Streetbeat News

Regulatory

ACI

The U.S. Federal Trade Commission (FTC) is set to announce a lawsuit on Monday aimed at preventing the merger between Kroger and Albertsons. This legal action indicates significant regulatory hurdles for the merger, potentially affecting the future operations and stock performance of both companies.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 4:26 pm

CCJ

DNN

LEU

UEC

USO

UUUU

The International Atomic Energy Agency (IAEA) has released two quarterly reports to member states, revealing that Iran's stock of enriched uranium has increased to 5,525.5 kg. However, the stock of uranium enriched to up to 60% purity in Uranium Hexafluoride (UG6) form has decreased to 121.5 kg. The IAEA notes that approximately 42 kg of uranium enriched to 60% could theoretically be enough to produce a nuclear bomb.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 4:20 pm

MRK

OGN

New York Attorney General Letitia James has requested the FDA to investigate the safety of the asthma and allergy medication Singulair (montelukast), particularly its neuropsychiatric side effects in children. Despite a 'black box' warning added in 2020, there are concerns about the adequacy of current warnings, especially for pediatric patients. Merck & Co Inc (MRK), the original manufacturer, and Organon Inc (OGN), which now markets Singulair, are highlighted due to the drug's significant revenue and the lawsuits alleging they downplayed psychiatric risks.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 3:56 pm

NVS

RHHBY

Roche Holdings AG and Novartis AG announced positive results from the Phase 3 OUtMATCH study of Xolair for treating multiple food allergies, showing increased tolerance to common allergens. The FDA approved Xolair's expanded use based on this data. NVS shares slightly declined.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 3:52 pm

NVDA

Nvidia (NASDAQ:NVDA) reported strong results, overshadowing hawkish Fed speeches and FOMC meeting minutes, leading to a rise in Treasury yields. The article discusses the impact of delayed Fed rate cuts, increased Treasury issuance, and the implications for various sectors, including technology, financials, and real estate. It highlights the importance of the Fed's policy on the broader market and specific sectors, with a focus on the potential underperformance of financials and rate-sensitive sectors.

Portfolio Pulse from Barry Knapp

February 26, 2024 | 3:50 pm

EWD

SPY

VGK

The Hungarian Parliament has officially approved Sweden's accession to NATO, marking a significant step in Sweden's journey to join the North Atlantic Treaty Organization. This development could have implications for defense-related stocks and ETFs, particularly those with exposure to European markets or the defense sector.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 3:47 pm

PDD

PDD Holdings' stock (NASDAQ:PDD) fell nearly 3% pre-market on Feb. 26 due to fears of a potential US import ban on its subsidiary Temu, amid allegations of forced labor connections in Xinjiang, China. Despite a 73% gain in 2023, PDD stock is down 12.7% this year. US lawmakers are considering adding Temu to the Uyghur Forced Labor Prevention Act violators list, which could significantly impact PDD's investment value and Temu's US market presence.

Portfolio Pulse from Surbhi Jain

February 26, 2024 | 3:31 pm

MIST

Milestone Pharmaceuticals Inc (NASDAQ:MIST) stock rose 19.4% to $2.03 after announcing plans to resubmit the NDA for etripamil to the FDA for PSVT treatment. The FDA did not request additional clinical trials, and the company expects to fund operations until mid-2025 with existing cash reserves. A $75 million payment is anticipated under a royalty agreement if etripamil is approved.

Portfolio Pulse from Henry Khederian

February 26, 2024 | 2:50 pm

AMZN

EWW

Amazon Web Services (AWS) plans to invest over $5 billion in a new cluster of data centers in Queretaro, Mexico, over the next 15 years. This move is part of a growing demand for cloud services and comes amid the nearshoring trend. AWS aims to serve clients like Cinepolis, BIVA, Aeromexico, and local governments, potentially reducing their technology costs by around 20%. Amazon has already invested over $3.04 billion in Mexico since 2015.

Portfolio Pulse from Benzinga Newsdesk

February 26, 2024 | 2:49 pm

GSK

GSK plc (NYSE:GSK) announced positive results from the EAGLE-1 phase 3 trial of gepotidacin, an oral antibiotic for gonorrhea, showing non-inferiority to the standard intramuscular treatment. The trial's success, based on microbiological response, positions gepotidacin as a potential novel oral treatment option amid rising antibiotic resistance and for patients with allergies or intolerance to current treatments. Gepotidacin is also being developed for urinary tract infections, with phase 3 data presented recently. The development has been supported by federal funds from various U.S. agencies.

Portfolio Pulse from Vandana Singh

February 26, 2024 | 2:40 pm