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Regulatory

ETHUSD

PYPL

SOLUSD

PayPal (NYSE:PYPL) has launched its PYUSD stablecoin on the Solana blockchain, known for its high transaction speed and low fees. Initially launched on Ethereum, PYUSD aims to expand its usage to retail payments and emerging markets. Despite regulatory scrutiny and technical challenges, PayPal remains confident in Solana's stability and plans to add PYUSD to more blockchains in the future.

Portfolio Pulse from Murtuza Merchant

May 29, 2024 | 4:24 pm

AAUKF

BHP

BHP's $49.2-billion acquisition attempt of Anglo American has failed due to the complexity of the deal, particularly regarding Anglo's South African assets. The deal's collapse highlights the challenges posed by regulatory and socio-economic factors in South Africa.

Portfolio Pulse from Stjepan Kalinic

May 29, 2024 | 3:54 pm

BHP

BHP Group has decided not to make a firm offer for Anglo American due to disagreements on South African regulatory risks and costs. BHP maintains that their proposal was the most effective structure to deliver value for Anglo American shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 3:17 pm

NOK

VGK

Russian President Vladimir Putin has authorized a subsidiary of Rostelekom to buy out Nokia Solutions and Networks' stake in their joint venture, according to Reuters citing IFAX.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 3:13 pm

CVX

HES

Chevron CEO Michael Wirth expects progress on the FTC proposal regarding the proposed deal with Hess in the coming weeks and is confident that their position will be affirmed in arbitration.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 3:12 pm

SMID

Smith-Midland has received a letter from Nasdaq indicating that the company has regained compliance with its Form 10-K report for the year ended December 31, 2023. However, the company is still not in compliance with Nasdaq Listing Rule 5250(c)(1).

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 3:07 pm

FLYX

FlyExclusive shares are trading higher after the company received a notice from the NYSE.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 2:56 pm

RSLS

ReShape Lifesciences, Inc. (NASDAQ:RSLS) shares surged on Wednesday following the approval of its patent for an intragastric device designed to treat obesity. The device is a swallowable implant that expands in the stomach to induce fullness and restrict food intake. The stock is trading on abnormally high volume, significantly above its average session volume.

Portfolio Pulse from Dylan Berman

May 29, 2024 | 2:47 pm

AAPL

AMZN

BTCUSD

GLD

GOOG

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

The stock market is under pressure due to soft Treasury auctions and potential rate hikes. Money flows are neutral in NVIDIA and Apple, but negative in Amazon, Alphabet, Meta, Microsoft, Tesla, SPDR S&P 500 ETF Trust, and Invesco QQQ Trust. The momo crowd is buying oil and selling gold, while smart money is inactive. Bitcoin may see a significant drop due to potential Mt. Gox-related sales.

Portfolio Pulse from The Arora Report

May 29, 2024 | 2:42 pm

COP

MRO

ConocoPhillips' CEO expressed optimism about the company's deal with Marathon Oil, describing it as 'pretty clean' in terms of regulatory approval. The CEO is encouraged by the FTC's comments that oil is a global market.

Portfolio Pulse from Benzinga Newsdesk

May 29, 2024 | 2:41 pm