Streetbeat News

Regulatory

AAPL

Epic Games CEO Tim Sweeney criticized Apple Inc. (AAPL) for blocking Epic Games from competing with its App Store, following Apple's termination of Epic's developer account. This action prevents Epic from introducing its store and Fortnite on iOS in Europe. Sweeney highlighted the impact on future iPhone users and developers. Elon Musk reacted to Sweeney's comments, questioning Apple's decision.

Portfolio Pulse from Ananya Gairola

March 07, 2024 | 3:42 am

IBIT

Major cryptocurrencies, including Bitcoin, Ethereum, and Dogecoin, experienced significant gains, attributed to massive inflows into U.S.-listed spot Bitcoin ETFs, particularly the BlackRock iShares Bitcoin ETF (IBIT), which saw a record $788 million in investments. The global cryptocurrency market cap increased by 0.49%. Federal Reserve Chair Jerome Powell hinted at a potential lowering of interest rates, influencing stock market gains. Analysts predict strong future performance for Ethereum and Bitcoin, highlighting the potential for Ethereum's all-time high post-EIP-1559 upgrade and a Spot ETH ETF approval.

Portfolio Pulse from Mehab Qureshi

March 07, 2024 | 2:50 am

MSFT

A Microsoft Corp engineer discovered that the AI image generator Copilot Designer produces 'disturbing' content, violating responsible AI principles. Despite reporting the issue, Microsoft has not removed the product. The situation raises concerns about misinformation, especially with upcoming elections. Google also faced criticism for its AI image generator, while Microsoft's AI upgrade for 365 received mixed reviews.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 2:31 am

AAPL

NVDA

TSLA

Wall Street veteran Ed Yardeni highlighted vulnerabilities in Apple Inc. (AAPL) and Tesla Inc. (TSLA) among the Magnificent Seven stocks, citing concerns over China's economic slowdown and consumer purchasing patterns. Apple's significant revenue exposure to China and a drop in iPhone sales were noted. Yardeni contrasted this with Nvidia Corp. (NVDA), which is anticipated to benefit from the AI and semiconductor sectors' growth. He expressed a cautious outlook on the market, suggesting the Federal Reserve might not lower interest rates this year.

Portfolio Pulse from Piero Cingari

March 06, 2024 | 10:26 pm

QDEL

QuidelOrtho has received Health Canada approval for its Quidel Triage PLGF test, designed for laboratory use in Canada. This approval marks a significant milestone for the company, allowing it to expand its product offerings in the Canadian healthcare market.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:50 pm

SPY

Fed's Kashkari stated that if the economy continues to be healthy, there would be no reason to cut interest rates, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:48 pm

EXPR

Express, Inc. received a delisting notice from the NYSE, leading to the suspension of its common stock trading after market close on March 6, 2024. The stock will now trade on the OTC Pink Market under the symbol 'EXPR'.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:46 pm

SPRC

SciSparc has been granted a Canadian patent for its technology aimed at reducing opioid use in pain management. This development could position SciSparc as a key player in the pain management sector, potentially impacting its market value and investor interest.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:45 pm

GILD

MRK

Gilead Sciences Inc (GILD) and Merck & Co Inc (MRK) announced successful Phase 2 clinical trial results for their HIV treatment combo of islatravir and lenacapavir, showing a 94.2% rate of viral suppression at 24 weeks. The study compared the efficacy of this combination against Gilead's Biktarvy, with both treatments showing comparable results. The trial will continue through Week 48, with future data presentations planned.

Portfolio Pulse from Vandana Singh

March 06, 2024 | 9:30 pm

AIU

Meta Data Limited (NYSE:AIU) received a non-compliance letter from the NYSE due to its ADS trading price falling below $1.00 over a 30-day period. The company has six months to regain compliance by ensuring its share price and average share price are above $1.00. Failure to comply by the end of the six-month period could lead to suspension and delisting. The ADSs will remain listed and traded on the NYSE during the cure period.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 9:29 pm