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Regulatory

SPY

Fed's Harker suggests maintaining current interest rates to control inflation and mitigate risks. While recent inflation data is promising, uncertainty remains, particularly in shelter and service sector inflation.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 5:01 pm

SPY

Philadelphia Fed President Patrick Harker stated that a single rate cut by the end of the year could be appropriate if his economic forecast materializes. However, he also mentioned that two cuts or none are possible, depending on incoming data. Harker emphasized the importance of monitoring inflation, labor markets, and economic activity due to the economic volatility experienced this year.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 5:01 pm

BYND

Beyond Meat has published a blog post addressing misrepresentations by the New York Post and Washington Post regarding a study linking vegan fake meats to heart disease. The company clarifies that plant-based meats constituted only 0.2% of the diet in the study.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 4:56 pm

MSFT

Microsoft was alerted to server-side request forgery vulnerabilities by Wiz and Tenable in April 2024. The engineering teams swiftly deployed mitigations by May 9, 2024. Despite existing security measures, the vulnerabilities bypassed certain validations, highlighting the need for enhanced security controls.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 4:51 pm

MRK

Merck & Co announced that the FDA has approved the use of Pembrolizumab in combination with chemotherapy for the treatment of primary advanced or recurrent endometrial carcinoma.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 4:32 pm

BLNK

Blink Charging Co. (NASDAQ:BLNK) shares are trading lower, down more than 11% over the past five days. The company announced it has achieved the 'In Process' designation from FedRAMP for its EV charging solutions and expects full compliance by Q3 2024. Analysts have an average 12-month price target of $5.12, with a high of $7 and a low of $4. The stock is currently trading around its 50-day moving average of $2.87, with 20.19% of shares sold short.

Portfolio Pulse from Erica Kollmann

June 17, 2024 | 4:26 pm

ARTNA

Artesian Resources announced that the Delaware Public Service Commission (DEPSC) has approved a settlement agreement involving Artesian Water, DEPSC staff, and the Division of the Public Advocate (DPA). Additionally, DEPSC approved Artesian Water's application to implement a Distribution System Improvement Charge (DSIC) of 0.34%, effective July 1, 2024. This DSIC is subject to periodic audits by DEPSC.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 4:25 pm

GILD

Gilead Sciences Inc's (NASDAQ:GILD) blood cancer drug Magrolimab, acquired through a $4.9 billion buyout of Forty Seven Inc, has shown higher deaths and side effects in halted trials. The drug failed to meet primary endpoints in Phase 3 trials, leading to a negative market reaction.

Portfolio Pulse from Vandana Singh

June 17, 2024 | 4:19 pm

ADBE

The U.S. Federal Trade Commission (FTC) has taken action against Adobe and its executives for allegedly hiding fees and preventing consumers from easily canceling software subscriptions.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 3:27 pm

FXI

KWEB

MCHI

China's housing market continued to decline in May, with manufacturing also falling short of expectations. Despite better-than-expected retail sales, consumer spending remains below pre-pandemic levels. The People's Bank of China maintained a key interest rate for the 10th month to support the yuan. U.S.-traded China ETFs showed mixed performance.

Portfolio Pulse from Michael Juliano

June 17, 2024 | 3:23 pm