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Regulatory

AAL

DAL

LUV

UAL

Congressional negotiators are set to enhance the provisions regarding airline refunds in the upcoming U.S. aviation bill, according to Reuters. This move could significantly impact airlines' operations and financial strategies, ensuring more robust consumer protection in cases of flight cancellations and delays.

Portfolio Pulse from Charles Gross

May 07, 2024 | 8:44 pm

SPY

The S&P 500 (SPY) saw a 1% increase on Monday, driven by optimism over potential interest rate cuts by the Federal Reserve and strong earnings forecasts. Despite a 5.9% drop from March 28th to May 19th, the index has recovered, showing a year-to-date increase of 8.9%. Positive comments from Fed officials and a 5% expected earnings growth for S&P 500 companies contribute to the optimistic outlook. The index is nearing its all-time high, supported by a strong performance across various sectors, particularly industrials.

Portfolio Pulse from Zaheer Anwari

May 07, 2024 | 8:35 pm

INTC

QCOM

SOXX

The Biden administration has revoked export licenses for Intel Corp. and Qualcomm Inc., preventing them from supplying chips to Huawei. This decision is part of a broader U.S. strategy to address national security concerns related to Huawei's technological advancements and alleged cyber espionage activities. The move has led to a decrease in the share prices of Qualcomm and Intel, as well as a slight drop in the iShares Semiconductor ETF (SOXX). Other U.S. chipmakers like Broadcom Inc., Micron Technology Inc., Advanced Micro Devices, and Microsoft Corp., along with smaller firms such as Lumentum Holdings Inc. and Qorvo Inc., could also be impacted due to their business with Huawei.

Portfolio Pulse from Piero Cingari

May 07, 2024 | 8:23 pm

UEC

UROY

UUUU

The U.S. Senate voted to ban nuclear fuel from Russia, a move anticipated by uranium mining executives despite delays. The ban, expected to be signed by President Biden, unlocks $2.7 billion for domestic uranium supply chain development. Executives from enCore Energy Corp. (EU), Uranium Royalty Corp. (UROY), Energy Fuels Inc. (UUUU), and Uranium Energy Corp. (UEC) had anticipated the ban, citing broad bipartisan support and the need to deprive Moscow of war funding. The death of Russian activist Alexei Navalny and Russia's invasion of Ukraine added urgency to the ban.

Portfolio Pulse from Matt Whittaker

May 07, 2024 | 8:00 pm

EIS

USO

Israeli forces seized control of the Rafah crossing, escalating tensions with Hamas and complicating ceasefire negotiations. The U.S. has delayed military shipments to Israel, including precision-guided munitions from Boeing Co., as a sign of discontent with Israel's actions. The UN Secretary-General condemned the assault, warning of a humanitarian nightmare. Israeli stocks, including the iShares MSCI Israel ETF, rose, while oil prices remained stable, with the United States Oil Fund seeing a slight increase.

Portfolio Pulse from Piero Cingari

May 07, 2024 | 7:36 pm

ARKF

ARKW

COIN

HOOD

Mizuho analyst Dan Dolev reiterated a Buy rating on Robinhood Markets, Inc (HOOD) with a price target of $21, despite SEC challenges related to Robinhood Crypto. The concerns are deemed overblown, with historical context and financial metrics supporting a positive outlook. HOOD's stock has risen, reflecting market confidence. Coinbase Global, Inc (COIN) also saw a significant increase after receiving a Wells Notice. Robinhood's performance and valuation metrics are highlighted, with exposure to HOOD available through ARK ETFs ARKW and ARKF.

Portfolio Pulse from Anusuya Lahiri

May 07, 2024 | 7:36 pm

LGVN

Longeveron has been granted U.S. Patent #11975068 for using mesenchymal stem cells as vaccine adjuvants, a method that could potentially enhance vaccine efficacy. This patent represents a significant advancement in vaccine technology and could open new avenues for vaccine development, leveraging the unique properties of mesenchymal stem cells to improve immune responses.

Portfolio Pulse from Charles Gross

May 07, 2024 | 6:55 pm

BTCUSD

A Standard Chartered report suggests that a potential return of Donald Trump to the presidency could significantly boost the cryptocurrency sector by creating a more supportive regulatory environment. This could lead to higher cryptocurrency valuations, with Bitcoin potentially reaching $150,000 by the end of this year and $200,000 by 2025. The report highlights the positive correlation between Bitcoin price and certain economic developments that could be influenced by Trump's policies.

Portfolio Pulse from Murtuza Merchant

May 07, 2024 | 6:39 pm

NVO

Novo Nordisk has requested additional time to respond to Senator Bernie Sanders regarding inquiries about the pricing of Ozempic, aiming to extend their deadline past May 8.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:37 pm

Ford is planning to limit the sales of petrol cars in the UK to meet its electric vehicle (EV) targets, according to the Financial Times.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:32 pm