Streetbeat News

Regulatory

MSFT

QQQ

Microsoft Corp is considering the future of its AI lab in Beijing due to security concerns and potential national security risks. U.S. lawmakers have warned about the dangers of tech collaboration with China. Debates have included options like relocating or shutting down the lab. Microsoft has taken measures to protect its technology and restrict sensitive research. Despite concerns, Microsoft remains committed to China's digital transformation, with a significant presence in the country. Microsoft stock outperformed Invesco QQQ Trust last year.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 12:17 pm

HSDT

Helius Medical is expanding its stroke clinical program by adding Brooks Rehabilitation Hospital as a second site. The program, starting in January 2024, aims to enroll approximately 40 participants, with full enrollment expected by the end of 2024. The study will use the Portable Neuromodulation Stimulator (PoNS) to assess its effectiveness in treating gait and balance deficits in stroke patients. The results will contribute to the efforts of obtaining U.S. authorization for PoNS under its breakthrough designation for stroke treatment.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 12:05 pm

BTCUSD

Edward Jones' senior investment strategist, Mona Mahajan, views Bitcoin ETFs as a suitable investment for the speculative portion of portfolios, referring to it as 'lottery ticket money'. After a long wait, Spot Bitcoin ETFs have received U.S. regulatory approval and are expected to start trading. Mahajan suggests a diversified portfolio, including sectors like the 'Mag Seven', AI, equal-weighted S&P 493, value and cyclical sectors, and mid- and small-cap sectors. Standard Chartered and Fundstrat's Tom Lee predict significant rises in Bitcoin's value in the coming years.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 11:58 am

C

KBH

NVDA

OXY

QQQ

SPY

U.S. stock futures, including Nasdaq and S&P 500, are up on hopes of tame inflation data. Analysts expect sentiment to improve, especially in an election year. Nvidia (NVDA) closed higher, while the Nasdaq Composite marked its fourth consecutive gain. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) rose in premarket trading. Occidental Petroleum (OXY) gained after Berkshire Hathaway (BRK) increased its stake. KB Home (KBH) fell post-earnings, and Citigroup (C) dropped after disclosing a significant one-time charge. Oil and Bitcoin surged, with Bitcoin ETF approval boosting crypto stocks.

Portfolio Pulse from Shanthi Rexaline

January 11, 2024 | 11:54 am

GOOG

GOOGL

Alphabet Inc.'s Google faces a setback in its attempt to overturn a $2.6 billion EU antitrust fine as EU Court of Justice Advocate General suggests dismissing the appeal. The fine was originally imposed in 2017 for favoring its own shopping services, and Google has been fined a total of $9.5 billion by the EU between 2017 and 2019 for various antitrust violations. Google is reviewing the opinion and continues to invest in its remedy, while the European Commission has initiated a new investigation into Google's digital advertising dominance.

Portfolio Pulse from Rounak Jain

January 11, 2024 | 11:54 am

ANEB

Anebulo Pharmaceuticals has filed a U.S. patent application (No. 20240010617) for crystalline forms of a CB1 modulator, including methods of use and preparation. The patent application could potentially protect the company's intellectual property and strengthen its position in the market for cannabinoid receptor type 1 modulators.

Portfolio Pulse from Charles Gross

January 11, 2024 | 11:42 am

SXTP

60 Degrees Pharmaceuticals has filed a U.S. patent application (#20240009176) for methods to treat respiratory infections using castanospermine analogs. This could indicate progress in their research and development efforts, potentially leading to new treatments for respiratory infections.

Portfolio Pulse from Charles Gross

January 11, 2024 | 11:36 am

AAPL

Apple Inc. (AAPL) has received its third downgrade in January, this time from Redburn Atlantic, which changed its rating from 'buy' to 'neutral' while maintaining a $200 price target. Analyst James Cordwell cited concerns over a potentially weak March quarter and limited growth potential, despite anticipating a rise in iPhone sales in 2024. Regulatory pressures, especially from the EU, could impact App Store earnings and overall profitability. Apple's valuation may have peaked as its P/E ratio surpassed that of Nike for the first time.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 11:27 am

REE

REE Automotive has started delivering its P7-C electric chassis cab to customers after receiving certification from the Federal Motor Vehicle Safety Standards and the Environmental Protection Agency. This marks a significant milestone for the company as it begins to fulfill orders and establish its presence in the electric vehicle market.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 11:09 am

NXU

NXU Technologies has filed a U.S. patent application (#20240010087) for systems and methods related to charging electric vehicles. The patent application details are publicly available through the USPTO. The company's public float is 1,224,282 shares.

Portfolio Pulse from Charles Gross

January 11, 2024 | 10:50 am