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SPY

House Speaker McCarthy announced that the U.S. House will vote on a stopgap bill to fund the government for another 45 days, according to Reuters.

Portfolio Pulse from Charles Gross

September 30, 2023 | 3:05 pm

CI

The Cigna Group (NYSE:CI) has settled pending legal issues related to past Medicare Advantage risk adjustment practices. The company will pay approximately $172 million under agreements with the federal government, resolving a False Claims Act lawsuit and an investigation related to past risk adjustment submissions. This allows the company to move beyond industry-wide legal disputes and focus on delivering value to customers and taxpayers.

Portfolio Pulse from Charles Gross

September 30, 2023 | 1:14 pm

CI

The Cigna Group (NYSE:CI) has settled legal issues related to past Medicare Advantage risk adjustment practices. The company will pay approximately $172 million under agreements with the federal government. This resolves a False Claims Act lawsuit and an investigation related to past risk adjustment submissions from certain types of patient records.

Portfolio Pulse from Charles Gross

September 30, 2023 | 1:07 pm

TSLA

Tesla CEO Elon Musk has commented on the backlash he receives from the United Auto Workers (UAW) union and U.S. President Joe Biden. Musk's supporters have accused the Biden administration of not supporting his ventures. Musk has criticized Biden for supporting the UAW protest and not addressing immigration issues. UAW President Shawn Fain has criticized Musk for his stance against unionization.

Portfolio Pulse from Anan Ashraf

September 30, 2023 | 3:51 am

HOOD

Robinhood has stated that a certain expense was not included in its latest 2023 GAAP total operating expenses outlook of $2.33B-$2.41B, which was disclosed on August 2, 2023. The company has not provided an updated expense outlook but expects to do so when it reports results for Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 9:01 pm

HOOD

Robinhood Markets, Inc. is working to resolve certain historical legal and regulatory matters, as disclosed in its Form 10-Q filed on August 3, 2023. The company expects to accrue an expense of approximately $100M in Q3 2023.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 9:01 pm

BLIN

Bridgeline Digital received a letter from Nasdaq on September 27 stating that the company no longer satisfies the requirement to maintain a minimum bid price.

Portfolio Pulse from Bill Haddad

September 29, 2023 | 8:17 pm

JPM

QQQ

SPY

TLT

XLE

XOM

September has been a tough month for the U.S. stock market, with both the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust closing 5% lower. Treasury yields have surged, causing the iShares 20+ Year Treasury Bond ETF to tumble 8.7%. The potential U.S. government shutdown is causing market anxiety, with Moody's warning of adverse credit consequences. The Senate Banking Committee has approved the SAFE Banking Act, granting legal cannabis businesses access to banks. JPMorgan CEO Jamie Dimon expressed concern about potential interest rate surge to 7%. The energy sector, tracked by the Energy Select Sector SPDR Fund, was the week's best performer, with Exxon Mobil Corp. shares reaching new all-time highs.

Portfolio Pulse from Piero Cingari

September 29, 2023 | 8:13 pm

BIIB

The FDA has approved Biogen's TOFIDENCE (BIIB800), a biosimilar referencing ACTEMRA. This makes TOFIDENCE the first tocilizumab biosimilar to gain FDA approval in the United States. The approval is based on a robust analytical, non-clinical, and clinical data package comparing TOFIDENCE to the reference product ACTEMRA.

Portfolio Pulse from Benzinga Newsdesk

September 29, 2023 | 8:08 pm

SPY

The stock market experienced turbulence as a last-minute bid to avoid a government shutdown failed. The SPDR S&P 500 ETF Trust (NYSE:SPY) declined by 0.2%, extending monthly drops to 5%, marking September as the most challenging month for the S&P 500 in 2023. The failure to pass legislation aimed at averting a government shutdown has led to uncertainty and chaos within the GOP, causing a delay in negotiations with President Joe Biden and the Democratic Senate.

Portfolio Pulse from Piero Cingari

September 29, 2023 | 8:03 pm