Streetbeat News

Regulatory

PFE

SGMO

Sangamo Therapeutics Inc (SGMO) saw a significant stock price increase after announcing positive results from a Phase 3 study of a gene therapy for hemophilia A, developed in collaboration with Pfizer Inc (PFE). The study met its primary and key secondary endpoints, showing a substantial reduction in bleeding rates. Despite this, Pfizer's stock saw a slight decline.

Portfolio Pulse from Vandana Singh

July 24, 2024 | 4:10 pm

CRWD

DAL

Delta Air Lines (NYSE:DAL) faces a $500M financial hit due to an IT outage causing thousands of cancellations. Citigroup (NYSE:C) reduced Delta's Q3 earnings estimates, and Melius Research estimated a $350M impact on operating profit. The outage, caused by CrowdStrike (NASDAQ:CRWD), also damaged Delta's reputation.

Portfolio Pulse from Shivani Kumaresan

July 24, 2024 | 4:02 pm

EWU

PFE

The UK's Medicines and Healthcare products Regulatory Agency (MHRA) has approved an adapted version of Pfizer/BioNTech's Covid-19 vaccine, Comirnaty, which targets the JN.1 subvariant. Four forms of this adapted vaccine have been approved.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 3:57 pm

AAPL

AAPX

FTEC

Apple Inc. (AAPL) is under investigation by Spain's National Commission for Markets and Competition for potential anti-competitive practices related to its App Store. The investigation could last up to 24 months and may result in significant fines. AAPL shares are down 2.96%. Investors can also gain exposure through ETFs like AAPX and FTEC.

Portfolio Pulse from Lekha Gupta

July 24, 2024 | 3:42 pm

Toyota's Lexus plans to build its own plant in China to manufacture the Lexus UX hybrid and a new BEV model. The models will be sold in China and overseas, including Japan. However, the proposal may face delays due to Chinese authorities' controls on auto factory capacity. Toyota is in discussions with Shanghai authorities for tax incentives and policy backing. TM shares are trading lower by 1.26%.

Portfolio Pulse from Nabaparna Bhattacharya

July 24, 2024 | 3:34 pm

EWY

FXI

SPY

The U.S. has issued new sanctions targeting a China-based network that supports North Korea's ballistic missile and space programs. These sanctions involve China-based individuals and entities.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 3:33 pm

AMAT

AMD

ASML

AVGO

INTC

KLAC

LRCX

MPWR

MRVL

NVDA

QCOM

TSM

Shares of semiconductor stocks are trading lower amid recent earnings in the sector and concerns over potential China restrictions.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 3:25 pm

BLMZ

BloomZ (BLMZ) shares have resumed trading after a temporary halt. The company has not provided specific reasons for the halt, but investors are closely monitoring the situation for further updates.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 3:21 pm

NGD

New Gold Inc. reported a fatal accident at its Rainy River Mine in northwestern Ontario, leading to a voluntary suspension of operations. An investigation is underway.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 3:17 pm

LCID

NIO

RIVN

TSLA

XPEV

Tesla Inc (NASDAQ:TSLA) reported disappointing Q2 results, missing earnings expectations and causing an 8% drop in premarket trading. This decline also affected shares of Rivian Automotive Inc (NASDAQ:RIVN), Lucid Group Inc (NASDAQ:LCID), Nio Inc (NYSE:NIO), and XPeng Inc (NYSE:XPEV). Tesla's automotive revenue dropped 7% YoY, and adjusted income plummeted 43% YoY. Despite remaining the top EV seller in the U.S., Tesla is losing market share to rivals. CEO Elon Musk announced plans for an affordable EV by 2025 and delayed the robotaxi details release to October 10th.

Portfolio Pulse from Upwallstreet

July 24, 2024 | 3:17 pm