Streetbeat News

Regulatory

CI

HUM

SPY

UNH

The Centers for Medicare & Medicaid Services (CMS) plans to revise the quality ratings of Medicare Advantage plans, potentially resulting in hundreds of millions in additional bonus payments for insurers. The announcement is expected as soon as Thursday.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 6:53 pm

SPY

President Biden held a joint press conference with President Zelenskyy of Ukraine, discussing ongoing support and collaboration between the two nations.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 6:47 pm

SONY

Valve Corporation faces an $836 million lawsuit in the U.K. for allegedly overcharging 14 million gamers and engaging in anti-competitive practices on its Steam platform. The claim, led by digital rights campaigner Vicki Shotbolt, accuses Valve of market rigging and imposing high commissions on publishers.

Portfolio Pulse from Franca Quarneti

June 13, 2024 | 6:29 pm

AIRR

EWJ

EWY

VCR

VGT

XLK

XLY

Former President Donald Trump proposed eliminating income taxes in favor of an 'all tariff policy' to CEOs and GOP lawmakers. This policy could significantly impact sectors reliant on imports, such as consumer discretionary and technology, while potentially benefiting domestic manufacturing and international manufacturers outside of China.

Portfolio Pulse from Hayden Buckfire

June 13, 2024 | 6:07 pm

GOOG

GOOGL

Geoffrey Hinton, known as the 'Godfather of AI,' has issued a grave warning about the potential risks of artificial intelligence, predicting a 50-50 chance that AI could surpass human intelligence and potentially 'wipe out' humanity within 5 to 20 years. Hinton, a former Alphabet employee, emphasizes the need for government regulation to control AI development and prevent existential threats.

Portfolio Pulse from Chris Katje

June 13, 2024 | 6:00 pm

FXI

KRE

XLF

Treasury Secretary Yellen has expressed concerns over the stability of smaller banks and the impact of sanctions. Large financial firms are working to comply with Russia sanctions, while major Chinese banks emphasize the importance of correspondent relationships. Smaller banks are focused on maintaining access to the dollar.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:57 pm

FXI

MSFT

Microsoft President Brad Smith announced that the company has been reducing its engineering presence in China. This move is part of a broader strategy to manage geopolitical risks and align with global operational priorities.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:50 pm

SPY

VGK

President Biden and Ukraine's President Zelenskiy have signed a 10-year U.S.-Ukraine security agreement aimed at bolstering Ukraine's defense. This agreement is expected to enhance military cooperation and support between the two nations.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:32 pm

BMY

Bristol-Myers Squibb (BMY) has received FDA accelerated approval for its drug Repotrectinib.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:14 pm

EIS

SPY

USO

President Biden remains optimistic about a potential Middle East deal but does not foresee a ceasefire in the near future. This ongoing conflict could impact various sectors, including energy and defense.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 5:11 pm