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ETH-USD

LUNA-USD

USTC-USD

KuCoin, a Seychelles-based crypto exchange, has been banned from operating in New York following a $22 million settlement with the state's Attorney General for illegal crypto transactions. The settlement requires KuCoin to refund over $16.7 million to New York investors and pay $5.3 million to the state. KuCoin is now prohibited from trading securities and commodities in New York and from allowing New Yorkers to access its platform. The company must also cooperate with U.S. law enforcement.

Portfolio Pulse from Murtuza Merchant

December 12, 2023 | 7:44 pm

LUNA

Do Kwon, co-founder of Terraform Labs, has had his detention in Montenegro extended by two months as the High Court in Podgorica responds to extradition requests from the U.S. and South Korea. Kwon faces charges related to the $60 billion collapse of TerraUSD and Luna. The final decision on his extradition is pending, with Montenegro's justice minister to choose the country. Kwon's legal team is appealing the High Court's ruling that he could be extradited.

Portfolio Pulse from Murtuza Merchant

December 12, 2023 | 7:41 pm

AAPL

PYPL

Apple Inc (AAPL) has offered to let competitors use its tap-and-go payment technology to address EU antitrust charges and avoid fines. The EU had charged Apple with restricting access to its NFC technology, affecting competitors' mobile wallet services. PayPal Holdings, Inc (PYPL) was key in bringing a formal complaint to the EU. The European Commission will seek feedback on Apple's proposal next month. Meanwhile, Apple is also involved in a legal battle over a potential €13 billion tax bill to Ireland.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 7:36 pm

SPY

VGK

U.S. President Biden has expressed to Ukraine's President Zelensky that Congress should not give Putin a 'Christmas gift', implying that the U.S. should maintain a strong stance against Russia. This statement suggests continued U.S. support for Ukraine and a commitment to opposing Russian actions.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 7:35 pm

PFE

SGEN

Seagen's stock price has risen following the announcement that Pfizer has received all necessary regulatory approvals to complete the acquisition of Seagen.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 7:31 pm

SPY

U.S. Senate Leader McConnell stated that passing a supplemental bill before Christmas is practically impossible without an agreement between Biden and Republicans. He emphasized that successful talks on the supplemental require 'full engagement' from President Biden.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 7:28 pm

MYMD

MyMD Pharmaceuticals has received a notice of allowance for its U.S. patent application 17/851,862, which covers a method of treating diseases of the visual system. This development could potentially enhance the company's intellectual property portfolio and provide a competitive edge in the market for treatments related to eye diseases.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 7:25 pm

ILMN

Illumina Inc (NASDAQ:ILMN) is in a legal dispute with the European Commission over its $7.1 billion acquisition of Grail Inc. The Commission is using Article 22 to scrutinize the deal, which allows it to review acquisitions of smaller rivals by larger companies, even if they don't meet the EU merger revenue threshold. Illumina's challenge to the EU's decision to block the deal was unsuccessful in a lower tribunal last year. The Court of Justice of the European Union (CJEU) will receive a non-binding opinion on March 21, with a ruling expected in about six months. Illumina has also submitted a draft registration statement for the potential divestiture of GRAIL to the SEC under an order from the European Commission. Illumina's stock (ILMN) saw a slight increase of 0.19% to $117.86.

Portfolio Pulse from Vandana Singh

December 12, 2023 | 7:12 pm

ABBV

EOLS

RVNC

SUPN

Public Citizen, a consumer advocacy group, has petitioned the FDA to enforce stronger warnings on botulinum toxin injections like AbbVie's Botox, Revance Therapeutics' Daxxify, Evolus' Jeuveau, and Supernus Pharmaceuticals' Myobloc. The group cites over 5,400 adverse event reports and calls for clear labeling of the risk of systemic iatrogenic botulism, which can cause muscle paralysis. The FDA is set to review the petition.

Portfolio Pulse from Vandana Singh

December 12, 2023 | 7:04 pm

CAVA

DIA

ENPH

FSLR

JCI

LCID

MRVI

ORCL

QQQ

SEDG

SPY

TAN

XLE

XLF

U.S. stocks are approaching all-time highs with the VIX at nearly 3-year lows ahead of the Fed meeting. Inflation data for November showed a slight decrease, aligning with estimates. The U.S. dollar index dipped slightly, while Treasury yields were stable. Gold and Bitcoin declined, and oil prices faced downward pressure. SPY, DIA, and QQQ ETFs saw modest gains, while XLF rose and XLE fell. Solar ETF TAN dropped significantly. LCID, ORCL, CAVA, MRVI, SEDG, ENPH, FSLR, and JCI stocks had notable movements due to various company-specific news.

Portfolio Pulse from Piero Cingari

December 12, 2023 | 6:56 pm