Streetbeat News

Regulatory

SPY

USO

A recent headline from Benzinga stating that U.S. President Biden is considering depleting the Strategic Petroleum Reserve was incorrectly attributed to The Wall Street Journal and did not originate from President Biden.

Portfolio Pulse from Charles Gross

September 20, 2023 | 11:26 am

GLD

SPY

UUP

US stock markets closed lower on Tuesday, September 19, as the Federal Reserve began its two-day monetary policy meeting. Housing starts dropped 11.3% in August, while building permits increased 6.9%. The Dow Jones, S&P 500, and Nasdaq Composite all recorded declines. Asian markets also closed lower, with Japan's Nikkei 225, Australia's S&P/ASX 200, China's Shanghai Composite, and Hong Kong's Hang Seng Stock Exchange all recording losses. However, the European STOXX 600 index, Germany's DAX, France's CAC 40, and the U.K.'s FTSE 100 all traded higher. Crude Oil WTI and Brent were trading lower, while Natural Gas, Gold, Silver, and Copper all fell. Dow futures, S&P 500 futures, and Nasdaq 100 futures all rose.

Portfolio Pulse from Akanksha Bakshi

September 20, 2023 | 11:05 am

PINS

QQQ

SPY

Traders are cautiously optimistic about a potential pause in rate hikes by the Federal Reserve, which could trigger a relief rally. The S&P 500 and Nasdaq futures edged higher in anticipation. Stocks were pressured on Tuesday due to a surge in bond yields, elevated oil prices, and anxiety about the Fed decision. In premarket trading on Wednesday, the SPDR S&P 500 ETF Trust (NYSE:SPY) rose 0.18% and the Invesco QQQ ETF (NASDAQ:QQQ) gained 0.14%. Pinterest, Inc. (NYSE:PINS) climbed over 3% in premarket trading after JPMorgan raised the price target for the stock, while Dollar General Corp. (NYSE:DG) fell about 2% in reaction to a downgrade by JPMorgan.

Portfolio Pulse from Shanthi Rexaline

September 20, 2023 | 11:04 am

ICCM

IceCure Medical's De Novo classification request for breast cancer, based on interim analysis from its ICE3 study, has been denied by the FDA at this time.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:03 am

CLIR

SRE

SoCalGas and ClearSign Technologies Corporation have been awarded a grant by the U.S. Department of Energy to scale-up their ultra-low-NOx hydrogen-powered industrial burner prototype. This collaboration aims to reduce emissions and increase energy efficiency.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 11:00 am

NRXP

NRX Pharmaceuticals has published a shareholder update letter, indicating a potential marketing application submission to the FDA for NRX-100, which is expected in 2024.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 10:50 am

MRK

The FDA has granted priority review to Merck's application for Keytruda, in combination with concurrent chemoradiotherapy, for the treatment of newly diagnosed high-risk locally advanced cervical cancer. The Prescription Drug User Fee Act date is set for January 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 10:48 am

RYAAY

Italy's competition watchdog has launched an investigation into Ryanair Holdings plc's market practices in the country. The probe focuses on Ryanair's dominance in services for tourists, including car rental and hotel bookings. The authority suggests that Ryanair's controlling position could harm travel agencies and clients. This comes amidst a dispute between the Italian government and Ryanair over a price cap for domestic airline tickets to the country’s island destinations.

Portfolio Pulse from Shivani Kumaresan

September 20, 2023 | 10:47 am

AIU

CART

NKLA

RVNC

SPRY

Several stocks recorded losses in Wednesday's pre-market trading session. ARS Pharmaceuticals shares dipped 46.8% after the FDA requested additional study for its neffy® Epinephrine nasal spray. Revance Therapeutics shares declined 5.8% following the company's plan to exit the OPUL payments business. Instacart shares fell 4.4% despite pricing its IPO at the top end of the expected range. Meta Data Limited, Nikola Corporation, and Toyota Motor Corporation also experienced declines.

Portfolio Pulse from Lisa Levin

September 20, 2023 | 10:23 am

ABBV

The FDA has accepted Alvotech's resubmitted Biologics License Application (BLA) for AVT02, a high-concentration interchangeable biosimilar candidate to Humira. This could potentially impact the market share of Humira, which is produced by AbbVie Inc.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2023 | 8:33 am