Streetbeat News

Regulatory

BMY

TSVT

The FDA's Oncologic Drugs Advisory Committee is set to review Bristol Myers Squibb and 2Seventy Bio's supplemental application for Abecma, aimed at treating triple-class exposed relapsed or refractory multiple myeloma, in a virtual meeting on March 15.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 12:02 pm

COIN

META

Dr. Craig Wright, claiming to be Bitcoin's creator, faces a UK trial to prove he is Satoshi Nakamoto. The trial, starting Feb. 5, could end speculation about Bitcoin's creator. Wright's involvement in Bitcoin SV and the trial's significance for Copa members like Block (SQ), Coinbase (COIN), and Meta (META) are highlighted.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 11:57 am

Toyota Motor Co (NYSE:TM) has clarified its stance on electric vehicles (EVs), stating that while it is not anti-EV, it does not view EVs as the sole solution to achieving carbon neutrality. The company is committed to a diversified strategy that includes battery electric vehicles (BEVs), hybrids, and potentially hydrogen fuel cell vehicles. This comes amid criticism from organizations like Greenpeace for Toyota's slow EV adoption and continued diesel production. Toyota's approach to environmental sustainability and its impact on the EV market share has been a topic of debate.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 11:56 am

AAPL

META

Phil Schiller of Apple Inc. has expressed concerns about the EU's 'Alternative App Store' proposal under the Digital Markets Act, stating it could compromise iPhone users' security and privacy. Despite efforts to mitigate risks, including a notarization process for apps, limitations in user protections and feature access remain. The proposal has also faced criticism from Meta Platforms Inc.'s CEO, Mark Zuckerberg.

Portfolio Pulse from Rounak Jain

February 05, 2024 | 11:46 am

SPY

Peter Schiff criticized Federal Reserve Chair Jerome Powell for downplaying the national debt as a long-term issue, arguing it poses a significant short-term threat. Schiff's comments come amid concerns over the U.S. debt reaching $34.20 trillion and potential economic impacts. The SPDR S&P 500 ETF Trust (SPY) saw a 1.25% increase to $494.3.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 10:26 am

ALTM

BIGC

CYTK

GRPN

LYG

MODG

SAN

U.S. stock futures were lower, with Dow futures down over 100 points. Banco Santander (SAN) and Lloyds Banking Group (LYG) shares fell in pre-market trading after reports that Iranian entities used their accounts to evade U.S. sanctions. Other stocks like Cytokinetics (CYTK), Groupon (GRPN), BigCommerce Holdings (BIGC), KB Financial Group (KB), Topgolf Callaway Brands (MODG), and Arcadium Lithium (ALTM) also recorded losses in pre-market trading.

Portfolio Pulse from Avi Kapoor

February 05, 2024 | 10:21 am

LYG

SAN

Financial Times reported that Iran has been using UK banks Santander UK and Lloyds to covertly move money in an effort to evade sanctions. This revelation could have implications for the banks' operations and regulatory scrutiny.

Portfolio Pulse from Charles Gross

February 05, 2024 | 10:19 am

LYG

SAN

Iranian entities, including the Islamic Revolutionary Guard Corps, reportedly used Lloyds Banking Group PLC (NYSE:LYG) and Banco Santander SA (NYSE:SAN) to evade U.S. sanctions. The banks are under investigation by U.S. authorities for their potential involvement in these transactions. The situation escalates tensions between the U.S. and Iran, amid concerns over Iran's support to Houthi rebels in Yemen.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 7:43 am

SPR

Boeing Co (NYSE:BA) has discovered new quality defects in its 737 MAX airplanes, specifically two mis-drilled holes on the fuselages of around 50 undelivered planes, reported by supplier Spirit AeroSystems (NYSE:SPR). This issue may delay near-term deliveries of the 737 MAX, although the safety of the planes is reportedly not compromised. Boeing plans to conduct additional work on the affected aircraft. This comes amid ongoing challenges for Boeing's 737 MAX planes, including intense scrutiny following a series of safety incidents and a recent production freeze ordered by the FAA.

Portfolio Pulse from Benzinga Neuro

February 05, 2024 | 6:44 am

ICLN

TSLA

Short-seller Jim Chanos criticized Tesla CEO Elon Musk's proposal for a carbon tax as a measure against climate change, labeling Musk as 'Subsidy King' and 'new darling of the Right'. Musk advocates for a carbon tax to combat climate change, citing a $5.3 trillion annual carbon subsidy per the IMF. Chanos, known for his bets against Tesla and Enron, recently closed his hedge fund. The debate highlights differing views on addressing climate change and the role of electric vehicles and renewable energy.

Portfolio Pulse from Shanthi Rexaline

February 05, 2024 | 6:24 am