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Regulatory

UTEN

The U.S. Dollar Index (DXY) and U.S. Treasury yields rose due to strong economic data, reducing expectations for a Federal Reserve rate cut. Jobless claims dropped more than expected, and building permits exceeded estimates, while housing starts declined but still beat forecasts. The Philly Fed Manufacturing Index improved but remained in contraction. These indicators suggest a resilient economy, potentially affecting the Federal Reserve's interest rate decisions and providing opportunities in the homebuilder sector.

Portfolio Pulse from Piero Cingari

January 18, 2024 | 3:45 pm

KVYO

The Bear Cave released a report on Klaviyo, Inc. (KVYO), a recent tech IPO valued over $6 billion, highlighting significant data privacy issues, connections of its board to failed stocks, and increasing competition. The report suggests that the company's revenue quality is questionable and that upcoming policy changes by Gmail and Yahoo regarding spam could pose additional challenges.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 3:40 pm

CCTG

Trading for the IPO security CCTG was halted but has now resumed as of 10:35:00 AM ET.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 3:35 pm

FAST

MDC

NVCR

TSM

Fastenal Company (NASDAQ:FAST) reported Q1 earnings of $0.46 per share, surpassing estimates by $0.01, and sales of $1.76 billion, slightly above the $1.75 billion forecast, causing its shares to rise by 7%. Other stocks also moved higher: M.D.C. Holdings (NYSE:MDC) after acquisition news; NovoCure (NASDAQ:NVCR) on FDA acceptance of a therapy application; Taiwan Semiconductor (NYSE:TSM) after strong Q4 results; and others on various positive updates.

Portfolio Pulse from Avi Kapoor

January 18, 2024 | 3:10 pm

NGL

Rep. Mark Green from Tennessee reported selling stock of NGL Energy Partners (NYSE:NGL) valued between $100,001 and $250,000 on January 17, 2024. The shares of NGL Energy Partners were trading up 0.5% at $5.03 at the time of the report. Congressional transactions are monitored under the STOCK Act, which prohibits using non-public information for personal gain and requires prompt disclosure of transactions.

Portfolio Pulse from Benzinga Insights

January 18, 2024 | 3:05 pm

NVCR

NovoCure's stock is trading higher following the FDA's acceptance of their PMA application for TTFields therapy to treat non-small cell lung cancer.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 3:02 pm

AAPL

AMD

AMZN

GOOG

GOOGL

INTC

IRBT

MSFT

QCOM

Intel Corp (INTC) has received a favorable non-binding opinion from Advocate General Laila Medina of the EU's Court of Justice in its antitrust case against the EU. The opinion supports Intel's position that the EU failed to prove Intel abused its market dominance to hinder rivals like AMD. This follows a 2022 ruling that annulled a 2009 European Commission decision which fined Intel for illegal rebates to PC makers. The Commission has reimposed a minor fine on Intel, which Intel is appealing. The article also mentions meetings between EU regulators and executives from other Big Tech companies, including Apple (AAPL), Alphabet (GOOG, GOOGL), and Qualcomm (QCOM), to discuss regulatory compliance. Additionally, the EU is scrutinizing Big Tech mergers, such as Microsoft's (MSFT) support for OpenAI and Amazon's (AMZN) merger with iRobot (IRBT).

Portfolio Pulse from Anusuya Lahiri

January 18, 2024 | 2:49 pm

AAPL

AMZN

BKNG

GOOG

GOOGL

META

MSFT

PINS

SNAP

The European Commission has sent data requests to 17 tech companies, including Apple, Amazon, Microsoft, and Meta, under the EU's Digital Services Act (DSA). These companies, categorized as very large online platforms (VLOP) and search engines, are required to provide information by Feb. 9 about measures taken to allow researcher access to data for EU and national elections and to combat illegal content and goods online. The DSA, effective since last year, mandates stricter actions against illegal content and public security threats. This is part of the EU's efforts to protect user data and promote fair competition, amidst increased antitrust scrutiny of big tech firms.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 2:31 pm

DIS

Trian Fund Management has filed a preliminary proxy statement with the SEC for the nomination of Nelson Peltz and James A. Rasulo to the Disney board. This move indicates an active effort by Trian to influence the governance of Disney, potentially aiming for strategic changes at the company.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 2:19 pm

AAPL

DFS

JPM

NVDA

PLUG

TSLA

The cryptocurrency market saw significant movements with a record $665M Bitcoin transaction and a surge in meme coins after Trump's statement against CBDCs. In the US markets, Discover Financial reported lower Q4 profits, and the Dow fell for the third consecutive session. Trump leads in New Hampshire polls and opposes CBDCs, while Biden seeks Ukraine aid. In tech, TSMC exceeded expectations despite a profit drop, and Apple and Nvidia plan expansions. Tesla faces questions over its pricing strategy, and Rivian introduces leasing options. JPMorgan's CEO met with other bank leaders to discuss fintech competition.

Portfolio Pulse from Akanksha Bakshi

January 18, 2024 | 2:05 pm