Streetbeat News

Regulatory

AN

GM

JNJ

TSM

Investor sentiment declines as Nasdaq falls 2%. Cathie Wood's Ark Invest reduces GM stake and buys more Taiwan Semiconductor shares. UK Finance Ministry disagrees with calls to regulate crypto as gambling. CoinDesk is on the verge of a $125M acquisition. Microsoft-Activision deal may be heading towards settlement talks. AutoNation expected to report lower Q2 earnings. Starbucks partners with K-Pop stars BLACKPINK for potential sales boost. J&J investors will soon be able to exchange shares for Kenvue stocks.

Portfolio Pulse from Akanksha Bakshi

July 21, 2023 | 10:24 am

AAPL

GOOGL

Google's Play Store commissions are under increasing scrutiny by regulators worldwide. The company has been fined $10.63 billion since 2017 for its billing systems and anti-competitive practices. Regulators in Australia, India, and South Korea are considering laws to allow app developers to offer in-app purchases without cutting their earnings to Google and Apple. In India, Google has been directed to charge a lower commission of 4% on in-app purchases in the Disney+ Hotstar app.

Portfolio Pulse from Rounak Jain

July 21, 2023 | 10:22 am

MRTX

Mirati Therapeutics has received a negative opinion from the European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) on its application for conditional marketing authorization for KRAZATI (Adagrasib) for patients with KRASG12C-mutated advanced non-small cell lung cancer. Mirati disagrees with the opinion and plans to request a formal re-examination.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 10:21 am

EBS

The FDA has approved Emergent BioSolutions Inc's (NYSE:EBS) two-dose anthrax vaccine, Cyfendus, for adults aged 18 through 65. The vaccine is approved for post-exposure prophylaxis of disease following suspected or confirmed exposure to Bacillus anthracis. The U.S. government has been procuring this product for national preparedness efforts since 2019. Following the announcement, EBS shares jumped 17.28% in premarket trading.

Portfolio Pulse from Vandana Singh

July 21, 2023 | 10:15 am

JPM

JP Morgan is planning to launch its online banking platform, Chase, in Germany and other EU countries. This move is part of the bank's strategy to expand its digital footprint in Europe.

Portfolio Pulse from Charles Gross

July 21, 2023 | 9:52 am

FXI

SPY

China's State Financial Regulatory Administration is drafting rules to allow multinational groups to directly initiate the establishment of foreign-funded financial companies. This move could potentially open up China's financial sector to more foreign investment.

Portfolio Pulse from Charles Gross

July 21, 2023 | 9:27 am

FXI

SPY

China's State Financial Regulatory Administration has announced that it will remove restrictions preventing overseas non-financial institutions from investing in financial asset management firms. It will also abolish the total asset requirement for overseas financial institutions as investors of financial asset management companies.

Portfolio Pulse from Charles Gross

July 21, 2023 | 9:25 am

EBS

The FDA has approved Emergent BioSolutions' two-dose anthrax vaccine for adults, leading to a rise in the company's stock.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 8:39 am

ABBV

GMAB

The European Medicines Agency's Committee for Medicinal Products for Human Use (CHMP) has issued a positive opinion for Epcoritamab (Tepkinly), a drug developed in partnership by Genmab and AbbVie, for the treatment of relapsed/refractory diffuse large B-cell lymphoma.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 8:34 am

KPRX

Kiora Pharmaceuticals has received a deficiency letter from NASDAQ, indicating that the company is not in compliance with NASDAQ's listing rules. The company has until January 15, 2024, to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

July 21, 2023 | 8:20 am