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Ripple CEO Brad Garlinghouse criticized SEC Chair Gary Gensler's approach to crypto regulation at the World Economic Forum in Davos. Garlinghouse called Gensler a 'political liability' and expressed concerns about the U.S. falling behind in crypto regulation. He mentioned the possibility of an IPO for Ripple but stated it is not an immediate priority. Garlinghouse also commented on the approval of Bitcoin ETFs and the potential for other crypto-based ETFs.

Portfolio Pulse from Mehab Qureshi

January 17, 2024 | 3:54 am

INTC

JPM

Chinese Premier Li Qiang met with business leaders, including JPMorgan's Jamie Dimon, at the World Economic Forum in Davos to attract foreign investment. Li emphasized China's stability and potential for high returns, promising a fair business environment despite recent economic challenges and a significant drop in foreign investment in China's stock market.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 3:04 am

AMD

BABA

DWAC

SAVE

TSLA

U.S. stock market declined on Tuesday with major indices in the red. Digital World Acquisition Corp (DWAC) surged 29.04% due to Trump's lead in the Iowa caucus. AMD rose 8.31% on KeyBanc's positive outlook. Spirit Airlines (SAVE) plummeted 47.09% after a blocked acquisition by JetBlue. Alibaba (BABA) fell 3.31% amid concerns about Chinese internet firms. Tesla (TSLA) had a modest gain of 0.47%, despite market concerns and Musk's comments on AI.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 1:44 am

JBLU

SAVE

President Joe Biden praised a federal judge's decision to block the merger between Spirit Airlines Inc. (SAVE) and JetBlue Airways Corporation (JBLU), citing the ruling as a victory for consumers seeking lower prices and more options. The $3.8 billion deal was opposed by the Justice Department due to concerns over reduced competition and increased airfares. Following the decision, Spirit's shares plummeted by 47.09%, while JetBlue's shares rose by 4.9%.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 12:52 am

UNRV

Unrivaled Brands, Inc. (OTCQB:UNRV) has completed a strategic reorganization, with Blum Holdings, Inc. becoming its parent company. UNRV implemented a 1-for-100 reverse stock split of its common stock on Jan. 12. Post-reorganization, UNRV shares have converted to Blüm's common stock, which will trade under the symbol 'BLMH' on the OTCQB. The company's Q3 financials showed a revenue drop of 11.4% YoY to $8.6 million, but a reduced net loss of $3.4 million compared to the previous year's $119.9 million. UNRV shares were down 7.41% at $0.0075 per share.

Portfolio Pulse from Jelena Martinovic

January 16, 2024 | 11:17 pm

VSAC

Vision Sensing Acquisition Corp (VSAC) has entered into a definitive agreement and plan of merger with Mediforum, a transaction valued at $250 million. Under the terms of the agreement, Mediforum will receive 25 million shares of VSAC at a price of $10 per share.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 10:37 pm

BRK.A

BRK.B

Pilot Corporation has sold its remaining 20% interest in Pilot Travel Centers to Berkshire Hathaway Inc. The Haslam Family, founders of Pilot, expressed it was an emotional but right decision for them. Pilot, started in 1958, has grown to be the largest operator of travel centers in North America. The financial terms of the sale were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:12 pm

GPRO

GoPro, Inc. (NASDAQ:GPRO) has announced its intention to acquire Forcite Helmet Systems, a company specializing in embedding technology into helmets. The acquisition aims to enhance the safety and performance of motorcycle helmets and potentially other helmet categories in the future. GoPro plans to develop its own branded line of helmets and also partner with other leading helmet brands. The acquisition is expected to close in Q1 of 2024, with more details to be shared during GoPro's Q4 and 2023 earnings call on February 7, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:08 pm

CVGW

Calavo Growers, Inc. is currently assessing the possibility of selling its Fresh Cut business segment. This evaluation is part of the company's strategic initiatives to optimize its operations and focus on its core businesses.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:07 pm

COIN

Coinbase Global, Inc. (NASDAQ:COIN) CEO Brian Armstrong discussed the impact of Bitcoin ETF approvals on the company, stating it's a positive development. Despite a recent 16% drop in COIN shares post-approval, the stock is still up over 77% in the last three months. Armstrong highlighted Coinbase's role as custodian for 10 of the 13 Bitcoin ETF applications, which could bring modest custody fees. Ark Invest sold 31,281 shares of Coinbase, while Wedbush analyst Moshe Katri upgraded COIN's price target from $110 to $180, maintaining an Outperform rating.

Portfolio Pulse from Erica Kollmann

January 16, 2024 | 9:07 pm