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Regulatory

ALC

QQQ

SPY

TSLA

U.S. stocks are poised to continue their gains as traders await new economic data, including producer price inflation, retail sales, and regional manufacturing activity. Positive sentiment is bolstered by the House's approval of a temporary spending bill. Despite potential profit-taking, the outlook remains optimistic with broad-based buying interest and strong performance from the Nasdaq Composite, S&P 500, Dow Industrials, and Russell 2000. Analysts suggest the trend is positive, with potential for a year-end rally. Premarket trading saw SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) rise. Alcon Inc. (ALC) fell post-earnings, while Tesla (TSLA) gained on Cybertruck event news. Other companies set to report earnings include AAP, CTLT, JD, TGT, TJX, CSCO, JJSF, KLIC, and SONO.

Portfolio Pulse from Shanthi Rexaline

November 15, 2023 | 12:09 pm

CMMB

Chemomab Therapeutics has been granted FDA Fast Track Designation for its drug CM-101, aimed at treating Primary Sclerosing Cholangitis (PSC). This designation could expedite the development and review process for CM-101, potentially bringing it to market more quickly if it proves to be safe and effective.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:04 pm

SLDB

Shares of Solid Biosciences are trading higher following the FDA's clearance of the company's Investigational New Drug (IND) application for its gene therapy candidate for Duchenne muscular dystrophy.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 12:01 pm

AMZN

CAH

CVS

RADCQ

TGT

The FDA has issued a warning to Amazon (NASDAQ:AMZN) for selling unapproved eye drops that pose a public health risk. The seven products in question are not recognized as safe and effective by the FDA, which could lead to legal action against Amazon. The FDA has also advised Amazon to stop distributing these products. This follows a recent FDA warning about over-the-counter eye drops from brands like CVS Health (NYSE:CVS), Cardinal Health (NYSE:CAH), Rite Aid (OTC:RADCQ), and Target's (NYSE:TGT) Up&Up and Velocity Pharma, with a recall recommended on October 25.

Portfolio Pulse from Nabaparna Bhattacharya

November 15, 2023 | 11:19 am

AMZN

Amazon Inc. (NASDAQ:AMZN) has linked promotion eligibility to compliance with its return-to-office (RTO) policy, requiring employees to be in the office at least three days a week. Non-compliance will necessitate vice presidential approval for promotions, indicating a stricter enforcement of the RTO mandate. This move is part of Amazon's ongoing efforts to manage its workforce's return to the office, which has been met with some employee resistance since its introduction in February.

Portfolio Pulse from Benzinga Neuro

November 15, 2023 | 10:11 am

COIN

Coinbase Inc. (NASDAQ:COIN) has indicated that the approval of spot Bitcoin ETFs in the U.S. could attract a new class of investors, including institutional and retirement funds. The Coinbase report suggests that such approval would simplify the investment process for large institutions, enhance market liquidity, and improve price discovery. David Duong of Coinbase sees this as an opportunity for new product development and wider crypto adoption. The report also mentions that billions could be added to the crypto market cap, and with current economic conditions, Bitcoin could become a more viable alternative. The SEC is nearing a decision on approving the first U.S. spot Bitcoin ETF, with firms like BlackRock, WisdomTree, and Valkyrie in the queue, potentially by 2024. Bitcoin's price has surged in anticipation, reaching $37,970 last week.

Portfolio Pulse from Benzinga Neuro

November 15, 2023 | 9:15 am

Jacobs Engineering Group Inc. has received a grant from the UK government to develop new water tidal turbine technology. This grant is aimed at supporting the advancement of renewable energy sources and reducing carbon emissions. The financial details of the grant were not disclosed, but the support from the government highlights the potential of Jacobs' technology and its alignment with environmental sustainability goals.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 9:07 am

AAPL

CRM

MSFT

TSLA

U.S. tech leaders, including Elon Musk (Tesla), Satya Nadella (Microsoft), and Jane Fraser (Citigroup), are set to meet with Chinese President Xi Jinping at the APEC summit in San Francisco. This marks President Xi's first U.S. visit in six years and aims to address strategic issues and improve China-U.S. relations despite tensions. The meeting could impact businesses like Apple, which rely on China for manufacturing and consumers.

Portfolio Pulse from Benzinga Neuro

November 15, 2023 | 9:05 am

AMZN

GOOGL

MSFT

Amazon Web Services (AWS), Google, and Microsoft are set to invest a combined total of $8.5 billion in Thailand's digital infrastructure. Each company will contribute approximately 100 billion baht ($8.46 billion) to enhance the nation's digital economy. This follows Thailand's efforts to attract foreign investment, including the approval of 41 billion baht in various sectors by the Thailand Board of Investment in October 2023.

Portfolio Pulse from Benzinga Neuro

November 15, 2023 | 8:56 am

GOOG

GOOGL

YouTube, owned by Alphabet Inc., will start labeling videos that have been created with artificial intelligence. The labels will apply to both full-length videos and shorts, and will be particularly emphasized for sensitive topics. Creators who do not comply with the labeling requirement may face content removal or suspension from the YouTube Partner Program. The initiative aims to increase transparency and safety on the platform amidst concerns about deepfakes and misinformation.

Portfolio Pulse from Benzinga Neuro

November 15, 2023 | 8:13 am