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Regulatory

SAVA

Cassava Sciences (NASDAQ:SAVA) issued a statement regarding the indictment of former science advisor Dr. Hoau-Yan Wang for allegedly defrauding the NIH. The company clarified that Dr. Wang and his former university had no involvement in the Phase 3 clinical trials of their lead drug candidate, Simufilam, for Alzheimer's treatment.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 8:00 pm

CCL

FDX

NKE

NVDA

TSLA

WBA

Inflation has reached its lowest level since March 2021, leading to expectations of interest rate cuts by the Federal Reserve. FedEx and Carnival Corp. saw significant stock price increases due to strong earnings, while Walgreens Boots Alliance and Nike experienced sharp declines. Tesla is expected to launch new, lower-cost models soon.

Portfolio Pulse from Piero Cingari

June 28, 2024 | 8:00 pm

CRLBF

A legal battle in San Diego involves the Teamsters Union intervening in a lawsuit challenging California's labor peace agreement (LPA) requirements for cannabis businesses. The lawsuit, filed by Ctrl Alt Destroy, alleges that the LPA infringes on free speech and conflicts with federal labor laws. The Teamsters claim some companies are using 'sham' unions to meet LPA requirements superficially. This case could set a precedent for the cannabis industry in other states with similar labor laws.

Portfolio Pulse from Rolando García

June 28, 2024 | 7:39 pm

BTI

XXII

The Supreme Court has overturned the Chevron doctrine, which required courts to defer to regulators like the FDA on certain legal issues. This decision is seen as a victory for vape manufacturers, who believe it will weaken the FDA's power to regulate tobacco and nicotine products. The FDA has been trying to ban over 1 million vapes, citing public health concerns, but vape companies now see a potential breakthrough in their legal battles.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 7:36 pm

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrency markets are trading down despite unchanged U.S. inflation in May. Bitcoin, Ethereum, and Dogecoin have seen price declines. Notable developments include Bolivia legalizing Bitcoin and Bitcoin-powered Core Blockchain launching an exchange-traded product in Sweden. Analysts predict a bullish trend for Bitcoin by year-end.

Portfolio Pulse from Khyathi Dalal

June 28, 2024 | 7:18 pm

ETHUSD

MATICUSD

USDCUSD

WBD

The first 2024 presidential debate saw Joe Biden struggling, leading to speculation about potential replacements like Gavin Newsom, Kamala Harris, and Michelle Obama. Warner Bros. Discovery (NASDAQ:WBD)-owned CNN aired the debate. Betting odds on Polymarket showed a decline in Biden's chances of winning the election.

Portfolio Pulse from Chris Katje

June 28, 2024 | 6:57 pm

AMZN

PDD

Amazon is planning to launch a bargain store that would utilize the same trade loophole as Temu and Shein, allowing it to import goods without paying certain tariffs. This move could significantly impact the competitive landscape in the e-commerce sector.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 6:42 pm

PHG

The FDA has announced that Philips will correct an issue with its OLA+ ventilator through a software patch. The patch addresses a problem with the ventilation inoperative alarm.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 6:18 pm

ABT

The FDA has announced that Abbott Medical has issued a correction for its HeartMate LVAS System Monitor due to screen issues that could potentially cause an unintentional pump stop.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2024 | 6:10 pm

BTCUSD

ETHUSD

Galaxy Research's Alex Thorn predicts minimal market impact from Mt. Gox Bitcoin distributions and is optimistic about Ethereum ETF inflows. He estimates only 64,000 BTC will be distributed, with minimal immediate selling. Thorn also projects $1 billion monthly inflows for Ethereum ETFs, potentially outperforming Bitcoin ETFs.

Portfolio Pulse from Khyathi Dalal

June 28, 2024 | 6:00 pm