Streetbeat News

Regulatory

SPY

Fed's Goolsbee expressed concern that the biggest threat to the inflation outlook is the persistent high inflation in housing services, noting that it has not decreased as quickly as anticipated.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 5:14 pm

NXL

Nexalin Technology has been awarded a key patent for its Gen-3 HALO Clarity, a noninvasive brain stimulation technology for treating insomnia, depression, and anxiety. This technology allows for home treatment with remote physician monitoring. The patents, critical to Nexalin's strategy, extend through 2040.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 5:12 pm

SPY

Fed's Barkin expressed confidence in achieving the 2% inflation target, highlighting its benefits and dismissing any interest in deviating from it. He also mentioned openness to discussing a range around the inflation target in the upcoming framework review.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 5:01 pm

ANGO

AngioDynamics Inc. (ANGO) received FDA 510(k) clearance for its AlphaVac F1885 System for pulmonary embolism, expanding treatment options. The APEX-AV study showed significant improvements in patient outcomes. Despite a slight miss in Q3 2024 sales against consensus, the company's pro forma sales showed growth. AngioDynamics provided an upbeat FY2024 financial outlook, expecting sales between $270 million-$275 million and an adjusted EPS of $(0.54)-$(0.58), leading to an 11.9% increase in ANGO shares to $6.81.

Portfolio Pulse from Vandana Singh

April 04, 2024 | 4:53 pm

NVS

Novartis announced plans to file for a label expansion of Pluvicto in H2 2024, based on data from the Phase III PSMAfore study. This move aims to broaden the use of Pluvicto before taxane treatment in patients, potentially enhancing its market and therapeutic reach.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:12 pm

SPY

Fed's Barkin expressed optimism that maintaining somewhat restrictive interest rates can bring inflation back to target without causing significant job losses, highlighting the economy's resilience. He acknowledged that tight monetary policy would slow the economy further but emphasized its lesser vulnerability.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:11 pm

SPY

Fed's Barkin expressed a balanced view on the economy, suggesting that while optimists could foresee a 'soft landing' due to economic strength, pessimists might focus on weakening demand or persistent inflation signs.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:10 pm

SPY

Fed's Barkin comments on the need for a slowdown in reported inflation to 'sustain and broaden'. He acknowledges that while all Fed officials are examining the same data, drawing uniform conclusions can be challenging.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:10 pm

VVOS

Vivos Therapeutics' shares surged following the announcement of a notice of allowance for its U.S. patent application for a device aimed at treating sleep disordered breathing, sleep apnea, and snoring.

Portfolio Pulse from Benzinga Newsdesk

April 04, 2024 | 4:01 pm

QQQ

SPY

The Bureau of Labor Statistics is set to release the March jobs report, with ADP's data showing strong private sector employment growth. Economists predict a surge of 200,000 non-farm payrolls, a decline from the previous month but still robust. Strong job growth in specific sectors and cooling inflation are noted. Expectations of the Federal Reserve's monetary policy could shift based on the report's outcome, affecting Treasury yields, the dollar, and interest rate-sensitive sectors. The SPDR S&P 500 ETF Trust and Invesco QQQ Trust experienced declines following the previous jobs report.

Portfolio Pulse from Piero Cingari

April 04, 2024 | 3:54 pm