Streetbeat News

Regulatory

BABA

Alibaba Group Holding Limited (NYSE:BABA) has been cleared of a three-year antitrust investigation by Chinese regulators, leading to a premarket stock gain. The company had previously been fined $2.8 billion in 2021 for monopolistic practices. Despite recent challenges, including U.S. semiconductor sanctions and a weak economy, analysts remain optimistic about Alibaba's stock, with a 12-month price target of $106.45.

Portfolio Pulse from Anusuya Lahiri

August 30, 2024 | 12:41 pm

SPY

The USA Core PCE Price Index for July remained unchanged at 0.2%, matching both the estimate and the prior month's figure. This indicates stable inflationary pressures in the economy.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 12:30 pm

SPY

The PCE Price Index for July came in at 2.5% year-over-year, matching the prior month's figure and slightly below the estimated 2.6%. This indicates a stable inflation environment, which could influence market sentiment and investor decisions.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 12:30 pm

SPY

The US Core PCE Price Index for July came in at 2.6% year-over-year, slightly below the estimated 2.7%. This indicates a slower-than-expected increase in core inflation, which could influence market expectations regarding future interest rate hikes.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 12:30 pm

TM

Toyota is recalling 43,395 Sequoia Hybrid SUVs in the U.S. due to concerns about the tow hitch potentially detaching. The recall affects 2023 and 2024 models, with Toyota offering free repairs. This follows a previous recall in June for airbag issues.

Portfolio Pulse from Anan Ashraf

August 30, 2024 | 12:29 pm

AMZN

Amazon is set to revamp its Alexa voice assistant using Anthropic's Claude AI models, with a new version launching in October. This move aims to improve Alexa's ability to answer complex queries and introduce a paid 'Remarkable' version. Amazon's partnership with Anthropic is under investigation by a U.K. regulator for potential anti-competitive concerns.

Portfolio Pulse from Benzinga Neuro

August 30, 2024 | 12:21 pm

EBS

Emergent BioSolutions shares rose following FDA approval of an expanded indication for ACAM2000, now including prevention of mpox in high-risk individuals.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 11:57 am

EBS

The FDA has approved Emergent BioSolutions' ACAM2000 vaccine for expanded use to prevent mpox in high-risk individuals. This approval is based on human safety data and animal studies. Emergent will donate 50,000 doses to Central Africa, and the vaccine is stockpiled in the U.S. and internationally. EBS stock rose 15.70% following the news.

Portfolio Pulse from Vandana Singh

August 30, 2024 | 11:43 am

NVO

Novo Nordisk's new analysis published in The Lancet shows that semaglutide reduces the risk of cardiovascular death or worsening heart failure in patients with a history of heart failure.

Portfolio Pulse from Nabaparna Bhattacharya

August 30, 2024 | 11:41 am

LOT

Lotus Technology has obtained local homologation certification for its Eletre and Emeya models in the GCC region, with deliveries of the Eletre model expected in Q3.

Portfolio Pulse from Nabaparna Bhattacharya

August 30, 2024 | 11:11 am