Streetbeat News

Regulatory

GS

SEEL

WOLF

Goldman Sachs reported strong Q3 earnings, beating expectations with $12.70 billion in revenue and an EPS of $8.40. Wolfspeed shares surged 27% after announcing potential funding under the CHIPS Act. Seelos Therapeutics shares plummeted 52% following a delisting notice from Nasdaq.

Portfolio Pulse from Avi Kapoor

October 15, 2024 | 3:57 pm

CVS

UNH

CVS Health Corp shares are trading lower due to competitive pressures from UnitedHealth Group, which reported strong earnings and expanded its customer base. UnitedHealth's performance highlights challenges for CVS, especially in healthcare services and PBM segments. Regulatory risks and ongoing integration of acquisitions add to CVS's challenges.

Portfolio Pulse from Henry Khederian

October 15, 2024 | 3:33 pm

SPY

Fed's Daly emphasizes that the current monetary policy remains restrictive and is effectively working to lower inflation. However, continued progress on Fed goals is not guaranteed, and vigilance is necessary. The Fed aims to achieve 2% inflation while maintaining full employment. Risks to job and inflation mandates are now more balanced, and the September rate cut has appropriately adjusted monetary policy. A continued economic expansion is still possible.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 3:32 pm

ENVB

Enveric Biosciences (NASDAQ:ENVB) announced positive preclinical results for its lead drug candidate, EB-003, which targets serotonergic receptors without causing hallucinations. The drug shows potential for treating mental health conditions like depression and anxiety, with minimal cardiovascular and CNS risks. Enveric plans further testing and aims to start clinical development by the end of 2025.

Portfolio Pulse from Juan Spínelli

October 15, 2024 | 3:27 pm

OWPC

STLA

One World Products, led by Isiah Thomas, unveiled hemp-based packaging for the auto industry, marking a milestone in sustainable materials. The initial order from Flex-N-Gate highlights trust in these eco-friendly solutions, with potential future opportunities.

Portfolio Pulse from Jelena Martinovic

October 15, 2024 | 3:22 pm

COPX

CPER

FCX

TECK

JPMorgan analyst warns that potential Trump 2.0 trade policies could significantly impact copper stocks like Freeport-McMoRan and Teck Resources. Increased tariffs on Chinese imports could disrupt global copper demand, affecting related stocks and ETFs.

Portfolio Pulse from Surbhi Jain

October 15, 2024 | 3:16 pm

EXEL

MRK

Merck partners with Exelixis to test Zanzalintinib with Welireg in renal cancer, raising questions about its ongoing trials with Lenvima. The Litespark-011 trial completion is delayed to 2026. Merck and Exelixis will co-fund a Phase 1/2 trial, with Merck sponsoring two Phase 3 studies and supplying Keytruda for a head and neck cancer trial.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 3:09 pm

SPY

The New York Federal Reserve reported that consumer inflation expectations for the next year remained steady at 3.0% in September, unchanged from the previous month.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 3:05 pm

BTCUSD

Bitcoin may reach an all-time high before the U.S. presidential election due to factors like a steepening U.S. Treasury yield curve, growing interest in Bitcoin spot ETFs, and increasing odds of a Trump victory. Standard Chartered's Geoff Kendrick suggests these elements could drive Bitcoin's price to its previous peak of $73,800.

Portfolio Pulse from Ivan Crnogatić

October 15, 2024 | 3:02 pm

SEEL

Seelos Therapeutics shares fell after the company announced it received a delisting notification from Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

October 15, 2024 | 2:52 pm