Streetbeat News

Regulatory

SPY

VGK

White House National Security Adviser Sullivan announced that the U.S. has shipped long-range missiles to Ukraine and plans to send more, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 7:02 pm

DJT

Trump Media shares surged following a letter from the CEO to House GOP leaders, requesting an investigation into potential stock manipulation.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 6:38 pm

HUM

Humana Inc (NYSE:HUM) withdrew its 2025 profit forecast due to lower than expected Medicare Advantage reimbursement rates and a rise in medical benefit ratio to 88.9% in Q1. The company had previously lowered its 2025 Adjusted EPS growth target from $37 to $6-$10, but now finds even this revised target unachievable. Humana will provide more specific 2025 guidance later this year after finalizing pricing decisions for the 2025 Medicare Advantage bids.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 6:18 pm

LLY

NVO

The Senate Committee on Health, Education, Labor, and Pensions is investigating Novo Nordisk's pricing strategies for its medications Ozempic and Wegovy, amid concerns over their affordability and pricing discrepancies between the U.S. and other countries. Senator Bernie Sanders has also expressed intentions to scrutinize Eli Lilly's pricing for its medications, highlighting an industry-wide issue. The potential expansion of Medicare coverage for Wegovy could significantly impact Medicare beneficiaries with heart conditions and obesity, with broader coverage possibly anticipated by 2025.

Portfolio Pulse from Vandana Singh

April 24, 2024 | 6:14 pm

EWC

The Bank of Canada's minutes revealed that the Governing Council believes the rapid population growth and the anticipated decrease in non-permanent residents could complicate the economic activity and inflation outlook. This insight reflects the complexity of predicting economic trends in the face of demographic changes.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:33 pm

EWC

The Bank of Canada's minutes revealed that the Governing Council remains more concerned about upside risks to inflation, though both upside and downside risks are seen as less acute. The Council expressed increased confidence in inflationary pressures easing while growth continues.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:32 pm

EWC

The Bank of Canada's minutes revealed a division among members regarding the risk of maintaining a more restrictive monetary policy than necessary amid declining inflation. Some members worried about the potential for excessive restriction slowing the economy more than needed to bring inflation back to target, while others viewed the risk as lower.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:32 pm

EWC

The Bank of Canada's Governing Council was divided on the timing of rate cuts ahead of its April 10 announcement, with a consensus that any easing of monetary policy would be gradual. Members differed on the level of assurance needed to ensure inflation returns to the 2% target sustainably.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 5:31 pm

GELYY

PSNY

Polestar Automotive Holding UK Limited (NASDAQ:PSNY) is expanding production outside China due to tariff concerns and geopolitical tensions. CEO Thomas Ingenlath plans to increase exports of the Polestar 3 from South Carolina to the EU. This move comes as Chinese EV companies face scrutiny in Europe and the U.S. over state subsidies. After a major ownership restructuring, with Geely Automobile Holding (OTC:GELYY) and a private firm now holding a 69% stake, Polestar aims for a global sales distribution targeting 155,000 to 165,000 cars by 2025. PSNY shares dropped 3.94% to $1.23.

Portfolio Pulse from Shivani Kumaresan

April 24, 2024 | 5:31 pm

BHP

GLNCY

HZMMF

Indonesia, under its new president Prabowo Subianto, is expected to continue its dominant nickel production policies, impacting global nickel prices and competitors. The country's approach has led to a price slump, affecting financing and operations of nickel projects worldwide, including those by Horizonte Minerals Plc, BHP Group Ltd., and Glencore. Indonesia's strategy of adding value domestically and attracting investments for an electric vehicle battery supply chain is likely to keep global markets flooded with cheap nickel.

Portfolio Pulse from Matt Whittaker

April 24, 2024 | 5:25 pm