Streetbeat News

Regulatory

T

AT&T CEO John Stankey has called on Congress to empower regulators to require big tech firms to contribute to a government fund that subsidizes access to telecom services.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:03 pm

SPY

Fed's Daly suggests that if inflation gradually declines and the labor market rebalances slowly, the Fed can normalize policy over time. The goal is to restore price stability without causing economic disruption. Recent inflation data is more encouraging, but it's uncertain if sustainable price stability is achievable. Restrained demand, rather than improved supply, is likely needed to reach the 2% inflation goal.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:02 pm

SPY

Fed's Daly indicates significant progress on inflation but emphasizes that more work is needed. She highlights the conditional nature of policy, suggesting that if inflation falls slowly, rates will stay high longer, but if inflation drops quickly or the labor market weakens, rates may be lowered.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 6:01 pm

AVO

EWW

SPY

Mexico and the U.S. have reached an agreement to restart avocado inspections, allowing U.S. avocado exports to resume. This development is expected to positively impact companies and ETFs related to avocado production and trade.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 5:42 pm

NVO

Novo Nordisk's Ozempic (Semaglutide) 1mg shows reduced risk of kidney disease-related events in Phase 3 FLOW trial. The label extension application has been accepted for FDA review, demonstrating superiority over placebo for all secondary outcomes. Fewer serious adverse events were reported in the Semaglutide group, though there were more discontinuations than placebo.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 5:35 pm

MRK

Merck KGaA has decided to discontinue its Phase III trials of xevinapant in locally advanced head and neck cancer due to an interim analysis indicating the trial would not meet its primary objective. This decision affects both the TrilynX and X-Ray Vision studies.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 5:04 pm

IYE

XLE

XOM

Exxon Mobil Corporation (NYSE:XOM) has partnered with Air Liquide (OTC:AIQUF) to produce low-carbon hydrogen and ammonia at its Baytown, Texas facility. The project aims to develop a low-carbon hydrogen market along the U.S. Gulf Coast, with Air Liquide constructing and operating four Large Modular Air separation units. The final investment decision depends on favorable government policies and regulatory permits. XOM shares are up 2.94% at $114.02.

Portfolio Pulse from Lekha Gupta

June 24, 2024 | 5:02 pm

ARGX

Argenx SE (NASDAQ: ARGX) saw its stock rise by 12% following FDA approval of its drug Vyvgart Hytrulo for treating chronic inflammatory demyelinating polyneuropathy (CIDP). The drug, which is the first neonatal Fc receptor blocker approved for CIDP, showed significant clinical improvement in patients. The company projects substantial revenue growth from this approval.

Portfolio Pulse from Vandana Singh

June 24, 2024 | 4:43 pm

BTCUSD

ETHUSD

Bernstein analysts suggest that if election sentiment shifts more Republican, crypto could become a primary 'Trump trade.' They highlighted recent outflows from Bitcoin ETFs and concerns over the upcoming Ethereum ETF launch. Bitcoin ETFs have seen substantial success but are currently experiencing outflows. Ethereum ETFs are expected to have a limited initial impact. The analysts see potential for crypto under a Republican presidency and view current market weakness as an opportunity.

Portfolio Pulse from Murtuza Merchant

June 24, 2024 | 4:38 pm

MSFT

SPY

A White House official has stated that the deal between G42 and Microsoft is positive as it involves cutting off ties with Huawei.

Portfolio Pulse from Benzinga Newsdesk

June 24, 2024 | 4:19 pm