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EIS

SPY

Mahmoud Abbas, the President of the Palestinian Authority, has cancelled his planned meeting with US President Joe Biden. No specific reasons were given for the cancellation.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:59 pm

USB

US Bancorp shares are trading higher following the announcement that the Federal Reserve will not require the company to meet Category II requirements by Dec. 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:53 pm

VRTX

Health Canada has granted market authorization for TRIKAFTA, a drug for children aged 2 to 5 years with at least one F508del mutation in cystic fibrosis. The drug is produced by Vertex Pharmaceuticals (VRTX).

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:53 pm

USB

US Bancorp has announced that it is no longer required to submit quarterly implementation plans for complying with requirements associated with Category II Banking Organization. The Federal Reserve will not require the company to meet Category II requirements by Dec. 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:50 pm

VMW

VMware shares are trading lower due to speculation of uncertainty regarding Chinese approval for the company's proposed deal with Broadcom.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:46 pm

AVGO

VMW

Traders are closely watching VMWare shares following a report that China is reviewing a deal with Broadcom. The details of the deal are not specified in the article.

Portfolio Pulse from Benzinga Newsdesk

October 17, 2023 | 6:43 pm

JNJ

Johnson & Johnson (J&J) reported Q3 2023 financial results with total sales of $21.3 billion, a 6.8% increase compared to the same period in 2022. U.S. sales totaled $11.996 billion, an 11.1% increase from 2022. The company also reported a one-time, non-cash gain of around $21 billion related to the final separation of J&J’s consumer health business. The company received several treatment approvals from the FDA and the European Commission, and submitted applications to the European Medicines Agency.

Portfolio Pulse from Lara Goldstein

October 17, 2023 | 6:28 pm

EW

Edwards Lifesciences Corp (NYSE:EW) is under scrutiny by EU antitrust regulators for its patent practices and policies aimed at thwarting copycat devices. The focus is on the company's activities related to the transcatheter aortic valve replacement (TAVR) device and its global unilateral pro-innovation (anti-copycat) policy. The company's shares are down 1.02% at $70.55.

Portfolio Pulse from Vandana Singh

October 17, 2023 | 6:28 pm

KLAC

KLA Corp's stock is trading lower due to new U.S. regulations designed to prevent China, Iran, and Russia from using American AI technology for military purposes. These rules restrict chip exports and blacklist two Chinese chip makers, potentially reducing demand for KLA's products and disrupting global semiconductor supply chains.

Portfolio Pulse from Henry Khederian

October 17, 2023 | 6:23 pm

ETHUSD

On Monday, 2,385.36 Ether (ETH) worth $3,743,275 was burned from Ethereum transactions. This is a result of the Ethereum blockchain's EIP-1159 upgrade, which changes the fee model and burns a variable base fee from each transaction. This reduces the supply of Ether. Ethereum is currently issuing new Ether at a rate of 4% per year, but this is expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency.

Portfolio Pulse from Benzinga Insights

October 17, 2023 | 6:00 pm