Streetbeat News

Regulatory

BABA

BIDU

GOOG

MSFT

Baidu, Inc and ByteDance Ltd have unveiled their AI chatbots, following approval from Beijing regulators. This move is seen as a counter to Microsoft Corp's OpenAI. While China is making strides in AI chatbot technology, it still lags behind Microsoft and Alphabet Inc's Google. Alibaba Group Holding Limited also recently launched a new AI model.

Portfolio Pulse from Anusuya Lahiri

August 31, 2023 | 1:06 pm

CRLBF

GTBIF

VRNOF

Governors JB Pritzker of Illinois and Albert Bryan Jr. of the U.S. Virgin Islands, known for their significant contributions to shaping cannabis policy, will speak at the Benzinga Cannabis Capital Conference in Chicago. Pritzker's tenure has seen the legalization of adult-use cannabis in Illinois, with key players like Cresco Labs Inc, Verano Holdings Corp., and Green Thumb Industries contributing to job creation and community revitalization. Bryan Jr. has championed cannabis legalization as a strategy to address post-pandemic financial challenges in the U.S. Virgin Islands.

Portfolio Pulse from Nicolás Jose Rodriguez

August 31, 2023 | 1:04 pm

LFVN

LifeVantage Corporation (NASDAQ:LFVN) has adopted a limited duration stockholder rights plan to protect the long-term interests of its stockholders and reduce the likelihood of any entity gaining control of the company through open-market accumulation of shares. The plan will be submitted for ratification at the company's upcoming Annual Meeting of Stockholders and will expire no later than August 28, 2024, if ratified. The plan includes provisions for stockholder protections and will issue one right for each share of common stock outstanding as of September 11, 2023.

Portfolio Pulse from Happy Mohamed

August 31, 2023 | 1:02 pm

GOOG

GOOGL

META

Google's Fitbit is facing complaints of GDPR violations filed by privacy advocacy group Noyb in Austria, Netherlands, and Italy. The group accuses Fitbit of forcing users to agree to data transfers outside the EU without an option to withdraw their consent. Noyb is asking Fitbit to provide complete data transfer information and allow users to use its app without agreeing to these transfers. This complaint highlights the growing scrutiny and strict regulatory environment tech companies face in the EU.

Portfolio Pulse from Benzinga Neuro

August 31, 2023 | 12:57 pm

GS

Goldman Sachs' partnerships with fintech companies are under scrutiny by U.S. banking regulators due to compliance and risk issues. The bank's transaction banking business unit has stopped onboarding high-risk fintech clients following a warning from the Federal Reserve. This development could potentially hinder Goldman's business expansion plans under CEO David Solomon.

Portfolio Pulse from Nabaparna Bhattacharya

August 31, 2023 | 12:50 pm

CRM

MSFT

Microsoft Inc (NASDAQ:MSFT) is modifying its sales approach for its Teams videoconferencing software in Europe following an EU antitrust probe. From October, Microsoft will offer a cheaper version of its productivity tools without Teams to European business consumers. The decision comes after rival Salesforce, Inc (NYSE: CRM) complained about Microsoft automatically installing Teams on customers' devices. Microsoft will reduce the price of its software suites that exclude Teams by approximately $2 monthly for most European business consumers.

Portfolio Pulse from Anusuya Lahiri

August 31, 2023 | 12:39 pm

FEMY

Femasys has obtained a Medical Device Establishment License from Health Canada, which allows the company to market its products in Canada.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:35 pm

FOXO

FOXO Technologies has announced that the NYSE American has accepted its compliance plan. This acceptance indicates that the company has met the necessary requirements to maintain its listing on the exchange.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:34 pm

UUP

The Federal Reserve's favored inflation measure, the Personal Consumption Expenditure (PCE) price index, increased to 3.3% in July, matching economists' projections. The core PCE price index, which excludes volatile food and energy items, also saw a slight increase from 4.1% to 4.2% in July, in line with economists' estimates.

Portfolio Pulse from Piero Cingari

August 31, 2023 | 12:34 pm

SPY

The initial jobless claims in the USA were reported at 228K, lower than the estimated 235K and the prior figure of 230K.

Portfolio Pulse from Benzinga Newsdesk

August 31, 2023 | 12:31 pm