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PFE

Pfizer and BioNTech have received a positive opinion from the CHMP for their Omicron JN.1-adapted COVID-19 vaccine in the EU. The vaccine is recommended for individuals 6 months and older and is based on data showing improved immune response. Doses will be ready to ship upon authorization by the European Commission.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:31 pm

PRGO

SPY

The U.S. Supreme Court has allowed abortions to be performed in Idaho in cases of medical emergencies for pregnant women, at least for now.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:26 pm

MRK

The FDA has issued a Complete Response Letter (CRL) for the Biologics License Application (BLA) of patritumab deruxtecan, a lung cancer drug developed by Daiichi Sankyo and Merck, due to issues at a third-party manufacturing facility. The CRL did not raise concerns about the drug's efficacy or safety. Merck's stock was down 1.04% following the news.

Portfolio Pulse from Vandana Singh

June 27, 2024 | 2:13 pm

SPY

The Supreme Court has limited the SEC's use of in-house judges in fraud cases, supporting the right to a jury trial for some SEC defendants. This decision could impact the SEC's enforcement capabilities and the broader regulatory environment.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:11 pm

SPY

The Supreme Court has rejected Purdue Pharma's proposed opioid settlement that included legal protections for the Sackler family. This decision could have significant implications for the company's bankruptcy proceedings and the broader pharmaceutical industry.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:06 pm

SPY

The Supreme Court has blocked the Environmental Protection Agency's (EPA) 'Good Neighbor' ozone rule, granting requests from companies and states challenging the regulation.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:02 pm

SPY

Atlanta Fed's Bostic reports that the share of goods rising 5% or more has fallen below 20%. Inflation remains a chief concern, but businesses do not foresee a significant downturn in the job market. The Fed aims to achieve 2% inflation while maintaining a historically tight job market. Service businesses are experiencing eroding pricing power.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:02 pm

SPY

Atlanta Fed's Bostic indicates that inflation is moving in the right direction and suggests a potential interest rate cut in Q4. He has penciled in four quarter-percentage-point rate cuts for 2025, emphasizing the need for patience and certainty that inflation will return to 2% before initiating cuts.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 2:01 pm

COIN

Coinbase has filed lawsuits against the SEC and FDIC for not complying with FOIA requests, accusing them of hindering the crypto industry's access to banking. The lawsuits seek to compel these agencies to release information related to their regulatory actions against the digital-asset industry.

Portfolio Pulse from Murtuza Merchant

June 27, 2024 | 1:57 pm

BTCUSD

Wang Yang, Vice President of HKUST, criticized China's ban on cryptocurrency mining, calling it a missed opportunity that has benefited the U.S. with $4 billion in tax revenue. He suggested alternative solutions and highlighted the need for Hong Kong to play a more proactive role in the digital asset ecosystem.

Portfolio Pulse from Murtuza Merchant

June 27, 2024 | 1:53 pm