Streetbeat News

Regulatory

FAT

Fat Brands Inc (NASDAQ:FAT) and its chair Andrew Wiederhorn have been charged by the Justice Department for concealing $47 million in distributions as shareholder loans, evading taxes, and defrauding investors. The charges include wire fraud, tax evasion, and breaches of the Sarbanes-Oxley Act. The SEC has also filed a civil enforcement action against Wiederhorn, FAT's former CFO, and another executive. FAT Brands' stock has plummeted 23.3% in response to these allegations.

Portfolio Pulse from Shivani Kumaresan

May 10, 2024 | 6:49 pm

SPY

Fed's Kashkari has stated that while the bar for another rate hike is high, it cannot be completely ruled out, according to CNBC.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 6:26 pm

SPY

VGK

The White House is actively working to support Ukraine against Russian attacks, acknowledging the possibility of Russian advances but not expecting major breakthroughs. This situation underscores the ongoing geopolitical tensions and their potential impact on global markets.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 6:25 pm

SPY

Fed's Kashkari expresses caution regarding the restrictiveness of current monetary policy, indicating a 'wait and see' approach to future policy decisions.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 6:21 pm

EIS

USO

A senior official from Hamas has stated that the organization has not suspended or withdrawn from negotiations, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 6:11 pm

SPY

Fed's Goolsbee highlights housing as a significant puzzle and challenge in achieving 2% inflation. He suggests an 'optimistic lane' if housing inflation decreases.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:36 pm

EWZ

UNG

Brazil's state-controlled oil company, Petrobras, has received approval for new commercial arrangements concerning the sale of natural gas. These arrangements are expected to potentially lower the price of natural gas for distributors, according to a statement cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:34 pm

SPY

Fed's Goolsbee expresses hesitancy to overemphasize recent inflation data, highlighting significant progress made. This stance suggests a cautious approach to future monetary policy adjustments, potentially impacting market expectations and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:19 pm

SPY

In a recent speech, the Federal Reserve's Goolsbee emphasized that the current monetary policy is relatively restrictive. He highlighted the Fed's commitment to controlling inflation and ensuring economic stability. This stance suggests a cautious approach to interest rate changes, potentially impacting investor sentiment and market dynamics.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:16 pm

SPY

In a recent statement, Federal Reserve Bank of Chicago President Austan Goolsbee remarked that the economy has encountered an inflation bump this year, suggesting a period of observation is now necessary to assess the impact. This comment implies a cautious approach to future monetary policy decisions, potentially affecting market expectations and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 5:15 pm