Streetbeat News

Regulatory

GM

The National Highway Traffic Safety Administration (NHTSA) has concluded its engineering analysis into 1,339,355 General Motors vehicles regarding a potential failure of the outboard front seat belt anchor cable. This closure indicates that no further action will be taken by the NHTSA on this matter.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 9:44 am

EADSY

Cathay Pacific Airways will fully resume operations of its Airbus A350 fleet by September 7 after addressing an engine component failure. The airline had temporarily grounded the fleet for inspections and part replacements to ensure safety.

Portfolio Pulse from Benzinga Neuro

September 04, 2024 | 9:08 am

NVDA

Nvidia's stock has dropped 14% over three sessions despite strong earnings, due to minimal guidance margin and concerns over AI accelerator delays. The stock also faced pressure from DOJ subpoenas over monopoly practices, leading to a historic $300 billion market cap loss in one day.

Portfolio Pulse from Shanthi Rexaline

September 04, 2024 | 8:21 am

NVDA

Nvidia, despite its leadership in AI, is not favored by over half of the ultra-wealthy Tiger 21 network members, with 57% choosing not to invest. Concerns about market recalibration and potential antitrust issues have led to a downturn in Nvidia's stock price.

Portfolio Pulse from Benzinga Neuro

September 04, 2024 | 8:16 am

NVDA

Gene Munster remains optimistic about AI's long-term impact despite Nvidia's market cap dropping by nearly $300B, affecting the Nasdaq. Nvidia's stock fell after exceeding earnings expectations and receiving a DOJ subpoena.

Portfolio Pulse from Ananya Gairola

September 04, 2024 | 7:57 am

BTCUSD

Analysts at Bitfinex predict Bitcoin could drop 15-20% if the Federal Reserve cuts interest rates, due to its growing correlation with traditional financial assets. This comes amid increased volatility and a recent 4% drop in Bitcoin's price.

Portfolio Pulse from Aniket Verma

September 04, 2024 | 7:44 am

AMZN

PDD

WMT

The U.S. Consumer Products Safety Commission (CPSC) has called for an investigation into e-commerce platforms Shein and Temu, owned by PDD Holdings Inc., over allegations of selling dangerous baby products. The probe will assess compliance with CPSC regulations and the management of third-party sellers. The use of the de minimis rule, which allows packages under $800 to avoid tariffs, is also under scrutiny. This investigation highlights the regulatory challenges faced by Chinese retailers in the U.S. market.

Portfolio Pulse from Benzinga Neuro

September 04, 2024 | 7:22 am

IVBIY

Innovent Biologics has received FDA Fast Track Designation for its bispecific antibody, IBI363, as a monotherapy for advanced melanoma. This designation could expedite the development and review process, potentially bringing the treatment to market faster.

Portfolio Pulse from Benzinga Newsdesk

September 04, 2024 | 7:08 am

BA

Boeing's Starliner spacecraft is being prepared for an uncrewed return to Earth from the ISS. Astronauts Sunita Williams and Butch Wilmore, initially launched via Starliner, will return in February on a SpaceX vehicle due to technical issues with Starliner. The spacecraft is set to undock on September 6 and land on September 7.

Portfolio Pulse from Anan Ashraf

September 04, 2024 | 6:56 am

MSFT

OpenAI CEO Sam Altman is planning a major AI infrastructure project in the U.S., potentially costing tens of billions of dollars. The project aims to form a global coalition of investors, including those from Canada, Korea, Japan, and the UAE. Microsoft, OpenAI's largest investor, is expected to participate. The project may attract scrutiny from the Committee on Foreign Investment in the U.S.

Portfolio Pulse from Ananya Gairola

September 04, 2024 | 6:29 am