Streetbeat News

Regulatory

VFS

VinFast Auto Ltd. (NASDAQ: VFS) shares are trading slightly lower premarket as the company considers postponing its $4 billion factory in North Carolina due to challenges in appealing to American consumers. The factory, initially planned for completion in July 2024, was already delayed to 2025 and may face further delays. VinFast sold fewer than 1,000 cars in North America last year and is currently reviewing all aspects of the construction process.

Portfolio Pulse from Nabaparna Bhattacharya

May 29, 2024 | 10:51 am

AAUKF

BHP

BHP Group has requested an extension beyond the 4 PM GMT deadline to finalize its $50 billion takeover bid for Anglo American. The extension is needed due to the complex structure of the deal and ongoing negotiations over South African assets. Key shareholders support extending the talks.

Portfolio Pulse from Stjepan Kalinic

May 29, 2024 | 10:45 am

AFMD

Affimed announced that the FDA has granted Fast Track Designation to its combination therapy AFM24 with Atezolizumab for treating advanced and/or metastatic EGFR wild-type non-small cell lung cancer (NSCLC). Data from the AFM24-102 study will be presented at the American Society of Clinical Oncology meeting on June 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 10:32 am

ARKK

ETHUSD

Cathie Wood's Ark Invest sees significant legislative progress for the crypto industry with the passing of the FIT21 bill in the House and the potential start of Ethereum ETFs trading. The bill's bipartisan support and the White House's decision not to veto it could lead to a robust regulatory framework for digital assets.

Portfolio Pulse from Aniket Verma

May 29, 2024 | 9:41 am

SOLUSD

Caitlyn Jenner reaffirmed her support for the JENNER cryptocurrency, emphasizing it as a long-term project despite initial market volatility. The coin, launched on the Solana-based memecoin launchpad pump.fun, has seen a 7% decline since its debut but has amassed a market cap of $18.36 million. Jenner hinted at major news coming soon, although skepticism arose after she claimed being scammed by a middleman.

Portfolio Pulse from Aniket Verma

May 29, 2024 | 7:30 am

FFIE

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) faced a significant drop in after-hours trading due to disappointing financial results and a warning letter from the SEC. The company reported a revenue of $0.8 million for fiscal year 2023, far below analyst estimates, and a net loss of $432 million. Faraday Future also received a delisting threat from Nasdaq for late filing of its 10-Q report. Despite these challenges, Reddit users are rallying to support the stock, reminiscent of previous meme stock surges.

Portfolio Pulse from Shanthi Rexaline

May 29, 2024 | 7:05 am

GOOG

GOOGL

YouTube users with ad blockers are experiencing videos skipping to the end or endless loading when trying to skip to a specific part. This issue only occurs with ad blockers enabled, leading to speculation that YouTube is discouraging ad blocker use. YouTube has been cracking down on ad blockers, prompting users to disable them or pay a fee.

Portfolio Pulse from Ananya Gairola

May 29, 2024 | 6:14 am

TSLA

Tesla Inc. (NASDAQ:TSLA) is offering tours of its Giga Texas factory to select shareholders who vote on CEO Elon Musk's rescinded $56 billion pay package. The vote will also determine if Tesla's state of incorporation will move from Delaware to Texas. The results will be announced at the annual shareholder meeting on June 13. Morgan Stanley analyst Adam Jonas predicts material volatility in Tesla's stock due to the meeting.

Portfolio Pulse from Anan Ashraf

May 29, 2024 | 5:48 am

PFE

RHHBY

Roche's Genentech has been granted Priority Review by the FDA for Inavolisib, an investigational oral therapy, in combination with Palbociclib (Ibrance) and Fulvestrant. The FDA decision is expected by November 27, 2024. This regimen targets PIK3CA-mutated, HR-positive, HER2-negative, locally advanced or metastatic breast cancer.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 5:08 am

DJT

Devin Nunes, CEO of Trump Media & Technology Group Corp (NASDAQ:DJT), has raised concerns about alleged stock manipulation with the Louisiana Office of Financial Institutions. Nunes highlighted that DJT’s stock has been on the Nasdaq Reg SHO Threshold List since April 2, indicating potential illegal 'naked' short-selling activities. Over the past 30 trading days, DJT shares have seen significant failures to deliver (FTDs), with SEC data showing over 1 million FTDs on eleven separate trading days between April 9 and April 30. Nunes has called for an investigation into potential illegal collusion among market participants. Despite these concerns, DJT stock surged by nearly 9% on Tuesday but dipped by 2.10% in after-hours trading.

Portfolio Pulse from Kaustubh Bagalkote

May 29, 2024 | 3:05 am