Streetbeat News

Regulatory

AMZN

Amazon's Twitch has launched a short-form video platform, aiming to compete with TikTok amid its uncertain future in the U.S. due to data privacy and national security concerns. The new feature, Discovery Feed, allows users to browse short clips from longer videos, personalized based on their viewing habits. This move comes as TikTok faces potential sale or ban in the U.S., with its CEO fighting the decision and global leaders also considering bans.

Portfolio Pulse from Ananya Gairola

May 01, 2024 | 9:02 am

TSLA

Tesla Inc.'s stock could see a significant rise if its Full Self-Driving (FSD) software rollout in China is successful, according to Future Fund's Gary Black. The potential increase in Tesla's valuation hinges on whether Tesla sells FSD solely on its vehicles or also secures licensing deals with other Chinese EV makers, and the adoption rate of FSD among Tesla owners in China. Black estimates a 10% adoption rate could add 4 cents to EPS, potentially reaching 48 cents per share if the adoption rate hits 30%, translating to an incremental valuation of up to $24 per share. However, competition from Baidu's Apollo Go and regulatory challenges could impact Tesla's success in the Chinese market. Analyst opinions on the potential impact of FSD in China vary, with some projecting significant revenue and earnings growth for Tesla.

Portfolio Pulse from Shanthi Rexaline

May 01, 2024 | 8:42 am

TXG

The European Unified Patent Court ruled that Curio Seeker does not infringe on 10x Genomics' patent claim, with no expected impact on Curio's business. The decision is appealable, and the main action is still pending.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 7:27 am

BTCUSD

ETHUSD

Crypto analyst Micahël van de Poppe predicts a potential dip in Bitcoin's price to $55,000-$58,000 before a rebound, ahead of the FOMC meeting. The prediction is based on current market trends and the anticipation of an Ethereum ETF hype in May. The market has been in a slow decline, with significant interest in how the FOMC meeting will impact cryptocurrency prices. Bitcoin and Ethereum have seen year-to-date increases of 35.22% and 26.54%, respectively, despite recent declines.

Portfolio Pulse from Benzinga Neuro

May 01, 2024 | 3:04 am

BNBUSD

BTCUSD

Martin Shkreli, known as 'Pharma Bro,' teased Binance co-founder Changpeng Zhao on social media about prison life, following Zhao's sentencing to four months in prison for failing to establish an effective anti-money laundering program at Binance. Shkreli, who was released from prison in 2022, has been known for sharing prison life advice. Zhao's legal issues and his recent sentencing have raised concerns in the cryptocurrency industry, especially as Binance secured a regulatory license in Dubai shortly after Zhao surrendered his voting power in the company. BNB and BTC prices have seen declines in the last 24 hours.

Portfolio Pulse from Benzinga Neuro

May 01, 2024 | 2:14 am

MSTR

Bitcoin's recent downward trend has investors eyeing various catalysts for future movements. Markus Thielen's analysis highlights the evolution of Bitcoin trading, emphasizing the importance of market timing due to diminishing returns and the impact of macroeconomic factors and regulatory developments on Bitcoin's valuation. Key events include the SEC's decision on ETF applications, Federal Reserve meetings, and economic data releases. MicroStrategy Inc. (NASDAQ:MSTR), under Michael Saylor's leadership, plays a significant role in influencing Bitcoin's price through strategic financial decisions, with potential implications from its earnings announcement and the adoption of new accounting guidelines.

Portfolio Pulse from Murtuza Merchant

April 30, 2024 | 11:00 pm

ACB

CGC

MAPS

TLRY

Cannabis stocks experienced significant gains following the DEA's decision to reclassify marijuana from Schedule I to Schedule III, with Canopy Growth Corporation and Aurora Cannabis leading the surge. The move, recommended by the Department of Health and Human Services, has sparked optimism in the market, despite the stocks' history of volatility. Financial performances vary, with Tilray showing strong revenue growth, while Canopy Growth had mixed results. The rescheduling could lead to increased profitability for U.S. cannabis businesses by removing the 280E tax penalty but also introduces potential FDA oversight.

Portfolio Pulse from Nicolás Jose Rodriguez

April 30, 2024 | 10:35 pm

NBIX

Neurocrine Biosciences' stock is trading higher following the FDA's approval of its INGREZZA Sprinkle capsules, a significant development for the company.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 9:56 pm

GEVO

Gevo, Inc. responds positively to the new Argonne National Laboratory GREET model for carbon accounting under the IRA's Section 40B, highlighting its alignment with Gevo's sustainable aviation fuel (SAF) production and climate-smart agriculture practices. The model's adoption supports Gevo's business model and the use of its Verity carbon accounting tool for farmers. Gevo anticipates further guidance on the 45Z SAF tax credit, emphasizing the importance of clear rules for carbon abatement and the role of American farmers in the SAF supply chain.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 9:46 pm

NBIX

Neurocrine Biosciences has received FDA approval for INGREZZA SPRINKLE capsules, a significant development for the company.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 9:46 pm