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HMC

MZDAY

Toyota Motor Corp (NYSE:TM) has agreed to its labor union's requests for salary and bonus increases for the fourth consecutive year, potentially influencing Japan's wage-price cycle. This move, which led to a surge in the yen and a drop in government bond futures, sets a precedent for wage trends in Japan, impacting over 5 million workers. Similar agreements by Honda Motor Co Ltd (NYSE:HMC) and Mazda Motor Corp (OTC:MZDAY) indicate a broader push for wage growth. These developments could prompt the Bank of Japan to reconsider its negative interest rate policy.

Portfolio Pulse from Shivani Kumaresan

March 13, 2024 | 1:10 pm

DUK

KKR

WHR

President Joe Biden's corporate tax overhaul, particularly the 15% Corporate Alternative Minimum Tax (CAMT) introduced in the 2022 Inflation Reduction Act, has impacted major companies like Duke Energy, Whirlpool, KKR & Co, and Blackstone in its first year. Despite the goal to close tax loopholes, the CAMT has faced criticism for its effectiveness. The Treasury Department supports increasing the CAMT rate to 21% and the main corporate tax rate to 28%. Companies have begun disclosing their CAMT liabilities amidst uncertainties and lack of detailed guidelines.

Portfolio Pulse from Vandana Singh

March 13, 2024 | 1:09 pm

VJET

voxeljet announced its decision to voluntarily delist its American Depositary Shares (ADSs) from Nasdaq and to deregister them. Additionally, the company disclosed the restatement and extension of its loan financing agreement with Anzu.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:06 pm

SVFD

Save Foods Inc. has received regulatory approval in California for its 'FieldProtect' pre-harvest product, marking a significant milestone for the company in expanding its market presence in the agricultural sector.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:39 pm

BTCUSD

ETHUSD

SPY

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin dropped due to hotter-than-expected CPI data, with analysts predicting Bitcoin's next key level at $83K. US markets saw movements with Beauty Health and others moving higher, and the Dow jumping over 200 points amid improved investor sentiment. Biden's approval ratings rose, and tech discussions included Nvidia's position and AI challenges. Tesla was highlighted in electric vehicle and general news, with Elon Musk's comments on AI and environmental protests. Disney and TikTok also made headlines in communication.

Portfolio Pulse from Akanksha Bakshi

March 13, 2024 | 12:38 pm

AAPL

AMZN

BOTZ

GOOG

IYW

META

MSFT

NVDA

The European Union Parliament has endorsed the world's first comprehensive AI regulatory framework, categorizing AI technologies based on risk levels. This move positions Europe as a leader in global AI standards and impacts major tech companies like Nvidia, Alphabet Inc, Amazon, Apple, Meta Platforms, and Microsoft, which are heavily invested in AI development. The EU's regulatory efforts also target anti-competitive practices with the Digital Markets Act. Investors can gain exposure to AI through ETFs like BOTZ and IYW.

Portfolio Pulse from Anusuya Lahiri

March 13, 2024 | 12:35 pm

JNJ

U.S. FDA staff reviewers have expressed uncertainty regarding the overall benefit-risk assessment of J&J's Carvykti, casting doubts on its approval prospects.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:35 pm

STWD

Starwood Property Trust, Inc. (STWD) announced a private offering of $400 million in unsecured senior notes due 2029 to finance green and/or social projects. The proceeds may also be used for general corporate purposes, including debt repayment. The offering targets qualified institutional buyers and non-U.S. persons, with the notes not initially registered under U.S. securities laws.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:21 pm

CMND

Clearmind Medicine has received approval from the Israeli Ministry of Health to begin a Phase I/IIa clinical trial for treating Alcohol Use Disorder. This marks a significant step forward in the development of their treatment.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 12:15 pm

IMNN

IMUNON, Inc. (NASDAQ:IMNN) has filed an IND application with the FDA for IMNN-101, a DNA-based vaccine for COVID-19, with Phase 1 human trials expected to start in Q2 2024. The vaccine utilizes IMUNON's proprietary PlaCCine platform and aims to demonstrate superior durability and immune response compared to mRNA vaccines. Preclinical data shows promising results, and the company aims to attract partners for further development.

Portfolio Pulse from Happy Mohamed

March 13, 2024 | 12:07 pm