Streetbeat News

Regulatory

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The FDA has rescinded its ban on Juul e-cigarettes due to new case law, opening the possibility for federal clearance of Juul products.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 2:44 pm

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) has launched a new cannabis strain 'Purple Churro' in Canada and won two awards at the New York International Spirits Competition. The company is also expanding its U.S. focus to spirits, beer, and food due to federal restrictions on marijuana sales.

Portfolio Pulse from Jelena Martinovic

June 06, 2024 | 2:39 pm

SNOW

VGT

VTI

Snowflake Inc (NYSE:SNOW) is under scrutiny due to data breaches affecting major clients like Santander Bank and Ticketmaster. Hackers claimed to have stolen millions of customer records, and Australian authorities confirmed several compromises. Snowflake acknowledged unauthorized access but found no direct system breach. The stock is trading lower, and investors can gain exposure via Vanguard Total Stock Market ETF (NYSE:VTI) and Vanguard Information Tech ETF (NYSE:VGT).

Portfolio Pulse from Anusuya Lahiri

June 06, 2024 | 2:19 pm

GHBWF

GLASF

Michigan has surpassed California in legal cannabis unit sales, selling 22 million products in March compared to California's 21.3 million. Despite California leading in revenue, high taxes and weak enforcement against illegal sales have hurt its market. Michigan's lower taxes and strong enforcement have boosted its legal market, attracting out-of-state customers. California's cannabis industry faces significant challenges, including rampant illegal operations and environmental damage.

Portfolio Pulse from Patricio Liddle

June 06, 2024 | 2:16 pm

ADBE

Adobe's updated Terms of Service have sparked discussions among traders on social media. The new terms clarify that Adobe may access user content through both automated and manual methods for content review.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 2:11 pm

MRNA

The FDA has selected Moderna's investigational therapeutic mRNA-3705 for the START pilot program, which aims to accelerate the development of treatments for rare diseases. This selection will enhance communication with the FDA and expedite the development of mRNA-3705, which is being investigated for methylmalonic acidemia (MMA).

Portfolio Pulse from Vandana Singh

June 06, 2024 | 1:59 pm

GME

Keith Gill, known as 'Roaring Kitty,' is under scrutiny for his trading activities involving GameStop Corp. (NYSE:GME). Experts argue that Gill is exploiting regulatory gaps, potentially engaging in market manipulation. The controversy has intensified with concerns about his significant short-term position in GameStop options.

Portfolio Pulse from Benzinga Neuro

June 06, 2024 | 1:56 pm

AMZN

GOOGL

MSFT

NVDA

U.S. regulators are launching a broad antitrust investigation into major AI companies, including Amazon (AMZN), Google (GOOGL), Microsoft (MSFT), and Nvidia (NVDA). The probe aims to scrutinize potential anti-competitive practices in the rapidly growing AI sector.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 1:53 pm

MSFT

The Federal Trade Commission (FTC) has initiated an antitrust investigation into Microsoft's recent deal with Inflection AI. The probe focuses on whether Microsoft structured the deal to avoid government antitrust review. Microsoft hired Inflection AI's co-founder and most of its employees and agreed to pay $650 million as a licensing fee.

Portfolio Pulse from Benzinga Newsdesk

June 06, 2024 | 1:46 pm

NVAX

Novavax Inc (NASDAQ:NVAX) shares are trading higher after the FDA's advisory committee recommended updating COVID-19 vaccines to target the JN.1 variant. Novavax plans to deliver the updated vaccine by September and expects commercial sales under Emergency Use Authorization for the 2024-2025 season.

Portfolio Pulse from Adam Eckert

June 06, 2024 | 1:30 pm