Streetbeat News

Regulatory

SPY

Fed Chair Powell has tested positive for COVID-19 and is experiencing symptoms. He is working from home and staying away from others.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:49 pm

BA

Boeing expects to deliver the rest of its inventory by year-end and is seeing early signs of factory and supply chain stabilization. The CEO will meet with the FAA in a couple of weeks to present the final plan after the agency's 90-day deadline.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:39 pm

MDT

Medtronic announced that its OmniaSecure defibrillation lead met primary safety and effectiveness endpoints in the global LEADR Pivotal Trial, exceeding prespecified performance goals. The results were presented at Heart Rhythm 2024 and published in Heart Rhythm journal.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:37 pm

BA

Boeing CEO emphasized that the safety review is just the beginning, not the end, during the annual meeting.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:35 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares are trading higher, up more than 5% over the past five days. Key developments include plans to develop a self-driving system with data processed within China, approval to expand its Berlin gigafactory, and a 10% workforce reduction in Norway. Tesla shares are trading above the 50-day moving average but below the 52-week high.

Portfolio Pulse from Erica Kollmann

May 17, 2024 | 3:32 pm

SOLUSD

Solana-based meme coin platform Pump.Fun was exploited for $1.9M by a former employee using flash loans. The platform has halted trading, redeployed contracts, and pledged to repay users. The incident affected a small portion of the platform's total liquidity pool.

Portfolio Pulse from Murtuza Merchant

May 17, 2024 | 3:27 pm

BABA

PDD

ZTO

Shares of US-listed Chinese stocks are trading higher after China unveiled measures to support the property sector.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:14 pm

LCID

LI

NIO

RIVN

TSLA

VFS

XPEV

J.P. Morgan projects a 20%-23% YoY growth in global EV sales for 2024, led by China-based companies like Nio, XPeng, and Li Auto. The focus is on battery innovation, fast charging, and cost reductions. U.S. tariffs on Chinese exports will impact material costs for U.S. EV makers like Tesla and Rivian.

Portfolio Pulse from Surbhi Jain

May 17, 2024 | 3:05 pm

CBSTF

CGC

TCNNF

President Joe Biden's announcement to reschedule marijuana from a Schedule I to a Schedule III drug under federal law is seen as a significant milestone for the cannabis industry. Shavo Odadjian, founder of 22Red, and other industry leaders like David Klein (Canopy Growth) and Kim Rivers (Trulieve) have expressed optimism about the move, which is expected to alleviate tax burdens and foster industry growth.

Portfolio Pulse from Javier Hasse

May 17, 2024 | 2:48 pm

BABA

KWEB

PDD

China's government has introduced aggressive measures to rescue its struggling property market, including easing mortgage regulations and urging local governments to purchase unsold homes. This has led to a rally in Chinese stocks and commodities, with significant gains for real estate developers and tech stocks. Copper prices also hit all-time highs.

Portfolio Pulse from Piero Cingari

May 17, 2024 | 2:37 pm