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Regulatory

AXNX

MDT

Axonics, Inc. (NASDAQ:AXNX) has been notified of a complaint filed by Medtronic (NYSE:MDT) with the U.S. International Trade Commission (ITC) and a parallel action in U.S. District Court, alleging infringement of two Medtronic patents related to MRI compatibility in implantable medical devices. Axonics CEO Raymond W. Cohen asserts the claims aim to stifle competition and protect Medtronic's market position, emphasizing Axonics' commitment to innovation and market leadership in sacral neuromodulation therapy.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:20 pm

VYX

NCR Voyix announced a delay in its 10-K filing due to the discovery of fraudulent ACH disbursements from a company bank account and additional processes required after a spin-off. The company is in the process of completing its financial statements and other disclosures and will file for an extension.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:14 pm

RCEL

AVITA Medical has officially submitted its response to the FDA, which resumes the review process for the RECELL GO PMA Supplement. This step is crucial for the company as it moves closer to potentially getting approval for RECELL GO, a product that could significantly impact its market presence and financial performance.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:02 pm

HLTH

Cue Health has been granted European Patent Number EP3191849, titled 'Systems and Methods for Detection and Quantification of Analytes'. This patent strengthens Cue Health's intellectual property portfolio in Europe, potentially enhancing its competitive position in the healthcare diagnostics market.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:59 pm

SPY

In a Yahoo Finance interview, Fed's Mester discussed the economic outlook, emphasizing the need for a slowdown in employment growth to ease policy. Mester stated that for inflation to return to a sustainable 2% path, more confidence is needed. She believes that three rate cuts this year are appropriate, expressing optimism about the current state of U.S. policy and the economy.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:59 pm

SPY

In a Yahoo Finance interview, Fed's Mester commented that the January PCE data was not too surprising and does not alter the view that inflation is on a downward trend. Mester emphasized that there is still more work to be done on inflation and highlighted the importance of risk management until the 2% inflation goal is achieved.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:57 pm

KO

PEP

PRMW

A new study suggests boiling drinking water can significantly reduce microplastics, impacting companies like Coca-Cola and PepsiCo, known for their bottled water brands. The presence of microplastics in various environments, including drinking water, has raised health concerns. The study, conducted by researchers from Guangzhou Medical University and Jinan University, found that boiling water can remove up to 90% of microplastics, depending on the water's mineral content. This discovery could influence consumer behavior towards bottled water and tap water treatment methods.

Portfolio Pulse from Natan Ponieman

February 29, 2024 | 8:41 pm

XEL

Xcel Energy (XEL) was notified of Texas wildfires affecting their Southwestern Public Service Company territory on February 26, 2024. The Smokehouse Creek Fire, the largest among them, has grown to approximately 900,000 acres with only 3% containment. Xcel Energy faces potential liability for damages as investigations into the fire's origin, cause, and damage are ongoing. A law firm has already contacted Xcel Energy on behalf of property insurance interests for potential exposure to damages.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:09 pm

LVTX

LAVA Therapeutics N.V. has filed a U.S. patent application for 'Single Domain Antibodies Targeting CD1D', indicating progress in their research and development efforts. This move could potentially enhance their intellectual property portfolio and strengthen their position in the biotechnology and pharmaceutical industry.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 7:24 pm

SPY

Fed's Mester supports mandatory testing of the Discount Window by banks, debates on requiring banks to pre-position Discount Window collateral, and suggests possible FHIB lending changes could increase the need for the Discount Window. The speech did not comment on the economy or monetary policy.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 6:17 pm