Streetbeat News

Regulatory

PLL

Piedmont Lithium, a supplier to Tesla, has been officially granted a state mining permit by North Carolina after posting a $1M reclamation bond. However, the company still needs to obtain a local zoning variance from Gaston County officials to proceed with its lithium mine project.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 4:37 pm

IXHL

Incannex Healthcare Inc. (NASDAQ:IXHL) announced the successful completion of a pre-investigational new drug meeting with the FDA for CannQuit-O, a treatment for opioid use disorder combining CBD and an opioid antagonist. The FDA provided feedback and recommendations for the clinical development strategy. Incannex has partnered with Eurofins Scientific to manufacture this and another product aimed at treating nicotine disorders. The company's shares rose 9.09% to $2.52 following the announcement.

Portfolio Pulse from Jelena Martinovic

May 07, 2024 | 4:35 pm

SPY

USO

The U.S. Energy Information Administration (EIA) forecasts the Brent crude spot price to average around $90 per barrel for the remainder of 2024, attributing this to OPEC+ oil production cuts and ongoing geopolitical risks, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 4:22 pm

BIDU

FXI

TSLA

Tesla is set to test its 'Robotaxi' in China, despite a source close to Baidu indicating no new deal related to Full Self-Driving (FSD) functions between Tesla and Baidu. This development suggests Tesla's continued expansion in autonomous driving technology in China without necessarily partnering with Baidu for FSD functionalities.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 4:21 pm

REFI

Chicago Atlantic Real Estate Finance (NASDAQ:REFI), a cannabis-focused REIT, reported a net income dip in Q1 2024, with net interest income falling 10.8% sequentially to $13.2 million due to the absence of prepayment fees. Total expenses decreased by 28.4%, and net income per share dropped 7.8%. The company saw a slight increase in book value per share to $14.97 and reaffirmed its 2024 outlook. Portfolio growth remained strong, with total loan commitments exceeding $401.3 million. The DEA's potential rescheduling of cannabis could significantly benefit the industry and REFI's shareholders.

Portfolio Pulse from Patricio Liddle

May 07, 2024 | 4:18 pm

AMZN

GOOG

GOOGL

META

RUM

SNAP

SPY

TikTok and its parent company ByteDance have filed a lawsuit against the Biden administration to block a law that mandates the divestiture or ban of the short video app, claiming the law will inevitably lead to TikTok's shutdown on January 19.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 4:02 pm

CXXIF

C21 Investments Inc. has completed a non-brokered private placement offering, raising CA$4 million through convertible debenture units to fund the acquisition of Deep Roots Harvest, Inc.'s assets in Nevada for $3.5 million. The proceeds will support the purchase of a retail cannabis dispensary in Southern Reno, Nevada, by C21's subsidiary, Silver State Relief, LLC. The deal includes a $100,000 non-refundable deposit and a $3.4 million payment at closing. Meanwhile, potential cannabis rescheduling discussions by the Nevada Supreme Court and on a federal level could impact the industry.

Portfolio Pulse from Jelena Martinovic

May 07, 2024 | 4:01 pm

HMC

Honda Motor (HMC) is partnering with Teito Motor Transportation and Kokusai Motorcars to launch self-driving taxis in Tokyo by 2026. This collaboration, which divides operation and support, is a departure from the all-in-one model seen in the U.S. and China. Honda is also working with the government on regulatory changes to facilitate this initiative.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:57 pm

SPY

Fed's Kashkari expressed that the Federal Reserve has not clearly communicated internal trade-offs between its inflation and employment objectives. This statement highlights uncertainty within the Fed regarding its dual mandate priorities.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:51 pm

SPR

Spirit AeroSystems' CEO announced during a conference call that the company has addressed every item flagged by the FAA in a recent audit, indicating compliance with regulatory standards.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:47 pm