Streetbeat News

Regulatory

SPY

Billionaire investor Leon Cooperman has warned that the U.S. is heading toward a financial crisis. In a CNBC interview, Cooperman expressed concerns about the current economic policies and their potential long-term impacts on the financial markets.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 3:21 pm

MO

PM

XXII

The FDA has proposed a new rule requiring the submission of tracking numbers for imports of e-cigarette products. This move aims to enhance the regulation and monitoring of e-cigarette imports.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 3:09 pm

MSFT

Microsoft has announced the introduction of mandatory multifactor authentication (MFA) for all Azure sign-ins, with the rollout starting in the second half of 2024. This move aims to enhance security for Azure users.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 3:04 pm

CVX

DRLL

XLE

Chevron Corporation (NYSE:CVX) will pay Richmond $550 million over 10 years, avoiding a new refinery tax. The agreement led to the withdrawal of a proposed tax measure on Chevron's Richmond refinery. Chevron also began oil and natural gas production from the Anchor project in the Gulf of Mexico. CVX shares are up 1.15%. Investors can gain exposure via EA Series Trust Strive U.S. Energy ETF (NYSE:DRLL) and SPDR Select Sector Fund – Energy Select Sector (NYSE:XLE).

Portfolio Pulse from Lekha Gupta

August 15, 2024 | 2:44 pm

BMY

JNJ

LLY

MRK

The Biden administration announced that Medicare's newly negotiated prescription drug prices, expected to save the U.S. government $6 billion in the first year, will take effect in 2026. This initiative, part of the Inflation Reduction Act, aims to lower healthcare costs for Medicare recipients. Key drugs impacted include Bristol Myers Squibb's Eliquis, Merck's Januvia, Johnson & Johnson's Imbruvica, and Eli Lilly's Jardiance. Despite the savings, the direct benefit to patients remains unclear.

Portfolio Pulse from Vandana Singh

August 15, 2024 | 2:38 pm

TPST

Tempest Therapeutics shares are trading higher following positive feedback from the FDA on their end-of-Phase 2 meeting for amezalpat in combination with atezolizumab and bevacizumab to treat first-line unresectable or metastatic hepatocellular carcinoma.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 2:34 pm

ANew Medical

ANew Medical shares are trading higher following the announcement of a new US patent for their Klotho gene therapy, which targets neurodegenerative diseases.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 2:21 pm

ALK

HA

Hawaiian Holdings shares are trading higher after the company and Alaska Air agreed with the DoJ to further extend the review period until August 20, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 2:17 pm

TOMZ

TOMI Environmental Solutions has issued a blog post emphasizing the importance of infection prevention to combat the mpox virus outbreak. The World Health Organization has called for an emergency meeting due to a surge in mpox cases in the Democratic Republic of Congo and surrounding African countries. SteraMist, a product by TOMI Environmental Solutions, has been recognized by the EPA for its effectiveness in disinfecting against emerging viral pathogens, including mpox.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2024 | 2:13 pm

INCY

SNDX

The FDA has approved Incyte Corporation (NASDAQ: INCY) and Syndax Pharmaceuticals Inc’s (NASDAQ: SNDX) drug Niktimvo for chronic graft-versus-host disease (GVHD) after failure of at least two prior lines of systemic therapy. This approval is based on the AGAVE-201 study, which showed a 75% overall response rate within the first six months of treatment. Niktimvo will be co-commercialized by Incyte and Syndax in the U.S., with Incyte holding exclusive commercialization rights outside the U.S. The companies plan to launch smaller vial sizes by early Q1 2025.

Portfolio Pulse from Vandana Singh

August 15, 2024 | 2:11 pm