Streetbeat News

Regulatory

SPY

U.S. Senator Bennett has expressed the need for Washington to be involved in setting global standards for AI after a meeting. This could potentially impact the technology sector and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 4:33 pm

TSLA

Elon Musk, CEO of Tesla, has reportedly conveyed to senators at an AI meeting in Washington that it is crucial to have a referee. The details of the meeting or the context of Musk's statement are not provided.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 4:32 pm

SPY

Democratic Senator Bennett has stated that there is a growing consensus on the need for a regulator on Artificial Intelligence (AI).

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 4:32 pm

MRK

MRNA

MYNZ

PFE

Mainz Biomed N.V. (NASDAQ:MYNZ) reported positive study findings for its mRNA markers that could potentially prevent and diagnose colorectal cancer early. The study found a sensitivity of 94% for colorectal cancer and 81% for advanced adenoma. Meanwhile, Moderna Inc (NASDAQ:MRNA) and Merck & Co Inc (NYSE:MRK) are pursuing their mRNA cancer treatment vaccine, which has shown to lower the risk of death or recurrence in serious skin cancer patients by 44%. Pfizer Inc (NYSE:PFE) is also working on cancer treatments, but progress has been slower compared to its COVID-19 efforts.

Portfolio Pulse from Upwallstreet

September 13, 2023 | 4:31 pm

VRNOF

Alabama Medical Cannabis Commission (AMCC) is facing another lawsuit, this time from Medella LLC, a medical cannabis company applying for a license. The lawsuit alleges that AMCC's assessments of license candidates misleadingly suggested that one of Medella's owners or senior directors had a criminal background. This follows previous legal actions against the commission from Alabama Always LLC and Verano Holdings Corp. (OTCQX:VRNOF), both of which have been involved in legal disputes with the commission over its license allocation process.

Portfolio Pulse from Jelena Martinovic

September 13, 2023 | 4:30 pm

SPY

U.S. Senator Durbin has had a productive meeting with representatives from the tech industry discussing AI, with a positive sentiment towards mutual cooperation.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 4:29 pm

SPY

U.S. Senator Durbin has stated that regulations for the AI industry are being considered and are likely to become a reality. This could potentially impact companies in the AI sector.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 4:28 pm

AVTX

Avalo Therapeutics Inc (NASDAQ:AVTX) shares are gaining on heavy volume after the company received a notice from Nasdaq about a potential delisting due to low bid price. The company has until Sept. 19, 2023, to appeal. Avalo also agreed to sell its rights and interest in assets relating to AVTX-801, AVTX-802, and AVTX-803 to AUG Therapeutics Inc. for a potential aggregate of $45 million.

Portfolio Pulse from Vandana Singh

September 13, 2023 | 4:19 pm

ACM

FLR

HON

ITA

LMT

NOCE

RTN

XAR

The US government may face a shutdown if lawmakers fail to agree on funding allocation for 438 governmental agencies by September 30. A shutdown could temporarily reduce GDP by 0.15% per week, according to Goldman Sachs. The stock market has shown inconsistent responses to past shutdowns. Government contractors, particularly in the defense sector, could be affected. These include Lockheed Martin Corp (LMT), Boeing Co (BA), General Dynamics (GD), Raytheon (RTN), and Northrop Grumman Corp (NOCE). ETFs such as iShares US Aerospace & Defense ETF (ITA) and SPDR S&P Aerospace & Defense ETF (XAR) could also be impacted. Energy contractors like Aecom (ACM), Fluor Corp (FLR), and Honeywell International Inc (HON) could also be affected.

Portfolio Pulse from Natan Ponieman

September 13, 2023 | 4:09 pm

SPY

The U.S. House Republican leadership has postponed the procedural vote needed to begin debate on the FY24 Defense Appropriations Bill, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 13, 2023 | 4:07 pm