Streetbeat News

Regulatory

TSLA

Tesla is planning to enter the UK energy market as a household electricity supplier, according to a recent job listing. The company, which already operates an energy supply business in the US, aims to sell electricity to homes and run 'virtual power plants'. Tesla Electric, the company's energy supply arm, is expected to support the transition of the electricity grid to 100% renewables. The move could help Tesla customers store cheap electricity and sell it back to the grid at higher market prices.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:06 pm

BIAF

The American Medical Association (AMA) has issued a Current Procedural Terminology (CPT) code for bioAffinity Technologies' CyPath Lung, a noninvasive test for early-stage lung cancer. This could potentially increase the usage and adoption of the test.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:04 pm

ARDS

Aridis Pharmaceuticals has announced that its product AR-301 has received the FDA's Qualified Infectious Disease Product designation. This designation will expedite the development and review process of the drug.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 12:02 pm

ATVI

AVGO

MSFT

VMW

Vmware, Inc's stock is trading lower after Broadcom Inc won conditional approval from the European Commission to complete its acquisition of VMware. The Commission recognizes the importance of this combination in enabling enterprises to accelerate growth in the multi-cloud ecosystem. Broadcom has also won legal merger clearance in Australia, Brazil, Canada, South Africa, and Taiwan for the $61 billion deal. On Tuesday, Microsoft Corp won a court permit to move forward with its $69 billion deal to buy Activision Blizzard, Inc.

Portfolio Pulse from Anusuya Lahiri

July 12, 2023 | 11:55 am

ATVI

MSFT

The UK Competition and Markets Authority (CMA) has commented on the Microsoft-Activision deal, stating that while the merging parties cannot propose new remedies after a final report, they can choose to restructure the deal, potentially leading to a new merger investigation.

Portfolio Pulse from Charles Gross

July 12, 2023 | 11:53 am

BABA

MPNGF

MPNGY

TCEHY

Alibaba Group Holding Limited (NASDAQ:BABA) stock is trading higher as China ends its regulatory overhaul and voices its desire to boost Big Tech. The National Development and Reform Commission (NDRC) praised projects by ten leading internet giants, including Alibaba, Tencent Holding Ltd (OTC:TCEHY), and Meituan (OTC:MPNGF) (OTC:MPNGY), signaling efforts to restore national economic growth. Alibaba's grocery subsidiary Freshippo revealed its largest wholly-automatic supply chain center in Shanghai and is preparing for an IPO in Hong Kong by 2024.

Portfolio Pulse from Anusuya Lahiri

July 12, 2023 | 11:51 am

SPY

VGK

White House National Security Advisor Sullivan stated in a CNN interview that Ukraine's admission into NATO at this time would inevitably lead to war with Russia.

Portfolio Pulse from Charles Gross

July 12, 2023 | 11:50 am

BAC

BRK.A

DAI.DE

TSLA

Investor optimism is improving ahead of inflation data. WhatsApp's latest update for iOS makes it easier to use the app on other devices. Berkshire Hathaway is set for a $1B windfall following the Microsoft-Activision deal. Tesla warns that Model 3 tax credit might be reduced after the end of the year. Regulators have fined Merrill Lynch $12M for anti-money-laundering failures. Mercedes-Benz reports a 123% surge in Q2 EV sales on spectacular US demand.

Portfolio Pulse from Akanksha Bakshi

July 12, 2023 | 11:40 am

FXI

China's Premier has met with major internet companies and has vowed to provide more support. The specific companies involved in the meeting were not mentioned in the article.

Portfolio Pulse from Charles Gross

July 12, 2023 | 11:24 am

BGNE

The FDA has accepted BeiGene's supplemental new drug application for Brukinsa (Zanubrutinib) combined with Obinutuzumab for relapsed or refractory follicular lymphoma. The target action date is in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 11:14 am