Streetbeat News

Regulatory

TLRY

Shares of Tilray Inc (NASDAQ:TLRY) are trading higher by 2.4% to $3.05 due to the recent momentum in the cannabis sector. This is driven by U.S. efforts to reschedule marijuana to a lower-risk drug category. The Department of Health and Human Services (HHS) has proposed this reclassification, which is based on an FDA evaluation of marijuana's classification.

Portfolio Pulse from Henry Khederian

September 15, 2023 | 2:55 pm

GOOG

GOOGL

A U.S. judge has stated that she will not order a senior Justice Department official to stay out of the Google antitrust case, but suggested that the department should consider it.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 2:37 pm

SPY

US consumer sentiment fell from 69.5 in August to 67.7 in September, missing expectations of 69.1. Despite the decline, the gauge remains above the six-month moving average of 64.62. Expectations for inflation over the next year fell sharply from 3.5% to 3.1%. The SPDR S&P 500 ETF Trust (NYSE:SPY) fell 0.7% in response to the consumer sentiment data.

Portfolio Pulse from Piero Cingari

September 15, 2023 | 2:16 pm

AAPL

EWK

Belgium's IBPT regulator has conducted a preliminary review and concluded that there is no danger to users' health from Apple's iPhone 12. Therefore, a recall of the product in Belgium is not warranted.

Portfolio Pulse from Charles Gross

September 15, 2023 | 2:08 pm

ARM

BBBYQ

CRM

DIS

LMT

NOC

NVS

RTX

STLA

TMUS

YUMC

Instacart is considering revising its IPO target price upwards following Arm Holdings Plc's IPO debut. Goldman Sachs is offering affluent clients a chance to acquire a share of ownership in a private sports team. RTX Corp terminated a multi-billion-dollar agreement with Scopa Defense due to concerns about international sanctions. Byron Allen has made a $10 billion offer to acquire a significant chunk of Walt Disney Co's media empire. Salesforce Inc is hiring approximately 3,300 new employees. The United Auto Workers union has started a simultaneous strike against the Detroit three automakers. Novartis AG's shareholders approved the proposed 100% Spin-off of Sandoz. T-Mobile US Inc is exploring a significant foray into the fiber-optic network arena. China is set to impose sanctions against Lockheed Martin Corp and Northrop Grumman Corp. Former employees of Bed Bath & Beyond Inc filed a lawsuit against the committee responsible for overseeing its 401(k) retirement plan. Citigroup Inc is reportedly considering job cuts. Yum China Holdings Inc is investing heavily in technology.

Portfolio Pulse from Vandana Singh

September 15, 2023 | 1:55 pm

RTX

U.S. defense manufacturer, RTX Corp (NYSE:RTX), has terminated a multi-billion-dollar agreement with Saudi firm, Scopa Defense, due to concerns over Scopa's business transactions with companies from China, Russia, and Belarus that are subject to international sanctions. The deal involved a $25 billion investment to establish a factory in Saudi Arabia for producing air defense systems. The termination of the deal could impact RTX's future revenues and strategic plans.

Portfolio Pulse from Vandana Singh

September 15, 2023 | 1:20 pm

FXI

GOVX

SIGA

Chinese health officials are stepping up control measures in response to rising cases of MPOX. The South China Morning Post reports that this could potentially impact the stocks of companies such as FXI, GOVX, and SIGA.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 1:13 pm

MRK

Merck has received a positive opinion from the European Union's Committee for Medicinal Products for Human Use (CHMP) for its drug KEYTRUDA. The drug is intended as an adjuvant treatment for adults with non-small cell lung cancer at high risk of recurrence following complete resection and platinum-based chemotherapy. The opinion was granted based on positive disease-free survival results from the Phase 3 KEYNOTE-091 trial.

Portfolio Pulse from Benzinga Newsdesk

September 15, 2023 | 1:11 pm

Citigroup Inc is considering job cuts, particularly in compliance and risk management, and among technology staff with overlapping responsibilities. This follows the bank's announcement of a management restructure and workforce reduction. The bank is also addressing a 2020 consent order from regulators to rectify deficiencies in its internal controls. Citigroup shares are up 0.32% at $43.00 during the premarket session on the last check Friday.

Portfolio Pulse from Vandana Singh

September 15, 2023 | 1:11 pm

ACB

CNTMF

JAZZ

SMG

VFF

Several cannabis companies have announced changes in their leadership, including board appointments and executive promotions. These include ZYUS Life Sciences, Unrivaled Brands, CannaPharmaRx, Shiny Health & Wellness, Cansortium, Aurora Cannabis, CanadaBis Capital, Nova Farms, Heritage Cannabis Holdings, Jazz Pharmaceuticals, Kaival Brands Innovations, The Scotts Miracle-Gro Company, Pure Sunfarms, Nextleaf Solutions, Charlotte's Web Holdings, and High Times. The changes come as the U.S. Department of Health and Human Services recommends rescheduling cannabis from a Schedule I to a Schedule III substance.

Portfolio Pulse from Jelena Martinovic

September 15, 2023 | 1:02 pm