Streetbeat News

Regulatory

Singapore Airlines has revised its seatbelt sign policies and changed the flight route of SQ321 after a deadly turbulence incident. The incident involved a Boeing 777-300ER and resulted in one fatality and multiple injuries.

Portfolio Pulse from Benzinga Neuro

May 24, 2024 | 8:13 am

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BITW

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FDX

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SEC Chair Gary Gensler did not participate in the decision to approve the first-ever spot Ethereum ETFs in the U.S. The SEC’s Trading and Markets Division approved the forms for several spot Ethereum ETFs from companies like BlackRock, Fidelity, and Grayscale. This decision was made under delegated authority, unlike the approval process for spot Bitcoin ETFs, which involved a vote by the commissioners.

Portfolio Pulse from Aniket Verma

May 24, 2024 | 6:40 am

Guardant Health's Shield blood test for colorectal cancer screening has received a strong recommendation from the FDA advisory committee, paving the way for potential FDA approval. This test offers a convenient, non-invasive screening option and is on track to become the first FDA-approved blood test meeting Medicare coverage requirements.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 6:37 am

GOOG

GOOGL

Google's new AI Overviews feature, part of its Search Generative Experience, has faced backlash for providing inaccurate and sometimes absurd responses. Notable errors include suggesting glue to keep cheese on pizza and incorrectly stating that Barack Obama was the first Muslim President of the U.S. Google has acknowledged these issues and is working to improve the product.

Portfolio Pulse from Ananya Gairola

May 24, 2024 | 6:13 am

NVDA

Nvidia has reduced the prices of its H20 AI chips in China by over 10% to compete with Huawei's Ascend 910B amid increased competition and U.S. sanctions. This move highlights the challenges Nvidia faces in the Chinese market, which contributed 17% of its revenue for fiscal 2024. Despite these challenges, Nvidia continues to adapt its strategy to maintain its presence in China.

Portfolio Pulse from Benzinga Neuro

May 24, 2024 | 6:03 am

HCM

HUTCHMED will present new and updated data from several studies at ASCO 2024, including a Phase II study of fruquintinib combined with sintilimab in endometrial cancer patients. The study showed significant efficacy improvements and a manageable safety profile, supporting a New Drug Application in China.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 5:51 am

ETHUSD

The SEC has approved the first-ever spot Ethereum (ETH) ETFs in the U.S., marking a significant milestone for the cryptocurrency industry. Ethereum's creator, Vitalik Buterin, was inspired to develop decentralized systems after a negative experience with the centralized control in the game World of Warcraft. Ethereum is now one of the most invested projects globally, with a total locked value of over $65 billion and a market cap surpassing major companies like Mastercard and Oracle. ETH is currently trading at $3,800.76, up 1% in the last 24 hours.

Portfolio Pulse from Aniket Verma

May 24, 2024 | 3:54 am

INTU

TSLA

WDAY

Major U.S. indices closed lower on Thursday, with the Dow Jones, S&P 500, and Nasdaq all ending in the red. Boeing, Intuit, Workday, Micron Technology, and Tesla were notable stocks on investors' radars. Boeing's stock fell due to negative cash flow forecasts and delivery delays. Intuit's stock dipped despite strong earnings due to negative cash flow forecasts. Workday's stock rose slightly but had tumbled earlier due to lower forward guidance. Micron's stock remained stable, and Tesla's stock fell as the company ramped up hiring after mass layoffs.

Portfolio Pulse from Benzinga Neuro

May 24, 2024 | 2:16 am

BTCUSD

DOGEUSD

ETHUSD

NVDA

The SEC has approved the first Ethereum spot ETFs in the U.S., leading to mixed reactions in the cryptocurrency market. Ethereum showed slight gains, while Bitcoin and Dogecoin faced declines. The overall market cap dropped by 1.72%. Analyst opinions are mixed, with some expressing confidence in Bitcoin's rebound and others predicting a short-term correction for Ethereum.

Portfolio Pulse from Aniket Verma

May 24, 2024 | 1:50 am

CVX

OXY

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Senate Democrats are investigating claims that former President Donald Trump proposed a deal with leading oil and gas companies to roll back environmental regulations in exchange for $1 billion in campaign contributions. The investigation targets companies like ExxonMobil, Chevron, and Occidental Petroleum, and aims to highlight Trump's industry connections ahead of the November elections.

Portfolio Pulse from Benzinga Neuro

May 24, 2024 | 1:15 am