Streetbeat News

Regulatory

TEVA

The Supreme Court appears unlikely to restrict access to mifepristone, a medication used in over 60% of U.S. abortions, challenging the lawsuit brought by antiabortion doctors against the government's regulation loosening. The justices, showing skepticism across ideological lines, focused on the legal standing of the challengers. The drug's safety, supported by multiple studies, was emphasized, alongside the 2016 and 2021 rule changes that facilitated its access.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 4:01 pm

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Visa Inc. (NYSE:V) and Mastercard Incorporated (NYSE:MA) have reached a significant antitrust settlement with U.S. merchants, potentially one of the largest in U.S. antitrust history. The settlement, pending approval, aims to resolve claims related to credit card processing fees, with Visa and Mastercard agreeing to caps and rollbacks on these fees, resulting in at least $29.79 billion in savings for merchants over five years. Banks like JP Morgan Chase & Co. (NYSE:JPM), Bank Of America Corporation (NYSE:BAC), and Citigroup, Inc. (NYSE:C), which benefit from the revenue generated by these fees, are indirectly involved. The settlement includes a rollback of swipe fees and a commitment not to raise fees above a certain level for five years.

Portfolio Pulse from Nabaparna Bhattacharya

March 26, 2024 | 3:48 pm

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President Biden has directed all federal resources to be available for response efforts regarding a key bridge, indicating a significant focus on infrastructure and emergency response.

Portfolio Pulse from Charles Gross

March 26, 2024 | 3:14 pm

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Greg McBride, CFA, predicts that interest rates, which rose quickly, will decrease gradually. He advises savers to seek high-return opportunities and borrowers to reduce high-cost debt. The real estate market is expected to remain a seller's market with high prices and limited inventory, positively impacting real estate ETFs. Mortgage ETFs may see mixed effects due to rising home prices. Legislative acts like the CHIPS and Infrastructure Acts suggest building a diversified portfolio, with large ETFs providing a stable investment strategy.

Portfolio Pulse from Surbhi Jain

March 26, 2024 | 3:01 pm

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China's Commerce Minister met with the CEO of FedEx in Beijing, signaling potential discussions on trade and logistics between China and the multinational courier delivery services company.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:57 pm

SPY

The Texas Services Sector Outlook for March has worsened to -5.5 from -3.9 in the previous month, indicating a decline in the sector's performance.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:30 pm

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Baltimore Mayor Brandon M. Scott has declared a local state of emergency due to the collapse of a key bridge, mobilizing resources to address the crisis and ensure community safety.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:17 pm

United States Steel Corporation (NYSE:X) has received authorization for its Consent Decree from the U.S. EPA and DOJ, addressing incidents at its Clairton Plant. The Decree includes $4.5 million for public health and air quality projects, $19.5 million in facility upgrades, litigation cost coverage, a $500,000 payment to the Allegheny County Clean Air Fund, and the permanent idling of Battery #15 without job reductions. This follows a $17.5 million investment in process improvements post the 2018 accident.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:14 pm

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In BlackRock Inc. (NYSE:BLK) CEO Larry Fink's annual letter, he highlights the urgent need to address the global retirement crisis, emphasizing the disparity between life expectancy and financial stability in retirement. Fink criticizes the U.S. retirement system's approach, suggesting reforms and learning from international models like the Netherlands. He also points out barriers to retirement investing in the U.S. and calls for efforts to restore hope and trust in future generations by investing in their long-term goals.

Portfolio Pulse from Piero Cingari

March 26, 2024 | 2:03 pm

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A recent report highlights the potential for Canadian cannabis companies' valuations to soar by up to 300% with proposed excise tax reforms. The Canadian government is considering revising the 2018 excise tax framework, which currently imposes a 30-40% tax rate on companies' domestic gross revenues, significantly higher than the intended 10%. Analyst Pablo Zuanic's report suggests that reducing the tax rate to 10% could alleviate financial strains on companies like Ayurcann, Decibel, and Village Farms, potentially doubling or even tripling their valuations. The report will be further discussed at the Benzinga Cannabis Capital Conference.

Portfolio Pulse from Nicolás Jose Rodriguez

March 26, 2024 | 1:36 pm