Streetbeat News

Regulatory

CVS

ELV

HUM

TSLA

UNH

USO

An Israeli air strike killed a top Iranian general, causing oil prices to rise and impacting stock market sentiment negatively due to inflation concerns. Tesla Inc and several healthcare companies including CVS Health Corp, Elevance Health Inc, UnitedHealth Group Inc, and Humana Inc are facing selling pressure due to disappointing news. Early trade shows negative money flows in major tech stocks and ETFs, while the momo crowd is buying stocks and gold. The United States Oil ETF is popular among oil buyers. Investors are advised to adjust their protection bands in light of these developments.

Portfolio Pulse from The Arora Report

April 02, 2024 | 2:57 pm

EIS

SPY

USO

U.S. Secretary of State Blinken announced efforts to ascertain facts about an Israeli strike on the Iranian Embassy in Damascus, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 2:27 pm

AAPL

AMZN

CRM

META

MSFT

Microsoft Corporation (MSFT) announced the global separation of its Teams app from Office offerings to avoid antitrust fines, impacting rivals like Zoom (ZM) and Slack (CRM). Microsoft's Bing, Edge, and advertising services, along with Apple's (AAPL) iMessage, avoided the EU's Digital Markets Act, unlike Meta Platforms' (META) WhatsApp. The Act forced Apple to make significant operational changes. The FTC is investigating Big Tech's AI investments, focusing on Microsoft, Google, and Amazon.com Inc (AMZN), with concerns over Microsoft's influence on OpenAI.

Portfolio Pulse from Upwallstreet

April 02, 2024 | 2:06 pm

AGR

Avangrid, Inc. (NYSE:AGR), a sustainable energy company, has received the federal Record of Decision for New England Wind, marking a significant step towards federal approval for construction. This project, including New England Wind 1 and 2, aims to provide 2 Gigawatts of power, enough for nearly 1 million homes and businesses. Avangrid is also developing the Vineyard Wind 1 project, delivering power to 30,000 homes in Massachusetts.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:57 pm

DJT

Trump Media and Technology Group (NASDAQ:DJT), which operates Truth Social, reported a loss of $58.18 million in 2023 against revenues of $4.13 million, with interest payments of $39.43 million. An auditor expressed 'substantial doubt' about its ability to continue, impacting its stock value. Despite financial challenges, CEO Devin Nunes claims the company is debt-free with over $200 million in the bank. Shares dropped 21.47% to close at $48.66.

Portfolio Pulse from Benzinga Neuro

April 02, 2024 | 1:51 pm

EWJ

FXI

SPY

U.S. Senators have raised concerns about Nippon Steel's connections with China in the context of a merger case. This development could potentially influence investor sentiment regarding companies and ETFs related to U.S.-China relations and the steel industry.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:48 pm

CNC

CVS

TSLA

UNH

USO

Tesla's stock fell due to disappointing delivery numbers, while oil prices gained amid rising tensions in the Middle East, affecting the United States Oil Fund (USO). Healthcare providers such as Centene Corporation (CNC), CVS Health Corporation (CVS), and UnitedHealth Group (UNH) saw declines following an announcement on Medicare Advantage rates.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:34 pm

AMZN

VCR

XLY

Amazon.com, Inc. (NASDAQ:AMZN) is expanding its AWS free credits program to include models from Anthropic, Meta, Mistral AI, and Cohere, aiming to boost its AI platform, Bedrock's market share. The company has invested $4 billion in Anthropic and offered over $6 billion in credits to startups over the past decade. In partnership with Y Combinator, Amazon is offering $500,000 in credits for AI models and chips. Competitors like Microsoft Azure and Google Cloud are also offering credits for AI models. The FTC has launched an inquiry into generative AI investments due to competitive concerns. Investors can gain exposure to Amazon through ETFs like SPDR Select Sector Fund – Consumer Discretionary (NYSE:XLY) and Vanguard Consumer Discretion ETF (NYSE:VCR). AMZN shares are currently down 1.03% at $179.11.

Portfolio Pulse from Lekha Gupta

April 02, 2024 | 1:33 pm

AAPL

TSLA

UBS

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a market correction, with analysts predicting all-time highs for Bitcoin as its halving event nears. The US and UK are collaborating to regulate and address risks associated with emerging artificial intelligence technologies. In the US, market sentiment is cautious with Wall Street poised for a weak open, influenced by Fed speeches and key data. Internationally, the Russia-Ukraine conflict may reach a stalemate, and China is seen as a preferred ally in Southeast Asia. In tech, Apple unveils a new AI model, and Tesla's China sales offer hope ahead of its Q1 deliveries report. UBS announces a $2B buyback plan amid its Credit Suisse takeover.

Portfolio Pulse from Akanksha Bakshi

April 02, 2024 | 1:28 pm

ABT

Abbott (NYSE:ABT) has received FDA approval for TriClip, a novel device designed for the minimally invasive treatment of tricuspid regurgitation (TR), a condition affecting over 1.6 million people in the U.S. TriClip, which is delivered through a vein in the leg, offers a significant improvement in patients' quality of life by repairing the tricuspid valve without the need for open-heart surgery. Data from the TRILUMINATE Pivotal trial showed a marked improvement in TR grade and quality of life for patients treated with TriClip. This approval expands Abbott's portfolio of structural heart solutions, including the MitraClip for mitral regurgitation, further establishing the company's leadership in minimally invasive heart therapies.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:01 pm