Streetbeat News

Regulatory

AAPL

META

SPOT

Meta Platforms Inc (NASDAQ:META) has introduced guidelines for small businesses to bypass Apple Inc's (NASDAQ:AAPL) App Store commissions by purchasing ads through a web browser. This move, aimed at avoiding Apple's up to 30% cut from in-app purchases, escalates the rivalry between the two tech giants. Apple's strict policies have been criticized by other companies as well, including Spotify Technology SA (NYSE:SPOT). Meta's ad revenue has been significantly impacted by Apple's privacy changes, with an estimated loss of $10 billion. The new ad purchasing policy will initially apply in the U.S. and expand to other regions later this year.

Portfolio Pulse from Anusuya Lahiri

February 15, 2024 | 7:06 pm

BTCUSD

ETHUSD

SPY

Fed's Waller has reiterated his stance against the need for a Central Bank Digital Currency (CBDC) in the U.S., according to Reuters. This position reflects ongoing debates about the role and necessity of digital currencies in the traditional financial system.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:40 pm

OXY

An Occidental Petroleum executive announced that the Federal Trade Commission's inquiries into the CrownRock deal will delay its closing, now anticipated in the second half of the year, according to Reuters citing a webcast.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:24 pm

LCID

TSLA

Lucid Group, Inc. (NASDAQ:LCID) shares rose over 3% after announcing new pricing for its Lucid Air Pure and Air Touring models, along with a $1,000 charging allowance for customers. The price adjustments make the Air Pure and Air Touring more affordable, with the former now starting at $69,900 and the latter at $77,900. This move comes as Lucid's shares have fallen over 40% in the last six months, a steeper decline than Tesla, Inc. (NASDAQ:TSLA). Additionally, Lucid faces scrutiny from the National Highway Traffic Safety Administration (NHTSA) over a recall remedy for its Air Sedans, with concerns that the software update for the high voltage coolant heater may not be sufficient. Lucid is set to report its Q4 2023 financial results on February 21, 2024.

Portfolio Pulse from Nabaparna Bhattacharya

February 15, 2024 | 6:03 pm

CEG

Constellation has filed for a license renewal with the NRC for its Clinton Clean Energy Center in Illinois, aiming to extend its operation by 20 years, through 2047. This move is part of Constellation's efforts to support carbon-free energy production and the regional economy. The Clinton facility, which powers 800,000 homes, is a key part of Illinois' clean energy future, with the renewal potentially providing 179 terawatt hours of additional carbon-free electricity. The company has also made other investments in clean energy, including acquiring a stake in the South Texas Project and uprate projects in Illinois and Maryland.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:01 pm

CRDL

Cardiol Therapeutics' stock is trading higher following the FDA's Orphan Drug Designation for its lead drug candidate aimed at treating pericarditis.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:00 pm

ETHUSD

On Wednesday, 5,630.24 Ether (ETH) worth approximately $15.9 million was burned, permanently removing it from circulation. This action follows the Ethereum blockchain's EIP-1159 upgrade on August 5, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -5.01% yesterday.

Portfolio Pulse from Benzinga Insights

February 15, 2024 | 6:00 pm

RILY

B. Riley stated that it was not contacted regarding the contents of a report by an author before its publication.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 5:56 pm

SINT

SinTx Technologies has received a notice of allowance for its U.S. patent application 18/062,681, titled 'Antipathogenic Devices and Methods Thereof,' aimed at inactivating viruses, bacteria, and/or fungi. This development marks a significant milestone for the company in expanding its intellectual property portfolio and enhancing its capabilities in antipathogenic technology.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 5:33 pm

EIS

SPY

U.S. Secretary of State Blinken expressed optimism about the possibility of reaching a hostage deal between Israel and Hamas, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 5:19 pm