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Regulatory

JOBY

Joby Aviation Inc. (NYSE: JOBY) saw a 3.64% rise in its stock price following news of its application for air taxi certification in Australia. Despite this positive development, the stock remains in a bearish trend, down 35.16% over the past year and 20.83% year-to-date. Technical indicators suggest continued bearish pressure, although there are potential bullish opportunities for risk-tolerant investors.

Portfolio Pulse from Surbhi Jain

August 06, 2024 | 8:39 pm

PGEN

Precigen, Inc. (NASDAQ:PGEN) is strategically prioritizing its portfolio to focus on the potential launch of its gene therapy, PRGN-2012, for recurrent respiratory papillomatosis (RRP). The company is reducing its workforce by over 20% and has initiated patient enrollment in a confirmatory clinical trial for PRGN-2012, which is on track for a rolling BLA submission under an accelerated approval pathway.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 8:27 pm

AAPL

AMZN

GOOG

GOOGL

META

A recent antitrust ruling against Alphabet Inc (GOOG, GOOGL) for monopolistic practices with its search engine could influence ongoing lawsuits against other major tech companies like Meta Platforms Inc (META), Amazon.com Inc (AMZN), and Apple Inc (AAPL). Legal experts are divided on the ruling's broader impact, with some suggesting it could boost cases against these companies, while others believe it may not significantly affect them.

Portfolio Pulse from Hayden Buckfire

August 06, 2024 | 8:08 pm

ALK

BA

NTSB Chair Homendy has stated that Boeing has significant improvements to make in its safety culture. Additionally, the NTSB and Boeing have been unable to determine who removed a door plug from an Alaska Airlines 737 MAX 9.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 7:13 pm

DUK

U.S. Secretary of Energy Jennifer Granholm announced a $57 million DOE funding for a transmission rebuild project in North Carolina. The project, in partnership with Duke Energy and state agencies, aims to enhance power grid reliability and meet growing demand. The 40-mile transmission line rebuild in Wake, Johnston, and Wayne counties will benefit 14,000 customers.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 7:10 pm

EIS

SPY

The White House has stated that there is no belief of an imminent response against Israel from Iran or Hezbollah, according to the WH Press Secretary.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 7:04 pm

SPY

The White House has acknowledged economic volatility but asserts that the broader economy remains resilient. The economic team will continue to monitor the ongoing situation.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 6:57 pm

DIA

The recent sharp decline in global markets, including the Dow Jones Industrial Average and the S&P 500, is attributed to the Bank of Japan's unexpected interest rate hike, which led to the unwinding of the yen carry trade. This has caused significant market volatility and poses a dilemma for the Federal Reserve's upcoming rate decisions.

Portfolio Pulse from Michael Juliano

August 06, 2024 | 6:55 pm

AAPL

GOOG

GOOGL

A U.S. federal judge ruled that Alphabet Inc. (GOOG, GOOGL) illegally maintained monopolies in search and text advertising. This ruling could lead to a breakup of Alphabet, which analysts believe would boost its stock value. Needham analyst Laura Martin reiterated a Buy rating for Alphabet with a price target of $210, citing the potential benefits of a breakup, including higher investor appeal for pure-play assets, increased transparency, and reduced regulatory risks.

Portfolio Pulse from Nabaparna Bhattacharya

August 06, 2024 | 6:23 pm

SYK

Stryker shares are trading higher after the company announced it received FDA clearance and launched its Pangea plating system to enhance trauma care.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 6:01 pm