Streetbeat News

Regulatory

CVS

LLY

NVO

SNY

The FTC has filed a lawsuit against units of CVS Health, Cigna, and UnitedHealth, accusing them of artificially inflating insulin prices by excluding cheaper options in favor of expensive, highly rebated alternatives. The lawsuit does not currently name insulin drugmakers Eli Lilly, Novo Nordisk, and Sanofi, but the FTC reserves the right to sue them later.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 4:08 pm

SPY

Federal Reserve Governor Christopher Waller expressed confidence that inflation is on the right path but cautioned against letting it fall too low. He mentioned the possibility of reversing course if necessary.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 3:42 pm

SPY

President Biden emphasized the importance of Congress passing a spending bill, which could have implications for the broader market, including ETFs like SPY.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 3:40 pm

SPY

Federal Reserve Governor Christopher Waller emphasized that the Fed is not falling behind in its economic policies. The Fed's decisions are made independently of political influences, focusing on maintaining a strong economy and controlling inflation.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 3:40 pm

SPY

Federal Reserve's Waller suggests that if inflation data reverses, it could justify a pause in rate hikes. The Fed is currently data-dependent and advises focusing on a 6 to 12-month outlook rather than specific calendar dates.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 3:37 pm

CGC

Tokyo Smoke, a Canadian cannabis retailer, is restructuring and has entered a $56.7M share deal with its parent company, TS Investments Corp. Previously owned by Canopy Growth Corporation (NASDAQ:CGC), Tokyo Smoke is closing 29 stores and seeking buyers or investors to improve its business. The restructuring aims to align with market conditions and exit CCAA protection stronger.

Portfolio Pulse from Jelena Martinovic

September 20, 2024 | 3:37 pm

SPY

Fed's Waller initially supported a 25 basis point rate cut but shifted to 50 basis points after recent inflation data. He estimates August PCE to be low, with core PCE running below target on a 4-month average annualized basis.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 3:34 pm

FXI

SPY

China and the U.S. held their fifth meeting of the Economic Working Group in Beijing from September 19-20. China expressed serious concerns over U.S. tariffs, investment restrictions, Russia-related sanctions, and the impact on Chinese companies.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 3:02 pm

BHP

The mining industry is experiencing a surge in mergers and acquisitions (M&A) as companies like BHP Group Ltd. focus on acquisitions over greenfield exploration due to high costs and risks. Despite copper's price decline, its future shortages are a concern. BHP's Oak Dam project is a rare large-scale greenfield copper prospect, but the company continues to expand through acquisitions, such as the Filo copper project. AI offers potential in identifying new deposits, but geopolitical and regulatory challenges remain significant hurdles.

Portfolio Pulse from Stjepan Kalinic

September 20, 2024 | 3:00 pm

MRK

MRNA

MYNZ

PFE

Pfizer presented positive trial data for its experimental drug ponsegromab, aimed at treating cancer cachexia, at the European Society for Medical Oncology 2024 Congress. The drug showed promising results in improving weight and quality of life for patients. Pfizer plans to start late-stage trials in 2025. Moderna and Merck are also advancing in cancer treatment with their experimental cancer vaccine and immunotherapy drug. Mainz Biomed is working on early cancer detection with its ColoAlert test.

Portfolio Pulse from Upwallstreet

September 20, 2024 | 2:48 pm