Futu Holdings Stock Slips 4% After It Removes App From China Market

Shares of online brokerages Futu Holdings Limited (FUTU) are slipping over 4% on Tuesday morning after the company announced its decision to remove apps from online stores in China that allow their customers to trade stocks overseas.

FUTU is currently trading at $41.40, down $1.75 or 4.06%, on the Nasdaq, on a heavy volume of 3.5 million shares, above average volume of 1.9 million. The stock opened its trading at $41.75 after closing Monday’s trading at $43.15. The sotck has traded between $28.00 and $72.20 in the past 52-week period.

The company said the decision to remove their apps from Mainland China was in response to the Chinese Securities and Regulatory Commission’s rectification requirements on cross-border securities business.

After the Futubull app is removed from app stores in Mainland China, existing Mainland China clients can still make trades on Futubull, and the relevant services and business will not be affected in any way by the removal.

Northern Oil And Gas Declines After Announcing Pricing Of 6.65 Mln Public Offering

Shares of Northern Oil and Gas, Inc. (NOG) are down more than 5 percent on Tuesday morning trade after the company announced the pricing of its public offering of 6.65 million shares of its common stock. The company’s 199.5 million offering will be closed on May 18.

Northern Oil intends to use the net proceeds from the offering to fund the cash purchase price of its recently announced pending acquisition of certain oil and gas properties, in the Delaware Basin.

Currently, shares are at $30.32, down 5.15 percent from the previous close of $31.96 on a volume of 3,112,133.

U.S. Homebuilder Confidence Unexpectedly Continues To Improve In May

Homebuilder confidence in the U.S. has unexpectedly improved in the month of May, the National Association of Home Builders revealed in a report released on Tuesday.

The report said the NAHB/Wells Fargo Housing Market Index jumped to 50 in May from 45 in April. Economists had expected the index to come in unchanged compared to the previous month.

Homebuilder confidence improved for the fifth straight month, with the housing market index reaching its highest level since hitting 55 in July 2022.

The NAHB said limited existing inventory has put a renewed emphasis on new construction, resulting in the increase in homebuilder confidence even as the industry continues to face several challenges.

The continued advance by the housing market index came amid increases by all three component indices.

The component charting sales expectations in the next six months showed a significant increase, surging to 57 in May from 50 in April.

The index gauging current sales conditions also jumped to 56 in May from 51 in April, while the gauge measuring traffic of prospective rose to 33 in May from 31 in April.

On Wednesday, the Commerce Department is scheduled to release a separate report on new residential construction in the month of April.

Biden, Harris Release Their Financial Disclosure Reports

President Joe Biden and Vice President Kamala Harris have released their annual public financial disclosure reports for FY 2022.

These public filings help to prevent financial conflicts of interest by providing transparency about the assets of government officials.

Information about these finances are reported through annual disclosures, which are reviewed and certified by the independent Office of Government Ethics.

Neither the President nor the Vice President have any conflicts of interest, the White House says.

Biden’s financial disclosure report covers the income of both himself and First Lady Jill Biden. It states the President earned between $2,501 and $5,000 for his 2017 memoir Promise Me, Dad.

As per the report, the Bidens possess assets worth $1.09 million to $2.57 million.

The financial disclosure reports for both Biden and Harris show no change in their sources in income over the previous year.

The President and the Vice President made their financial disclosure reports public in conformity with the Ethics in Government Act of 1978, which requires high-level federal officials to publicly disclose their personal financial interests on OGE Form 278.

Abbott Says FDA Approves Spinal Cord Stimulation Devices To Treat Chronic Back Pain

Abbott Laboratories (ABT) announced Tuesday that the U.S. Food and Drug Administration (FDA) has approved its spinal cord stimulation (SCS) devices for the treatment of chronic back pain in people who have not had or are not eligible to receive back surgery, known as non-surgical back pain.

This labeling expansion was supported by results from the DISTINCT study, which demonstrated that Abbott’s proprietary BurstDR SCS technology improved pain levels, ability to perform daily activities and emotional well-being in people with chronic back pain.

Abbott’s DISTINCT study, which enrolled 270 participants who suffered for an average of 12.8 years with pain, is the largest randomized controlled trial for SCS in people with chronic back pain when surgery is not an option.

Results at six months for the first 200 patients demonstrated clear clinical evidence supporting BurstDR stimulation therapy as an effective treatment for chronic back pain and were sustained at the 12-month follow-up.

This new indication will span across the entirety of Abbott’s SCS portfolio in the U.S., which includes the recharge-free Proclaim SCS family and the rechargeable Eterna SCS platform. All of Abbott’s SCS therapies in the U.S. feature the company’s proprietary, low-energy BurstDR waveform.

Biden, Harris Release Their Financial Disclosure Reports

President Joe Biden and Vice President Kamala Harris have released their annual public financial disclosure reports for FY 2022.

These public filings help to prevent financial conflicts of interest by providing transparency about the assets of government officials.

Information about these finances are reported through annual disclosures, which are reviewed and certified by the independent Office of Government Ethics.

Neither the President nor the Vice President have any conflicts of interest, the White House says.

Biden’s financial disclosure report covers the income of both himself and First Lady Jill Biden. It states the President earned between $2,501 and $5,000 for his 2017 memoir Promise Me, Dad.

As per the report, the Bidens possess assets worth $1.09 million to $2.57 million.

The financial disclosure reports for both Biden and Harris show no change in their sources in income over the previous year.

The President and the Vice President made their financial disclosure reports public in conformity with the Ethics in Government Act of 1978, which requires high-level federal officials to publicly disclose their personal financial interests on OGE Form 278.