Streetbeat News

Regulatory

SMCI

Super Micro Computer, Inc. (NASDAQ:SMCI) launched a new high-density AI infrastructure platform, causing its stock to initially rise but then fall. The company is under pressure due to a DOJ probe following a short report alleging inappropriate revenue recognition. SMCI shares are down 5.97%.

Portfolio Pulse from Erica Kollmann

October 08, 2024 | 2:55 pm

EWW

FXI

Mexico aims to reduce its reliance on Chinese imports by encouraging U.S. companies and other global manufacturers to produce goods locally. This move is part of a strategy to strengthen domestic supply chains amid rising trade tensions between the U.S. and China.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:55 pm

MSOS

SPY

Emily Paxhia of Poseidon Investment Management discusses their efforts in the legislative process for cannabis laws, with a case potentially reaching the Supreme Court by next summer.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:54 pm

MCD

TSN

McDonald's has filed a lawsuit against major beef producers, including JBS and Tyson Foods, accusing them of price-fixing to inflate beef prices. The lawsuit claims these companies conspired to limit beef supplies, causing McDonald's to pay higher prices. This legal action is part of broader antitrust proceedings involving multiple plaintiffs.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:51 pm

MSOS

TSNDF

TerrAscend's Executive Chairman, Jason Wild, argues that state leader cannabis operators should not be considered in violation of the Controlled Substance Act and should be treated like any other industry. He emphasizes the importance of winning a case that would eliminate the 280E tax code, which currently affects cannabis companies.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:51 pm

MSOS

SPY

The Supreme Court has ruled in favor of state rights, upholding a previous decision that did not protect intra-state commerce from federal interference. This decision is significant for the cannabis industry, as it may impact how state laws interact with federal regulations.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:49 pm

BA

The U.S. Federal Aviation Administration (FAA) has issued a safety alert to airlines regarding the potential for jammed rudders in certain Boeing 737 airplanes. This alert is crucial for ensuring the safety and operational integrity of these aircraft.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:45 pm

WYNN

Wynn Resorts shares fell by 2.97% due to a major selloff in Chinese markets, driven by disappointment over the lack of bold fiscal stimulus from the Chinese government. This raises concerns about the recovery of Macau's gaming sector, where Wynn generates significant revenue.

Portfolio Pulse from Henry Khederian

October 08, 2024 | 2:43 pm

GK

MSOS

Investor Ross Gerber of Gerber Kawasaki expresses interest in working with cannabis companies once legalization occurs. He aims to position his firm as a key investment partner in the cannabis industry, highlighting the interest of young investors in this sector.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:40 pm

GOOG

GOOGL

Google is set to enforce new requirements for advertisers promoting financial services in Ireland, New Zealand, South Korea, and Thailand. The updated financial services verification process policy will be implemented starting November 7.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:39 pm