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Regulatory

AMZN

Amazon showcased its advancements in robotics at the 'Delivering the Future' event, focusing on drone deliveries and warehouse automation. The company announced the expansion of its Prime Air service, with drone deliveries of medications from Amazon Pharmacy to customers in College Station, Texas. The drone delivery service is also expected to launch in another U.S. city and select locations in the U.K. and Germany next year. Amazon also introduced Sequoia, a system to enhance inventory management at fulfillment centers, which can process inventory up to 75% faster and reduce order processing time by 25%.

Portfolio Pulse from Anusuya Lahiri

October 30, 2023 | 4:09 pm

UTEN

Goldman Sachs predicts no rate hikes in the upcoming Federal Open Market Committee meeting, with a possible shift towards 'insurance cuts' in 2024. The current interest rate of 5.25%-5.5% is expected to remain unchanged, with a 98% probability according to CME Group’s FedWatch tool. The 10-year Treasury note, tracked through the US Treasury 10 Year Note ETF (NYSE:UTEN), has surged to levels unseen since 2007.

Portfolio Pulse from Piero Cingari

October 30, 2023 | 4:07 pm

TSLA

Tesla Inc's shares are trading lower due to disappointing Q3 results, ongoing DOJ investigation, and increasing competition from Chinese EV makers. Tesla's Q3 production was lower than Q2, and the company missed analyst estimates. The DOJ is investigating Tesla over range advertising, personal benefits, and personnel decisions. Chinese competitor BYD reported an 82.2% YoY increase in profits and a 36.5% increase in revenues.

Portfolio Pulse from Adam Eckert

October 30, 2023 | 3:52 pm

VEON

VEON Ltd. and VEON Holdings B.V. have filed two motions with a Kyiv district court, challenging the freezing of corporate rights in Kyivstar, announced by the Security Services of Ukraine (SSU) on 6 October 2023. VEON argues that the seizure violates the rights of VEON and its international investors. The company has not yet been officially served the initial court order or the amended order reducing the percentage of seized corporate rights to 47.85% of the shares. VEON clarified that a corporate rights freeze does not amount to asset seizure and does not affect the protection of foreign investors' interests.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 3:31 pm

EWC

TCEHY

The Canadian government has announced a ban on the use of WeChat and Kaspersky applications on government mobile devices, according to a statement cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 3:10 pm

CHRS

Coherus BioSciences, Inc. (NASDAQ:CHRS) shares are trading higher after the company announced the FDA-approval of Loqtorzi, a treatment for recurrent or metastatic nasopharyngeal carcinoma. This approval is a significant event for Coherus, marking it as an innovative oncology company. The company's shares have attracted attention from retail investors and short-sellers, with CHRS being one of the top trending tickers on Yahoo Finance. The stock's trading volume has significantly increased, with more than 13.7 million shares traded compared to the 100-day average of 2.853 million shares.

Portfolio Pulse from Erica Kollmann

October 30, 2023 | 3:04 pm

BAC

C

GS

JPM

WFC

President Joe Biden has issued an executive order on artificial intelligence (AI), requiring new safety assessments, equity and civil rights guidance, and research on AI’s impact on the labor market. The order comes as financial firms and banks have started to adopt AI-based systems for various functions, including fraud detection and customer service. Major banks such as JPMorgan Chase, Wells Fargo, Bank of America, and Goldman Sachs have rolled out many AI-powered programs. Citigroup recently announced that 40,000 of its coders will be granted access to Generative AI to increase efficiency.

Portfolio Pulse from Khyathi Dalal

October 30, 2023 | 3:02 pm

NYT

The National Labor Relations Board (NLRB) intends to hold a hearing to review the Tech Guild's charge, according to a spokesperson from the New York Times.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 3:01 pm

BTAI

BioXcel Therapeutics announced that the Centers for Medicare & Medicaid Services has issued a permanent and product-specific J-Code for IGALMI sublingual film, leading to a rise in the company's shares.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 2:59 pm

LMDX

LumiraDX shares are trading lower following the company's announcement of receiving a Nasdaq delisting determination.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 2:39 pm