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Regulatory

GOOG

MSFT

The article discusses the reality of AI technology and its impact on the earnings of Microsoft Corp (NASDAQ:MSFT) and Alphabet Inc Class C (NASDAQ:GOOG). It highlights that the monetization of AI will be slow and a lot of money is to be spent now with returns far in the future. The article also mentions that the SEC may move against AI garbage by proposing guidelines. It also mentions the stocks of Apple Inc (NASDAQ:AAPL), Amazon.com, Inc. (NASDAQ:AMZN), Meta Platforms Inc (NASDAQ:META), NVIDIA Corp (NASDAQ:NVDA), and Tesla Inc (NASDAQ:TSLA) as part of the 'magnificent seven' stocks that have led the rally.

Portfolio Pulse from The Arora Report

July 26, 2023 | 4:35 pm

AZN

BNTX

JNJ

MRNA

NVAX

PFE

A Yale University study found that the death rate among Republican voters was 43% higher than Democratic voters after the Covid-19 vaccine became widely available. The study suggests that differences in vaccination attitudes between Republican and Democratic voters may have influenced the severity and trajectory of the pandemic in the US. Misinformation and mistrust in official sources of information surrounding the vaccine and the pandemic have been attributed to the higher rate of Republican deaths. The study did not include whether the individuals were vaccinated or if their deaths were directly linked to Covid-19.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 4:24 pm

APO

BAC

JPM

WFC

Wall Street banks including JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc, Wells Fargo & Co., Morgan Stanley and others are preparing for regulatory changes that could potentially wipe out nearly all of the $118 billion in extra capital they've accumulated over the past decade. The Federal Reserve and the Federal Deposit Insurance Corporation will discuss proposed changes on banks' regulatory capital, marking the first step towards the U.S. adopting the final version of the Basel III international banking standards. The changes have been criticized by bank executives who argue they could make them less competitive against their European counterparts and private equity firms such as Apollo Global Management and Blackstone Inc.

Portfolio Pulse from Piero Cingari

July 26, 2023 | 4:07 pm

LCID

Lucid Group Inc's shares are trading higher by 2.27% to $7.00 despite no company-specific news. The stock is trading higher amid overall market volatility ahead of the Fed's decision. If the Fed raises interest rates, it could increase Lucid's borrowing costs, affecting its financial flexibility. Lucid is also ramping up production and expanding its product offerings, and higher interest rates could increase capital expenses.

Portfolio Pulse from Henry Khederian

July 26, 2023 | 4:06 pm

MRK

MRNA

Merck & Co Inc and Moderna Inc have initiated a Phase 3 trial for V940 (mRNA-4157), a personalized skin cancer therapy. The trial will enroll approximately 1,089 patients, with the first patients now enrolling in Australia. The therapy has been granted Breakthrough Therapy Designation by the FDA and the Priority Medicines scheme by the European Medicines Agency. The companies also plan to expand the development program to additional tumor types.

Portfolio Pulse from Vandana Singh

July 26, 2023 | 4:04 pm

MXL

SIMO

Silicon Motion Technology Corporation's (NASDAQ:SIMO) shares are surging following Chinese regulatory approval of its merger with MaxLinear, Inc. (NASDAQ:MXL). The merger values the combined company at $8 billion. Silicon Motion will release its Q2 2023 financial results after the market closes on Thursday, but will not conduct its customary earnings conference call due to the transaction with MaxLinear.

Portfolio Pulse from Erica Kollmann

July 26, 2023 | 3:58 pm

SPKY

UVXY

ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY) is trading flat ahead of the Federal Reserve's decision on interest rates. The fund, which tracks the SPIKES Futures Short-Term Index, is similar to ProShares Ultra VIX Short Term Futures ETF (UVXY). The Federal Reserve is expected to announce a 0.25% rate hike, which could increase market volatility and potentially send SPKY higher. SPKY is currently in oversold territory and may be set for a short-term bounce.

Portfolio Pulse from Melanie Schaffer

July 26, 2023 | 3:34 pm

SPY

The U.S. Securities and Exchange Commission (SEC) has voted 3-2 to adopt a new rule requiring the disclosure of cyber intrusions within 4 days of determining they are material to investors.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 3:21 pm

FXI

SPY

U.S. Treasury Undersecretary Shambaugh stated that lending to China from multilateral development banks is declining, but not at a fast enough pace. He emphasized that it needs to go to zero rapidly.

Portfolio Pulse from Benzinga Newsdesk

July 26, 2023 | 3:10 pm

AZN

LLY

NVO

SNY

The UK's Medicines and Healthcare Products Regulatory Agency (MHRA) is scrutinizing diabetes and weight loss drugs sold by Novo Nordisk, including Ozempic and Wegovy, following reports of suicidal behavior. The agency is also reviewing type 2 diabetes medications from AstraZeneca, Sanofi, and Eli Lilly. The EU's drugs watchdog recently raised a thyroid cancer safety signal for Novo Nordisk's drugs.

Portfolio Pulse from Vandana Singh

July 26, 2023 | 3:07 pm