Streetbeat News

Regulatory

AAPL

Jefferies research note predicts further declines in Apple Inc.'s (AAPL) iPhone sales in China, despite new releases. Sales dropped 30% year-on-year and are expected to continue falling into 2024. Discounts haven't led to volume growth, and Apple's market share is affected by Huawei's resurgence with its Mate 60 Pro. The U.S. sanctions have led Huawei to develop its own software ecosystem. Apple's sales are also impacted by China's ban on Apple devices for state-backed firms and government departments, contributing to the sales decline.

Portfolio Pulse from Ananya Gairola

January 08, 2024 | 11:54 am

MDT

Medtronic has received CE Mark approval in Europe for its MiniMed 780G system, which includes the Simplera Sync, a disposable continuous glucose monitor that eliminates the need for fingersticks or overtape. This regulatory milestone could enhance Medtronic's product offering in the diabetes care market in Europe.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:47 am

ASLN

ASLAN Pharmaceuticals has received a deficiency notice from Nasdaq due to its stock price not meeting the minimum bid price requirement. The company's shares have closed below the $1 minimum bid price for the last 30 consecutive business days. ASLAN must regain compliance by either maintaining a closing bid price of at least $1 for a minimum of 10 consecutive business days or by implementing a reverse stock split. The company has a compliance period of 180 calendar days to meet the requirement, which can be extended if they meet all other listing standards and provide a written notice of their intention to cure the deficiency.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:46 am

VRSK

Verisk (NASDAQ:VRSK), a data analytics and technology provider, has received approval from the California Department of Insurance for its ISO wildfire mitigation filings. These filings allow insurers to apply specific wildfire mitigation discounts to their rating plans, complying with a CDI regulation. Verisk's proactive engagement with CDI and its position as an industry leader is highlighted by being among the first to have its filings approved.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 11:18 am

FXI

China's President Xi Jinping has committed to intensifying the anti-corruption campaign within key sectors including state-owned enterprises, energy, finance, and infrastructure construction, as reported by Reuters citing state media.

Portfolio Pulse from Charles Gross

January 08, 2024 | 11:11 am

IDCC

InterDigital, Inc. (NASDAQ:IDCC) has been granted an injunction by the Regional Court Munich I against OPPO, Realme, and OnePlus for infringing on its 5G patent. The court ruled that InterDigital acted in accordance with FRAND principles, while the defendants did not.

Portfolio Pulse from Charles Gross

January 08, 2024 | 11:09 am

AMGN

BMY

MRNA

SRPT

VRTX

XBI

The 42nd annual JPMorgan Healthcare Conference begins in San Francisco, with expectations of significant industry discussions, potential deal announcements, and company presentations. Past conferences have influenced M&A activity and stock volatility. Bristol-Myers Squibb, Vertex Pharmaceuticals, Amgen, Sarepta Therapeutics, and Moderna are among the companies presenting. The SPDR S&P Biotech ETF (XBI) has shown varied performance during past conferences, with individual stocks potentially experiencing volatility based on news from the event.

Portfolio Pulse from Shanthi Rexaline

January 08, 2024 | 11:04 am

NVDA

Nvidia is set to launch an AI chip specifically designed for the Chinese market in the second quarter of 2024, according to sources familiar with the matter. This move comes as a strategic step to navigate the complex trade restrictions and maintain its presence in the critical Chinese market.

Portfolio Pulse from Charles Gross

January 08, 2024 | 10:22 am

BA

SPR

Boeing Co. (NYSE:BA) faces a new challenge as the U.S. grounds its 737 Max 9 fleet following an incident with an Alaska Airlines plane where a panel was torn off during ascent. This raises concerns about Boeing's stability and its relationship with supplier Spirit AeroSystems Holdings Inc. (NYSE:SPR). The grounding of 171 planes could delay Boeing's plans to increase its 737 manufacturing pace and impact its ability to sell aircraft. The incident adds to Boeing's recent setbacks, including the 737 Max crashes in 2019, which severely damaged its reputation.

Portfolio Pulse from Pooja Rajkumari

January 08, 2024 | 8:53 am

BTCUSD

The SEC has reissued a warning against FOMO investing in anticipation of potential approval of spot Bitcoin ETFs. The SEC's Office of Investor Education highlighted risks associated with cryptocurrencies, meme stocks, and NFTs. The warning, originally published in January 2021 and reiterated in March 2022, also addresses the impact of celebrity endorsements on investment decisions. The SEC has previously fined celebrities for undisclosed promotional payments, as seen with Kim Kardashian's $1.26 million settlement over Ethereum Max promotion.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 8:49 am