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Seven automakers including BMW Group, General Motors, Honda, Hyundai, Kia, Mercedes-Benz Group, and Stellantis NV are joining forces to develop a new charging network joint venture to compete with Tesla's supercharger network. They plan to install at least 30,000 high-powered charge points across the country, offering both Combined Charging System and Tesla’s North American Charging Standard connectors. The joint venture is expected to be established this year, with the first stations opening in the summer of 2024.

Portfolio Pulse from Anan Ashraf

July 27, 2023 | 6:04 am

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Worldcoin, a project led by OpenAI co-founder Sam Altman, has drawn criticism from Twitter co-founder Jack Dorsey and others for its requirement of iris scanning to obtain its native token. The project aims to enhance economic opportunities and differentiate humans from AI. Ethereum co-founder Vitalik Buterin also expressed concerns about potential privacy breaches. Worldcoin's token, WLD, was down 8.21% at the time of the report.

Portfolio Pulse from Mehab Qureshi

July 27, 2023 | 4:48 am

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Tesla's Cybertruck, which has been the subject of intense interest and speculation, has been spotted testing on Californian streets with calibration equipment. This type of testing has been used by Tesla in the past to gather important information on the performance of their car models. The latest sighting comes at a time of increased scrutiny of safety standards maintained by Tesla vehicles.

Portfolio Pulse from Benzinga Neuro

July 27, 2023 | 2:53 am

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The California Attorney General's office is reportedly investigating Tesla Inc (NASDAQ:TSLA) over safety issues related to its Autopilot feature and allegations of false advertising. The investigation was triggered by customer and former employee complaints. Tesla, in its Q2 financial report, confirmed that it has been solicited for information by various regulatory and governmental bodies, but did not disclose the ongoing investigation by the California Attorney General.

Portfolio Pulse from AJ Fabino

July 26, 2023 | 9:34 pm

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The Federal Reserve has raised the federal funds rate by 25 basis points to a range of 5.25%-5.5%, the highest since February 2001. Economists have mixed reactions to the move. Quincy Krosby, Chief Global Strategist for LPL Financial, noted the two-year Treasury note inching lower and the Russell 2000 edging higher. Joe Brusuelas, Chief Economist at RSM U.S., believes the rate hike is the final increase in a two-year effort to restore price stability. Bill Adams, Chief Economist for Comerica Bank, expects the Fed to refrain from further rate hikes. Chris Zaccarelli, Chief Investment Officer for Independent Advisor Alliance, advises staying fully invested but diversified. Lawrence Yun, Chief Economist at the National Association of Realtors, noted the impact of increased interest rates on home sales and business investments.

Portfolio Pulse from AJ Fabino

July 26, 2023 | 9:21 pm

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Tonix Pharmaceuticals has announced that it is accelerating the completion of enrollment in its Phase 2 Uplift study of TNX-601 ER for Major Depressive Disorder. The company now expects topline data to be available in Q4 2023.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 8:55 pm

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Krystal Biotech has announced that the FDA has accepted its Investigational New Drug (IND) application for its lead oncology candidate KB707.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 8:54 pm

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L3Harris Technologies announced that the Federal Trade Commission (FTC) will not block its acquisition of Aerojet Rocketdyne. This clears a major regulatory hurdle for the deal to proceed.

Portfolio Pulse from Bill Haddad

July 26, 2023 | 8:35 pm

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The Federal Reserve has increased interest rates by 0.25 percentage points, leading to a mixed reaction in the stock market. Some stocks, including Meta Data Ltd., Snap, Inc., Alexandria Real Estate Equities, Inc., Bruker Corp., and Paramount Corp., saw gains, while others, such as Sirius XM Holdings Inc., Teledyne Technologies Inc., Cigna Group, Advanced Micro Devices, Inc., and Bank Bradesco SA, experienced losses. Major ETFs, including the SPDR Dow Jones Industrial Average ETF, the iShares Russell 2000 ETF, the SPDR Gold Trust, and the Invesco DB USD Index Bullish Fund ETF, also reacted to the news.

Portfolio Pulse from Piero Cingari

July 26, 2023 | 8:32 pm

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Palantir CEO, Alexander Karp, has compared the potential harm of artificial intelligence (AI) to the atomic bomb, suggesting that developers may only realize the technology's potential harm once it's too late. Karp argues for a regulatory framework to ensure the technology is developed positively. He also mentioned the possibility of AI being combined with advanced weapons systems. Stocks like Microsoft and NVIDIA, which are involved in AI, have seen significant rallies in 2023.

Portfolio Pulse from Aaron Bry

July 26, 2023 | 7:56 pm