Streetbeat News

Regulatory

COIN

TSLA

The SEC's argument in a federal court case against Coinbase that cryptocurrencies lack any inherent value has drawn criticism from Tesla CEO Elon Musk and Dogecoin co-creator Billy Markus. The SEC's stance is based on federal securities laws and the 'Howey Test'. Coinbase's chief legal officer, Paul Grewal, dismissed the SEC's arguments. Earlier, Coinbase received a Wells Notice from the SEC over potential violations of U.S. securities law.

Portfolio Pulse from Mehab Qureshi

October 09, 2023 | 3:39 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin experienced a decline amid the Israel-Hamas conflict. The geopolitical risk introduced by the conflict, along with inflation and surging interest rates, has affected the delicate market. The U.S. economy adding 336,000 jobs in September also contributed to the decline of Bitcoin. Analysts predict volatility in the market, with Bitcoin potentially surging to $30K as worldwide uncertainty grows. Stock futures also declined due to the conflict, with futures linked to the Dow Jones Industrial Average, S&P 500, and Nasdaq 100 all experiencing decreases.

Portfolio Pulse from Mehab Qureshi

October 09, 2023 | 2:25 am

META

Meta Platforms Inc (NASDAQ:META) is undergoing significant internal changes, including a major restructuring of its Responsible AI (RAI) team. Initially established to ensure the ethical deployment of AI tools, the RAI team has now pivoted more towards compliance. The team has shrunk from nearly 40 members to an estimated 25. This comes amidst Meta's push into AI, with the launch of its Llama AI model and generative-AI features in platforms like Facebook Messenger and WhatsApp.

Portfolio Pulse from Bibhu Pattnaik

October 08, 2023 | 3:54 pm

AMZN

MSFT

PYPL

This week in AI, Peter Thiel shared his thoughts on the nature of our universe, Tom Hanks expressed concerns about the misuse of AI in misleading advertisements, OpenAI is reportedly considering developing its own AI chips, and Microsoft's Bing AI Image Creator sparked controversy over unsettling images. OpenAI's AI platform, ChatGPT, is now subject to Chicago's Personal Property Lease Transaction Tax.

Portfolio Pulse from Benzinga Neuro

October 08, 2023 | 1:07 pm

TCNNF

The Georgia Board of Pharmacy has begun accepting applications from nearly 120 pharmacies to provide medical marijuana products, making it the first state in the US to allow the sale of low-dose cannabis at independent drug stores. The state's only two licensed cannabis producers, Botanical Sciences LLC and Trulieve Cannabis Corp. (OTCQX: TCNNF), will supply the pharmacies with products. This move will put about 90% of Georgia’s population within a 30-minute drive of a pharmacy selling medical marijuana.

Portfolio Pulse from Maureen Meehan

October 07, 2023 | 8:02 pm

AMZN

Amazon.com Inc. has successfully launched its inaugural satellites for Project Kuiper, marking a significant step towards establishing a global space internet system. The project aims to deploy over 3,000 satellites to deliver broadband service globally, particularly to underserved and remote areas. The launch was delayed by a year, and Amazon is under a mandate to launch half of its Kuiper constellation by 2026 to meet FCC licensing requirements. Amazon's Project Kuiper is a significant entrant in the competitive space internet domain, alongside contenders like SpaceX's Starlink.

Portfolio Pulse from Nabaparna Bhattacharya

October 07, 2023 | 7:55 pm

AZN

IONS

Ionis Pharmaceuticals announced new results from a 66-week analysis of exploratory cardiac endpoints in the Phase 3 NEURO-TTRansform study of eplontersen, a treatment for hereditary transthyretin-mediated amyloid polyneuropathy. The results showed stabilization or improvement in cardiac function and structure. Ionis and AstraZeneca are seeking regulatory approval for eplontersen in the U.S. and globally. AstraZeneca has exclusive rights to commercialize eplontersen outside the US. The FDA granted a PDUFA action date of Dec. 22, 2023.

Portfolio Pulse from Charles Gross

October 07, 2023 | 7:53 pm

GOOGL

MTCH

Alphabet Inc.'s CEO Sundar Pichai and Epic Games Inc. CEO Tim Sweeney are set to testify in a landmark antitrust trial regarding Google Play's potentially monopolistic policies. The trial, initiated by Epic Games, could reshape the app marketplace and put billions of dollars in revenue at risk. Google also faces antitrust challenges from consumers, nearly three dozen states, and Match Group Inc.

Portfolio Pulse from Nabaparna Bhattacharya

October 07, 2023 | 7:31 pm

PRPO

Precipio Inc has regained compliance with the Nasdaq Bid Price Rule, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:38 pm

ONCT

Oncternal Therapeutics has been granted an additional 180 days by Nasdaq to regain compliance with the minimum bid requirement, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:37 pm