Streetbeat News

Regulatory

BSX

Boston Scientific Corp (NYSE:BSX) reported Q2 revenues of $3.59 billion, surpassing Wall Street's estimate of $3.50 billion. The company's adjusted EPS was $0.53, beating the consensus of $0.49. However, Boston Scientific terminated its $230 million plan to acquire a majority stake in M.I. Tech due to regulatory hurdles. The company revised its FY23 revenue growth guidance to 10.5%-11.5% and forecasts an adjusted EPS of $1.96-$2.00.

Portfolio Pulse from Vandana Singh

July 27, 2023 | 3:05 pm

TAK

Takeda Pharmaceutical Co Ltd's Q1 FY23 net profit rose 4.1% to ¥233.4 billion, driven by Growth & Launch Products. The company reported Q1 sales of ¥1,058.6 billion, up 8.9% at the actual exchange rate (AER), and +3.7% at the constant exchange rate (CER). Takeda's CFO, Costa Saroukos, anticipates headwinds affecting the business this fiscal year, largely due to generic competition. Takeda recently withdrew its FDA application for dengue vaccine approval due to data collection issues.

Portfolio Pulse from Vandana Singh

July 27, 2023 | 2:56 pm

ETRN

The Supreme Court has allowed work to resume on a gas pipeline backed by Senator Joe Manchin and operated by Equitrans Midstream Corp (ETRN). This decision could potentially boost the company's stock in the short term.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:40 pm

ETRN

SPY

UNG

The U.S. Supreme Court has removed an obstacle to the long-delayed Mountain Valley natural gas pipeline, potentially paving the way for its completion.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:39 pm

SPY

The White House has announced that the advance estimate of GDP for Q2 indicates that the U.S. economy is expanding at a strong and better-than-expected rate.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:36 pm

FXE

The European Central Bank (ECB) has increased its key interest rates by 25 basis points, marking the ninth consecutive rate hike over the past year. The ECB deposit rate rose to 3.75%, the highest level since April 2001, and the interest rate on main refinancing operations rose to 4.25%, the highest since October 2008. The ECB also decided to cut the remuneration on minimum bank reserves to 0%. The euro fell in reaction to the ECB meeting, with the Invesco CurrencyShares Euro Currency Trust (NYSE:FXE) also dropping by 0.8%.

Portfolio Pulse from Piero Cingari

July 27, 2023 | 2:28 pm

FEMY

Femasys announced that the United States Patent and Trademark Office issued a Notice of Allowance for FemBloc, a permanent birth control solution. This news has led to an increase in Femasys' stock price.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 2:27 pm

APLS

IVR

Peter Kaiser, a retinal disease expert who runs the Cole Eye Institute at the Cleveland Clinic, failed to report his financial ties to Iveric Bio, a competitor of Apellis Pharmaceuticals. Kaiser's committee flagged a severe side effect of Apellis's newly approved drug, Syfovre, raising questions about a potential conflict of interest.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:24 pm

SPY

U.S. Senate Majority Leader Schumer has announced that progress is being made on spending bills. This could potentially impact the overall market and ETFs like SPY.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:23 pm

KBE

KRE

XLF

US regulators have proposed changes to capital requirements for banks with $100 billion or more in assets. The changes aim to address evolving international standards and recent regional banking crises. The new rules will revise regulations related to risky activities such as lending, trading, and valuing derivatives. The changes are expected to result in a 16% increase in common equity tier 1 capital requirements for affected banks.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 2:19 pm