Streetbeat News

Regulatory

CVX

HES

Senate Majority Leader Chuck Schumer has urged the FTC to reconsider the proposed $53 billion merger between Chevron Corp and Hess Corp, citing concerns over potential gas price increases. Schumer's call for scrutiny follows the FTC's request for additional information from both companies, as the merger could significantly impact consumer prices and market competition.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 6:40 am

ZLAB

Zai Lab (ZLAB) received approval from China's National Medical Products Administration for AUGTYRO (repotrectinib) for treating patients with ROS1-Positive NSCLC. The approval was based on the TRIDENT-1 trial, which showed high response rates and durable responses, including robust intracranial responses.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 6:30 am

BTCUSD

El Salvador has launched a platform to publicly display its Bitcoin treasury holdings, enhancing transparency. The country holds 5,748.76 Bitcoins, valued over $300 million. This move underscores El Salvador's commitment to Bitcoin, having adopted it as legal tender in 2021 and planning to buy one Bitcoin daily.

Portfolio Pulse from Aniket Verma

May 13, 2024 | 5:10 am

HAS

Elon Musk compared the Federal Reserve's operations to the bankruptcy rules of Hasbro's Monopoly game, suggesting similarities in how both handle a lack of funds. This comparison comes amid scrutiny of the Fed's monetary policies and concerns over national debt and inflation, potentially impacting the U.S. economy.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 3:52 am

IWM

Representative Ro Khanna (D-Calif.) disclosed multiple stock trades while advocating for a ban on stock trading by Congress members. The trades include significant sales in iShares Russell 2000 ETF (IWM) and GE Aerospace (GE), raising questions about potential conflicts of interest. Khanna argues that his portfolio is managed by third-party advisors, likening it to an index fund, and emphasizes his support for the Trust Act to ban stock trading by Congress members.

Portfolio Pulse from Chris Katje

May 12, 2024 | 2:54 pm

BABA

Alibaba Group Holding Limited (NYSE:BABA) is set to release its Q4 earnings, amidst challenges from regulatory crackdowns, economic downturns, and competition. The company's market cap has significantly dropped from its peak in October 2022. Efforts to revitalize the company included restructuring into six businesses and leadership changes, with a recent focus on generative AI technology. Analysts expect Q4 earnings of $1.41 per share on $30.42 billion in revenue, compared to the previous year's $1.50 per share and $29.15 billion.

Portfolio Pulse from Shanthi Rexaline

May 12, 2024 | 1:51 pm

AAPL

KARS

RIVN

TSLA

This week in the EV sector saw Tesla grappling with executive departures and sales challenges in China, Rivian's earnings surpassing estimates amidst Apple partnership rumors, Fisker's Austrian unit filing for bankruptcy, and the Biden administration planning to impose tariffs on Chinese EV imports. Ford revisited its European EV transition plan, and the KraneShares Electric Vehicles ETF saw a decline.

Portfolio Pulse from Shanthi Rexaline

May 11, 2024 | 1:37 pm

DIS

HTZ

NVDA

PLTR

SBUX

Benzinga's weekly review highlights bullish and bearish perspectives on stocks like Nvidia, Starbucks, Palantir, and insights into meme coin investments. Key financial indicators and upcoming events, such as the Consumer Price Index report and a speech by the Federal Reserve Chair, are also noted. Bullish views include Palantir's buying opportunity post-Q1 earnings, Disney's DTC unit's profitability, and an investor's success with meme coins. Bearish takes involve Hertz's wrongful Tesla refueling charge, Starbucks' sales slump due to Middle Eastern policy backlash, and a significant Nvidia stake sale by a former Soros fund manager.

Portfolio Pulse from Michael Cohen

May 11, 2024 | 1:25 pm

TSLA

Wedbush analyst Dan Ives predicts China will retaliate against the U.S. if tariffs on electric vehicle imports from China are increased. The Biden administration plans to raise tariffs on China's EVs from 25% to around 100%, with an additional 2.5% duty on all imported cars. This move could challenge Tesla Inc. and other U.S. automakers in the EV market and escalate trade tensions.

Portfolio Pulse from Anan Ashraf

May 11, 2024 | 9:20 am

CURLF

TCNNF

Beacon Securities and Needham reports highlight Q1 2024 financials for Curaleaf and Trulieve, respectively, with Curaleaf posting $339M in revenue and Trulieve $297.6M. Both companies are navigating regulatory changes positively, with Curaleaf focusing on strategic financial management and Trulieve on operational strengths and market opportunities. Legislative changes are expected to further benefit both companies.

Portfolio Pulse from Nicolás Jose Rodriguez

May 10, 2024 | 10:42 pm