Streetbeat News

Regulatory

AAPL

Apple Inc. (NASDAQ:AAPL) is set to launch an upgraded version of its AirTag in 2025, featuring an advanced chip for superior location tracking. The delay in launch is due to overstock of the first-generation product. Apple is also addressing concerns about AirTag misuse for stalking by collaborating with Google to enhance unwanted Bluetooth tracking notifications.

Portfolio Pulse from Ananya Gairola

May 20, 2024 | 6:18 am

INVA

ZLAB

Zai Lab and Innoviva Specialty Therapeutics have received approval from China's NMPA for XACDURO (Sulbactam-Durlobactam) to treat hospital-acquired and ventilator-associated pneumonia caused by Acinetobacter baumannii-calcoaceticus complex. This approval is based on clinical data showing strong activity against carbapenem-resistant strains.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:40 am

EWT

Taiwan's new president, Lai Ching-te, was sworn in amid rising tensions with China. Lai is expected to maintain the status quo in cross-strait relations and strengthen ties with the U.S. and its allies. Beijing has increased military incursions around Taiwan, viewing Lai as a separatist. The U.S. calls for peaceful resolution of cross-Strait differences.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:27 am

FXI

The People's Bank of China has decided to keep the Loan Prime Rate unchanged at 3.45%. This decision may have implications for various financial markets, including those involving US-listed ETFs with exposure to Chinese markets.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:19 am

FXI

China's Loan Prime Rate (LPR) for 5 years remains unchanged at 3.95% for May. This decision could impact various sectors, including those tracked by the iShares China Large-Cap ETF (FXI).

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 4:19 am

TSM

Lai Ching-te has been inaugurated as the new president of Taiwan, succeeding Tsai Ing-wen. Lai aims to continue Taiwan's policy of de facto independence, strengthen its defenses, and maintain its dominance in the semiconductor industry. Taiwan Semiconductor Manufacturing Co (NYSE: TSM) plays a crucial role in this strategy, producing 90% of the world's most advanced semiconductor chips. Lai's administration will support TSMC's global expansion and address talent shortages as the company builds new fabs in the U.S., Japan, and Germany.

Portfolio Pulse from Benzinga Neuro

May 20, 2024 | 3:19 am

GSIB

JPM

Regulators are considering reducing the proposed capital requirements increase for big U.S. banks, following lobbying efforts led by JPMorgan Chase's CEO Jamie Dimon. This potential change could ease the financial burden on these banks, allowing them more flexibility in lending and investing.

Portfolio Pulse from Shanthi Rexaline

May 19, 2024 | 10:51 pm

TSLA

Elon Musk has criticized President Joe Biden and other 'naysayers' who wish to see Tesla fail. Despite the challenging economic environment and rising competition, Tesla continues to find success in China. The Biden administration's recent 100% tariffs on Chinese EV imports could impact the market dynamics. Tesla's shareholders are set to vote on reapproving Musk's 2018 compensation plan.

Portfolio Pulse from Shanthi Rexaline

May 19, 2024 | 7:55 pm

GTBIG

MSOS

TCNNF

TLRY

VFF

The Justice Department has initiated the process to reclassify marijuana from Schedule I to Schedule III, which could significantly impact the cannabis industry. This move is supported by a majority of American voters and could boost cannabis research. The U.S. cannabis ETF MSOS saw a mixed trading session following the news. Companies like Tilray, Village Farms, GTI, and Trulieve are preparing for potential changes in the market.

Portfolio Pulse from Todd Harrison

May 19, 2024 | 7:24 pm

AAL

ALK

CVX

DAL

HES

This week saw significant political and corporate news, including Chuck Schumer urging the FTC to reconsider the Chevron-Hess merger, and major airlines suing the Biden administration over new fee regulations.

Portfolio Pulse from Benzinga Neuro

May 19, 2024 | 11:00 am