Streetbeat News

Regulatory

SPY

The Director of the National Economic Council of the U.S., Brainard, has expressed optimism that the country can achieve near-2% economic growth before the upcoming elections.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 1:46 pm

WBX

Orilla Asset Management, S.L. has increased its stake in Wallbox N.V. to 9.1%, according to a 13D filing with the SEC.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 1:41 pm

GS

Goldman Sachs shares are trading higher following the Federal Reserve's stress test results. The test showed that all 23 banks, including Goldman Sachs, remained above their minimum capital requirements during a hypothetical recession.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 1:39 pm

LYFT

UBER

The California Supreme Court has agreed to hear an appeal on Proposition 22, a ruling that previously favored ride-hailing companies Uber and Lyft by classifying their drivers as contractors rather than employees.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 1:34 pm

AZN

AstraZeneca has announced that its IMFINZI plus IMJUDO treatment has shown an overall survival benefit in advanced liver cancer in the HIMALAYA Phase III trial.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 1:16 pm

UUP

New economic data shows continued labor strength and stronger-than-expected economic growth in the US. Weekly unemployment benefits fell more than expected, indicating a resilient labor market. The final estimate of annual real GDP growth for Q1 was 2%, above the expected 1.4%. The U.S. dollar, tracked by the Invesco DB USD Index Bullish Fund ETF (UUP), trended higher. Fed Chair Jerome Powell reinforced hawkish tones, stating that the majority of the board sees two or more rate hikes by year-end.

Portfolio Pulse from Piero Cingari

June 29, 2023 | 1:06 pm

SPY

The U.S. Securities and Exchange Commission (SEC) has adopted a rule aimed at preventing fraud, manipulation, and deception in transactions involving security-based swaps.

Portfolio Pulse from Benzinga Newsdesk

June 29, 2023 | 12:58 pm

MU

Micron Technology Inc's shares are rising after reporting better-than-expected Q3 results and receiving several analyst upgrades. The company reported Q3 revenue of $3.75 billion, beating the consensus estimate of $3.65 billion, and a quarterly loss of $1.43 per share, better than the estimated loss of $1.58 per share. However, the company's recovery and forecast are impacted by the Cyberspace Administration of China's decision to ban Chinese companies from buying Micron products.

Portfolio Pulse from Adam Eckert

June 29, 2023 | 12:57 pm

META

Meta Platforms Inc. (NASDAQ:META) has disclosed how AI influences recommendations on Facebook and Instagram and announced new controls to give users more control over what they see on these social networks. The company is testing these features and is also increasing transparency concerning the recommendations, allowing users to understand why they are being recommended a post or reel.

Portfolio Pulse from Rounak Jain

June 29, 2023 | 12:50 pm

AQST

Aquestive Therapeutics (NASDAQ:AQST) has submitted a New Drug Application (NDA) to the FDA for approval of Libervant, a treatment for seizure clusters in patients aged 2-5 years. The company received tentative approval for Libervant for patients aged 12 and older in August 2022, but is currently under an orphan drug block until January 2027. Aquestive also announced the appointment of Carl N. Kraus, M.D. as Chief Medical Officer.

Portfolio Pulse from Happy Mohamed

June 29, 2023 | 12:44 pm