 2024 | 1:26 pm

FSLR

NOVA

RUN

SEDG

Shares of solar companies such as First Solar (FSLR), Sunnova Energy (NOVA), Sunrun (RUN), and SolarEdge Technologies (SEDG) are trading higher after the Biden administration announced an increase in tariffs on Chinese solar panels.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 1:21 pm