Streetbeat News

Regulatory

TSLA

The SEC plans to seek sanctions against Elon Musk for allegedly violating a court order to testify in an investigation related to his Twitter takeover. This development could have implications for Musk's companies, including Tesla.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 7:55 pm

GLD

SPY

Federal Reserve Governor Michelle W. Bowman dissented from the majority decision for a 50-basis-point interest rate cut, advocating instead for a 25-basis-point reduction due to persistent inflation concerns. This dissent marks a significant break from two decades of unanimous Fed decisions. Despite contrasting views from Fed Governor Christopher Waller, who supports a larger cut due to softening inflation, the market reaction was muted, with the S&P 500 and Treasury yields remaining steady. However, gold prices reached new highs.

Portfolio Pulse from Piero Cingari

September 20, 2024 | 7:43 pm

CVS

UNH

The FTC is targeting UnitedHealth, CVS, and Cigna for allegedly inflating insulin prices, leading to potential stock volatility. UnitedHealth's size may be a strength or a liability, CVS's diversification could complicate regulatory navigation, and Cigna's focused approach might allow it to adapt more easily.

Portfolio Pulse from Surbhi Jain

September 20, 2024 | 7:40 pm

CVS

LLY

NVO

SNY

UNH

The FTC has filed a lawsuit against CVS Health, Cigna, and UnitedHealth's pharmacy benefit managers for allegedly inflating insulin prices through anti-competitive practices. The complaint highlights a rebate system that prioritizes higher-priced drugs, increasing costs for patients.

Portfolio Pulse from Vandana Singh

September 20, 2024 | 7:26 pm

DJT

Former President Donald Trump's ownership of Trump Media & Technology Group (NASDAQ:DJT) raises ethics concerns ahead of the 2024 election. Potential conflicts of interest arise from his control over the media company, especially if he returns to the White House. The stock is down 6.7% to $13.70, hitting new lows post-SPAC merger.

Portfolio Pulse from Chris Katje

September 20, 2024 | 7:21 pm

ICUI

ICU Medical's subsidiary, Smiths Medical, has recalled paraPAC Plus ventilators due to a loose outlet connector that can cause serious health risks, including death. The recall follows reports of one injury and one death. ICU Medical's stock fell 1.56% following the news.

Portfolio Pulse from Vandana Singh

September 20, 2024 | 7:18 pm

ABBV

BMY

Bristol-Myers Squibb's acquisition of Karuna Therapeutics positions it to potentially launch KarXT, the first new schizophrenia treatment in 70 years, pending FDA approval. This could significantly impact the treatment landscape, though high costs and systemic healthcare challenges may limit access.

Portfolio Pulse from Vandana Singh

September 20, 2024 | 7:12 pm

TCNNF

A Georgia pharmacy has begun selling low-THC medical marijuana, marking a new frontier in cannabis sales. Despite DEA opposition, the Georgia Board of Pharmacy is allowing pharmacies to dispense medical cannabis, with Botanical Sciences LLC and Trulieve Cannabis Corp. supplying products.

Portfolio Pulse from Jelena Martinovic

September 20, 2024 | 7:02 pm

GOOGL

MSFT

NVDA

This week, AI-focused stocks like Nvidia, Microsoft, and Alphabet experienced fluctuations due to optimism about AI's potential and concerns over high valuations. Nvidia benefits from strong AI chip demand but faces valuation skepticism. Microsoft's AI integration through OpenAI boosts its stock, while Alphabet's AI innovations are tempered by regulatory concerns.

Portfolio Pulse from Benjamin Locke

September 20, 2024 | 6:39 pm

SPY

Philadelphia Fed President Harker praised the Federal Reserve's efforts in managing the economy, suggesting confidence in current monetary policies.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 6:18 pm