Streetbeat News

Regulatory

DISH

SATS

EchoStar Corporation's stock is trading higher following the FCC's approval for the transfer of control of Dish Network and its subsidiaries to EchoStar. This regulatory approval is a significant step in the consolidation process between the two entities, potentially leading to operational synergies and a more streamlined corporate structure.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:47 pm

BMY

Bristol Myers Squibb (NYSE:BMY) shares rose after announcing positive Phase 3 trial results for Opdivo plus Yervoy in treating MSI-H/dMMR metastatic colorectal cancer. The trial met its primary endpoint of progression-free survival. The safety profile was consistent with prior data, with no new safety concerns. The study continues to assess other endpoints. Additionally, the FDA accepted a supplemental application for Opdivo with chemotherapy for urothelial carcinoma, granting Priority Review with a goal date of April 5, 2024.

Portfolio Pulse from Vandana Singh

December 07, 2023 | 5:37 pm

DISH

SATS

Dish Network's stock price has risen following the FCC's approval for the transfer of control of Dish and its subsidiaries to EchoStar.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:30 pm

DISH

SATS

SPY

The FCC has approved the transfer of control of Dish Network and its subsidiaries to EchoStar on December 6. This regulatory approval is a significant step in the transaction between the two entities.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:29 pm

TSLA

The Finnish Transport Workers' Union AKT has announced it will join a Nordic sympathy strike against Tesla, starting a blockade of Tesla vehicles at all Finnish ports on December 20. The action is in support of the ongoing labor dispute involving Tesla.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:16 pm

SLM

SOFI

SPY

The U.S. House of Representatives voted 205-185 to block President Biden's new income-driven repayment plan for both new and existing student loan borrowers. This action could impact companies involved in student financing and loan services.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 5:14 pm

AI

MSFT

NVDA

SEC Chairman Gary Gensler cautioned companies against overstating the impact of artificial intelligence (AI) on their financials, a practice he referred to as 'AI washing'. He emphasized the need for truthful disclosure when raising funds from the public. Gensler also warned about the use of generative AI for fraud. Shares of NVIDIA Corp (NVDA) and C3.ai Inc (AI) have seen significant increases in 2023, while Microsoft Corp (MSFT) invested $10 billion in OpenAI. AI was named Word of the Year by Collins Dictionary for 2023.

Portfolio Pulse from Chris Katje

December 07, 2023 | 5:12 pm

FXI

Moody's Investors Service has instructed its China-based staff to work from home and advised Hong Kong analysts to avoid travel to mainland China. This follows Moody's decision to downgrade China's sovereign credit rating outlook from neutral to negative. The move is seen as a precaution against potential government inspections. The iShares China Large-Cap ETF (FXI) has dropped 3.8% this week, coinciding with Moody's rating action.

Portfolio Pulse from Piero Cingari

December 07, 2023 | 5:02 pm

DOGEUSD

The DOGE-1 Moon Mission, funded by Dogecoin (CRYPTO: DOGE), has received FCC approval and is scheduled to launch on January 12, 2024. The mission will include a Dogecoin-funded satellite developed by Geometric Energy Corporation, which also issues the GEC token. The XI token was used for satellite advertisements. The mission, originally planned for 2022, will be part of a rideshare on the Nova-C/IM-1 mission. GEC and XI tokens have seen significant price surges and trading volume increases.

Portfolio Pulse from Khyathi Dalal

December 07, 2023 | 4:41 pm

LUNA

Do Kwon, creator of TerraUSD, faces potential extradition to the U.S. from Montenegro for alleged fraud and securities law violations related to the $40 billion collapse of TerraUSD and Luna. Montenegro's Justice Minister Andrej Milovic will decide on the extradition after the judiciary reviews Kwon's appeal against the court's decision.

Portfolio Pulse from Murtuza Merchant

December 07, 2023 | 4:35 pm