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Regulatory

CI

NVO

Novo Nordisk's Wegovy faces inconsistent insurance coverage despite FDA approval expansion and health benefits. Employers and health plans are hesitant due to the high cost and patient adherence concerns. Some insurers, like Evernorth Health Services (a Cigna Group subsidiary), are introducing cost control measures. North Carolina scaled back coverage due to financial strain, costing nearly $87 million last year. Novo Nordisk offers a savings program to help uninsured patients. Coverage for obesity medications is expected to expand among U.S. employers.

Portfolio Pulse from Vandana Singh

March 18, 2024 | 4:51 pm

GSK

GSK plc (NYSE:GSK) announced positive Phase 3 trial results for Jemperli in treating primary advanced or recurrent endometrial cancer, showing significant improvements in overall survival and progression-free survival. These results may support FDA approval for expanded use. Jemperli, in combination with other drugs, demonstrated a notable reduction in the risk of death and improvement in survival rates, indicating strong growth potential for GSK's oncology segment.

Portfolio Pulse from Vandana Singh

March 18, 2024 | 4:17 pm

AAPL

MSFT

NVDA

Nvidia's CEO Jensen Huang's upcoming speech at Nvidia's annual AI conference is highly anticipated, with high expectations for AI developments. Nvidia (NVDA) has seen significant stock volatility and interest, becoming a popular choice for call option buyers. Apple (AAPL) is attempting to catch up in AI by licensing Google's Gemini. Early trading shows positive money flows in AAPL, AMZN, GOOG, META, NVDA, TSLA, SPY, QQQ, and negative in MSFT. The article also notes buying trends in gold (GLD), silver (SLV), oil (USO), and mentions Bitcoin's (BTC) current status.

Portfolio Pulse from The Arora Report

March 18, 2024 | 3:50 pm

SPY

U.S. Supreme Court justices displayed skepticism towards a challenge against the Biden administration's interactions with social media companies regarding content moderation. This case highlights the ongoing debate over the extent of government involvement in social media content regulation.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 3:43 pm

TLT

Ahead of the FOMC meeting, Wall Street analysts from Goldman Sachs and Bank of America anticipate three rate cuts in 2024, adjusting earlier forecasts due to recent inflation data. Goldman Sachs expects cuts in June, September, and December, citing slightly higher inflation paths. Bank of America predicts a revision towards stronger growth and firmer inflation but sees rate cuts as a close call. Treasury yields are rising, impacting fixed-income assets like the iShares 20+ Year Treasury Bond ETF (TLT), which has fallen nearly 4% from its March peak.

Portfolio Pulse from Piero Cingari

March 18, 2024 | 3:35 pm

RILY

B. Riley Financial shares are trading lower due to delays in filing its Annual Report, as the company is working with auditors to complete the process.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 3:22 pm

SHPH

Shuttle Pharmaceuticals (SHPH) has been granted a European patent (EP3737376) for 'Selective Histone Deacetylase Inhibitors for the Treatment of Human Diseases', covering a range of conditions including cancers, neurological, and immunological disorders. This patent strengthens SHPH's intellectual property portfolio and potentially enhances its position in developing treatments for these diseases.

Portfolio Pulse from Benzinga Newsdesk

March 18, 2024 | 3:02 pm

CGC

TLRY

Shares of Tilray Brands, Inc. (NASDAQ:TLRY) and Canopy Growth Corporation (NASDAQ:CGC) are trading higher due to optimism about the potential rescheduling of cannabis by the DEA, following comments from Vice President Kamala Harris and a social media post by Doug Kass. Harris emphasized the need for quick action, while Kass mentioned an imminent announcement on rescheduling cannabis to Schedule III.

Portfolio Pulse from Erica Kollmann

March 18, 2024 | 2:56 pm

SCHW

Charles Schwab Corporation (NYSE:SCHW) has published a blog post explaining the impact of the SEC's rule change to shorten the settlement period for most U.S. securities to T+1, effective May 28. The post highlights the benefits and considerations for investors, including potential tax implications and the ability to buy stocks closer to dividend dates.

Portfolio Pulse from Aaron Bry

March 18, 2024 | 2:38 pm

BMY

JNJ

LEGN

TSVT

The FDA's ODAC has recommended expanded use of Bristol Myers Squibb & Co and 2seventy bio Inc's Abecma for blood cancer, and Johnson & Johnson/Legend Biotech Corporation's Carvykti, also for blood cancer. Both recommendations are based on positive Phase 3 study results. The FDA is reviewing supplemental Biologics License Applications for both therapies, with decisions pending. Abecma has already received approval in Japan and Switzerland, and a positive opinion in Europe. Competition among CAR-T therapies, including from bispecifics, is noted.

Portfolio Pulse from Vandana Singh

March 18, 2024 | 2:16 pm