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Regulatory

BDX

Becton, Dickinson, and Company (BDX) reported Q3 adjusted EPS of $2.96, beating the consensus of $2.89. Sales were $4.88 billion, up 5.1% Y/Y, slightly beating the consensus of $4.83 billion. The company's medical segment reported 11.1% growth, and its interventional business grew by 6.7%. However, life sciences revenue dropped by 6.3%. The FDA recently approved BD Alaris Infusion System. The company expects 2023 revenues of approximately $19.3 billion.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 1:45 pm

AMGN

CTLT

REGN

Regeneron Pharmaceuticals Inc's Q2 adjusted EPS rose 5% Y/Y to $10.24, beating the $9.92 Street estimate. Revenues increased 11% Y/Y to $3.16 billion, beating the consensus of $3.01 billion. However, Eylea U.S. net sales decreased by 7% to $1.5 billion due to increased competition. The FDA is reviewing Regeneron's aflibercept 8 mg Biologics License application and requires additional data from Catalent Inc. The U.S. Supreme Court ended a patent dispute related to Praluent, ruling that Amgen Inc's asserted U.S. PCSK9 patent claims were invalid.

Portfolio Pulse from Vandana Singh

August 04, 2023 | 1:41 pm

BAC

SPY

Bank of America CEO, Moynihan, stated that lending conditions have tightened following the Federal Reserve's interest rate hikes. However, he also noted that inflation is coming down.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:38 pm

JPM

MS

Massachusetts securities regulators have initiated an inquiry into the use of artificial intelligence by firms including JPMorgan Chase and Morgan Stanley. The nature and scope of the inquiry are not detailed in the news.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:37 pm

FRHC

Citron Research has raised concerns about Freedom Holdings (FRHC) over its delayed 10k filing and potential delisting. The head of the audit committee, Amber Williams, is under scrutiny for her lack of resignation despite the previous auditors being sanctioned and suspended from the PCAOB.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:35 pm

ELOX

Eloxx Pharmaceuticals has been granted an extension by Nasdaq to regain compliance with the market value of listed securities continued listing requirement.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:30 pm

SPY

Federal Reserve's Barkin stated that inflation remains too high and further economic slowing is almost surely on the horizon. Despite being weaker, consumer spending is far from weak. The Fed's efforts to address inflation have pushed several industries into mini-recessions.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 1:29 pm

AAPL

Apple Inc. has filed a patent for a technology that would allow Siri to read lips, reducing the need for an always-on microphone. The technology would use motion sensors, accelerometers, and gyroscopes to detect and understand user commands. This could make Siri more reliable, reduce power consumption, and improve user privacy.

Portfolio Pulse from Rounak Jain

August 04, 2023 | 1:29 pm

ABVC

ABVC BioPharma has announced that its plan for Good Manufacturing Practice (GMP) production facilities of Vitargus has been approved by the Taiwan Science Park Administration.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 1:29 pm

BABA

META

Alibaba's stock is trading higher following the announcement of its cloud computing unit launching two open-sourced AI models, Qwen-7B and Qwen-7B-Chat, to compete with Meta Platforms. This comes amid new smartphone usage restrictions for youths imposed by China's Cyberspace Administration.

Portfolio Pulse from Anusuya Lahiri

August 04, 2023 | 1:28 pm