Streetbeat News

Regulatory

SPY

The Federal Reserve's Semi-Annual Monetary Policy Report is being live-streamed, discussing the current state of the economy and potential policy changes.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2023 | 2:08 pm

AMZN

The Federal Trade Commission (FTC) has accused Amazon of tricking consumers into automatically renewing their Prime subscriptions without proper consent. The FTC is seeking refunds for affected customers.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:07 pm

AMZN

The Federal Trade Commission (FTC) has filed a lawsuit against Amazon, accusing the company of enrolling millions of consumers into Amazon Prime without their consent and sabotaging their attempts to cancel the service.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:06 pm

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NIO

TSLA.O

China has announced a $72.3 billion tax break package for electric vehicles (EVs) and other green cars over four years, aiming to boost the slowing auto sales growth. The package includes purchase tax exemptions for new energy vehicles (NEVs) and is expected to benefit domestic automakers like NIO, Li Auto, and BYD.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 2:05 pm

BABA

CSCO

GOOGL

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UBER

Ant Group is developing ChatGPT-style services, while Cisco launches AI chips to compete with Broadcom and Marvell. YouTube plans to debut its first official shopping channel in South Korea. Bolt partners with Starship Technologies for robot food delivery, and Chinese regulators reprimand Starbucks and Shake Shack over privacy breaches.

Portfolio Pulse from Vandana Singh

June 21, 2023 | 2:02 pm

ARGX

AZN

HALO

TAK

The FDA has approved Argenx's Vyvgart Hytrulo, a subcutaneous injection for generalized myasthenia gravis (gMG) in adult patients. The product is a combination of efgartigimod alfa and Halozyme Therapeutics' ENHANZE drug delivery technology. It is expected to be available in the U.S. in July 2023, with decisions on European and Japanese approvals expected by the end of 2023 and Q1 of 2024, respectively.

Portfolio Pulse from Vandana Singh

June 21, 2023 | 1:56 pm

BABA

Alibaba shares are trading higher by 1.01% after Eddie Wu was announced as the new CEO, succeeding Daniel Zhang. Chinese stocks fell after China's central bank cut its one-year loan prime rate and five-year rate to stimulate economic recovery.

Portfolio Pulse from Henry Khederian

June 21, 2023 | 1:51 pm

SPY

The World Health Organization (WHO) is preparing for a 'very high' probability of an El Nino event in 2023 and 2024, which could increase the spread of diseases like dengue, Zika, and chikungunya.

Portfolio Pulse from Happy Mohamed

June 21, 2023 | 1:45 pm

ALDX

Aldeyra Therapeutics plans to discuss an Expanded Access Program with the FDA due to a shortage of Methotrexate, lack of approved therapy for PVRL, and inbound requests for ADX-2191.

Portfolio Pulse from Bill Haddad

June 21, 2023 | 1:36 pm

ALDX

Aldeyra Therapeutics' literature-based NDA submission faced criticism from the FDA, citing a lack of substantial evidence of effectiveness due to inadequate and poorly controlled investigations.

Portfolio Pulse from Bill Haddad

June 21, 2023 | 1:36 pm