Streetbeat News

Regulatory

AMZN

GOOG

GOOGL

META

MSFT

Microsoft Corporation is facing an EU lawsuit filed by German rival Alfaview over the bundling of its Teams app with its Office offerings. This follows a similar complaint by Salesforce in 2020. Microsoft is also deepening its AI partnership with Meta Platforms and has committed to a responsible approach to AI development. The company, along with other tech giants including Meta, Amazon, and Alphabet, has made voluntary commitments to implement measures to make AI safer and more secure.

Portfolio Pulse from Upwallstreet

July 21, 2023 | 5:22 pm

DWAC

MCB

SASI

SFBS

Several stocks experienced significant movement in Friday's mid-day session. Notable gainers include Digital World Acquisition Corp. (DWAC), which jumped 69% after reaching a settlement with the SEC, and ServisFirst Bancshares, Inc. (SFBS), which rose 17.3% following positive Q2 results. On the other hand, Sigma Additive Solutions, Inc. (SASI) fell 34.6%, and Metropolitan Bank Holding Corp. (MCB) dipped 9.3% following weak quarterly results.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 5:01 pm

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SPY

U.S. House Republican lawmakers are investigating the partnership between Ford Motor and China's Contemporary Amperex Technology Co Limited, according to Reuters.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 4:21 pm

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SOYB

SPY

VGK

WEAT

The EU envoy to the UN has stated that the EU is open to exploring solutions with the UN that could contribute to the resumption of the Black Sea grain deal, according to Reuters.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 4:20 pm

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EWU

MSFT

The UK's Competition Appeal Tribunal has granted an adjournment application in the case of Microsoft's acquisition of Activision. The decision could potentially delay the completion of the deal.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 4:15 pm

ADCT

ADC Therapeutics SA has announced the discontinuation of the Phase 2 LOTIS-9 trial evaluating Zynlonta and rituximab in unfit or frail patients with previously untreated diffuse large B-cell lymphoma (DLBCL). The decision follows a voluntary pause in enrollment due to potentially excessive respiratory-related events, including seven fatal events. The FDA has placed a partial clinical hold on the trial for new patient enrollment. ADC Therapeutics' shares are down 6.00%.

Portfolio Pulse from Vandana Singh

July 21, 2023 | 3:56 pm

SPIKE

SPY

UVXY

The CBOE Volatility Index (VIX), tracked by the ProShares Ultra VIX Short Term Futures ETF (UVXY) and other tickers, fell about 1.6% on Friday. Investors are anticipating the Federal Reserve's decision on a potential rate hike on July 25 and 26. The VIX measures near-term volatility in the stock market, indicating the level of fear in the S&P 500. The market seems to be pricing in a hawkish tone from the Fed, which could increase volatility. Traders can use MIAX’s SPIKES Volatility products, traded on SPIKES Volatility Index (SPIKE), to trade this volatility. These products track expected volatility in the SPDR S&P 500 ETF Trust (SPY) over the next 30 days.

Portfolio Pulse from Melanie Schaffer

July 21, 2023 | 3:46 pm

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GOOG

GOOGL

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MSFT

Seven tech giants including Alphabet Inc., Amazon Inc., Microsoft Corp., and Meta Platforms Inc. have pledged to adhere to voluntary guidelines to mitigate risks associated with artificial intelligence (AI). This move is part of the Biden administration's efforts to regulate AI technology. The companies will implement safety measures, share information on managing AI risks, and develop mechanisms to inform users when content is AI-generated. They will also publicly report their AI systems’ capabilities and limitations. The Biden-Harris administration is also developing an executive order and pursuing bipartisan legislation to further regulate AI technology.

Portfolio Pulse from Piero Cingari

July 21, 2023 | 3:31 pm

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SPY

U.S. Commerce Secretary Gina Raimondo has announced plans to visit China later this year, despite ongoing concerns about hacking, according to a CNBC interview.

Portfolio Pulse from Happy Mohamed

July 21, 2023 | 3:15 pm