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Disney is considering different strategies for its Star India business, which could include partnering with another company or even selling it. Kim Kardashian is reportedly in negotiations to buy back the minority stake in her beauty company, SKKN BY KIM, from Coty Inc. KPMG is reportedly looking to invest around $2 billion in AI and cloud services across its global business lines over the next five years. CVS's Caremark business experienced a halt in prescription processing. Ark Invest sold 135,152 shares of Coinbase Global Inc. Faraday Future Intelligent Electric flagged errors in its previously issued financial statements. The European Commission has fined Illumina Inc and Grail Inc for implementing their proposed merger before approval. Activision Blizzard Inc stock is trading lower amid reports of a possible new investigation on the Microsoft Corp takeover deal. Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. Domino's Pizza Inc entered a new global agreement with Uber Technologies Inc. Takeda Pharmaceutical Co Ltd is voluntarily withdrawing its marketing application for its dengue vaccine. Google quietly ditched its AI-powered mobile chatbot app, Bubble Characters. Warren Buffett's Berkshire Hathaway stood to make a profit of over $1 billion following the court's decision to allow Microsoft Corp to proceed with its acquisition of Activision Blizzard. IBM is weighing the use of artificial intelligence chips designed in-house to lower the costs of operating a cloud computing service. Novo Nordisk A/S's weight-loss drug, Wegovy, saw a significant drop in adherence compared to what was reported in clinical trials. Microsoft Corp has revealed that a China-based hacking group, Storm-0558, breached email accounts linked to government agencies in Western Europe. Hyundai Motor Company unionized workers at its plants across South Korea reportedly staged the first strike in five years against the government's labor policies.

Portfolio Pulse from Vandana Singh

July 12, 2023 | 1:48 pm

SPY

President Biden has stated that the G7's support will last long into the future, indicating a commitment to long-term international cooperation.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 1:32 pm

USDCUSD

USDTUSD

Reserve Bank of India (RBI) Deputy Governor T. Rabi Sankar expressed concerns about the adoption of stablecoins like Tether (USDT) and USD Coin (USDC) in emerging economies. He warned that allowing stablecoins linked to foreign currencies could lead to a continuous outflow of wealth from emerging to developed economies. Sankar suggested that each country should have its own Central Bank Digital Currency (CBDC) and establish a mechanism for these CBDCs to interface and transact with each other.

Portfolio Pulse from Murtuza Merchant

July 12, 2023 | 1:09 pm

ATVI

MSFT

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NVDA

Activision Blizzard's stock is trading lower amid reports of a possible new investigation on the Microsoft takeover deal to reverse a U.K. veto. The Competition and Markets Authority (CMA) has applied to put the appeal trial against its decision to block the deal on hold. Microsoft and Activision are considering modifying the transaction. Microsoft had already forged deals with Nvidia, Nintendo, Boosteroid, and Nware to win regulatory support for the deal.

Portfolio Pulse from Anusuya Lahiri

July 12, 2023 | 1:04 pm

RDY

Dr Reddy's Laboratories' proposed biosimilar application for Rituximab has been accepted for review by the FDA, European Medical Agency, and Medicines and Healthcare Products Regulatory Agency.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 1:04 pm

XPEV

The weekly sales data chart released by Li Auto, showing it sold 7,900 units in the 28th week of 2023, has been questioned by some employees of XPENG Motors. NIO and Tengshi were also mentioned in the chart with sales of 3,100 and 2,500 units respectively. This is not the first time Li Auto's sales data has been disputed.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 1:02 pm

HIVE

Trading of shares in Hive Blockchain Technologies has been halted due to pending code news.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:55 pm

SPY

Federal Reserve's Barkin has stated that demand appears to be settling down, but he is still looking for convincing evidence that this will feed through to inflation, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:50 pm

GLD

SPY

The U.S. consumer price index (CPI) inflation decelerated more than predicted in June, leading to a drop in the annual inflation rate from 4% in May to 3% in June. This has increased investor conviction that the Fed may decide for only one more rate hike and then halt its tightening cycle. Following the release of the data, the dollar tumbled, treasury yields declined, and S&P 500 futures rose. The SPDR S&P 500 ETF Trust (NYSE:SPY) and the SPDR Gold Trust ETF (NYSE:GLD) were positively impacted.

Portfolio Pulse from Piero Cingari

July 12, 2023 | 12:49 pm

SPY

Richmond Fed's Barkin has stated that inflation is still too high, with demand remaining elevated while supply is constrained. The process of getting back to balance has been slow.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:48 pm