Streetbeat News

Legal

AAPL

Apple Inc. has implemented a 27% commission fee on sales from links clicked in iOS apps, drawing criticism from developers and Ark Invest analyst Andrew Kim. This move, following a partial victory against Epic Games in an antitrust lawsuit, is seen as potentially alienating developers and undermining the court's order, according to Epic Games CEO Tim Sweeney. Critics, including Ruby on Rails creator David Heinemeier Hansson, have labeled Apple as 'Enemy Number 1' for developers, comparing its tactics to past Microsoft practices.

Portfolio Pulse from Rounak Jain

January 23, 2024 | 11:10 am

BMY

GILD

JNJ

LEGN

NVS

TSVT

The FDA has called for a boxed warning on CAR-T cancer therapies due to risks of serious side effects. Companies affected include BMY, GILD, JNJ, LEGN, NVS, and TSVT, which produce these therapies.

Portfolio Pulse from Charles Gross

January 23, 2024 | 10:13 am

BTCUSD

Peter Kambolin, CEO of Systematic Alpha Management, has been sentenced to two years in prison for a 'cherry-picking' crypto scam. He defrauded investors by misallocating profitable trades to his own accounts, ensuring he benefited while investors faced losses. The DoJ highlighted Kambolin's use of the fraudulent funds for a lavish lifestyle, including leasing a beachfront apartment and transferring money to foreign accounts.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 10:04 am

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), visited Auschwitz and declared himself 'aspirationally Jewish' after lighting a candle in memory of Holocaust victims. His visit was part of an event by the European Jewish Association to combat rising antisemitism. Musk has faced criticism for allowing antisemitic hate speech on Twitter, which he owns, and a study found an increase in antisemitism on the platform after he took over.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:48 am

AAPL

Apple Inc. has released watchOS 10.3 update for Apple Watch, focusing on stability and performance without introducing significant new features. The update follows the watchOS 10.2 which improved Siri integration and reinstated the swipe gesture for changing watch faces. Despite a sales pause for two watch models in the U.S. due to a patent infringement ruling, analysts from JPMorgan believe the financial impact on Apple will be minimal. Apple also launched its 2024 Black Unity collection for Apple Watch, iPhone, and iPad.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:34 am

ADM

JNJ

NFLX

The CNN Money Fear and Greed index remained in 'Greed' territory on Monday, with the Dow Jones closing above 38,000 for the first time. Archer-Daniels-Midland's stock fell over 24% due to an investigation into its accounting practices, while Macy's shares rose 3.6% after rejecting a takeover bid. U.S. leading index declined less than expected. Sectors like industrials and real estate gained, while utilities and consumer discretionary fell. Investors are looking forward to earnings from Johnson & Johnson, Procter & Gamble, Netflix, and Verizon.

Portfolio Pulse from Avi Kapoor

January 23, 2024 | 7:33 am

AAPL

MASI

A teenager's life was saved in Peru by the blood oxygen detection feature on an Apple Watch, despite the feature being banned in the U.S. due to a patent dispute with Masimo Corporation. The feature is disabled on new Apple Watch models sold in the U.S. but remains functional on international models and those sold before the ban. Apple CEO Tim Cook expressed gratitude upon hearing the story. The Apple Watch has been noted for its health-alerting capabilities, including previous instances of detecting serious heart conditions and aiding in emergencies.

Portfolio Pulse from Ananya Gairola

January 23, 2024 | 7:12 am

BTCUSD

Su Zhu, co-founder of the defunct hedge fund Three Arrows Capital (3AC), shared his positive prison experience, stating he had the 'best sleep' of his life there. Zhu served a four-month sentence in Singapore for defying a court order. He appreciated the simplicity and routine of prison life, including reading and exercise. Meanwhile, in the U.S., Sam Bankman-Fried, founder of the collapsed FTX exchange, is adapting to the economy of New York’s Metropolitan Detention Center using mackerel as currency. Bitcoin is currently trading at $39,989, down 3.85%.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 5:24 am

AAPL

Apple Inc. has paid a $13.7 million fine to Russia's Federal Antimonopoly Service for alleged abuse of dominant market position related to its in-app payment system. The fine was paid on Jan. 19 and has been transferred to Russia's federal budget. Apple had previously disagreed with the decision but has not commented on the recent payment. This settlement comes amidst ongoing scrutiny of Apple's App Store policies and their impact on developers and competition.

Portfolio Pulse from Ananya Gairola

January 23, 2024 | 4:59 am

UAL

United Airlines CEO Scott Kirby has expressed dissatisfaction with Boeing's handling of quality issues and the ongoing grounding of aircraft. Kirby has discussed the matter with U.S. Transportation Secretary Pete Buttigieg and has been seeking support for a management change at Boeing. The FAA has increased scrutiny on Boeing, and United Airlines has had to cancel flights, affecting thousands of passengers. Despite these issues, United Airlines reported better-than-expected Q4 financial results.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 4:52 am