Streetbeat News

Regulatory

GOOG

GOOGL

Google has announced that it will proceed with changes to Chrome's extension system, impacting extensions like uBlock Origin. The changes, part of Manifest V3, will disable Manifest V2 extensions in Chrome Dev, Canary, and Beta builds by June 2024 and in the Chrome Web Store by July 2024. Users of uBlock Origin may switch to Firefox or use a less effective 'Lite' version. The update has been controversial since its announcement in 2018 due to its potential to weaken ad blockers.

Portfolio Pulse from Rounak Jain

November 17, 2023 | 2:00 pm

ADBE

FANG

SIRI

TSM

On CNBC's 'Halftime Report Final Trades,' analysts highlighted Diamondback Energy (FANG), TSMC (TSM), Adobe (ADBE), and Sirius XM (SIRI). FANG was praised for its 10% free cash flow yield and Q3 results. TSMC saw a significant increase in net revenue for October. Adobe's upcoming EU antitrust warning regarding its Figma takeover was noted, and Berkshire Hathaway's purchase of SIRI shares was mentioned. Stock movements for the session were mixed, with FANG and SIRI down, while ADBE was up.

Portfolio Pulse from Lisa Levin

November 17, 2023 | 1:58 pm

SPY

Federal Reserve Vice Chair for Supervision Michael Barr indicated that the adoption of the FedNow Payments System by financial firms will be a lengthy process. His remarks were made at The Clearing House Annual Conference 2023.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:55 pm

MSFT

Microsoft CEO Satya Nadella calls for collective governance of AI, citing risks such as electoral interference and uncontrollable AI advancements. He stresses the need for international cooperation in AI regulation and highlights Microsoft's efforts to protect elections with new technologies like a watermarking system for AI-generated content. The EU has strict AI regulations, and the US is moving towards an executive order for AI safety. Microsoft is also expanding in China and has invested in OpenAI.

Portfolio Pulse from Anusuya Lahiri

November 17, 2023 | 1:48 pm

MRK

The FDA has approved Merck & Co Inc's (NYSE:MRK) Keytruda for first-line treatment of a type of gastric cancer, marking its seventh gastrointestinal cancer indication and 38th overall in the U.S. The approval is based on the Phase 3 KEYNOTE-859 trial, showing Keytruda plus chemotherapy reduced death risk by 22% compared to chemotherapy alone. Merck's shares rose 0.72% in premarket trading.

Portfolio Pulse from Vandana Singh

November 17, 2023 | 1:42 pm

GOVT

Billionaire investor Ray Dalio discussed the transformative impact of AI and its potential socioeconomic consequences, including job displacement and widening wealth gaps. He also warned of the U.S. debt problem and its impact on financial markets, without expecting significant changes from the Federal Reserve. The iShares U.S. Treasury Bond ETF (GOVT) is mentioned as being down nearly 3% year-to-date but showing positive performance in November.

Portfolio Pulse from Piero Cingari

November 17, 2023 | 1:39 pm

AMAT

ASML

KLAC

LRCX

Chipmaking equipment manufacturers like Lam Research and ASML are seeing a surge in revenue from China, which accounts for over 40% of their sales, despite U.S. trade restrictions. Lam Research reported nearly half its revenue from China, while ASML, despite a ban on its most advanced systems, also saw significant Chinese sales. Applied Materials experienced elevated sales in China and anticipates a return to the typical 30% level over time. Industry experts warn that China's strategy to front-load orders may not be sustainable, and stricter export rules could impact future growth. A U.S. criminal investigation into Applied Materials for alleged export violations has raised concerns, affecting its stock and peers like KLA Corp and Lam.

Portfolio Pulse from Anusuya Lahiri

November 17, 2023 | 1:39 pm

RTC

Baijiayun has received a notification from Nasdaq due to the late filing of its 2023 Annual Report. The delay in submitting the required documentation could potentially lead to non-compliance with Nasdaq's listing rules if not addressed in a timely manner.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:31 pm

TEVA

Teva Pharmaceutical Industries Ltd. has announced the approval of a generic version of Forteo in the United States. Forteo, which is used to treat osteoporosis, is a significant product for its original manufacturer, and the introduction of a generic version by Teva could impact the market share and sales of the branded drug.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:31 pm

ECX

ECARX Holdings Inc has entered into a shareholders' agreement with Smart Automobile Co., Ltd to establish a joint venture in China for the development of automotive operating system software, according to an SEC filing dated November 16, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 1:31 pm