Streetbeat News

Regulatory

AOGO

Trading for AOGO was halted at 12:54:59 p.m. ET due to pending news. Investors should stay tuned for updates as this could impact the stock's short-term performance.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:55 pm

AOGOW

Trading in AOGOW was halted at 12:55:00 p.m. ET pending news. Investors should stay tuned for updates as trading halts can indicate significant upcoming announcements.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:55 pm

AOGOU

Trading for AOGOU was halted at 12:55:00 p.m. ET due to pending news. Investors should stay alert for further updates.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:55 pm

CFG

COF

DCOM

FFWM

HBAN

KBWB

KEY

KRE

WFC

XLF

Bank of America analyst Ebrahim H. Poonawala highlights the varying impacts of the latest Federal Reserve stress test results on different banks. Goldman Sachs was the worst hit with a significant increase in its stress capital buffer, while Huntington saw the most favorable outcome among regional banks. Citigroup and Wells Fargo are expected to handle their changes positively, whereas Citizens Financial Group may face pressure. Regional banks outperformed larger institutions in market reactions.

Portfolio Pulse from Piero Cingari

June 27, 2024 | 4:44 pm

CONN

Conn's shares are trading lower after the company received a delinquency notification letter from Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:29 pm

RIVN

Rivian's CFO announced that the company has over $200 million in regulatory credit sales under contract for 2024. This gives confidence in a meaningful profit opportunity, and the company expects to be EBITDA positive by 2027.

Portfolio Pulse from Benzinga Newsdesk

June 27, 2024 | 4:27 pm

ELAN

Elanco Animal Health (NYSE:ELAN) shares dropped 22.80% due to unexpected updates on FDA approval timelines and labeling for its drugs Zenrelia and Credelio Quattro. Zenrelia's U.S. label will include a boxed warning, potentially slowing adoption. Credelio Quattro faced a delay in its CMC section approval. Despite these setbacks, Elanco raised its Innovation Sales outlook for 2024 and 2025.

Portfolio Pulse from Vandana Singh

June 27, 2024 | 4:25 pm

AAPL

NVDA

Apple faces scrutiny from the EU over App Store policies, potentially violating the Digital Markets Act. Despite legal challenges, Apple's financial performance remains strong, regaining its position as the world's second-largest by market capitalization. Nvidia's stock drop allowed Apple to reclaim this position, though Nvidia is recovering. Apple's stock is up 10% this year, with potential to reach new highs.

Portfolio Pulse from Zaheer Anwari

June 27, 2024 | 4:20 pm

FDIS

TSLA

XLY

Tesla has been ordered by the Bay Area Air Quality Management District to address air quality violations at its Fremont factory. The company must hire a third-party consultant to evaluate the situation and implement recommended changes to prevent harmful emissions. Tesla has faced over 112 violation notices since 2019 and paid a $140,000 fine in 2018 for similar issues. The stock has lost more than 21% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

June 27, 2024 | 4:16 pm

BABA

LLY

NVO

Novo Nordisk (NYSE:NVO) plans to limit initial sales of its obesity treatment Wegovy in China due to high demand and the need to balance global supply. The Chinese market for GLP-1 drugs like Wegovy could reach $5.5 billion by 2030. Novo Nordisk faces competition from Eli Lilly (NYSE:LLY) and local manufacturers seeking to produce generic versions. Wegovy is unlikely to be covered by China's national health insurance, targeting those who can pay out-of-pocket. Currently, Ozempic is available on platforms like JD.com (NASDAQ:JD) and Alibaba's (NYSE:BABA) Tmall.

Portfolio Pulse from Vandana Singh

June 27, 2024 | 4:13 pm