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Regulatory

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

AAPL

GOOGL

U.S. President Joe Biden signed legislation giving TikTok's parent company, ByteDance, 270 days to find new owners or face removal from Apple (AAPL) and Alphabet's (GOOGL) Google app stores in the U.S. This move, part of a $95 million foreign aid package, aims to address security concerns. TikTok CEO Shou Zi Chew announced the platform's intention to fight the legislation, citing freedom of speech and confidence in prevailing against the ban.

Portfolio Pulse from Franca Quarneti

April 24, 2024 | 9:43 pm

IDEX

Ideanomics has received a notice from Nasdaq due to the late filing of its annual report on Form 10-K. This notice is a standard procedure for companies that fail to meet Nasdaq's filing deadlines, potentially affecting the company's stock listing status if the issue is not resolved timely.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 9:33 pm

CSSE

Chicken Soup for the Soul Entertainment (CSSE) received a delinquency letter from Nasdaq for not meeting the filing deadline for its quarterly financial report. This could potentially lead to CSSE being delisted if the issue is not resolved in a timely manner.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 9:20 pm

UTME

UTime Ltd has filed for a mixed shelf offering with the SEC, allowing it to issue up to $500M in securities. This strategic move could provide the company with flexible financing options for future growth, acquisitions, or debt management.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 9:08 pm

CSSE

Chicken Soup For The Soul Entertainment (CSSE) received a Nasdaq delinquency letter for not meeting the required filing deadline for its quarterly financial report. This notice is a procedural step in the Nasdaq listing rules, giving CSSE a grace period to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 9:06 pm

MBOT

Microbot Medical expects to receive 510(K) clearance from the FDA in the first half of 2025 and CE MARK approval in the second half of 2025, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 9:00 pm