Streetbeat News

Regulatory

HOOK

HOOKIPA Pharma has announced the final pivotal Phase 2/3 trial design for HB-200 in combination with pembrolizumab, following alignment with the FDA. This marks a significant step forward in the development of HB-200 for treating patients, potentially impacting HOOK's stock in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 11:24 am

GM

General Motors (NYSE:GM) announced plans to relaunch its autonomous driving unit, Cruise, after a temporary halt due to a robotaxi accident. The company is focusing on building regulator and customer trust, enhancing safety, and expects $1.7 billion in expenses for Cruise this year. Operations have resumed in Phoenix with manual driving to collect road data, aiming for a gradual return to driverless operations. GM is exploring funding options for Cruise, including external investments.

Portfolio Pulse from Anan Ashraf

April 25, 2024 | 11:17 am

SPY

VGK

Belarusian President Lukashenko announced the deployment of several dozens of Russian nuclear weapons in Belarus, stating that any attack on Belarus would prompt an immediate response from Minsk and Moscow with all kinds of weapons, as reported by Reuters citing Russian news agencies Tass, RIA.

Portfolio Pulse from Charles Gross

April 25, 2024 | 9:58 am

MU

Micron Technology has signed a preliminary memorandum with the Biden-Harris Administration for $6.1B in funding under the CHIPS and Science Act. This funding will support Micron's $50B investment in U.S. memory manufacturing in Idaho and New York through 2030, including the construction of three leading-edge memory fabs.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 9:36 am

HRYU

Hanryu Holdings received a delinquency notice from Nasdaq due to a late annual report filing. The company has 60 days to submit a compliance plan, intending to do so by June 17, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:41 am

IBRX

ImmunityBio's QUILT 3.055 trial for ANKTIVA in combination with checkpoint inhibitors shows promising results in NSCLC patients, nearly doubling median overall survival compared to standard chemotherapy. The trial's success across PD-L1 negative and positive participants highlights ANKTIVA's potential as an immune cell enhancer. A meeting with the FDA is scheduled for June to discuss ANKTIVA's registration for NSCLC. Additionally, a $100 million non-dilutive cash infusion upon ANKTIVA's approval will boost the company's cash reserves to $240 million, aiding the launch in NMIBC and supporting its role in future clinical trials.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 6:57 am

AAPL

SPOT

Spotify Technology SA's attempt to update its iOS app in the EU was blocked by Apple Inc. due to non-compliance with App Store rules, specifically the new regulations under the Digital Markets Act. Apple requires apps to accept the terms of the Music Streaming Services Entitlement for EEA storefronts, which Spotify's update failed to do. This comes after Spotify reported a 20% year-over-year increase in revenue for the first quarter of 2024, with significant margin improvements.

Portfolio Pulse from Ananya Gairola

April 25, 2024 | 6:43 am

GOOGL

META

MSFT

ORCL

During Meta Platforms, Inc.'s Q1 earnings call, executives Mark Zuckerberg and Susan Li were cautious about the potential impact of a TikTok ban or sale on the U.S. social media landscape, stating it's too early to assess. The TikTok ban, signed into law by President Biden, has been a topic of significant interest, with TikTok CEO Shou Zi Chew vowing to fight back. Wedbush analysts suggest Meta and Google could benefit from redistributed TikTok revenue, with Meta being the primary recipient.

Portfolio Pulse from Ananya Gairola

April 25, 2024 | 3:29 am

BTCUSD

ETHUSD

Crypto analyst Michaël van de Poppe expressed skepticism about the approval of an Ethereum ETF, citing low chances despite acknowledging the strength of the Ethereum ecosystem. The SEC's scrutiny and a prediction market's low expectation for approval contrast with the optimism surrounding digital assets' future. Meanwhile, Bitcoin's recent ETF approval and the projected success of cryptocurrency ETFs in Hong Kong highlight the growing interest in digital assets, despite some pessimism towards Ethereum's future.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 2:00 am

META

Meta Platforms, Inc. (NASDAQ:META) CEO Mark Zuckerberg announced that over 50% of Instagram content and 30% of Facebook posts are AI-recommended. This statement was part of Meta's Q1 financial results, revealing a 27% revenue increase to $36.45 billion, surpassing estimates. AI has significantly boosted advertiser value, with AI-powered tools revenue doubling. Meta also introduced new user controls and labels for AI-generated content to enhance transparency and user engagement.

Portfolio Pulse from Ananya Gairola

April 25, 2024 | 1:54 am