Streetbeat News

Legal

AAPL

Apple shares are trading lower following reports that the Department of Justice (DOJ) is preparing to file an antitrust lawsuit against the company.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 2:17 pm

ILMN

Illumina's stock price increased following a European court decision that EU antitrust regulators overstepped their authority by obstructing Illumina's acquisition of Grail.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 1:14 pm

AAPL

NVDA

Jim Cramer suggests Nvidia could be the next target for a DOJ or FTC antitrust lawsuit, following reports of the DOJ preparing to sue Apple for antitrust law violations. The DOJ's focus on tech industry monopolization, as seen in previous actions against Google and Microsoft's attempted acquisition of Activision Blizzard, underscores the government's stance against anticompetitive practices.

Portfolio Pulse from Rounak Jain

March 21, 2024 | 1:13 pm

AAPL

AMZN

COIN

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin are on the rise after the Federal Reserve held rates steady, with predictions of Bitcoin reaching $500K. Amazon is enhancing delivery speeds to compete with Alibaba rivals Temu and Shein. Coinbase is set to introduce futures trading for Dogecoin, Litecoin, and Bitcoin Cash. In the US, market sentiment improves post-Fed decision, and political tensions rise with discussions on Trump's potential return to power. Globally, tensions between the US, China, and Taiwan are highlighted. In tech, Amazon competes in delivery, Apple faces legal challenges, and Meta criticizes Apple's legal evasion. The electric vehicle and healthcare sectors also see significant developments.

Portfolio Pulse from Akanksha Bakshi

March 21, 2024 | 12:42 pm

AAPL

NVDA

Jim Cramer predicts that investors will soon shift their focus from the U.S. Department of Justice's antitrust case against Apple to the company's partnership with Nvidia for the Vision Pro mixed reality headset. This collaboration aims to stream advanced 3D experiences from AI data centers to the Vision Pro, potentially becoming Apple's biggest enterprise revenue stream. Despite the DOJ's lawsuit for illegal iPhone dominance, analysts like Wedbush's Dan Ives believe the case won't significantly impact Apple's business model.

Portfolio Pulse from Rounak Jain

March 21, 2024 | 12:17 pm

BA

Boeing's Chair, Kellner, is scheduled to meet with airline CEOs starting next week amid pressures from airlines following the Alaska MAX accident and ongoing quality issues, according to the Wall Street Journal.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 12:00 pm

ILMN

Illumina's stock price increased following a decision by Europe's top court that EU antitrust regulators overstepped their authority by blocking Illumina's acquisition of Grail.

Portfolio Pulse from Charles Gross

March 21, 2024 | 11:54 am

FTEC

IXN

MSFT

Microsoft Corp (NASDAQ:MSFT) is facing increased scrutiny from U.S. Senators, including Marco Rubio and Mark Warner, over Bing's censorship practices in China, as revealed by a Bloomberg Businessweek investigation. The criticism centers on Bing's compliance with Chinese government censorship demands, filtering content related to human rights, democracy, and more. Human Rights Watch has called for Microsoft to disclose its content removal practices. Additionally, Microsoft executives have been involved in discussions about AI and trade with China, amidst warnings from U.S. lawmakers about technological collaborations. Microsoft stock has seen a 55% increase over the last 12 months, with exposure available through IShares Global Tech ETF (NYSE:IXN) and Fidelity MSCI Information Technology Index ETF (NYSE:FTEC).

Portfolio Pulse from Anusuya Lahiri

March 21, 2024 | 11:12 am

TSLA

Ross Gerber, CEO of Gerber Kawasaki, commented on a trader's significant loss in Tesla stock throughout 2022, emphasizing that gambling is not investing. The trader, Charles Harris, saw his margin account drop from eight figures to six due to Tesla's 69% stock decline, influenced by various factors including supply chain disruptions and Elon Musk's acquisition of Twitter. Gerber advises against margin trading and urges consulting a financial advisor.

Portfolio Pulse from Anan Ashraf

March 21, 2024 | 9:58 am

MSFT

Elon Musk criticized the alliance between Microsoft Corporation (NASDAQ:MSFT) and OpenAI, highlighting Satya Nadella's remarks on Microsoft's independence from OpenAI in terms of IP rights and capabilities. Musk's comments reflect ongoing disputes over OpenAI's direction and Microsoft's control over the AI firm. Musk has accused OpenAI of deviating from its founding principles for profit, while Microsoft's CEO Nadella has refuted claims of controlling OpenAI, emphasizing a non-controlling interest and a commercial partnership.

Portfolio Pulse from Ananya Gairola

March 21, 2024 | 9:32 am