Streetbeat News

Regulatory

SPY

Fed's Cook acknowledges the rapid changes in the jobs market, indicating potential volatility in economic conditions.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 5:02 pm

AQST

Aquestive Therapeutics Inc (NASDAQ:AQST) released topline pharmacokinetic data for its investigational product Anaphylm, an orally administered epinephrine prodrug for severe allergic reactions. The study showed no significant difference in drug absorption based on temperature and pH changes. The company plans to complete supportive studies and request a pre-NDA meeting with the FDA in Q3 2024.

Portfolio Pulse from Vandana Singh

June 25, 2024 | 5:00 pm

SPY

Fed's Cook acknowledges issues with commercial real estate, particularly for smaller banks. Emphasizes the importance of monitoring the distribution of Fed dots over the median and warns that the path to 2% inflation will be bumpy and uneven.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:57 pm

X

Nippon Steel's $14.9 billion bid to acquire U.S. Steel faces significant opposition from the United Steelworkers union and political figures, including President Biden and former President Trump. The union is concerned about potential job losses and plant closures, despite Nippon's promises. The deal's future is uncertain, with ongoing investigations and political pressure.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:51 pm

SPY

Fed's Cook stated that the Federal Reserve has distinct tools to manage the economy and the financial system. This suggests a nuanced approach to monetary policy and financial stability.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:48 pm

GOOG

GOOGL

META

Bank of America analyst Justin Post maintains Buy ratings for both Meta (price target $550) and Alphabet (price target $200). Meta is favored for its AI advancements and potential benefits from U.S. legislative action against TikTok, while Alphabet is seen as having a revenue and earnings advantage. Both companies face regulatory risks.

Portfolio Pulse from Hayden Buckfire

June 25, 2024 | 4:46 pm

SPY

Federal Reserve Governor Lisa Cook stated that the neutral interest rate, or R-star, is not a key factor for real-time decision-making by the Fed. This suggests that the Fed may rely on other economic indicators for policy decisions.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:44 pm

SPY

Fed's Cook stated that it is challenging to push productivity beyond the long-term average and that it is too early to determine AI's impact on the economy and productivity.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:39 pm

SPY

Fed's Cook expressed no surprise at the variation in monetary policy approaches among central banks. This statement reflects the diverse economic conditions and policy responses globally.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 4:35 pm

GM

General Motors (NYSE:GM) shares are trading lower due to a combination of factors including an increased price target from Wells Fargo, a fine from California regulators over a self-driving vehicle incident, and the withdrawal of GM Financial's deposit insurance application. Additionally, GM Defense announced a new project to provide battery-electric technology for military platforms.

Portfolio Pulse from Nabaparna Bhattacharya

June 25, 2024 | 4:35 pm