Streetbeat News

Regulatory

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

AZN

AstraZeneca and Daiichi Sankyo's Enhertu has been approved in China for the treatment of adult patients with unresectable or metastatic HER2-low breast cancer. The approval by China's National Medical Products Administration is based on the results of the DESTINY-Breast04 Phase III trial.

Portfolio Pulse from Charles Gross

July 12, 2023 | 10:37 am

BTC-USD

Political commentator Tucker Carlson suggested in a Twitter show with internet personality Andrew Tate that it would be easier to create a fake cryptocurrency like FTX and defraud billions of dollars. This comes as Andrew Tate and his brother face serious charges including human trafficking and unauthorized access to a computer system. Romanian prosecutors have seized 21 Bitcoins from the Tate brothers worth around $560,000.

Portfolio Pulse from Mehab Qureshi

July 12, 2023 | 10:25 am

ILMN

VGK

EU antitrust regulators have fined Illumina 432M Euros for closing the Grail deal before securing regulatory approval. Illumina has stated that the fine is unlawful, inappropriate, and disproportionate, and plans to appeal against it.

Portfolio Pulse from Charles Gross

July 12, 2023 | 10:23 am

AVGO

VMW

The European Commission has given conditional approval to Broadcom for its acquisition of VMware. The deal is expected to close in FY23. Broadcom has also received legal merger clearance in Australia, Brazil, Canada, South Africa, and Taiwan, and foreign investment control clearance in all necessary jurisdictions.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 10:07 am