Streetbeat News

Regulatory

BIDU

MSFT

NVDA

Baidu Inc. has shifted from using NVIDIA Corporation's AI chips to Huawei's, placing an order for 1,600 chips worth approximately $61.83 million. Microsoft Corporation temporarily blocked employee access to OpenAI's ChatGPT over data security concerns. OpenAI's GPT-4 upgrade has seen higher than expected usage, with plans to expand access to all subscribers. Former President Barack Obama emphasized the need for deliberate AI regulation. Elon Musk criticized the Microsoft-OpenAI partnership, suggesting Microsoft has significant control over ChatGPT.

Portfolio Pulse from Benzinga Neuro

November 12, 2023 | 4:00 pm

BBIO

BridgeBio Pharma, Inc. (NASDAQ:BBIO) presented additional Phase 3 data from its ATTRibute-CM study of acoramidis for transthyretin amyloid cardiomyopathy at the AHA Scientific Sessions 2023. The study met its primary endpoint with a Win Ratio of 1.8 and a p-value of <0.0001. The Kaplan-Meier curves showed a rapid and sustained clinical benefit, and acoramidis was well-tolerated with no safety concerns. BridgeBio plans to file an NDA with the FDA by the end of 2023.

Portfolio Pulse from Charles Gross

November 12, 2023 | 3:43 pm

LLY

NVO

Novo Nordisk's (NYSE:NVO) weight loss drug Wegovy has been shown in a clinical trial to significantly reduce the risk of serious heart complications by 20% in obese individuals without diabetes. The Select study's results could lead to broader insurance coverage and increased usage of Wegovy, potentially maintaining Novo Nordisk's lead over Eli Lilly (NYSE:LLY), whose weight-loss drug Zepbound was recently approved in the U.S. Despite some participants discontinuing Wegovy due to gastrointestinal issues, the drug also showed a 73% reduction in progression to diabetes.

Portfolio Pulse from Benzinga Neuro

November 11, 2023 | 9:34 pm

BAC

JPM

VFH

WFC

XLF

Customers of JPMorgan Chase & Co (JPM) and Citigroup Inc (C) have experienced sudden account closures, leading to frustration and accusations of discrimination. The closures are part of a security effort to deter criminal activities, but have also affected legitimate customers. JPMorgan acknowledges the potential frustration, while Citibank has not commented on individual cases. The issue has raised concerns about secretive banking practices and an increase in suspicious activity reports filed by banks.

Portfolio Pulse from Bibhu Pattnaik

November 11, 2023 | 6:09 pm

BLK

Hong Kong is considering the introduction of cryptocurrency ETFs as part of its initiative to become a central hub for digital assets in Asia-Pacific. This move, discussed in the context of the upcoming Benzinga's Future of Digital Assets conference, is seen as a way to mainstream digital currencies. BlackRock Inc. (NYSE:BLK) is mentioned in relation to the potential approval of the first U.S. spot ETFs for Bitcoin, which has doubled in value this year.

Portfolio Pulse from Murtuza Merchant

November 11, 2023 | 2:24 pm

ABNB

COIN

DIS

PLUG

TSLA

The stock market saw gains with the S&P 500 up 1.3%, Dow Jones up 0.7%, and Nasdaq up 2.4% over the past week. Moody's revised the U.S. credit outlook to negative. Bullish views include Tesla's expected rally, Disney's profitability rebuild, and Dogecoin's potential surge to 20 cents. Bearish news includes Plug Power's liquidity concerns, Airbnb's tax evasion issues in Italy, and Coinbase's regulatory troubles in Kazakhstan.

Portfolio Pulse from Michael Cohen

November 11, 2023 | 2:04 pm

META

Meta Platforms Inc. (NASDAQ:META) has introduced a paid, ad-free version of Facebook and Instagram in Europe due to new privacy regulations. The subscription is priced at around $20 per month, with an additional fee for extra linked profiles starting March 1. This move is in response to changing laws and offers users a choice between an ad-free experience or the standard free version with personalized ads. The ad-free service is for users 18 and older, and there are no plans to integrate ads into WhatsApp, another Meta-owned platform.

Portfolio Pulse from Benzinga Neuro

November 11, 2023 | 9:18 am

AAPL

Apple Inc. (AAPL) is reportedly preparing for app sideloading on iPhones with its latest iOS 17.2 update, potentially in compliance with the EU's Digital Markets Act. The update includes a new 'Managed App Distribution' framework that could allow third-party app stores, although it may be region-locked to where legally required. This move could impact Apple's App Store business model.

Portfolio Pulse from Rounak Jain

November 11, 2023 | 5:59 am

AAPL

AMZN

Apple Inc. (AAPL) has reportedly made a special arrangement with Amazon.com Inc. (AMZN) to ensure a cleaner presentation of its products on Amazon's website, with fewer ads for competing products displayed on Apple's product pages. This agreement, stemming from a 2018 deal allowing Apple to sell directly on Amazon, was highlighted in an internal email from Amazon's then-retail CEO, Jeff Wilke. The FTC is currently suing Amazon for using 'irrelevant junk ads' to increase ad revenue, a practice allegedly initiated by founder Jeff Bezos.

Portfolio Pulse from Rounak Jain

November 11, 2023 | 3:00 am

BLK

BlackRock (NYSE:BLK), the world's largest asset manager, is reportedly 'increasingly confident' that the SEC will approve its spot Bitcoin ETF by January 2024. A former BlackRock manager suggested that such approval could lead to $200 billion flowing into Bitcoin markets, potentially raising Bitcoin's price to $330,000. The SEC is expected to decide on twelve ETFs by November 17, with experts predicting a 90% chance of approval by January 10, 2024. Additionally, BlackRock has registered an iShares Ethereum Trust, indicating a possible future application for a spot Ethereum ETF.

Portfolio Pulse from Benzinga Neuro

November 11, 2023 | 2:50 am