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Regulatory

ASX

TSM

UMC

Nvidia, Apple supplier TSMC, and other US-listed Taiwan stocks, including UMC and ASE Technology, are trading lower in the pre-market after President Joe Biden announced his withdrawal from the presidential race. TSMC shares dropped 1.25%, UMC fell 1.28%, and ASE Technology dipped 0.73%. The Taiex index also plummeted almost 700 points.

Portfolio Pulse from Pooja Rajkumari

July 22, 2024 | 10:10 am

TSLA

Elon Musk clarified that neither Tesla nor SpaceX has any business interests in Russia. He also criticized podcast host Sam Harris. Musk emphasized that SpaceX competes with Russia's Roscosmos and that Starlink is a key asset for Ukraine.

Portfolio Pulse from Anan Ashraf

July 22, 2024 | 10:04 am

ZYME

Zymeworks announced that the FDA has cleared its Investigational New Drug (IND) application for ZW191, a novel folate receptor-⍺ targeted topoisomerase I inhibitor antibody-drug conjugate. The company plans to seek regulatory authorization for clinical studies outside the US in the second half of 2024. ZW191 is the first of three ADC molecules incorporating Zymeworks' proprietary ZD06519 payload, with additional IND filings for ZW220 and ZW251 expected in 2025.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 10:02 am

DIS

GOOG

GOOGL

INDA

India's antitrust body has sent 100 questions to Reliance and Disney regarding their $8.5 billion merger in India. The body is also questioning why YouTube should be considered in the same market as other streaming services.

Portfolio Pulse from charles@benzinga.com

July 22, 2024 | 9:35 am

AAPL

CRWD

MSFT

Microsoft has attributed its inability to secure Windows like Apple secures macOS to a prior agreement with the European Commission. This agreement mandates that Microsoft provide security software makers with the same level of access to Windows as it has, unlike Apple, which does not have to adhere to such restrictions. The revelation follows a major incident where a defective update from CrowdStrike caused widespread disruptions.

Portfolio Pulse from Rounak Jain

July 22, 2024 | 8:42 am

TSLA

Tesla's weak performance is attributed to its own price cuts rather than Biden's policies, according to fund manager Gary Black. The $7,500 EV tax credit under Biden has been beneficial for Tesla. Analysts are divided on the impact of a potential Trump presidency on Tesla, with some seeing it as a negative for the EV industry but potentially advantageous for Tesla due to its scale.

Portfolio Pulse from Shanthi Rexaline

July 22, 2024 | 7:54 am

NVDA

Nvidia Corp. (NASDAQ:NVDA) is developing a new AI chip, the B20, for the Chinese market to comply with U.S. export controls. This move follows tightened U.S. semiconductor export restrictions to China. Nvidia is collaborating with Inspur for the chip's distribution, aiming to counter competition from Huawei and Enflame. Despite sanctions, Nvidia's H20 chip is expected to sell over 1 million units in China this year, generating over $12 billion.

Portfolio Pulse from Benzinga Neuro

July 22, 2024 | 7:46 am

TSLA

Tesla's Full Self-Driving (FSD) technology will allow users to wear sunglasses starting with version 12.5, as announced by CEO Elon Musk. This update addresses the current issue where the attention monitoring system struggles with sunglasses. The rollout of version 12.5 has been delayed, with the latest version being 12.4.3. Regulatory approval remains a key hurdle for fully autonomous vehicles.

Portfolio Pulse from Anan Ashraf

July 22, 2024 | 7:42 am

TSLA

Tesla Inc (NASDAQ:TSLA) aims to start selling its Cybertruck in Canada this year, with pre-orders available for $150. Transport Canada has granted approval for the vehicle's steel-by-wire system, marking an important milestone despite additional regulatory requirements.

Portfolio Pulse from Anan Ashraf

July 22, 2024 | 6:04 am

VALN

Valneva has secured up to $41.3 million from CEPI and the European Union to expand access to its chikungunya vaccine, IXCHIQ®. The funding will support clinical trials in vulnerable groups and technology transfer to an additional manufacturer for supply to Asian LMICs. IXCHIQ® is already approved for adults in the U.S., Canada, and Europe.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 6:02 am