Streetbeat News

Regulatory

SPY

U.S. Commerce Secretary Raimondo has expressed concerns about China or non-state actors potentially using U.S. cloud services for AI model training. She emphasized that U.S. computing companies should be responsible for identifying their customers, especially those training large AI models.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 6:45 pm

SPY

Commerce Secretary Raimondo announced that the U.S. will propose rules for cloud companies regarding reporting requirements. The rule focuses on identifying users of U.S. cloud services for AI model training.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 6:45 pm

UBER

Uber has filed an appeal against the Paris Mayor's order to exclude VTCs (vehicle for hire services) from operating on Rue de Rivoli and Rue Saint-Antoine, two central streets in Paris. This move comes as part of the city's efforts to reduce traffic and pollution. The exclusion could impact Uber's operations in the city, potentially affecting the company's revenue and market presence in Paris.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 5:19 pm

EIS

SPY

The U.S. State Department has stated that the International Court of Justice's ruling aligns with the U.S. perspective that Israel has the right to take measures to prevent future attacks like those that occurred on October 7. Furthermore, the U.S. maintains its stance that accusations of genocide against Israel are baseless, as reported by Reuters citing a State Department spokesperson.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 5:06 pm

AAPL

OPRA

Opera has announced plans to ship Opera One, a new AI-centric browser with its own engine, following Apple's decision to allow alternative browsers for iOS users. This move comes after Apple's announcement related to the Digital Markets Act (DMA).

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 5:04 pm

MRK

PFE

Pfizer and Astellas Pharma have announced that the European Medicines Agency (EMA) has validated their Type II Variation Application for PADCEV combined with KEYTRUDA for the treatment of advanced bladder cancer. The pivotal trial demonstrated that this combination significantly extended overall and progression-free survival. If approved, it would be the first such combination in the EU to offer an alternative to the current standard platinum-containing chemotherapy for first-line locally advanced or metastatic urothelial cancer.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 5:02 pm

AAPL

META

Apple Inc. (AAPL) has announced an 'Alternative App Store' model for the EU, which includes a 'Core Technology Fee' for developers using third-party app stores or payment providers. This could cost Meta Platforms Inc. (META) and others millions annually. Meta's Threads app alone could result in a $1.089 million yearly fee for over three million downloads, compared to $250 per month if distributed exclusively through the App Store. The EU represents 6% of Apple's App Store revenue, and while Apple may see a decrease in revenue, the impact is expected to be limited.

Portfolio Pulse from Rounak Jain

January 26, 2024 | 5:01 pm

QQQ

SPY

TLT

The December Personal Consumption Expenditures (PCE) price index showed inflation at 2.6% annually, with core inflation at 2.9%, suggesting disinflationary trends. Economists predict the Federal Reserve may cut interest rates, with the current Fed Funds Rate being 2.3% above core PCE, the most restrictive since 2007. Treasury yields rose, causing a decline in bond ETFs like TLT, while stock performance was mixed. SPY and QQQ are aiming for continued positive sessions.

Portfolio Pulse from Piero Cingari

January 26, 2024 | 4:00 pm

HAO

Trading for an IPO security was halted and then resumed for quotation at 10:35 AM ET.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 3:35 pm

MSFT

TSLA

Elon Musk's AI company, xAI, is reportedly in talks to raise $6 billion, potentially valuing it at $20 billion. Morgan Stanley is assisting with the fundraising. xAI, with team members from OpenAI, Google Research, Microsoft Research, and DeepMind, is expanding AI efforts with projects like Grok. The funding could face scrutiny due to geopolitical concerns. Musk's wealth has decreased by $30.9 billion in 2024, but he remains the richest person with a $198 billion net worth. He also plans to increase his Tesla stake to 25% for AI integration.

Portfolio Pulse from Chris Katje

January 26, 2024 | 3:30 pm