Streetbeat News

Regulatory

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Intellia Therapeutics has informed Regeneron Pharmaceuticals of its decision to opt out of the co-development and co-funding agreement for Factor IX, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:29 pm

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ARKQ

BTCUSD

ARK Investment Management LLC predicts five disruptive technologies (AI, Energy Storage, Robotics, Multiomics, and Public Blockchains) could reach a market value of $220 trillion by 2030. These technologies are expected to drive significant economic growth and productivity. ARK's ETFs, ARKK, ARKQ, and ARKG, track the progress in AI, Robotics, and Genomics, respectively. The report also highlights the potential of cryptocurrencies, especially Bitcoin, to stabilize renewable energy grids and compete with fiat currencies.

Portfolio Pulse from Piero Cingari

March 22, 2024 | 1:26 pm

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Tennessee Governor Bill Lee signed the 'ELVIS Act' into law, aimed at protecting artists from unauthorized AI use of their vocal likeness. This first-of-its-kind law in the U.S. underscores the importance of safeguarding artists' intellectual property amidst the rise of AI technologies. The law, effective July 1, allows civil action against unauthorized AI exploitation of artists' voices or likenesses. It reflects bipartisan support and Tennessee's commitment to its music industry. Meanwhile, Universal Music Group and others are taking legal actions against AI misuse, while some artists explore AI's potential in music production.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 1:22 pm

OTLK

Outlook Therapeutics' stock price increased following the announcement that the European Union CHMP has given a positive opinion on ONS-5010 for treating Wet AMD.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:20 pm

ALK

Major airline executives plan to meet with Boeing's board chair Larry Kellner to discuss recent safety issues, excluding CEO David Calhoun from the talks. The concerns stem from an Alaska Air Group Inc mid-air incident and ongoing production challenges. The decision to bypass the CEO for discussions with Kellner, a former airline CEO, signals potential dissatisfaction with Boeing's leadership. The FAA has emphasized the need for safety and quality improvements at Boeing.

Portfolio Pulse from Shivani Kumaresan

March 22, 2024 | 1:20 pm

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LULU

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin show mixed performance amid a decrease in weekly jobless claims. Ripple's CEO comments on SEC's actions against Ethereum and XRP. Lululemon's weak outlook impacts pre-market session alongside Nike. US political tensions rise with Marjorie Taylor Greene's statements. Taiwan's tech surge and China's investigation into PwC over Evergrande fraud affect the global economy. Apple faces an antitrust lawsuit, while Tesla's Cybertruck production ramps up. Air travel costs are expected to rise due to airlines passing on decarbonization expenses. Various companies face legal and market challenges.

Portfolio Pulse from Akanksha Bakshi

March 22, 2024 | 1:13 pm

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Vodafone U.K. and Three U.K.'s merger faces scrutiny from the Competition and Markets Authority (CMA) over concerns it could lessen competition, potentially leading to higher prices and reduced service quality in the U.K. mobile market. The merger would consolidate 27 million customers and make the combined entity one of the top mobile network operators in the U.K. The CMA's investigation could escalate to Phase 2 unless the companies address these competitive concerns. Vodafone's stock has seen a 22% decline over the past year but is trading higher in premarket.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 1:12 pm

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TSLA

China's President Xi Jinping is set to meet with top U.S. business executives in Beijing, coinciding with the China Development Forum. Attendees may include executives from the National Committee on U.S.-China Relations, the U.S.-China Business Council, and Chubb Ltd. High-profile executives like Apple's Tim Cook and Blackstone's Stephen Schwarzman are expected to attend. The meeting aims to reassure foreign investors amid recent tensions and a decline in foreign investment in China. U.S. tech giants like Apple and Tesla have faced challenges in China due to nationalist policies and domestic competition.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 1:04 pm

BUSE

First Busey Corp's merger with Merchants and Manufacturers Bank Corp has been approved by M&M's shareholders and received all necessary regulatory approvals. The merger is set to complete on April 1, 2024, with plans to subsequently merge their respective bank subsidiaries.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 1:03 pm

AAPL

Apple Inc. is facing a new antitrust lawsuit from the U.S. Department of Justice, which could potentially increase consumer demand for alternative smartphones. Entrepreneur Vivek Ramaswamy discussed the lawsuit's implications, suggesting it could open opportunities for new entrants in the smartphone market. The lawsuit accuses Apple of restricting competitors' access to iPhone hardware and software, marking the third antitrust case against the company in 14 years. Apple has vowed to fight the lawsuit, stating it threatens its innovation capabilities.

Portfolio Pulse from Ananya Gairola

March 22, 2024 | 12:34 pm