Streetbeat News

Regulatory

GRFS

The Spanish Stock Market Supervisor CNMV concluded its investigations into Grifols, finding no significant errors in the main financial statements or evidence that the reported financial debt does not correspond to reality.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 6:57 pm

MDT

The U.S. Patent Office has upheld the validity of five Medtronic patents in a lawsuit against Axonics over sacral neuromodulation technologies. Medtronic plans to resume its patent infringement lawsuit in California and has also filed a complaint with the U.S. International Trade Commission to block Axonics from importing products that infringe on Medtronic's patents.

Portfolio Pulse from Happy Mohamed

March 21, 2024 | 6:54 pm

AAPL

SPY

Apple Inc's stock has declined by 7% this year, underperforming the S&P 500. The decline is attributed to reduced demand from China, challenges in the AI sector, and regulatory hurdles. Berkshire Hathaway sold about 10 million Apple shares, hinting at potential future sales. Despite this, Apple's stock has potential for growth if it can surpass the $200 mark, with its recent close at $178.67 showing a 1.46% increase.

Portfolio Pulse from Zaheer Anwari

March 21, 2024 | 6:07 pm

AAPL

GLD

Micron Technology Inc. (MU) reported strong earnings with high bandwidth memory for AI applications sold out for 2024, projecting significant revenue. Apple Inc. (AAPL) faces potential legal challenges from the U.S. government over antitrust laws. Gold prices have surpassed $2200 for the first time, reflecting investor concerns over inflation and the Fed's dovish stance. Positive early trade money flows were observed in Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), Microsoft (MSFT), NVIDIA (NVDA), Tesla (TSLA), SPDR S&P 500 ETF Trust (SPY), and Invesco QQQ Trust (QQQ), while AAPL experienced negative flows. The Swiss National Bank and the Bank of England made notable interest rate decisions.

Portfolio Pulse from The Arora Report

March 21, 2024 | 6:02 pm

ILMN

QCOM

An adviser to Europe's top court criticized EU antitrust regulators for overstepping their powers by blocking Illumina Inc's $7.1 billion bid for Grail Inc. The opinion could affect the EU's approach to mergers, including Qualcomm Inc's deals. Illumina completed the Grail transaction before approval, leading to a legal challenge. The adviser emphasized that the EU Commission should not have broad powers to review global mergers without significant EU presence. Illumina welcomed the recommendation, and a court ruling is expected soon. Illumina's stock rose 3.60% following the news.

Portfolio Pulse from Vandana Singh

March 21, 2024 | 5:56 pm

BDX

Becton Dickinson And Co (NYSE:BDX) has increased its U.S. production of medical syringes in response to the FDA's recommendation to avoid using certain China-made syringes due to quality concerns. The FDA's ongoing probe into plastic syringes manufactured in China has identified potential device failures. Becton Dickinson has ramped up manufacturing in Nebraska and Connecticut facilities to meet the additional demand. The FDA has specifically cited three Chinese companies for regulatory violations and advised transitioning away from their products. BDX shares rose 1.18% to $240.68.

Portfolio Pulse from Vandana Singh

March 21, 2024 | 5:47 pm

LLY

NVO

Medicare may cover Novo Nordisk's Wegovy for members with heart disease history. FDA approved Wegovy for obesity and cardiovascular disease management. Novo Nordisk's trials showed significant benefits in heart and kidney health. CMS may allow Part D plans to cover anti-obesity drugs under certain conditions. Germany's health ministry addressed Ozempic export concerns amid shortages. NVO shares rose 0.51%.

Portfolio Pulse from Vandana Singh

March 21, 2024 | 5:23 pm

AAPL

AMZN

GOOG

GOOGL

META

Apple Inc (AAPL) faces a DOJ antitrust lawsuit challenging its core business model, particularly its control over iPhone hardware and software access. Wedbush analyst Daniel Ives predicts a long legal battle but no immediate changes to Apple's business model. He notes this lawsuit is part of a broader antitrust effort under the Biden Administration targeting big tech companies including Alphabet (GOOG/GOOGL), Meta (META), and Amazon (AMZN). Apple's stock dropped 3.74% following the announcement.

Portfolio Pulse from Chris Katje

March 21, 2024 | 4:58 pm

LZM

Lifezone Metals has received a license from the Tanzanian government for a multi-metal processing facility at Kahama for the Kabanga Nickel Project. This development marks a significant step forward for the project, potentially impacting the project's timeline and Lifezone Metals' operations in the region.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 4:53 pm

NVO

The European Medicines Agency's Committee for Medicinal Products for Human Use recommended marketing authorization for Novo Nordisk's Awiqli, a once-weekly basal insulin icodec, for diabetes in adults. This recommendation is a significant step towards the commercialization of Awiqli in Europe, potentially improving diabetes management for patients.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 4:50 pm