Streetbeat News

Regulatory

GOOG

GOOGL

Italy has demanded over $1 billion in unpaid taxes from Google, marking a new tax dispute following a similar case settled in 2017. The investigation spans from 2018 to 2022 and focuses on Google's digital infrastructure in Italy. This development adds to Google's ongoing regulatory challenges in Europe.

Portfolio Pulse from Benzinga Neuro

June 28, 2024 | 1:30 pm

REGN

Regeneron Pharmaceuticals Inc (NASDAQ:REGN) announced that the European Medicines Agency's Committee for Medicinal Products for Human Use has adopted a positive opinion recommending conditional approval of odronextamab for relapsed/refractory follicular lymphoma and diffuse large B-cell lymphoma. The European Commission is expected to announce a final decision in the coming months. The positive opinion is based on Phase 1 and Phase 2 trials showing robust response rates and acceptable safety. Regeneron is also evaluating odronextamab in various other studies.

Portfolio Pulse from Vandana Singh

June 28, 2024 | 1:27 pm

CAPR

Capricor Therapeutics (NASDAQ:CAPR) announced positive 3-year safety and efficacy results from its HOPE-2 OLE study for deramiocel (CAP-1002) in treating Duchenne muscular dystrophy. The study showed benefits in both skeletal muscle and cardiac function, with a pre-BLA meeting with the FDA scheduled for Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 1:02 pm

WHLRD

Trading for WHLRD was halted and then resumed at 9:00:00 AM ET. The halt was due to news pending, and trading has now resumed.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 1:00 pm

SPY

In a CNBC interview, Fed's Daly stated that monetary policy is working but inflation remains too high. She aims to reduce inflation to 2% as gently as possible, expecting inflation to stay above 2% through 2025. Daly also mentioned that while generative AI could boost productivity, it's too early to speculate on its effects.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 12:59 pm

SPY

In a CNBC interview, Fed's Daly stated that the Federal Reserve could adjust its policy if inflation decreases or the labor market weakens. She emphasized that it is too early to make any policy decisions and that the Fed will consider both sides of its mandate. Daly also mentioned that business CEOs are already feeling uncertain. She reiterated that the Fed is apolitical and will not comment on the presidential debate.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 12:59 pm

SPY

Federal Reserve's Daly indicates that recent inflation data shows signs of cooling, suggesting that current monetary policies are effective. However, the Fed is not finished with its efforts, and if inflation remains persistent, interest rates may need to stay elevated for a longer period.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 12:58 pm

FFIE

Faraday Future Intelligent Electric Co. (NASDAQ:FFIE) shows bullish short-term technical signals despite a significant decline over the past year. The stock is trading above key moving averages and Bollinger Bands suggest potential gains. However, long-term indicators remain cautious. The company is addressing Nasdaq compliance issues through strategic moves like proposing a reverse stock split and appointing a new auditor.

Portfolio Pulse from Surbhi Jain

June 28, 2024 | 12:57 pm

NUWE

Trading halt status for NUWE was updated at 8:55:00 AM ET. The halt was due to pending news and the resumption times will be announced.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 12:55 pm

MRK

Merck & Co Inc (NYSE:MRK) received a unanimous recommendation from the CDC's ACIP for its Capvaxive vaccine for adults 65 and older, and certain adults 19-64 with underlying conditions. Additionally, the CHMP of the European Medicines Agency recommended the approval of Winrevair for PAH patients, with a final decision expected in Q3 2024. MRK shares were trading higher by 0.13% premarket on Friday.

Portfolio Pulse from Vandana Singh

June 28, 2024 | 12:39 pm