Streetbeat News

Regulatory

BABA

Alibaba Group Holding Ltd (NYSE:BABA) is facing multiple challenges, including the departure of a key AI expert, Zhou Chang, and potential new U.S. sanctions on advanced semiconductor technology. Despite these challenges, Alibaba reported a 7% year-on-year increase in consolidated revenue, beating analyst expectations.

Portfolio Pulse from Anusuya Lahiri

July 19, 2024 | 11:39 am

EADSY

Airbus SE has received Type Certification from the European Union Aviation Safety Agency (EASA) for its A321XLR aircraft equipped with CFM LEAP-1A engines. This certification allows the aircraft to enter service by the end of summer. The A321XLR offers significant fuel efficiency and cost benefits, with over 500 units already ordered.

Portfolio Pulse from Nabaparna Bhattacharya

July 19, 2024 | 11:32 am

LLY

NVO

Eli Lilly's weight loss drug Zepbound (Tirzepatide) has been approved by China's National Medical Products Administration for long-term weight management. This approval could impact Eli Lilly (LLY) positively in the short term. Novo Nordisk (NVO) also received approval for its weight loss drug Wegovy in June, but faces competition as the patent for semaglutide expires in 2026.

Portfolio Pulse from Vandana Singh

July 19, 2024 | 11:26 am

AUGX

Trading halt status for AUGX was updated at 7:25:00 AM ET. The news and resumption times have been provided.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 11:25 am

GOOG

GOOGL

LYFT

UBER

Waymo, Alphabet Inc's autonomous ride-hailing service, is seeking approval to operate its robotaxis at San Francisco International Airport (SFO). Despite holding permits for other areas, SFO access requires separate approval. The process may be complex, similar to what Uber and Lyft experienced. Waymo is committed to navigating the approval process, emphasizing its expertise and demand for service. The company plans a phased approach, starting with digital mapping. Waymo has faced challenges, including recalls due to crash incidents, but claims its technology is safer than human drivers.

Portfolio Pulse from Shivani Kumaresan

July 19, 2024 | 11:12 am

GM

GM's autonomous driving unit, Cruise, has formed the Cruise Emergency Responder Advisory Council to improve interactions with emergency responders following an accident last year. The council includes various public safety organizations and aims to enhance Cruise's product development and safety processes. Cruise had suspended operations in the U.S. but resumed manual driving in Phoenix, Houston, and Dallas. The company accrued $400 million in expenses in Q1 and expects full-year expenses to be around $1.7 billion. GM is investing $850 million to cover Cruise's operating costs and is seeking external financing.

Portfolio Pulse from Anan Ashraf

July 19, 2024 | 11:02 am

BMY

Bristol Myers Squibb announced that the European Medicines Agency (EMA) has validated its Type II Variation Application for the combination of Opdivo and Yervoy as a first-line treatment for unresectable or advanced hepatocellular carcinoma.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 11:00 am

BTCUSD

Former President Donald Trump will headline a Bitcoin Conference fundraiser in Nashville, with top-tier tickets priced at $844,600. The event, scheduled for July 27, marks Trump's shift to a pro-crypto stance, contrasting with the Biden administration's skeptical approach. Trump has pledged to protect crypto rights and named J.D. Vance as his running mate, signaling support for looser crypto regulations.

Portfolio Pulse from Benzinga Neuro

July 19, 2024 | 10:57 am

AUGX

Trading for AUGX has been halted as of 6:55:00 a.m. ET pending news. Investors should stay tuned for further updates.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 10:55 am

C

DIVZ

FTXO

Citigroup Inc. (NYSE:C) has agreed to pay a $138,000 fine and $10,600 in related costs to the Bourse de Montreal for failing to report large options contract positions. Additionally, Citigroup was fined $135.6 million by the Federal Reserve Board and the Office of the Comptroller of the Currency (OCC) for non-compliance with a 2020 enforcement action. Despite these fines, Citigroup reported strong Q2 FY24 results, with revenue growth of 4% Y/Y to $20.14 billion and EPS of $1.52, both beating analyst estimates. Citigroup's stock has gained over 36% in the last 12 months.

Portfolio Pulse from Lekha Gupta

July 19, 2024 | 10:24 am