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Regulatory

HIMS

NVO

Hims & Hers Health (NYSE:HIMS) shares are down 9.9% after Hunterbrook issued a short report alleging the company sells non-FDA approved GLP-1 weight loss drugs and relies on a supplier with ties to fraud and bankruptcy. Hunterbrook has a short position in Hims & Hers Health stock.

Portfolio Pulse from Adam Eckert

June 27, 2024 | 4:01 pm

TM

Toyota Motor Corporation (NYSE:TM) has issued a recall for over 145,000 vehicles due to potential airbag deployment issues and engine debris concerns. Additionally, Toyota's production in May 2024 dropped by 4%, with a significant 22% decrease in China. Despite these challenges, TM shares are trading slightly higher.

Portfolio Pulse from Nabaparna Bhattacharya

June 27, 2024 | 3:52 pm

COP

SPY

Senator Whitehouse is investigating oil companies for potential illegal coordination. This probe could have significant implications for the oil industry and related stocks.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 3:45 pm

SQ

Block CFO and COO Amrita Ahuja discussed the company's stance on regulation, product development, and security measures for Cash App in an interview on Bloomberg TV. She emphasized the company's openness to regulation, focus on shipping more products, and efforts to ensure Cash App's safety and security.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 3:38 pm

MRK

Merck & Company shares are trading lower after the company announced that the FDA declined to approve its Daiichi Sankyo partnered lung cancer drug.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 3:28 pm

MJ

MSOS

SPY

The Biden campaign is emphasizing its marijuana reform policies, highlighting the rescheduling of cannabis from Schedule I to Schedule III and promoting mass marijuana pardons. The campaign contrasts Biden's approach with former President Trump's, criticizing Trump's marijuana policies and lack of reform. The Biden administration's actions are framed as significant federal reforms aimed at correcting historical injustices and facilitating more research into marijuana's medical benefits.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 3:08 pm

BTCUSD

ETHUSD

SOLUSD

VanEck has filed an S-1 registration form with the SEC for a Solana ETF, causing Solana (SOL) to rally by over 6%. This is the first attempt at a Solana ETF in the U.S., following a similar product launch in Canada. The approval of a Solana ETF in the U.S. remains uncertain and may depend on changes in the regulatory landscape.

Portfolio Pulse from Murtuza Merchant

June 27, 2024 | 3:08 pm

GLD

SLV

Gold and silver are trading higher ahead of Friday's PCE data, potentially influenced by regional tensions following an attempted coup in Bolivia, stress test results, and earlier economic data.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 3:02 pm

MSFT

NVDA

SPY

The U.S. has imposed new restrictions on the export of advanced chips to China, which is expected to significantly impact China's AI sector. This move could affect several U.S.-listed companies and ETFs, including NVIDIA (NVDA), Microsoft (MSFT), and the SPDR S&P 500 ETF (SPY). The restrictions aim to curb China's technological advancements in AI by limiting access to critical hardware.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 3:02 pm

GTLB

A critical vulnerability (CVE-2024-5655) in GitLab's Community and Enterprise Editions allows attackers to run pipelines as any user. GitLab has released updates to address this and other high-severity issues. Users are urged to upgrade to the latest versions immediately.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:55 pm