Streetbeat News

Regulatory

ALB

LAC

LIT

SQM

Shares of lithium stocks are trading higher following Chile's announcement to open 26 lithium salt flats for investment. This move is expected to significantly increase lithium production, benefiting companies involved in lithium mining and lithium-related ETFs.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 7:43 pm

MRK

Merck & Co Inc (NYSE:MRK) received FDA approval for Winrevair, a therapy for pulmonary arterial hypertension, driving its stock up by 3.96%. The approval, following Merck's $11 billion acquisition of Acceleron Pharma, reflects investor confidence in Winrevair's market potential. Technical analysis shows a bullish trend for Merck, with indicators suggesting buying opportunities despite potential short-term volatility.

Portfolio Pulse from Surbhi Jain

March 27, 2024 | 7:00 pm

GPN

TOST

Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA) have reached a settlement with U.S. merchants to lower credit card interchange fees by 4bps and cap swipe fees until 2030. This deal also removes anti-steering provisions, potentially benefiting merchant acquirers like Block, Inc (NYSE:SQ), Fiserv, Inc (NYSE:FI)/Clover, Toast, Inc (NYSE:TOST), and Global Payments Inc (NYSE:GPN). Analyst Dan Dolev views this as a relief from regulatory pressure for Visa and Mastercard, and beneficial for merchant acquirers due to the surcharge on specific credit cards.

Portfolio Pulse from Anusuya Lahiri

March 27, 2024 | 6:49 pm

CEIX

Moody's Analytics has issued a warning about potential disruptions in the global coal trade due to the collapse of a bridge in Baltimore. This incident could have significant implications for coal exports, affecting companies involved in coal trading and transportation.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 6:36 pm

FBTC

Fidelity Investments has filed an S-1 form with the SEC for a spot Ethereum ETF, including staking capabilities. This follows the successful launch of spot Bitcoin ETFs in the U.S., notably the Fidelity Wise Origin Bitcoin Fund (FBTC), which contributed to a significant rise in Bitcoin's price. The proposed Ethereum ETF would trade on the CBOE and offer investors the ability to earn rewards through staking. This development is part of a broader trend of major investment firms, including BlackRock, VanEck, and ARK Invest, filing for cryptocurrency ETFs.

Portfolio Pulse from Murtuza Merchant

March 27, 2024 | 6:36 pm

CURLF

MRMD

VRNOF

The upcoming Benzinga Cannabis Capital Conference will feature discussions on scaling marijuana businesses to self-sustainability, with insights from industry experts Seth Yakatan, Bryan Gerber, and Jon Levine. Yakatan emphasizes operating within market constraints due to federal illegality and capital challenges. Gerber's Hara Supply, a major player in the cone industry, serves clients like Verano Holdings and Curaleaf, boasting significant market share and profitability. Levine, of MariMed, highlights the importance of consistency and passion in achieving success in the cannabis industry. The conference aims to provide strategies for growth amidst regulatory and financial hurdles.

Portfolio Pulse from Nina Zdinjak

March 27, 2024 | 6:30 pm

ZTS

The European Commission has launched an investigation into Zoetis Inc (NYSE: ZTS) for potentially breaching competition rules by hindering the market launch of a competing dog pain medication. Zoetis' Librela, a novel treatment for osteoarthritis in dogs, is at the center of this probe. The investigation focuses on Zoetis' acquisition and subsequent discontinuation of a competing product, raising concerns about antitrust violations in the European Economic Area.

Portfolio Pulse from Vandana Singh

March 27, 2024 | 6:26 pm

MDT

The FDA approved Medtronic's Evolut FX+ TAVR system for severe aortic stenosis, maintaining legacy benefits and facilitating coronary access. Medtronic plans an early commercial experience in spring 2024, with a full launch in summer 2024. Additionally, Medtronic exited its ventilator line, focusing on Acute Care and Monitoring for profitable growth. In December, the FDA approved Medtronic's PulseSelect for atrial fibrillation treatment. MDT shares rose 2.95% to $86.17.

Portfolio Pulse from Vandana Singh

March 27, 2024 | 6:14 pm

ENPH

FSLR

SEDG

SPWR

Solar stocks are up after a report that two solar companies are developing American-made panels, potentially making US solar projects eligible for federal subsidies.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 6:10 pm

AZN

CVS

SNY

WBA

On Wednesday, Japan approved AstraZeneca Plc (NASDAQ:AZN) and Sanofi SA's (NASDAQ:SNY) Beyfortus for RSV in neonates, infants, and children, expected to be available for the 2024/25 RSV season. Additionally, AstraZeneca's Truqap was approved in Japan for certain breast cancers. AstraZeneca is also suing Arkansas over a law extending federal drug discounts to for-profit pharmacy chains like CVS Health Corp (NYSE:CVS) and Walgreens Boots Alliance Inc (NASDAQ:WBA), arguing it infringes on federal law and constitutional rights.

Portfolio Pulse from Vandana Singh

March 27, 2024 | 5:42 pm