Streetbeat News

Regulatory

TSLA

Tesla CEO Elon Musk met with China's President Xi Jinping on Wednesday, where he received support from Xi for Tesla's development in China, according to Tesla's Weibo account.

Portfolio Pulse from Charles Gross

November 16, 2023 | 10:39 am

MSFT

NVDA

Nvidia Corp (NVDA) is capitalizing on the artificial intelligence boom, with CEO Jensen Huang highlighting generative AI's significance at Microsoft Corp's (MSFT) Ignite event. Nvidia reported a $6 billion profit earlier this year due to the AI surge. The company is upgrading its H200 GPU and preparing new chip models H20, L20, and L2 for clients in China, aiming to comply with U.S. sanctions. Despite these developments, NVDA shares dropped by 0.77% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

November 16, 2023 | 10:32 am

LI

MSFT

Microsoft CEO Satya Nadella stated the company is focusing on global markets excluding China, in light of US national security concerns. Microsoft, which has been present in China since 1992 and provides AI services to Chinese firms like Li Auto and Xiaomi, is adhering to US government restrictions. This comes after the US introduced export restrictions on AI chips for China. Nadella mentioned the importance of following US trade, competition, and security policies, and does not see China's manufacturing role for Microsoft's Surface PCs as a major issue unless supply chain disruptions occur.

Portfolio Pulse from Benzinga Neuro

November 16, 2023 | 10:09 am

BMY

The FDA has approved Bristol Myers Squibb's drug Augtyro (Repotrectinib) for the treatment of locally advanced or metastatic ROS1-Positive Non-Small Cell Lung Cancer. This approval could potentially improve the company's product portfolio and market position in cancer treatments.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 8:57 am

CRSP

VRTX

Vertex Pharmaceuticals and CRISPR Therapeutics have received conditional marketing authorization from the UK MHRA for CASGEVY, a CRISPR/Cas9 gene-edited therapy for sickle cell disease and transfusion-dependent beta thalassemia. The treatment is approved for patients 12 years and older who lack a matched stem cell donor, with an estimated 2,000 eligible patients in the UK.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 7:29 am

BLK

U.S. Presidential candidate Vivek Ramaswamy criticized BlackRock's Bitcoin ETF application, calling the investment firm 'a tentacle of the government.' He expressed support for cryptocurrencies and plans to be a pro-crypto president. Ramaswamy sees Bitcoin as an alternative to the Federal Reserve system and views the government as threatened by its popularity. He also criticized regulatory bodies like the SEC, calling them a 'cancer' and 'unconstitutional.' BTC price was up 5.33% at the time of reporting.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 6:27 am

EWA

Australia's unemployment rate for October remained steady at 3.7%, in line with estimates and only slightly higher than the previous month's rate of 3.6%.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 6:25 am

EWA

Australia's employment change for October was reported at 55.0K, significantly surpassing the estimated 20.0K and the previous 7.8K (revised).

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 6:24 am

AAPL

Apple Inc. (NASDAQ:AAPL) is under scrutiny by U.S. lawmakers after the cancellation of Jon Stewart's show on Apple TV+ due to creative differences, allegedly related to content about China. The House Select Committee on Competition with the Chinese Communist Party has requested a meeting with Apple representatives by December 15, 2023, to discuss concerns over potential Chinese interference in Apple's content decisions. The issue arises amid broader worries about Chinese censorship impacting the media industry.

Portfolio Pulse from Benzinga Neuro

November 16, 2023 | 5:43 am

AAPL

BTDR

Apple is expected to allow EU iPhone users to sideload apps, which could increase phishing risks for crypto users, according to blockchain security firms. The move is in response to the EU's Digital Markets Act. Security experts warn of the potential for phishing attacks, asset theft, and password theft. Apple has previously warned about the dangers of sideloading apps. Bitcoin saw a price increase of 3% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

November 16, 2023 | 5:07 am