Streetbeat News

Regulatory

FXI

SPY

U.S. Treasury Undersecretary Shambaugh stated that lending to China from multilateral development banks is declining, but not at a fast enough pace. He emphasized that it needs to go to zero rapidly.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 3:10 pm

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SNY

The UK's Medicines and Healthcare Products Regulatory Agency (MHRA) is scrutinizing diabetes and weight loss drugs sold by Novo Nordisk, including Ozempic and Wegovy, following reports of suicidal behavior. The agency is also reviewing type 2 diabetes medications from AstraZeneca, Sanofi, and Eli Lilly. The EU's drugs watchdog recently raised a thyroid cancer safety signal for Novo Nordisk's drugs.

Portfolio Pulse from Vandana Singh

July 26, 2023 | 3:07 pm

BA

A Boeing executive has expressed confidence in the regulatory process for the company's 777X aircraft, according to Reuters. No further details were provided.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 2:59 pm

IXHL

Incannex Healthcare Limited (NASDAQ:IXHL) has completed a pre-Investigational New Drug Application (‘pre-IND’) meeting with the U.S. Food and Drug Administration for its proprietary drug product IHL-675A for treatment of rheumatoid arthritis. The FDA provided valuable feedback and confirmed that no further nonclinical studies are needed for the IND application. Incannex is incorporating this guidance into clinical trial designs and the overarching strategy for development of IHL-675A.

Portfolio Pulse from Vuk Zdinjak

July 26, 2023 | 2:56 pm

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MSFT

Amazon has offered to change its marketplace rules to address concerns raised by the UK's Competition and Markets Authority (CMA) following a regulatory probe into alleged abuse of its position. The company has committed to not using Marketplace seller data and to treating all sellers' offers equally. It will also allow independently negotiated rates between carriers and sellers for Prime orders that Amazon does not fulfill. The CMA is currently consulting on Amazon's proposed commitments. Amazon's shares traded lower by 1.70% at $126.94 on the last check Wednesday.

Portfolio Pulse from Anusuya Lahiri

July 26, 2023 | 2:54 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares are trading higher by 7.81% to $27.33 despite no company-specific news. The stock is trading higher amid overall market volatility ahead of the Fed's decision on interest rates. Higher interest rates could make borrowing more expensive for companies like Rivian, potentially impacting their growth plans and overall financial health. It could also reduce consumer spending, impacting Rivian's sales.

Portfolio Pulse from Henry Khederian

July 26, 2023 | 2:52 pm

ABT

The FDA has announced that Abbott (ABT) is recalling its Amplatzer Steerable Delivery Sheath due to an increased risk of air embolism. The FDA has classified this as a Class I recall, the most serious type of recall which indicates that use of these devices may cause serious injuries or death.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 2:47 pm

SPY

U.S. Majority Leader Schumer has announced that the Senate is close to finalizing a defense policy bill. The bill's completion could have implications for defense-related stocks.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 2:38 pm

AMZN

Amazon.com, Inc (NASDAQ:AMZN) opened about 2% lower following reports of the Federal Trade Commission preparing an anti-trust lawsuit aimed at breaking up parts of the company. The news caused Amazon's stock to break down from an inside bar pattern on the daily chart, indicating a bearish trend. The stock fell to the 50-day simple moving average (SMA), where it found support. However, the downtrend remains intact with the most recent lower high and lower low confirmed. The stock has resistance above at $131 and $136.83 and support below at $125.93 and $117.16.

Portfolio Pulse from Melanie Schaffer

July 26, 2023 | 2:33 pm

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The World Health Organization (WHO) has published new editions of the Model Lists of Essential Medicines (EML) and Essential Medicines for Children (EMLc), which include new medicines for various diseases. However, Novo Nordisk's obesity drug Saxenda was not included due to uncertain long-term clinical benefit and safety. Other drugs included in the list are from EMD Serono, Merck KGaA, Teva Pharmaceuticals, Roche Holdings, Ridgeback Biotherapeutics, and Regeneron Pharmaceuticals.

Portfolio Pulse from Vandana Singh

July 26, 2023 | 2:24 pm