Streetbeat News

Regulatory

BDSX

Biodesix, Inc. (NASDAQ:BDSX) announced that the ORACLE study, evaluating the performance of the Nodify XL2® Test, achieved its primary endpoint of a significant change in the management of benign lung nodules. The data was published in PLOS ONE.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 10:03 am

SCKT

Socket Mobile, Inc. (NASDAQ:SCKT) has announced that its SocketScan S550 NFC Mobile Wallet Reader has been fully certified under the FeliCa card standard. This certification could potentially enhance the company's market position and boost its sales.

Portfolio Pulse from Benzinga Newsdesk

July 12, 2023 | 10:02 am

AVGO

MRVL

VMW

Broadcom has received EU antitrust approval to acquire VMWare. As part of the agreement, Broadcom will provide Marvell with an irrevocable open source license and others with access to software and technical support to develop rival Fibre Channel Most-bus Adapters.

Portfolio Pulse from Charles Gross

July 12, 2023 | 9:55 am

FXI

China's market regulator has held a meeting with individual businesses to discuss their operational difficulties. The regulator has committed to improve targeted support and promote the sustainable and healthy development of individual industrial and commercial businesses.

Portfolio Pulse from Charles Gross

July 12, 2023 | 9:17 am

BAC

Merrill Lynch, a subsidiary of Bank of America (NYSE:BAC), has been fined $12 million by regulators for failing to file approximately 1,500 suspicious activity reports (SARs) over a span of more than ten years. The company used a $25,000 threshold for reporting SARs between 2009 and late 2019, contrary to U.S. anti-money-laundering rules which require SARs for transactions exceeding $5,000. Bank of America was also ordered to pay a $250 million penalty for opening credit-card accounts without customers’ consent and double-charging fees.

Portfolio Pulse from Benzinga Newsbot

July 12, 2023 | 8:52 am

TSLA

Tesla Inc has warned that the federal EV tax credit on its Model 3 might be reduced after December 31. This comes after the U.S. Department of Energy confirmed last month that all versions of the Model 3 would be eligible for a $7,500 tax credit. However, due to fresh guidance on battery sourcing, some versions of the Model 3 were only qualified for a tax credit of $3,750.

Portfolio Pulse from Anan Ashraf

July 12, 2023 | 6:56 am

AMGN

LLY

NVO

PFE

The European Union’s drug regulator has expanded its investigation into the risk of suicidal thoughts and self-injury among patients taking weight loss and diabetes medications, including those produced by Novo Nordisk. The probe could potentially involve Eli Lilly‘s diabetes drug Mounjaro and similar products under development by Pfizer and Amgen. The investigation could potentially establish new side effects associated with blockbuster drugs such as Wegovy and Ozempic.

Portfolio Pulse from Benzinga Newsbot

July 12, 2023 | 2:33 am

GOOG

GOOGL

MSFT

Elon Musk has sparked a debate about the issue of hallucinations in chatGPT, an AI language model developed by OpenAI. Musk expressed skepticism about the accuracy of chatGPT's answers. OpenAI's chatGPT and Microsoft's Bing AI, which uses the same technology, have previously faced criticism. Google's chatbot, Google Bard, has also been criticized for providing incorrect information.

Portfolio Pulse from Ananya Gairola

July 12, 2023 | 1:54 am

FFIE

Faraday Future has reported a restatement of its previously issued financial statements due to an error related to the change in the fair value upon conversion of the notes issued under the company's Securities Purchase Agreements. The company plans to hold a shareholder communication meeting next Monday after the close of market.

Portfolio Pulse from Benzinga Newsdesk

July 11, 2023 | 9:44 pm

TRSSF

Detroit is set to accept applications for the second round of limited marijuana business licenses on August 1, with half of all licenses reserved for 'equity applicants'. The licenses include dispensaries, microbusinesses, and consumption lounges. The second round comes after a gap of eight months since the city awarded 33 recreational retail marijuana licenses. Gage Cannabis, a subsidiary of TerrAscend Corp. (OTC:TRSSF), announced last year its fourth social equity grant recipient, Midwest CannaNurses.

Portfolio Pulse from Joana Scopel

July 11, 2023 | 9:39 pm