Streetbeat News

Regulatory

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

TIP

Economist Brad Case suggests that the Federal Reserve is unlikely to cut interest rates in September, citing strong consumer spending and income growth. He believes a rate cut may occur in November if sustained economic weakness is observed. The CME FedWatch Tool shows mixed probabilities for a rate cut in September, while betting markets predict a high chance of cuts by the end of the year. The iShares TIPS Bond ETF (NYSE:TIP) saw a slight increase, reflecting market sentiment on inflation-protected bonds.

Portfolio Pulse from Shanthi Rexaline

August 11, 2024 | 6:00 pm

NVDA

PLTR

This week in AI saw significant developments, including Palantir Technologies Inc. (NYSE:PLTR) being hailed as a leader in AI by Wedbush Securities, and Nvidia Corporation (NASDAQ:NVDA) facing issues with chip smuggling into China and production delays. Additionally, a new AI chip from China surpasses Nvidia's H100 GPU in energy efficiency.

Portfolio Pulse from Benzinga Neuro

August 11, 2024 | 1:00 pm

META

Meta Platforms (NASDAQ:META) successfully defended against an appeal by Children’s Health Defense, an anti-vaccine group founded by Robert F. Kennedy Jr., regarding alleged censorship of vaccine misinformation on Facebook. The 9th U.S. Circuit Court of Appeals ruled in favor of Meta, stating that the nonprofit failed to prove Meta was influenced by federal officials. The court also dismissed allegations against the Poynter Institute and Science Feedback.

Portfolio Pulse from Ananya Gairola

August 10, 2024 | 3:05 am