Streetbeat News

Regulatory

BABA

Alibaba shares are experiencing volatility due to unsatisfactory stimulus measures announced by China's NDRC. Investors had expected more robust actions to boost the economy, leading to market fluctuations. Alibaba's stock is trading higher despite these concerns.

Portfolio Pulse from Dylan Berman

October 11, 2024 | 3:45 pm

LLY

NVO

The demand for weight loss drugs like Novo Nordisk's Ozempic and Eli Lilly's Mounjaro has led to a rise in counterfeit and diverted drugs, posing health risks. Authorities are actively intercepting these illegal drugs, while pharmaceutical companies work to combat the issue.

Portfolio Pulse from Vandana Singh

October 11, 2024 | 3:36 pm

SPY

Federal Reserve's Logan suggests that a less-restrictive monetary policy can still help in cooling inflation. Recent positive inflation data is welcomed, indicating potential stability in economic conditions.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 3:20 pm

FXI

SPY

The U.S. Treasury's Shambaugh expressed optimism about China's domestic stimulus plans but noted China's insufficient domestic demand. He emphasized the importance of the IMF focusing on China's external imbalances and industrial policies. Shambaugh also stated that U.S. decoupling from China would be impractical and detrimental to the global economy.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 3:03 pm

AAPL

FXI

Four staff members of Foxconn, a major iPhone manufacturer, have been detained in China under unusual circumstances. This development could impact Apple, as Foxconn is a key supplier. The situation may also affect the broader Chinese market, represented by the FXI ETF.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 3:00 pm

BA

SPY

The U.S. Department of Transportation's Office of Inspector General has reported that the FAA's oversight processes for identifying and resolving Boeing's production issues are ineffective. This raises concerns about Boeing's production quality and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 2:59 pm

WFC

Wells Fargo CEO Charlie Scharf stated that the U.S. economy remains strong. He also addressed concerns about anti-money laundering enforcement actions, emphasizing that the bank takes such issues 'extremely seriously.'

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 2:42 pm

EWJ

LLY

Eli Lilly's obesity drug is expected to receive approval in Japan next year, according to the company's CEO. This development could expand Eli Lilly's market presence and revenue potential in the obesity treatment sector.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 2:30 pm

DUO

Fangdd Network Group shares rose as the company regained compliance with Nasdaq's minimum bid price requirement.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 2:01 pm

MOG/A

MOG/B

The SEC has charged Moog Inc., a U.S.-based company, with violations of the Foreign Corrupt Practices Act (FCPA) due to its subsidiary's involvement in a bribery scheme in India. This legal action highlights regulatory challenges and potential financial penalties for Moog Inc.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2024 | 1:31 pm