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SPY

Fed Chair Jerome Powell stated that the labor market remains strong and the disinflation trend is showing signs of resuming. He mentioned significant progress on inflation but emphasized the need for more data before reducing policy rates.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:38 pm

SHWZ

Medicine Man Technologies, Inc., operating as Schwazze (OTCQX:SHWZ), announced that its stock will transition to the OTC Expert Market due to a delayed SEC filing. The delay stems from the dismissal of its previous auditor, BF Borgers CPA PC, and the subsequent SEC order against BF Borgers. Schwazze has engaged Baker Tilly US, LLP as its new auditor and is working to complete the necessary audits. The company is also seeking a management cease trade order from the Ontario Securities Commission.

Portfolio Pulse from Nina Zdinjak

July 02, 2024 | 1:33 pm

TEM

Tempus AI, Inc. (NASDAQ:TEM) has been awarded Advanced Diagnostic Laboratory Test (ADLT) status by the Centers for Medicare & Medicaid Services (CMS) for its xT CDx next-generation sequencing assay. The initial ADLT rate is set at $4,500, and Tempus will be reimbursed at this rate from July 1, 2024, to March 31, 2025, while it collects private payor payment amounts.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:32 pm

MO

PM

XXII

The FDA's efforts to curb flavored vapes are set to draw a review from the Supreme Court. This regulatory action could impact companies involved in the production and sale of flavored vaping products.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:32 pm

LLY

NVO

The U.S. FDA has sent a warning letter to Ozempen.com for introducing unapproved and misbranded semaglutide drug products into interstate commerce. The FDA has requested that the website cease offering these drugs for sale to U.S. consumers.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:24 pm

INTC

MU

SSNLF

TSM

The Biden administration has launched a new program to develop the U.S. computer-chip workforce, utilizing part of the $5 billion federal funding allocated for the National Semiconductor Technology Center (NSTC). This initiative aims to prevent a labor shortage that could hinder domestic semiconductor production. Major recipients of Chips Act funding include Intel Corp. (NASDAQ: INTC), Taiwan Semiconductor Manufacturing Co. (NYSE: TSM), Samsung Electronics Co Ltd (OTC: SSNLF), and Micron Technology Inc. (NASDAQ: MU).

Portfolio Pulse from Shivani Kumaresan

July 02, 2024 | 1:20 pm

AVAV

The U.S. Department of State has approved a potential foreign military sale of AeroVironment's Switchblade 300 loitering munition systems to Taiwan for $60.2 million. This sale aims to enhance Taiwan's defensive capabilities and supports U.S. interests in the Indo-Pacific region.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:15 pm

ALVO

Alvotech (NASDAQ:ALVO) announced positive topline results from a confirmatory patient study for AVT03, a proposed biosimilar to Prolia and Xgeva. The study met its primary endpoints, demonstrating clinical similarity in terms of efficacy, safety, immunogenicity, and pharmacokinetics. Alvotech plans to file marketing applications for AVT03 later this year.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:13 pm

HOLI

Hollysys Automation Technologies has received the necessary approvals from the People's Republic of China (PRC) to proceed with its merger transaction.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:09 pm

MRNA

The U.S. government has awarded Moderna Inc. a $176 million contract to accelerate the development of its bird flu vaccine, mRNA-1018, in response to rising H5N1 bird flu cases. The funding will support late-stage development and testing, with results expected later this year.

Portfolio Pulse from Benzinga Neuro

July 02, 2024 | 12:55 pm