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Regulatory

BABA

JD

Alibaba and JD.Com shares rose in pre-market trading following China's central bank's announcement of economic stimulus measures, including reducing bank cash reserves and supporting the property market. This move aims to stabilize China's economy amid challenges like a property slump and trade tensions.

Portfolio Pulse from Pooja Rajkumari

September 27, 2024 | 9:35 am

CEE

The Central and Eastern Europe Fund, Inc. (NYSE:CEE) has successfully sold some Russian assets, boosting its NAV amid ongoing sanctions. The Fund continues to monitor opportunities for further sales, but future transactions are uncertain due to regulatory constraints and potential expropriation risks.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 7:11 am

BGNE

BeiGene's TEVIMBRA receives FDA panel support for use in advanced esophageal and gastric cancers with PD-L1 expression >1%. The FDA's Oncologic Drugs Advisory Committee voted in favor of a class-wide PD-L1 expression level cut-off for PD-1 inhibitors in these cancers.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 7:07 am

BMY

The FDA has approved Bristol Myers Squibb's new schizophrenia drug, COBENFY, marking the first new class of treatment in decades. This approval introduces a novel approach by targeting M1 and M4 receptors, offering a new option for patients with schizophrenia.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 6:57 am

BMY

PRTC

PureTech Health's Cobenfy, a treatment for schizophrenia, has received FDA approval, triggering $29M in milestone payments. The drug, developed by PureTech and now under Bristol Myers Squibb, marks a significant innovation in schizophrenia treatment. PureTech's business model, which includes strategic royalty agreements, has generated $1.1 billion, enabling further program advancements.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 6:39 am

BTCUSD

The U.S. Justice Department, in collaboration with international law enforcement, has seized websites of illegal cryptocurrency exchanges linked to Russian money laundering networks. This includes the indictment of Sergey Ivanov, who ran platforms like UAPS and PM2BTC, which were involved in laundering funds from criminal activities. The crackdown highlights the increasing vigilance of U.S. authorities against cryptocurrency-related crimes.

Portfolio Pulse from Aniket Verma

September 27, 2024 | 6:11 am

BAC

JPM

SPY

TSLA

Elon Musk's prediction of a market crash similar to 1929 has not materialized, as the S&P 500 has surged nearly 50% since his tweet. Despite initial turmoil from bank failures, the market has shown resilience.

Portfolio Pulse from Kaustubh Bagalkote

September 27, 2024 | 5:20 am

MSFT

Microsoft is investing $2.7 billion in Brazil to develop the AI ecosystem, marking its largest commitment in the country. This move contrasts with Elon Musk's companies facing legal challenges in Brazil.

Portfolio Pulse from Ananya Gairola

September 27, 2024 | 3:04 am

BA

UAL

Boeing 737 Max jets face new safety concerns due to potential jamming of steering pedals caused by moisture leakage. The NTSB has issued recommendations to Boeing and the FAA after an incident involving a United Airlines plane. This adds to the ongoing safety issues with the 737 Max, which was previously grounded after fatal crashes.

Portfolio Pulse from Benzinga Neuro

September 27, 2024 | 2:49 am

BMY

The FDA has approved Bristol-Myers Squibb's Cobenfy, a new antipsychotic drug for schizophrenia that targets cholinergic receptors, marking a shift from the traditional dopamine receptor approach.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 11:57 pm