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US stocks saw a mixed session with tech giants like Apple, Alphabet, and Meta facing regulatory scrutiny, while energy stocks surged due to rising crude prices. The Energy Select Sector SPDR Fund reached levels close to its all-time highs. Intel and AMD stocks were volatile after China's move to phase out U.S. microprocessors. Bitcoin reclaimed $70,000. Notable stock movements included gains for Bitcoin-related companies and Micron Technology, while United Airlines and Take-Two Interactive faced declines.

Portfolio Pulse from Piero Cingari

March 25, 2024 | 5:58 pm

JNJ

Biosense Webster, a Johnson & Johnson MedTech company, has submitted the VARIPULSE™ Platform for FDA approval for treating Paroxysmal Atrial Fibrillation. Supported by the admIRE study, the platform includes a catheter, generator, and software integrated with the CARTO™ 3 System for real-time cardiac mapping. The study showed 100% acute success and 80% freedom from atrial arrhythmia recurrence at 12 months, with no reported adverse events.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 5:49 pm

CVS

WBA

The U.S. Supreme Court is set to hear arguments challenging the safety of the abortion pill, mifepristone, which is used in over half of U.S. abortions. Opponents cite studies by Gynuity Health Projects to argue against its safety, despite its long-standing FDA approval. The Biden administration opposes easing FDA restrictions on mifepristone, emphasizing drug safety regulation. The case follows the Dobbs ruling, which affected federal abortion protections. CVS Health Corp and Walgreens Boots Alliance Inc plan to dispense mifepristone, aligning with FDA guidelines.

Portfolio Pulse from Vandana Singh

March 25, 2024 | 5:09 pm

LBAI

PFS

Provident Financial Services, Inc. (PFS) and Lakeland Bancorp, Inc. (LBAI) have received regulatory approvals from the FDIC and the New Jersey Department of Banking and Insurance for their merger. The only remaining approval needed is from the Federal Reserve. The merger, expected to complete in Q2, will see the combined entity operate under the Provident name, aiming for growth and enhanced service offerings. Provident must raise $200 million in Tier 2 subordinated debt and adhere to specific capital and lending ratios post-merger.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 5:01 pm

FLGC

Flora Growth Corp. (NASDAQ:FLGC) shares surged over 35% in the past five days, driven by optimism that the DEA may reschedule cannabis following comments from Vice President Kamala Harris and the German government's approval of cannabis legalization. Flora Growth, a multi-national cannabis company, operates in the US, Germany, Colombia, the UK, and Canada. Despite recent gains, a long-term forecast based on past performance suggests a potential decline in stock price.

Portfolio Pulse from Erica Kollmann

March 25, 2024 | 4:42 pm

CENX

Century Aluminum (CENX) shares surged following the announcement that it was chosen by the Department of Energy to receive a $500 million grant for constructing a new green aluminum smelter, aimed at accelerating industrial decarbonization.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:11 pm

DOW

Dow Chemical Company (NYSE:DOW) announced its plan to invest in a new world-scale carbonate solvents facility in the U.S. Gulf Coast to support the electric vehicle (EV) and energy storage markets. This facility, selected for award negotiations by the U.S. Department of Energy, aims to capture over 90% of CO2 from its manufacturing process, aligning with Dow's decarbonization strategy and the U.S. government's goals to reduce greenhouse gas emissions. The project is backed by agreements with leading EV manufacturers and electrolyte manufacturers, enhancing Dow's MobilityScience portfolio.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:08 pm

AAPL

AMD

GOOG

INTC

META

The EU is probing Apple, Meta, and Alphabet under the Digital Markets Act, with potential fines up to 10% of global revenues. China bans Intel and AMD microprocessors in government computers, significantly impacting their sales. Fed's Bostic expects only one rate cut this year, contrary to market expectations of three. Early trade shows neutral money flows in NVIDIA, negative in Amazon, Tesla, Microsoft, Google, Meta, and Apple, and positive in Invesco QQQ Trust.

Portfolio Pulse from The Arora Report

March 25, 2024 | 4:07 pm

JOAN

JOANN shares are trading lower after the Nasdaq determined that the company is no longer suitable for listing, leading to a suspension of its stock on March 28.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:07 pm

REGN

The FDA has delayed approval for Regeneron Pharmaceuticals Inc's odronextamab, a treatment for blood cancer, requesting additional trial data. Despite no issues with clinical efficacy or safety, the FDA seeks more information from ongoing Phase 3 trials. This delay is not expected to significantly impact Regeneron's overall performance, as the drug's market potential is limited. Regulatory review by the EMA is still in progress.

Portfolio Pulse from Vandana Singh

March 25, 2024 | 4:07 pm