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Regulatory

UBER

Uber Technologies, Inc. (NYSE:UBER) shares fell after being fined €10 million by the Dutch Data Protection Authority for privacy regulation violations. The fine was imposed due to Uber's failure to disclose data retention periods for European drivers and the non-European countries where this data is shared. The DPA also criticized Uber for making it difficult for drivers to access their data, leading to over 170 French drivers complaining to a human rights organization, which escalated the issue to the French data protection authority and then to the DPA.

Portfolio Pulse from Nabaparna Bhattacharya

January 31, 2024 | 4:00 pm

FXI

SPY

The U.S. Department of Defense has added several Chinese companies to its list of entities believed to be affiliated with the Chinese military. The companies newly listed include YMTC, Megvii Technology, Hesai Technology, and NetPosa Technologies, according to a Reuters report citing a U.S. official.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 3:59 pm

BA

Boeing's CFO reported that the company has approximately 35 Max 7s and Max 10s awaiting FAA certification before delivery. Additionally, Boeing ended the quarter with around 60 787 airplanes in inventory, with about 50 needing rework. The rework process is progressing steadily, as stated during the conference call.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 3:50 pm

ALK

BA

Boeing's CEO acknowledged the company's accountability for the recent incident, regardless of the NTSB investigation's findings. He also praised the Alaska Airlines crew's response to the situation, admitting Boeing's responsibility for the problem.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 3:41 pm

UBER

The Dutch Data Protection Authority has imposed a fine of 10 million euros on Uber for violating privacy regulations. The fine relates to Uber's failure to report a significant data breach in a timely manner, as required by law. This breach involved unauthorized access to personal data of millions of customers and drivers.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 3:12 pm

SPY

Investors are focused on the Federal Open Market Committee (FOMC) meeting, with expectations that the Fed will maintain interest rates but may shift to a more neutral stance. Goldman Sachs predicts a rate cut in March and a total of five in 2024, while Bank of America expects a neutral guidance shift. Ed Yardeni warns against too many rate cuts, suggesting two or three would suffice. John Lynch believes a dovish Fed could lead the S&P 500 to new highs. The SPDR S&P 500 ETF Trust (SPY) is being watched closely as it trades near record levels.

Portfolio Pulse from Piero Cingari

January 31, 2024 | 2:33 pm

AAPL

Epic Games has filed a court document accusing Apple Inc. (AAPL) of not fully complying with a court order to allow developers to direct users to alternative payment options outside the App Store. Apple requires developers to apply for 'Link Entitlement' and has limited the use of alternative links to the US iOS and iPadOS App Store. Additionally, Apple has reduced its commission on purchases made through external links to 27% from 30%, but Epic Games disputes Apple's compliance and plans to seek relief from the court.

Portfolio Pulse from Rounak Jain

January 31, 2024 | 2:29 pm

CVM

The European Medicines Agency (EMA) has granted CEL-SCI a waiver for strict pediatric requirements, which facilitates the company's path towards obtaining marketing authorization for its drug Multikine. This waiver is a significant regulatory milestone for CEL-SCI, potentially expediting the process of bringing Multikine to the European market.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:18 pm

CNXA

Connexa Sports Technologies Inc. has announced that it has regained compliance with the Nasdaq's minimum shareholder equity requirement. This follows a period of non-compliance which had put the company at risk of being delisted from the exchange. Connexa's efforts to meet the equity threshold ensures its continued listing on the Nasdaq, providing stability for its investors and shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:08 pm

ACHR

Archer's Midnight aircraft has successfully completed Phase 1 of its flight test program in just three months. The aircraft's battery system has been upgraded with high voltage packs from Archer's San Jose manufacturing line. The program is progressing swiftly towards a full wing-borne transition flight in Phase 2, with FAA 'for credit' testing expected to start later this year.

Portfolio Pulse from Benzinga Newsdesk

January 31, 2024 | 2:05 pm