Streetbeat News

Regulatory

VWE

Vintage Wine Estates (VWE) has received a notification from Nasdaq due to a delay in filing its quarterly report. This notification is a procedural step by Nasdaq in response to the company's failure to meet the filing deadline for its financial report.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:53 pm

INCY

Incyte Corporation announced that the FDA has granted priority review for Axatilimab, a treatment for chronic graft-versus-host disease. This expedited review process could lead to a faster approval and market entry for Axatilimab, potentially benefiting patients with this condition.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 10:44 pm

AAPL

AMZN

GOOGL

LYV

UNH

The Justice Department has initiated an antitrust investigation into UnitedHealth Group Inc. (NYSE:UNH), focusing on its competitive practices within the healthcare sector. This investigation is part of a broader effort by the Biden administration to increase antitrust scrutiny across major sectors, including technology and healthcare. The probe specifically examines the relationship between UnitedHealthcare and Optum, amid concerns over UnitedHealth's acquisition strategies and their impact on competition and consumers. UnitedHealth Group's shares fell by 2.27% following the news.

Portfolio Pulse from Piero Cingari

February 27, 2024 | 9:28 pm

AMZN

FTEC

GOOG

MSFT

XLK

Google Cloud has criticized Microsoft's cloud computing strategies, suggesting Microsoft aims for a monopoly that could stifle innovation in technologies like generative AI. Amid regulatory scrutiny over Microsoft and Amazon's dominant cloud market positions, Google, ranking third, has joined Amazon in complaining to UK regulators about Microsoft's practices. Microsoft, however, asserts that cloud competition is healthy. Microsoft and Google have seen significant stock gains, while ETFs like FTEC and XLK have substantial exposure to Microsoft.

Portfolio Pulse from Anusuya Lahiri

February 27, 2024 | 9:06 pm

UNH

The U.S. government has initiated an antitrust investigation into UnitedHealth Group, a major player in the healthcare industry. This move signals increased scrutiny of the company's business practices and market dominance.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 8:53 pm

NFGC

SPOFF

EarthLabs (OTC:SPOFF), a Canadian mining investment and technology company, is preparing for a potential commodity market boom by adopting a multi-faceted business approach. This includes investments in mining, a media group comprising several platforms for outreach, and a robust royalty portfolio, including a notable royalty on New Found Gold Corp (NYSE:NFGC). CEO Denis Laviolette highlighted EarthLabs' unique strategy, comparing it to General Electric's broad product range and the versatility in mixed martial arts. Laviolette also discussed the challenges and opportunities in the African commodity market, emphasizing the competition from China and India, and the potential for the continent's mining sector. Additionally, he addressed the current state of the metals and minerals space, the difficulty for U.S. retail investors to access Canadian junior miners, and EarthLabs' efforts to simplify access to mining investments.

Portfolio Pulse from Melanie Schaffer

February 27, 2024 | 8:40 pm

SPY

Senate Republican Leader McConnell has expressed his support for a full Senate trial for Homeland Security Secretary Mayorkas, according to Reuters. This political development could have implications for market sentiment and the performance of broader market indices.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 7:26 pm

SPY

President Biden emphasized the necessity for Congress to act quickly to fund the government and avert a shutdown, according to a statement.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 6:55 pm

SPY

A recent Reuters/Ipsos poll indicates a decline in President Biden's approval rating to 37% from 38% in January. The poll also highlights Americans' concerns, with 21% viewing political extremism or threats to democracy as the top issue, followed by the economy (19%), and immigration (18%).

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 6:46 pm

ETH-USD

On Monday, 8,464.07 Ether (ETH) worth $27,323,891 was burned, permanently removing it from circulation. This action follows the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The Ethereum network is currently issuing Ether at a 4% annual rate, expected to decrease to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -9.38% yesterday.

Portfolio Pulse from Benzinga Insights

February 27, 2024 | 6:00 pm