Streetbeat News

Regulatory

AAPL

AMZN

GOOG

MSFT

The European Union (EU) has labeled Apple Inc. (NASDAQ:AAPL) as one of six ‘gatekeepers’ in the digital market under its new Digital Markets Act (DMA). Other named gatekeepers include Alphabet Inc. (NASDAQ:GOOG), Amazon.com Inc. (NASDAQ:AMZN), Meta Platforms Inc. (NASDAQ:FB), Microsoft Corporation (NASDAQ:MSFT), and ByteDance Ltd. Apple has been accused of gatekeeping for its Safari browser, iOS operating system, and the App Store. If Apple fails to comply with DMA obligations, it could face a fine of up to 10% of its global turnover, which could rise to 20% for repeat offenses.

Portfolio Pulse from Benzinga Neuro

September 06, 2023 | 1:59 pm

EZGO

FOXO

ICCT

OSTK

PALI

VERB

US stocks traded lower with the Nasdaq Composite falling around 50 points. The US trade deficit widened to $65 billion in July. Palisade Bio, FOXO Technologies, and iCoreConnect saw their shares rise due to various positive developments. EZGO Technologies, Verb Technology Company, and Overstock.com saw their shares drop due to negative news.

Portfolio Pulse from Lisa Levin

September 06, 2023 | 1:59 pm

SPY

The S&P Global Services PMI for August was reported at 50.5, lower than the estimated 51.0 and the prior figure of 52.3.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 1:51 pm

AAPL

ACI

AMZN

GOOG

MRNA

ROKU

SFTBF

SPOT

UAL

WMG

The Chinese government has banned its officials from using Apple's iPhones and other foreign-branded devices at work. The FTC could prosecute Amazon over antitrust claims. Toyota launched a new version of its chauffeur-driven Century model. SoftBank backed Arm Holdings has launched its roadshow for its IPO. Warner Music has acquired a majority stake in 10K Projects. Roku disclosed measures to cut down its operating expense growth rate. United Airlines flights are back in the air after a temporary grounding. Moderna's updated COVID-19 vaccine is pending FDA approval. Spotify is exploring a move to put lyrics behind its paywall. Google tentatively settled a class action suit for allegedly violating antitrust norms. General Motors said that the UAW union's demands will pressure its manufacturing momentum. C&S Wholesale Grocers, backed by SoftBank, is reportedly approaching a deal to buy stores from Kroger and Albertsons. Apple inked a fresh deal with Arm Ltd for chip technology.

Portfolio Pulse from Vandana Singh

September 06, 2023 | 1:43 pm

LUCD

PAVM

Lucid Diagnostics Inc. (NASDAQ:LUCD), a subsidiary of PAVmed Inc. (NASDAQ:PAVM), has released positive data from a retrospective analysis demonstrating the clinical utility of EsoGuard® Esophageal DNA testing for the detection of esophageal precancer in fire fighters. The study shows 100% concordance between EsoGuard test results and subsequent medical decision-making. The release of these data supports recently proposed federal legislation seeking to fund guaranteed firefighter access to early detection tests such as EsoGuard.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 1:25 pm

LINK

Interlink Electronics, Inc. (NASDAQ:LINK) has received a $175,000 SBIR award from NOAA for the development of low-cost, low-power sensor nodes for monitoring air quality impacted by wildfire smoke. The company's Gas and Environmental Solutions division will be leading the project. The sensors will provide real-time air quality data and are expected to increase awareness and understanding of the impact of low air quality.

Portfolio Pulse from Happy Mohamed

September 06, 2023 | 1:23 pm

ARKK

DOGE-USD

GOOGL

TSLA

Crypto analyst predicts a 170% upside for Dogecoin by 2024. Google accidentally leaks a 360-degree view of the upcoming Pixel 8 Pro. Cathie Wood's Ark Invest continues to sell Shopify and Nvidia shares, while buying Spotify stock. Coinbase-incubated Base faces a major outage but assures no funds are at risk. Tesla, GM, Ford are among automakers targeted by NHTSA over faulty airbag inflators. Tesla raises the price of its Yoke steering wheel amidst recent Model S, X price adjustments.

Portfolio Pulse from Akanksha Bakshi

September 06, 2023 | 1:13 pm

MSOS

AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) has seen a sharp rise, with a 66% increase in the past week and an 18.7% surge on Tuesday to close at $8.08. This rise is attributed to news that the Department of Health and Human Services proposed reclassifying marijuana to a lower-risk drug category. Options traders are betting on the ETF to rise even higher, with a buyer purchasing 2,685 of the December 8-calls at an average price of $1.52 per contract, predicting the ETF to trade above $9.52 by December.

Portfolio Pulse from Lisa Levin

September 06, 2023 | 1:13 pm

MRNA

Moderna Inc's updated COVID-19 vaccine has shown an 8.7-fold increase in neutralizing antibodies against the highly mutated BA.2.86 variant, according to clinical trial data. The vaccine is pending FDA approval for the fall 2023 vaccination season. The Centers for Disease Control (CDC) suggests that updated vaccines may be effective in reducing severe disease and hospitalization caused by this variant. Moderna's shares are up 0.76% in the premarket session.

Portfolio Pulse from Vandana Singh

September 06, 2023 | 1:11 pm

GOOG

GOOGL

MTCH

Google, a subsidiary of Alphabet Inc, has tentatively settled a class action suit for allegedly violating antitrust norms by overcharging customers on its U.S. Play Store. The financial terms of the settlement remain undisclosed. The lawsuit was brought by over 30 U.S. states and represented 21 million consumers. Google is also facing similar lawsuits for allegedly generating enormous profit margins from its Play Store through illegal tactics to preserve monopolies in selling Android apps and in-app goods. Match Group, Inc has also brought a claim.

Portfolio Pulse from Anusuya Lahiri

September 06, 2023 | 12:58 pm