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In the ongoing antitrust trial against Alphabet Inc.’s Google, defense expert Mark Israel testified that Google faces competition from a range of online entities beyond just common search engines, including Amazon, Expedia, Yelp, and General Motors. Israel argued that Google's competition varies based on the nature of the user's query. The Justice Department has accused Google of unlawfully maintaining dominance over the search engine and advertising market.

Portfolio Pulse from Benzinga Neuro

November 07, 2023 | 3:25 am

BTCUSD

US lawmaker Rep. Tim Burchett has proposed an amendment to the Financial Services and General Government bill to reduce the salary of SEC chair Gary Gensler to $1 per year and defund the regulator. The move is part of a broader effort to reduce government spending and curtail regulatory overreach. The SEC has been criticized for excessive regulation and lack of proper cost-benefit analysis in its rulemakings. Bitcoin price is slightly down.

Portfolio Pulse from Mehab Qureshi

November 07, 2023 | 3:16 am

EIS

SPY

USO

Israeli Prime Minister Netanyahu has announced that Israel will take 'overall security responsibility' of Gaza following the war. This could potentially impact the stability in the region.

Portfolio Pulse from Charles Gross

November 07, 2023 | 12:22 am

META

Meta Platforms Inc. has announced that it will prohibit political advertisers from using its generative AI advertising tools in an effort to curb the spread of election misinformation. The decision could impact the company's advertising revenue.

Portfolio Pulse from Charles Gross

November 07, 2023 | 12:19 am

CMPS

CYBN

MNMD

PSIL

The U.S. Court of Appeals overruled the DEA's denial of a psilocybin rescheduling lawsuit. Psychedelics company Cybin Inc. shared positive Phase 2 study results for its psilocybin analog CYB003 on Major Depressive Disorder. Several states are discussing psychedelics reform. The AdvisorShares Psychedelics ETF (PSIL) showed a recovery in its weekly performance. Psychedelics stocks GH Research, COMPASS Pathways, Mind Medicine, Enveric Biosciences, Silo Pharma, Bright Minds Biosciences, Atai Life Sciences, Incannex Healthcare, FSD Pharma, and Cybin Inc. all closed at varying prices.

Portfolio Pulse from Lara Goldstein

November 07, 2023 | 12:02 am

BTCUSD

Crypto experts believe that the recent surge in Bitcoin prices is driven by macroeconomic factors, not just by the anticipation of spot ETF approval. Factors such as the rise in jobless rate, slower wage growth, and slower job creation could prevent the Federal Reserve from hiking up interest rates, which could be positive for risk assets like cryptocurrencies. Bitcoin prices have seen a 1.8% increase since Nov.3 and a 25% gain in the past month. Major companies including BlackRock, DTCC, OCC, State Street, Société Générale, Hedera, Citi, BMO, Northern Trust, Citibank, Amazon, S&P Global, Google, Invesco, and Moody’s will join Benzinga for Fintech Deal Day and Future of Digital Assets events.

Portfolio Pulse from Khyathi Dalal

November 06, 2023 | 11:48 pm

THAR

Tharimmune has entered into an exclusive global licensing agreement for a clinical stage asset for chronic pruritis. The company expects to complete a Phase 2 clinical trial and release topline data approximately 12 months after aligning with the FDA on trial design.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 10:38 pm

ABNB

META

Italian finance authorities have seized an estimated $835 million from Airbnb Inc. (NASDAQ:ABNB) over allegations of tax evasion. The company is accused of not paying 21% withholding taxes on revenues of about €3.7 billion from rentals. This is part of a broader examination of tax practices by multinational corporations by Italian and European authorities. Airbnb's shares fell 3.6% on Monday.

Portfolio Pulse from Piero Cingari

November 06, 2023 | 10:30 pm

IVA

Inventiva (NASDAQ:IVA) has announced that its lead compound, Lanifibranor, will be the subject of a late breaker abstract and two additional abstracts at the AASLD The Liver Meeting 2023. The abstracts will present results from phase II trials evaluating Lanifibranor in patients with T2D and MASLD, and patients with NASH. The results show a correlation between the increase of adiponectin under Lanifibranor and the improvement of histological and serum markers of NASH severity. The efficacy of Lanifibranor appears to be independent of PNPLA3 status.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 10:30 pm

WMC

Western Asset Mortgage Capital has announced its intention to adjourn the special meeting of stockholders until December 5, 2023.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 10:18 pm