Streetbeat News

Regulatory

SPY

The Federal Reserve's latest Monetary Policy Report indicates modest progress on inflation this year but emphasizes the need for greater confidence before considering rate cuts. The labor market resembles the pre-pandemic period, being tight but not overheated. Housing-related inflation pressures are expected to gradually decline.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:03 pm

AAPL

GOOG

Google is attempting to reduce its reliance on Apple's Safari browser, which accounts for 36% of its ad revenue from iPhone searches. A potential court ruling could force Google to stop paying to be the default search engine on iPhones, potentially costing Apple $20 billion annually. Google's revenue from Safari on iPhones is approximately $56 billion, or a quarter of its total search revenue.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

JNJ

Johnson and Johnson (NYSE:JNJ) shares are trending on Friday following positive results from two clinical trials and Health Canada's authorization for RYBREVANT in combination with platinum-based chemotherapy. The company also received an Overweight rating and a $215 price target from Cantor Fitzgerald.

Portfolio Pulse from Dylan Berman

July 05, 2024 | 3:02 pm

GSK

PFE

The FDA is evaluating the potential risk of neural tube birth defects associated with the HIV medicine dolutegravir, which is found in Juluca, Tivicay, and Triumeq. This evaluation could impact companies involved in the production and distribution of these medications.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

JNJ

KMB

PG

A new study reveals that tampons from various brands contain toxic metals like lead and arsenic, posing potential health risks to women. The study, published in Environment International, highlights the need for further research on the health impacts of these metals in menstrual products.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

BYDDY

BYD Co., Ltd. (OTC:BYDDY) is under scrutiny in Thailand for aggressive discounting practices that have led to customer dissatisfaction. The Thai consumer protection agency has received around 70 complaints. BYD's CEO has assured fair future pricing and assistance for affected customers. Additionally, Denza, BYD's premium brand, has unveiled details of its new Z9GT model.

Portfolio Pulse from Nabaparna Bhattacharya

July 05, 2024 | 3:02 pm

F

GM

WKSP

Ford and GM reported strong quarterly sales, driven by increased EV and pickup truck sales. Ford's EV sales grew to 4.4% of its total volume, while GM's EV sales increased by 40% YoY. However, GM faces a $145.8 million penalty for CO2 emissions violations. Worksport is set to release a solar-powered tonneau cover and portable battery system for EVs this summer.

Portfolio Pulse from Upwallstreet

July 05, 2024 | 3:02 pm

PCLOF

PharmaCielo Ltd. (TSXV:PCLO, OTC:PCLOF) reported a 31% year-over-year reduction in net loss for Q1 2024, driven by significant cost-cutting measures. The company also announced the revocation of a cease trade order by the Ontario Securities Commission and a downgrade in its TSX Venture Exchange tier classification.

Portfolio Pulse from Jelena Martinovic

July 05, 2024 | 3:02 pm

JPM

Chase Bank, a division of JPMorgan Chase & Co. (NYSE:JPM), warns customers of potential new charges on bank accounts due to proposed regulations capping overdrafts and late fees. Free services like checking accounts and wealth management tools may soon incur fees.

Portfolio Pulse from Vandana Singh

July 05, 2024 | 3:02 pm

BTCUSD

ETHUSD

The cryptocurrency market has experienced a significant downturn, with Bitcoin and Ethereum seeing sharp declines. Despite this, options traders remain optimistic, particularly for Ethereum. Factors such as Bitcoin miner capitulation and potential short squeezes could stabilize prices. The upcoming Mt. Gox repayment and potential approval of S-1 Forms for crypto-related financial products are also influencing market dynamics.

Portfolio Pulse from Murtuza Merchant

July 05, 2024 | 3:02 pm