Streetbeat News

Regulatory

TSLA

Elon Musk acknowledged that Tesla's naming conventions for its Full Self-Driving (FSD) software versions are becoming 'a bit silly.' Tesla recently rolled out version 12.5.1.3 of its FSD software, which includes both major upgrades and minor enhancements. Musk also mentioned that Tesla has a 'clear path' to improving FSD performance and plans to release several versions in quick succession. The fully autonomous FSD technology is still pending technological advancements and regulatory approval.

Portfolio Pulse from Anan Ashraf

August 12, 2024 | 10:11 am

SCPH

The FDA has approved scPharmaceuticals' supplemental new drug application to expand the indication for Furoscix. Previously indicated for NYHA Class II and III chronic heart failure patients, Furoscix can now be used for all classes, including Class IV.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 10:06 am

GOOG

TSLA

Tesla's long-term success hinges on the deployment of its robotaxi service, which relies on its Full Self-Driving (FSD) technology. A poll by Gary Black of Future Fund LLC revealed that nearly 50% of respondents expect FSD approval by 2025. Tesla's latest FSD version, 12.5.1.3, is rolling out, but regulatory approval is complex and state-specific. Tesla's robotaxi network will likely roll out in stages, with significant infrastructure and licensing requirements.

Portfolio Pulse from Shanthi Rexaline

August 12, 2024 | 10:01 am

TSLA

Former Tesla executive Rohan Patel stated that the Inflation Reduction Act (IRA) passed by the Democratic Party has significantly benefited Tesla, contrary to claims that the company was sidelined. Tesla's involvement in various incentivized activities under the IRA, such as solar deployment and battery manufacturing, puts it in a favorable position compared to legacy automakers. Despite Tesla CEO Elon Musk's endorsement of Donald Trump, the Democratic Party has continued to support Tesla. Musk believes that the elimination of EV subsidies, as proposed by Trump, would slightly impact Tesla but devastate its competitors.

Portfolio Pulse from Anan Ashraf

August 12, 2024 | 9:15 am

LIPO

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) has started dosing patients in its Phase 2a clinical trial for LP-310, a treatment for Oral Lichen Planus (OLP). The trial involves adult subjects with OLP, a chronic inflammatory condition affecting the mouth. The study is expected to conclude in mid-2025, with top-line data anticipated by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 9:01 am

HYMTF

MBGAF

VWAGY

South Korea is considering a mandate for automakers to disclose the brands of batteries used in their EVs following a recent fire incident involving a Mercedes-Benz EV. This move aims to address rising safety concerns and could impact automakers like Hyundai, Mercedes-Benz, and Volkswagen.

Portfolio Pulse from Benzinga Neuro

August 12, 2024 | 8:41 am

QQQ

SPY

Veteran investor David Roche predicts a bear market in 2025 due to a sluggish U.S. economy, an AI bubble, and insufficient rate cuts by the Federal Reserve. Despite recent market sell-offs, Roche expects the Fed to proceed with interest rate cuts, impacting profit margins throughout 2025. The SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ Trust (QQQ) showed gains last week, erasing earlier losses.

Portfolio Pulse from Benzinga Neuro

August 12, 2024 | 7:28 am

GOOG

GOOGL

TSLA

Waymo, a subsidiary of Alphabet Inc., has been causing disturbances in a San Francisco parking lot with its autonomous vehicles honking for extended periods. The company is aware of the issue and is working on a solution. This comes at a crucial time as Alphabet recently invested $5 billion in Waymo to bolster its technology and commercialization efforts. Waymo's performance sets a high standard for competitors like Tesla, which must meet similar metrics for regulatory approval of their robotaxi services.

Portfolio Pulse from Benzinga Neuro

August 12, 2024 | 6:36 am

SDZNY

Sandoz has received FDA approval for Enzeevu, a biosimilar to treat neovascular age-related macular degeneration. This approval strengthens Sandoz's ophthalmology portfolio in the U.S. and is expected to drive significant growth.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 5:44 am

META

Meta's Instagram is back online in Turkey after a nine-day ban. The Turkish government lifted the ban following Instagram's agreement to comply with local demands. The ban was initially imposed due to Instagram's alleged non-compliance with Turkish laws, particularly regarding posts about the assassinated Hamas leader Ismail Haniyeh.

Portfolio Pulse from Ananya Gairola

August 12, 2024 | 1:35 am