Streetbeat News

Regulatory

SPY

Federal Reserve's Harker has stated that the spillover impact of Fed rate hikes on the economy is a reason to hold steady. This suggests that there may not be any immediate changes to the interest rates.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:51 pm

SPY

Federal Reserve's Harker has reported that banks are seeing almost no activity from first-time home buyers due to the current interest rates.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:50 pm

BLK

DRPRF

GOOG

JPM

MSFT

NFLX

SAVA

TSM

UNH

WFC

The UK's Competition and Markets Authority has approved Microsoft's $69B acquisition of Activision Blizzard. Google is testing generative AI functionalities for its search tool. Cassava Sciences faces controversy over scientific misconduct allegations. Ford is struggling with UAW negotiations. EHang shares are trading higher after obtaining a certificate for its EH216-S UAV system. OpenAI is valued at $90B and is close to selling shares. TSMC is seeking permanent US approval for chip supplies. Netflix plans to launch 'Netflix House' experiences. The Kroger-Albertsons deal faces potential legal challenges. Boeing and Spirit AeroSystems are inspecting 737 Max aircraft defects. Wells Fargo, JPMorgan, Citigroup, BlackRock, and UnitedHealth reported Q3 earnings. Porsche records a 10% surge in deliveries for the first three quarters.

Portfolio Pulse from Vandana Singh

October 13, 2023 | 1:48 pm

ATVI

MSFT

NTDOY

SONY

UBSFY

Microsoft Corp. has completed its acquisition of Activision Blizzard Inc. for $69 billion, marking the largest deal in Microsoft's history. The deal was approved by U.S. and U.K. regulators after Microsoft agreed to transfer Activision's game streaming rights to Ubisoft Entertainment and ensure that cloud gaming providers can use non-Windows operating systems for Activision content. Activision Blizzard's popular game franchises will now be part of Microsoft's enterprise.

Portfolio Pulse from Piero Cingari

October 13, 2023 | 1:40 pm

SPY

Federal Reserve's Patrick Harker stated that there's always a chance of recession, but he does not anticipate a downturn in the near future. This statement could influence the performance of the SPY ETF, which tracks the S&P 500 and is often used as a barometer of the overall U.S. economy.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:38 pm

ASLN

ASLAN Pharmaceuticals presented new data from a Phase 2b study of Eblasakimab in Atopic Dermatitis at the 32nd European Academy of Dermatology and Venereology Congress. The data shows Eblasakimab's potential as the first biologic in moderate-to-severe atopic dermatitis with a competitive efficacy profile with once-monthly dosing. A post-hoc analysis of patients with severe disease showed a 74.5% reduction in EASI score with 600 mg Eblasakimab for 16 weeks.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:31 pm

EHang Holdings (NASDAQ:EH) shares are trading higher after the company obtained a type certificate for the EH216-S passenger-carrying UAV system issued by the Civil Aviation Administration of China. The certificate simplifies the company's ability to get similar certificates for commercial operation in the U.S., Europe, and Southeast Asia. The company plans to expand overseas next year.

Portfolio Pulse from Nabaparna Bhattacharya

October 13, 2023 | 1:18 pm

SPY

Philadelphia Federal Reserve President Patrick Harker has advocated for holding interest rates steady, stating that the central bank has made substantial progress in controlling inflation without causing a surge in unemployment. Harker, a voting member of the rate-setting Federal Open Market Committee, believes that the current restrictive policy rates will continue to press down on inflation and bring markets into balance. Despite recent inflation rates remaining above the Fed's 2% annual target, Harker emphasized the need for patience and caution with the data.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:15 pm

PFE

The U.S. FDA has approved Pfizer's VELSIPITY for adults with moderately to severely active ulcerative colitis. The approval is based on favorable safety and efficacy data from the ELEVATE UC Phase 3 trials.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 1:05 pm

NVVE

Nuvve Holding Corp. (NASDAQ:NVVE) has been granted a new European patent for its vehicle-to-grid (V2G) technology. The company's V2G patents include comprehensive solutions for the control of power flow to electric vehicles and the grid, management of EV charging, and calculation of available power capacity of aggregated EVs. Nuvve's V2G patent portfolio extends globally, with coverage across a wide array of European countries.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 12:46 pm