Streetbeat News

Regulatory

NVS

Novartis has received European Commission approval for Cosentyx, an IL-17A inhibitor, to be used in adults with active moderate to severe hidradenitis suppurativa (HS) who have had an inadequate response to conventional systemic HS therapy.

Portfolio Pulse from Charles Gross

June 01, 2023 | 8:54 am

BNO

VDE

Oil prices rose after the passage of the debt ceiling bill in the House and Federal Reserve officials indicated a potential rate hike skip in June. The United States Brent Oil Fund (BNO) and Vanguard Energy Index Fund ETF (VDE) closed lower on Wednesday. OPEC+ is expected to continue bullish rhetoric but not announce production cuts at the June meeting.

Portfolio Pulse from Bhavik Nair

June 01, 2023 | 6:57 am

AMZN

Amazon has agreed to pay $30.8 million in settlements with the Federal Trade Commission over allegations of spying on customers through Ring doorbell cameras and violating children's privacy rights with Alexa recordings. The fines amount to a fraction of the company's Q1 profit of $3.2 billion.

Portfolio Pulse from Ananya Gairola

June 01, 2023 | 6:16 am

BTCUSD

Senator Elizabeth Warren emphasized the role of crypto in fentanyl drug transactions during a Senate Banking Committee meeting, urging for the enactment of the Digital Asset Anti-Money Laundering Act. The bill aims to close loopholes in anti-money laundering rules and prevent drug suppliers and cartels from using crypto for illegal business. Warren cited a report stating that 90 Chinese suppliers traded enough precursor drugs in exchange for crypto to produce $54 billion worth of fentanyl pills.

Portfolio Pulse from Mehab Qureshi

June 01, 2023 | 5:43 am

GOOG

GOOGL

META

Meta Platforms Inc. (NASDAQ:META) has threatened to block access to news articles on Facebook and Instagram in California in response to the proposed California Journalism Preservation Act. The act aims to compel tech companies to compensate publishers for their content. Meta has previously made similar threats in Australia and Canada.

Portfolio Pulse from Ananya Gairola

June 01, 2023 | 4:25 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced a slight decline amid inflation concerns and the Federal Reserve's continuous rate increases. The global crypto market capitalization decreased by 1.32% to $1.14 trillion. Analysts suggest that the Fed's tightening and hot labor data may keep Bitcoin trapped in the lower boundaries of its trading range.

Portfolio Pulse from Mehab Qureshi

June 01, 2023 | 2:52 am

DIA

IWM

QQQ

SPY

The House of Representatives has passed a bill to raise the debt limit, preventing a potential default on U.S. government debt.

Portfolio Pulse from Benzinga Newsdesk

June 01, 2023 | 1:30 am

VNDA

Vanda Pharmaceuticals has been granted FDA Orphan Drug Designation for the treatment of Charcot-Marie-Tooth Disease, Axonal, Type 2S (CMT2S). This designation provides various benefits, including tax credits and market exclusivity.

Portfolio Pulse from Charles Gross

May 31, 2023 | 11:06 pm

PFE

Pfizer announced that the FDA has approved ABRYSVO, a vaccine for the prevention of lower respiratory tract disease caused by RSV in individuals aged 60 and older. The approval is based on data from the pivotal Phase 3 clinical trial RENOIR.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2023 | 9:52 pm

BTCUSD

The European Union has enacted the Markets in Crypto Assets (MiCA) regulation, positioning the bloc as a pioneer in cryptocurrency regulation. The MiCA regulation is expected to come into effect in the coming weeks and will grant crypto exchanges and wallet providers a license to operate across the 27-member bloc.

Portfolio Pulse from Murtuza Merchant

May 31, 2023 | 8:58 pm