Streetbeat News

Regulatory

FSR

KARS

LCID

NIO

RIVN

TSLA

Tesla faced a labor union strike in Sweden, lost a court case against Sweden's postal service, and was excluded from PensionDanmark's investment list due to labor issues. Tesla's China sales dropped year-over-year but increased month-over-month. Lucid Group was removed from the Nasdaq 100 Index and announced changes to its Lucid Air lineup. Nio is considering spinning off its battery unit. Rivian laid off members of its battery-cell development team. Fisker's Ocean SUV was spotted in India, and the company addressed investor concerns over its stock price. The KraneShares Electric Vehicles and Future Mobility Index ETF saw a slight increase on Friday but an overall weekly decline.

Portfolio Pulse from Shanthi Rexaline

December 09, 2023 | 1:58 pm

AAPL

Apple Inc. has shut down the 'iMessage for Android' app Beeper Mini, causing an outage for the service. Users on Reddit and other platforms reported issues with sending and receiving messages, which Beeper cofounder Eric Migicovsky attributed to Apple's actions. Android users will now revert to standard text messaging when communicating with iPhone users. Despite the setback, Migicovsky hints at ongoing efforts to integrate various messaging services into one app, aligning with the EU's Digital Markets Act vision for interoperable messaging services. Apple's resistance to such integration maintains the distinction between iMessage's blue bubbles and standard SMS green bubbles, with RCS support planned for iPhones in 2024.

Portfolio Pulse from Rounak Jain

December 09, 2023 | 5:32 am

AAPL

AMD

CCL

DIS

GOOG

GOOGL

META

MSFT

NCLH

RCL

The U.S. stock market closed its sixth consecutive week of gains, with the S&P 500 reaching its highest level since January 2022. Market sentiment is influenced by anticipated Federal Reserve interest rate cuts in 2024, but strong labor market reports and consumer sentiment have slightly dampened the enthusiasm. The consumer discretionary sector outperformed, led by travel stocks, while the energy sector lagged due to declining oil prices. Alphabet's Google introduced Gemini, an AI challenger to OpenAI, while Apple plans a significant battery boost for the iPhone SE 4. The GTA 6 trailer set new records, and JPMorgan's CEO Jamie Dimon criticized Bitcoin and the crypto industry. AMD was chosen by Meta Platforms and Microsoft for AI chips, challenging Nvidia's dominance. Elon Musk criticized Disney's direction, and a survey pointed to public misunderstandings about the Biden administration's economic policies.

Portfolio Pulse from Piero Cingari

December 08, 2023 | 10:09 pm

FMCC

Rep. Kevin Hern (R-OK) sold shares of Freddie Mac (OTC:FMCC) for a profit of 42.2% to 48.9%, having bought them earlier in the year. This transaction could intensify discussions about banning stock trades by Congress members, especially as Hern previously violated the STOCK Act by not disclosing 2021 transactions. Freddie Mac is under conservatorship since the 2008 financial crisis.

Portfolio Pulse from Chris Katje

December 08, 2023 | 9:32 pm

NYXH

Nyxoah SA (NASDAQ:NYXH) received a transparency notification from Deerfield Partners, L.P., indicating a decrease in their shareholding to 2.99%, crossing below the 3% threshold on November 30, 2023. Deerfield Partners now holds 856,085 shares, representing a decrease from their previous holding of 899,300 shares. The notification includes details of the controlled undertakings and the reason for the notification, which is the disposal of voting securities.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 9:31 pm

CASI

CASI Pharmaceuticals has signed an exclusive one-year distribution agreement with China National Medicines Corporation Ltd. for Pralatrexate for Injection in mainland China, excluding Hong Kong SAR, Taiwan, and Macau, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 9:28 pm

VGK

EU countries and lawmakers are reportedly on the verge of reaching a provisional agreement on artificial intelligence (AI) regulations, with an announcement expected within the next hour, according to sources cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 9:13 pm

ACLX

Arcellx, Inc. (NASDAQ: ACLX) reported positive long-term results from its Phase 1 expansion trial of anito-cel (CART-ddBCMA) for treating relapsed or refractory multiple myeloma. With a median follow-up of 26.5 months, the median duration of response, progression-free survival (PFS), and overall survival rate were not reached. The estimated median PFS is 28 months. The data will be presented at the ASH Annual Meeting on December 11, 2023. Anito-cel showed a 100% overall response rate, with 76% achieving complete response or stringent complete response. The treatment was well-tolerated with manageable adverse events. Arcellx plans to continue enrollment in the iMMagine-1 study and is preparing for commercial launch with partner Kite.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 9:00 pm

ACB

Ronan Levy, President of Safe Supply Streaming Co., discusses the potential mental health benefits of the coca plant and the company's role in supporting legal and regulated drug supply. Safe Supply, listed on the Canada and Frankfurt Stock Exchanges, invests in infrastructure for analyzing, manufacturing, and distributing psychoactive substances. Levy compares the current interest in the coca plant to the past interest in hemp and CBD, suggesting a similar trajectory for policy and industry development.

Portfolio Pulse from Lara Goldstein

December 08, 2023 | 8:46 pm

BLK

BTCUSD

VanEck has amended its filing with the SEC for a spot Bitcoin ETF, proposing the ticker symbol 'HODL'. The VanEck Bitcoin Trust will issue shares in creation baskets, each representing an amount of Bitcoin, with Gemini Trust Company as the custodian. The ETF aims to provide investors with a simple way to gain exposure to Bitcoin. Competitors like BlackRock, Fidelity, and others are also vying to launch similar ETFs, though the SEC has not yet approved any spot Bitcoin ETFs.

Portfolio Pulse from Murtuza Merchant

December 08, 2023 | 8:17 pm