Streetbeat News

Regulatory

FXI

NVDA

SPY

The U.S. has implemented new restrictions that are significantly impacting China's leading companies in the semiconductor industry, which were seen as potential rivals to Nvidia. This move is expected to have a substantial effect on the competitive landscape in the semiconductor market.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 3:01 pm

VSTO

The sale of Vista Outdoor's ammunition business to Czech company CSG Group is facing scrutiny from the DOJ's antitrust lawyers and the Committee on Foreign Investment in the U.S. (CFIUS). Concerns include market concentration and national security. The DOJ's antitrust inquiry is in early stages, and the CFIUS review could conclude soon. Vista controls a majority of the U.S. primer market, and the acquisition could lead to greater pricing power for CSG. A competing bidder, MNC Capital, has also made a higher offer for Vista's ammunition business.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 2:56 pm

NVO

Novo Nordisk shares are trading higher following the approval of Wegovy in China.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 2:43 pm

NSC

Norfolk Southern shares are trading lower as the National Transportation Safety Board holds its final meeting to discuss last year's train derailment that released toxic chemicals in East Palestine, Ohio. Additionally, Susquehanna and Wells Fargo have lowered their price targets on the stock.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 2:30 pm

NNE

Nano Nuclear Energy shares have resumed trading, which could indicate a resolution of previous issues or new developments within the company.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 2:24 pm

BRK.A

NVDA

SPY

The Federal Reserve's Bowman suggests a potential rate hike if inflation efforts falter. NVIDIA sees a rebound after a recent sell-off, while Berkshire Hathaway reduces its stake in BYD.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 2:18 pm

NSC

The National Transportation & Safety Board (NTSB) gave a presentation on the recent Norfolk Southern train derailment. The presentation covered the causes, impact, and future safety measures to prevent such incidents.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 2:05 pm

ABBV

AbbVie Inc (NYSE:ABBV) received an FDA Complete Response Letter (CRL) for its Parkinson's disease therapy ABBV-951 due to issues at a third-party manufacturer. The CRL does not cite safety, efficacy, or labeling concerns, nor does it request additional trials. ABBV-951 is already approved in 34 countries. AbbVie's stock was down 0.38% following the news.

Portfolio Pulse from Vandana Singh

June 25, 2024 | 1:58 pm

AZN

AstraZeneca's cancer drug Imfinzi failed to meet the primary endpoint in a Phase 3 trial for early-stage lung cancer but succeeded in a Phase 3 bladder cancer study. The drug showed no new safety concerns and is being investigated in other lung cancer settings. Japan also approved AstraZeneca's Tagrisso for a specific type of lung cancer.

Portfolio Pulse from Vandana Singh

June 25, 2024 | 1:45 pm

IXN

MSFT

TEAM

XLK

ZM

The European Union has charged Microsoft with anti-competitive practices for bundling its Teams app with its Office suite, potentially disadvantaging competitors like Slack and Zoom. Microsoft is attempting to address these concerns by proposing to unbundle Teams from Office products outside Europe. The company faces a potential fine of up to 10% of its annual global revenues if found guilty. Microsoft is also under scrutiny for its $13 billion partnership with OpenAI. Over the last decade, Microsoft has paid $1.71 billion in EU antitrust fines. Microsoft stock has gained over 36% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

June 25, 2024 | 1:36 pm