Streetbeat News

Regulatory

GOOG

GOOGL

MSFT

Two New York lawyers have been fined $5,000 for unknowingly incorporating fictitious case citations generated by OpenAI's chatGPT into their legal brief. The incident highlights the importance of attorney gatekeeping and accuracy in legal filings, as well as the potential risks of relying on AI-generated advice in fields like law and medicine.

Portfolio Pulse from Ananya Gairola

June 23, 2023 | 8:31 am

APOG

IONQ

KMX

MRNA

SWBI

Smith & Wesson Brands reported better-than-expected Q4 results and raised its quarterly dividend. Apogee Enterprises is expected to report earnings of $0.90 per share on revenue of $354.77 million. CarMax is expected to have earned $0.79 per share on revenue of $7.53 billion. IonQ lifted its booking expectations for the year by 25%. Moderna submitted an application to the FDA for the authorization of its updated vaccine.

Portfolio Pulse from Lisa Levin

June 23, 2023 | 8:00 am

META

Meta Platforms faces legal action from Malaysian authorities due to its failure to remove undesirable content from Facebook. The Malaysian Communications and Multimedia Commission (MCMC) claims that Meta has not taken sufficient action despite repeated requests, and legal action is necessary for cybersecurity and consumer protection.

Portfolio Pulse from Benzinga Newsbot

June 23, 2023 | 4:38 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies slightly tumbled on Thursday evening following BitGo’s decision to halt the acquisition of rival Prime Trust. The price of Bitcoin seems to have hit a standstill after rallying for two days on news of spot Bitcoin ETFs. Analysts predict a 420% surge for Bitcoin by 2025.

Portfolio Pulse from Mehab Qureshi

June 23, 2023 | 2:33 am

BTCUSD

QQQ

SPY

Robert Kiyosaki, author of 'Rich Dad, Poor Dad', shares his perspective on determining if the economy is in a recession. His comments come as the Federal Reserve plans to raise rates by 50 basis points this year, and market participants weigh the possibilities of extended rate hikes.

Portfolio Pulse from Bhavik Nair

June 23, 2023 | 2:20 am

GAMB

North Carolina's Republican-controlled state House passed a bill banning transgender girls and women from participating in sports teams that align with their gender identity. The bill comes after the recent legalization of sports betting in the state, which is expected to generate over $100 million in tax revenue per year within five years.

Portfolio Pulse from Benzinga Newsbot

June 23, 2023 | 1:46 am

MRNA

Moderna has submitted an application to the FDA for authorization of its updated COVID-19 vaccine, designed to protect against the XBB.1.5 subvariant. The FDA advised vaccine manufacturers to target this subvariant in their fall vaccines, as it accounts for approximately 40% of U.S. cases.

Portfolio Pulse from Benzinga Newsbot

June 22, 2023 | 11:18 pm

GOOG

META

Meta Platforms Inc. (NASDAQ:META) announced it will cease news sharing on Facebook and Instagram in Canada prior to the Online News Act (Bill C-18) taking effect. The bill, which requires tech giants like Meta and Alphabet Inc’s (NASDAQ:GOOGL) (NASDAQ:GOOG) Google to negotiate compensation deals with news organizations, has been a point of contention.

Portfolio Pulse from Benzinga Newsbot

June 22, 2023 | 11:13 pm

TRUP

Trupanion Inc (NASDAQ:TRUP) shares are rising after California and New York approved the company's requested rate increases. California approved a 12% rate increase and New York approved an 18% rate increase. Trupanion expects to have 19.7% pricing action flowing through its book by the end of August and 21.6% by the end of September.

Portfolio Pulse from Adam Eckert

June 22, 2023 | 9:46 pm

ICPT

Intercept Pharmaceuticals received a Complete Response Letter (CRL) from the FDA for its New Drug Application (NDA) for obeticholic acid (OCA) as a treatment for pre-cirrhotic fibrosis due to NASH. The company will discontinue all NASH-related investment and restructure its operations to focus on rare and serious liver diseases.

Portfolio Pulse from Benzinga Newsdesk

June 22, 2023 | 9:46 pm