Streetbeat News

Regulatory

STLA

Stellantis shares are trading higher following President Biden's announcement of tariffs on Chinese electric vehicles (EVs). Additionally, Stellantis and Leapmotor are set to begin sales of budget EVs in nine European countries.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 10:47 am

MNOV

MediciNova has received a notice of allowance for a new patent covering MN-166 (Ibudilast) for the treatment of chlorine-induced acute respiratory distress syndrome. This patent, once issued, is expected to expire no earlier than January 2042, potentially extending the commercial exclusivity of MN-166.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 10:15 am

BABA

BIDU

NVDA

TCEHY

China has reportedly instructed its tech giants, including Alibaba, Baidu, ByteDance, and Tencent, to reduce their reliance on foreign-made chips like those from Nvidia and increase their purchase of domestic AI chips. This directive aims to balance the purchase of local and foreign AI chips for new data centers, posing a challenge for Nvidia, which counts China as a critical market, making up 19% of its data center chip revenue in fiscal year 2023. Despite U.S. export restrictions affecting revenue, Nvidia is developing three new GPUs for China. HSBC Global Research maintains a Buy rating on Nvidia, raising its 12-month price target.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 9:34 am

HLTH

The FDA has issued a warning to Cue Health regarding its Emergency Use Authorized COVID-19 test. The company is reviewing the letter and will respond soon.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 7:53 am

EWG

Germany's Consumer Price Index (CPI) for April remained steady at 2.2% year-over-year, aligning with both the estimates and the previous month's figure.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 6:09 am

BTCUSD

Mark Cuban criticizes the SEC's handling of the Mt. Gox incident and praises Japan's regulatory response. He highlights the SEC's failure to learn from past mistakes and its ineffective approach to protecting investors, contrasting it with Japan's proactive measures.

Portfolio Pulse from Benzinga Neuro

May 14, 2024 | 4:18 am

AMZN

GOOGL

Anthropic, an AI startup backed by Google and Amazon, has launched its Claude chatbot in Europe, aiming to expand its user base and revenue amidst regulatory challenges. The company, founded by former OpenAI employees, is leveraging its cloud-computing partnerships with Amazon and Google to navigate the EU's stringent data usage regulations. Anthropic's focus on responsible and ethical AI, along with its compliance with the EU's AI Act, positions it as a strong competitor in the AI market against rivals like OpenAI and emerging Chinese AI startups.

Portfolio Pulse from Ananya Gairola

May 14, 2024 | 3:02 am

TIRX

Trading for TIRX was halted at 7:50:00 p.m. ET due to pending news. The halt is a regulatory measure awaiting the release of significant information.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 11:50 pm

SHFS

Safe Harbor Financial Services, Inc. (NASDAQ:SHFS) reported a 245% YoY increase in Q1 net income to $2.0 million, up from a net loss of $1.4 million. Revenue slightly decreased to $4.1 million from $4.2 million, while gross profit turned positive to $325,000 from a gross loss of $1.6 million. Operating expenses dropped 35.8% to $3.7 million, and adjusted EBITDA rose 165.3% to $1.1 million. The company's loan book and income significantly increased, with notable loans originated for cannabis facilities. Safe Harbor anticipates increased capital flow with potential cannabis reclassification.

Portfolio Pulse from Nicolás Jose Rodriguez

May 13, 2024 | 11:35 pm

GOOGL

MSFT

NVDA

Senate Majority Leader Chuck Schumer is set to unveil a comprehensive AI 'road map' aimed at guiding the United States in AI research, development, and regulation. This initiative, expected to cost billions of dollars, underscores the government's commitment to maintaining a leadership position in AI technology globally. The plan is anticipated to address various aspects of AI, including ethical considerations, competitiveness, and national security. The announcement has implications for major tech and AI-focused companies, potentially influencing their operations, regulatory compliance, and innovation strategies.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 8:40 pm