Streetbeat News

Regulatory

AAPL

META

VGK

EU's competition chief, Margrethe Vestager, announced an investigation into Apple's new fee structure, highlighting concerns over compliance with the Digital Markets Act. While Meta's new fees were also mentioned, Vestager noted the variety of monetization strategies available to Meta and the ongoing assessment to ensure compliance with the Act.

Portfolio Pulse from Happy Mohamed

March 19, 2024 | 6:50 pm

EADSF

EADSY

Boeing Co (NYSE:BA) is currently facing challenges, with discussions on Reddit highlighting its 'too big to fail' status and comparing its situation to historical examples like Citigroup Inc (NYSE:C) and General Motors Co (NYSE:GM). Despite its dominant position alongside Airbus SE (OTCPK: EADSF) (OTCPK: EADSY), Boeing's recovery is uncertain due to production issues and market dynamics.

Portfolio Pulse from Surbhi Jain

March 19, 2024 | 6:40 pm

COCH

Envoy Medical's stock price increased following the announcement that the company has been granted a European patent for its 'Implantable Modular Cochlear Implant System With Communication System And Network.'

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 6:24 pm

HUMA

INTC

SBLK

SSBK

Senator Tommy Tuberville disclosed stock transactions in Southern States Bancshares (SSBK) and Star Bulk Carriers Corp (SBLK), raising concerns over potential conflicts of interest due to his committee assignments. Tuberville's trades, including in United States Steel Corporation (X), Humacyte Inc (HUMA), and Intel Corporation (INTC), have been scrutinized for possible influence from his Senate positions. Despite criticism, Tuberville opposes a ban on Congress members' stock trading, arguing it would deter public service.

Portfolio Pulse from Chris Katje

March 19, 2024 | 6:17 pm

CXW

GEO

SPY

The Supreme Court has allowed a Texas deportation law to stand, marking a significant loss for the Biden administration. This decision could have implications for companies involved in detention and correctional facilities, as well as broader market indices.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 6:13 pm

BTCUSD

Bitcoin experienced a 6.1% decline, trading at $62,620, with 10x Research indicating potential further declines due to ETF flow data, Federal Reserve's stance on interest rates, and macroeconomic factors. The firm also noted a trading signal for Ethereum's price decline as a hedge against Bitcoin. Macro factors like U.S. bond yields, rate cut expectations, and inflation are highlighted as influencing Bitcoin's short-term price, with a volatile price movement of +10% or -10% expected in the next 10 to 20 days. Despite challenges, a rally above $70,000 could signal higher levels for Bitcoin.

Portfolio Pulse from Khyathi Dalal

March 19, 2024 | 6:01 pm

AMC

AMC Entertainment Holdings Inc (NYSE:AMC) shares dropped 2.7% to $4.28 amid general market volatility and ahead of the Federal Reserve's FOMC meeting. The potential for rising interest rates poses a threat to AMC's borrowing costs, profitability, and growth initiatives. The entertainment industry's competitive landscape could also shift unfavorably for AMC due to these financial pressures. Additionally, the article touches on how to buy AMC stock and mentions its 52-week trading range.

Portfolio Pulse from Henry Khederian

March 19, 2024 | 5:32 pm

AAPL

GOOG

META

SOCL

SPMO

Meta Platforms Inc (NASDAQ:META) has reduced the subscription fee for ad-free Facebook and Instagram in Europe to 5.99 euros, down from 9.99 euros, in response to EU privacy laws and the Digital Markets Act (DMA). This move aims to address concerns from privacy activists and antitrust regulators. The company is adapting to the DMA, which restricts personalized ads without user consent. Meta's pricing strategy seeks a balance between EU regulations and providing value. The EU has also targeted other Big Tech companies, including Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) and Apple Inc (NASDAQ:AAPL), for their market practices. META stock is down 0.74% at $493.42. Investors can also gain exposure to META through Global X Social Media ETF (NASDAQ:SOCL) and Invesco S&P 500 Momentum ETF (NYSE:SPMO).

Portfolio Pulse from Anusuya Lahiri

March 19, 2024 | 5:27 pm

BABA

EBIZ

INTC

ONLN

Alibaba Group Holding Limited (NYSE:BABA) is set to unveil the C930, the latest RISC-V processor from its Damo Academy, as part of its strategy to navigate U.S. trade restrictions. The announcement was made at the XuanTie Partner Conference, highlighting the processor's applications in 5G, robotics, and financial services. Additionally, Alibaba introduced an open-source laptop, Ruyi Book, showcasing its commitment to RISC-V technology. The move reflects a broader shift towards RISC-V architecture as an alternative to traditional chip technologies, with Alibaba forming the "Wujian Alliance" to promote RISC-V commercialization. BABA stock has seen a 10% decline last year but traded higher by 0.16% recently.

Portfolio Pulse from Anusuya Lahiri

March 19, 2024 | 5:21 pm

CVX

HES

XOM

Chevron Corporation (CVX) and JX Nippon Oil & Gas Exploration Corporation have signed an MOU to develop the CCS value chain in the Asia Pacific, focusing on CO2 storage. The collaboration aims to evaluate the export of CO2 from Japan to CCS projects in Australia and potentially other countries. In a separate development, Chevron's $53 billion takeover of Hess Corporation (HES) is threatened by Exxon Mobil Corporation (XOM), which has filed for arbitration over Hess's Guyana oilfield stake, claiming the right of first refusal.

Portfolio Pulse from Lekha Gupta

March 19, 2024 | 5:04 pm