Streetbeat News

Regulatory

ABBV

AbbVie Inc announced that its Phase 3 TEMPO-1 trial for tavapadon, a treatment for early Parkinson's disease, met its primary and key secondary endpoints. The trial showed significant improvement in patients' symptoms compared to placebo. The safety profile was consistent with previous trials. Full results will support future regulatory submissions.

Portfolio Pulse from Vandana Singh

September 26, 2024 | 3:14 pm

FXI

China's newest nuclear-powered attack submarine sank in the spring, marking a significant setback for its military modernization efforts. The incident occurred at a shipyard near Wuhan and was initially covered up by Chinese authorities.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 3:07 pm

SPY

US Federal Reserve Vice Chair Michael Barr announced that the Fed is reviewing the Supplementary Leverage Ratio as part of a capital rule review, with no current planned changes. A proposal on tweaks to bank liquidity rules is expected later this year or early next year.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 3:00 pm

GE

RYCEY

WAB

GE Hitachi, Holtec, Rolls-Royce SMR, and Westinghouse have advanced to the next stage of the UK's small modular reactor (SMR) program, while NuScale was not selected. The companies will enter negotiations with Great British Nuclear, aiming for contracts by the end of the year.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 2:59 pm

SPY

The Federal Reserve's Michael Barr stated that the Fed views the discount window as a normal funding source and believes banks should use it when appropriate.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 2:55 pm

EIS

ISRA

The President of the State of Palestine, Mahmoud Abbas, has stated that Israel has almost entirely destroyed Gaza, rendering it unfit for life. This statement highlights the ongoing conflict and its severe impact on the region.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 2:44 pm

USDTUSD

Tether CEO Paolo Ardoino discussed the launch of a Dirham-pegged stablecoin and a new tokenization platform. He emphasized Tether's proactive compliance with U.S. authorities and expressed concerns about European regulations. Tether aims for growth in the stablecoin market.

Portfolio Pulse from Khyathi Dalal

September 26, 2024 | 2:39 pm

SPY

The Federal Reserve is considering a new liquidity rule that would be linked to uninsured deposits, as stated by Fed's Barr. This move aims to enhance financial stability by ensuring banks have sufficient liquidity to cover potential deposit outflows.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 2:31 pm

WFC

Wells Fargo has reportedly submitted a crucial review to the Federal Reserve, which is a significant step towards lifting the asset cap imposed on the bank. This development could potentially impact Wells Fargo's operations and financial performance.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 2:29 pm

PFE

Pfizer has voluntarily withdrawn its sickle cell disease treatment, Oxbryta, from the global market due to safety concerns, including painful complications and deaths. The company has also halted all related clinical trials and does not expect this to impact its 2024 financial guidance.

Portfolio Pulse from Vandana Singh

September 26, 2024 | 2:29 pm