Streetbeat News

Regulatory

Aurora Mobile has received approval to transfer its listing from the Nasdaq Global Market to the Nasdaq Capital Market. The transfer is expected to be effective from March 1, 2021.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 9:00 am

GOOG

GOOGL

VGK

Google is reportedly having productive discussions with the European Union regarding AI regulation, according to the head of Google Cloud. The news was reported by CNBC.

Portfolio Pulse from Charles Gross

June 28, 2023 | 8:51 am

AAPL

META

Apple Inc. has opposed the Online Safety Bill under consideration in the UK Parliament, joining 80 organizations and technology experts. The bill would force messaging services to scan message contents for child sexual abuse material (CSAM), which Apple argues would put people at greater risk from data breaches and surveillance. The company's iMessage service uses end-to-end encryption, as do other popular messaging services like Meta Platforms Inc.-owned WhatsApp and Facebook Messenger, and Signal.

Portfolio Pulse from Rounak Jain

June 28, 2023 | 8:30 am

ABBV

GMAB

Abbvie and Genmab have announced the topline results from the follicular lymphoma cohort of the phase 1/2 EPCORE NHL-1 trial of Epcoritamab. The companies are planning to engage with regulatory authorities to discuss the next steps.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:12 am

AVAV

GIS

TOVX

UNF

General Mills, AeroVironment, UniFirst Corporation, Theriva Biologics, and Micron Technology are the stocks to watch on Wednesday. General Mills is expected to report quarterly earnings of $1.06 per share on revenue of $5.17 billion. AeroVironment reported downbeat earnings for its fourth quarter, while sales topped estimates. UniFirst Corporation is expected to have earned $1.79 per share on revenue of $564.18 million. Theriva Biologics received Orphan Drug Designation from the FDA for VCN-01 for the treatment of pancreatic cancer. Micron Technology is expected to post a quarterly loss at $1.57 per share on revenue of $3.67 billion.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 8:12 am

RETA

The FDA has approved the Prior Approval Supplement for Reata Pharmaceuticals' drug, Skyclarys (Omaveloxolone), for Friedreich's Ataxia in adults and adolescents. With this approval, Skyclarys is now available in the US.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 8:08 am

BABA

BIDU

NVDA

TCEHY

The US is considering updating export controls on AI chips to limit China's access to advanced technologies with military applications. This could impact companies like Nvidia Corp. Meanwhile, China is attracting billionaires to participate in the AI race, with companies like Tencent Holdings, Alibaba Group Holding, and Baidu Inc. successfully luring renowned entrepreneurs and engineers. China's AI sector is expected to spend an estimated $15 billion on AI technology this year.

Portfolio Pulse from Ananya Gairola

June 28, 2023 | 5:50 am

BTCUSD

Robert Kennedy Jr. has reiterated his support for Bitcoin (BTC), promising to safeguard individuals' rights to use and hold the cryptocurrency if he is elected as president. He views Bitcoin as a defense against totalitarianism and manipulation of the money supply, and a tool for more transparent and democratic government institutions. He also expressed his commitment to enabling individuals to manage their own Bitcoin wallets, nodes, and passwords.

Portfolio Pulse from Mehab Qureshi

June 28, 2023 | 4:54 am

TSLA

Tesla CEO Elon Musk announced that the upcoming Full Self-Driving (FSD) version 12 will not be a beta version, implying that it will make Tesla's vehicles autonomous. The current FSD features are still in beta mode and require active driver supervision. Musk also mentioned that once FSD is 'super smooth' and not 'just safe', Tesla will roll out a free month trial of FSD for all cars in North America.

Portfolio Pulse from Anan Ashraf

June 28, 2023 | 3:06 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin saw gains following reports that Fidelity is preparing to submit an application for a Bitcoin ETF in the US. This comes after several other asset managers, including BlackRock, WisdomTree, Invesco, and Bitwise, have filed similar applications. Approval from the SEC is required for these applications. Analysts suggest that if a Bitcoin ETF is approved, it could drive the price of Bitcoin as high as $40,000.

Portfolio Pulse from Mehab Qureshi

June 28, 2023 | 2:53 am