Streetbeat News

Regulatory

JOBY

Air taxi startup Joby plans to launch its service in Dubai before the U.S., indicating a strategic move to tap into international markets ahead of domestic operations. This decision could reflect on the company's global market penetration strategy and regulatory navigation.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 5:59 pm

AMRX

TEVA

The FTC has filed an amicus brief in a patent dispute involving Teva and Amneal, aiming to address Teva's alleged patent abuse and promote affordable drugs and generic competition.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 5:56 pm

BIIB

ESALF

ESALY

The European Medicines Agency (EMA) has postponed the Oral Explanation for Biogen Inc and Eisai Co Ltd's Alzheimer's drug, Lecanemab, due to procedural issues. This delay affects the drug's review process, initially expected to conclude by June 30, 2024. The postponement follows a recent court ruling impacting EMA's policy on managing conflicts of interest among its Scientific Advisory Groups. Despite the delay, an approval is still anticipated in the second half of 2024. BIIB shares dropped 1.10% following the news.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 5:44 pm

AAPL

FTEC

IYW

MSFT

The DOJ has filed an antitrust lawsuit against Apple, which analysts believe will be a long process but ultimately not lead to significant changes in Apple's business model. Analysts from Wedbush, Morgan Stanley, and Evercore ISI maintain positive ratings on Apple, citing AI opportunities and the company's strong position despite the lawsuit. The case is part of broader antitrust efforts against Big Tech. Apple's stock has gained over 9% in the last 12 months, and exposure to Apple's stock can also be gained through FTEC and IYW ETFs.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 5:37 pm

HYMTF

Hyundai Motor Co., Ltd. (OTC:HYMTF) and Kia America have initiated a recall of 147,100 vehicles in the U.S. due to concerns with the Integrated Charging Control Unit (ICCU) that may stop charging the 12-volt battery, potentially leading to a loss of drive power and increasing crash risk. Hyundai is recalling 98,878 vehicles, including certain Ioniq and Genesis models, while Kia is recalling 48,232 vehicles, specifically certain EV6 models. This follows a September 2023 recall of over 3.3 million vehicles by both companies due to fire risks. HYMTF shares have fallen 5.76% to $56.51.

Portfolio Pulse from Lekha Gupta

March 22, 2024 | 4:48 pm

GRFS

Grifols shares are trading lower following the CNMV's review of the company's financial reports, which identified deficiencies but no significant errors.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 4:23 pm

SPY

House GOP has requested additional documents from Hawaiian Electric in an ongoing investigation. The probe's details are not specified, but the request indicates a heightened scrutiny of the company's operations or compliance with regulations.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 4:16 pm

AAPL

IWM

LULU

NKE

The article discusses opportunities in small and micro caps, highlighting the iShares Russell 2000 ETF (IWM) and its potential for significant growth. It mentions the Fed's decision to ignore inflation as positive for these caps. It also covers the impact of an antitrust lawsuit on Apple Inc (AAPL), causing a significant market value loss. Additionally, it notes the performance of various companies and ETFs, including Nike (NKE) and Lululemon Athletica (LULU), following earnings reports. The article also touches on China's currency weakening, money flows in major tech stocks, and the performance of gold, oil, and Bitcoin.

Portfolio Pulse from The Arora Report

March 22, 2024 | 4:08 pm

SPY

The U.S. House of Representatives has passed a $1.2 trillion government funding package, which is now being sent to the Senate for approval. This move is crucial for maintaining government operations and could have significant implications for the financial markets.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 3:48 pm

Toyota Industries Corp has committed to a cultural overhaul and leadership restructuring following safety violations, including non-compliance with certification standards. This comes after Toyota Motor Corp (NYSE:TM) halted deliveries of 10 vehicle models due to irregularities in engine horsepower tests by an affiliate. The initiative aims to prioritize legal compliance and enhance transparency, with senior executives refunding part of their salaries. Additionally, Daihatsu Motor Co., another Toyota unit, faced issues with collision safety testing. Toyota Industries received a correction order from Japan's Ministry of Land, Infrastructure, Transport and Tourism in February 2024. Measures to prevent future scandals include increased staffing and management training at Daihatsu.

Portfolio Pulse from Shivani Kumaresan

March 22, 2024 | 3:40 pm