Streetbeat News

Regulatory

EWW

SPY

Fitch has affirmed Mexico's Long-Term Foreign-Currency IDR at 'BBB-' with a stable outlook. The agency notes that proposed judicial reforms could negatively impact the country's institutional profile. There is uncertainty over the incoming administration's efforts to narrow the deficit, but debt/GDP remains stable. Economic activity is expected to pick up for the rest of the year after a weak Q1, with a slight slowdown anticipated next year.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:48 pm

AGEN

Agenus Inc. (NASDAQ:AGEN) stock plummeted over 50% on Thursday following the FDA's discouragement of an accelerated approval pathway for its immunotherapy combination, botensilimab and balstilimab, for colorectal cancer. Despite promising Phase 1 and Phase 2 trial results, the FDA's concerns about survival benefits led to the stock's decline. Agenus plans to seek partnerships for a Phase 3 trial in the U.S. and is also engaging with European regulators for approval paths.

Portfolio Pulse from Vandana Singh

July 18, 2024 | 3:47 pm

ALK

Alaska Air CEO expects the DOJ to complete its review of the Hawaiian Airlines acquisition deal by August 5. The company also adjusted its full-year capacity growth expectation to be less than 2.5%.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:46 pm

AMD

AMZN

GOOG

MSFT

NVDA

ORCL

TSM

Chip stocks, including Nvidia (NVDA) and AMD (AMD), saw a brief recovery in Thursday's premarket session after a significant selloff on Wednesday. The sector was impacted by the Biden administration's semiconductor policies against China and Donald Trump's remarks against TSM. However, TSM's strong quarterly results provided a boost. Nvidia is highlighted as a key AI beneficiary with significant market share and pricing power.

Portfolio Pulse from Anusuya Lahiri

July 18, 2024 | 3:33 pm

AGR

Vineyard Wind reported that a significant part of a turbine blade has detached off the Massachusetts coast, with potential for more debris to wash ashore.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:27 pm

SLRX

Salarius Pharmaceuticals shares are trading lower after the company was notified by MD Anderson Cancer Center of a Grade 4 adverse event in the Seclidemstat clinical trial. The FDA has placed the trial on partial clinical hold, preventing new patient enrollment while allowing current patients to continue treatment.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 3:12 pm

SPY

President Biden's campaign aide has stated that Biden is not wavering on any of his policies, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 2:51 pm

DIS

NFLX

Netflix is expected to report higher Q2 earnings, with analysts revising forecasts upwards. The company, along with Disney, is challenging a new Canadian regulation. Netflix shares fell 1.4% recently. Analysts have maintained positive ratings and increased price targets for Netflix.

Portfolio Pulse from Avi Kapoor

July 18, 2024 | 2:41 pm

BTI

R.J. Reynolds has received FDA marketing approval for 7 Vuse e-cigarettes, a significant regulatory milestone for the company.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 2:26 pm

SPY

Federal Reserve's Goolsbee stated that recent inflation data has been positive, but the fight against inflation is not over. He also noted that the labor market is cooling, leading to a better balance.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 2:07 pm