Streetbeat News

Regulatory

INTC

Intel shares are trading lower following the company's announcement that it expects Q2 revenue to fall below its original midpoint. This is due to the US Department of Commerce revoking certain licenses for China customers, impacting Intel's business operations and revenue expectations.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:53 pm

BTCUSD

ETHUSD

USDTUSD

A report by 10x Research labels Ethereum (ETH) as the underperformer of this cycle in the cryptocurrency market, citing its slow adaptation to market demands and technological advancements. Despite its strong historical correlation with Bitcoin (BTC), Ethereum's market dominance has declined, and it faces challenges such as regulatory uncertainties in the U.S., a decrease in transaction demand indicated by falling ETH Gas fees, and losing ground in the stablecoin arena to Tron. The report predicts a bearish outlook for Ethereum, impacting its valuation and adoption.

Portfolio Pulse from Murtuza Merchant

May 08, 2024 | 1:52 pm

REYN

Reynolds Consumer Products has filed for an automatic mixed securities shelf, according to an SEC filing. This move allows the company to issue various types of securities, such as stocks, bonds, or warrants, over time. The filing is a common financial strategy for companies looking to raise capital flexibly.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:21 pm

ACB

Aurora Cannabis Inc (NASDAQ:ACB) experienced a Golden Cross, indicating a potential uptrend in its stock price ahead of its Q1 earnings report on May 20. Despite a significant drop in shares over the past years, the stock has risen 2.46% over the past year and 39.86% year-to-date. The company has focused on the medical cannabis market, especially in Germany and Australia, aiming for higher margins. However, analysts from BTIG express caution, citing challenges in Canadian and U.S. cannabis regulation changes and banking bill progress. The Golden Cross suggests a moderately bullish trend, but investors are advised to remain vigilant.

Portfolio Pulse from Surbhi Jain

May 08, 2024 | 1:17 pm

BTCUSD

Hong Kong announced its first-ever ETF liquidity fund of approximately $128 million, established by LD Capital, Antalpha Ventures, and Highblock, to enhance liquidity and mitigate risks in trading crypto-focused ETFs. This initiative accompanies the launch of six new ETFs, including Bitcoin and Ethereum spot ETFs, aiming to improve capital flow efficiency and investor confidence in the cryptocurrency market.

Portfolio Pulse from Murtuza Merchant

May 08, 2024 | 1:13 pm

DIS

Stock futures are up as investors focus on earnings and economic data, with the Dow Jones posting its fourth consecutive winning session. European markets are also trading higher, buoyed by better-than-expected retail sales data. However, caution is advised due to soft spots in economic data, such as German Factory Orders. The UK awaits the Bank of England's monetary policy announcement, with expectations of no interest rate change but hopes for positive news. Disney's recent earnings are in focus in the US, with concerns about its streaming business amidst a competitive landscape. Gold prices are dipping as investors react to FOMC commentary and the strong dollar index, with upcoming jobless claims data expected to influence future movements.

Portfolio Pulse from Naeem Aslam

May 08, 2024 | 1:11 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares dropped following reports of U.S. prosecutors investigating whether the company misled investors and customers about its self-driving technology. The Justice Department is examining statements by Tesla and CEO Elon Musk regarding the full self-driving capabilities, amid concerns of potential wire and securities fraud. This investigation, also involving the SEC, follows Tesla's disclosure of the DOJ's request for information on its Full Self-Driving technology. Despite recent pressure on shares, Musk remains optimistic about Tesla's future in autonomy and robotaxis.

Portfolio Pulse from Adam Eckert

May 08, 2024 | 12:53 pm

TSLA

Tesla shares are trading lower following a report that U.S. prosecutors are investigating whether the company misled investors and customers about its self-driving technology.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 12:53 pm

GOOGL

MSFT

The Biden administration is considering new regulations to restrict China's access to advanced AI models like those used in ChatGPT, aiming to protect U.S. AI technology. This includes potentially limiting the export of proprietary AI models by companies such as Microsoft, Alphabet's Google DeepMind, and others. The move follows efforts to block the export of AI chips to China and is part of a broader strategy to maintain U.S. competitiveness and national security in AI amidst rapid advancements and strategic moves by China in the AI sector.

Portfolio Pulse from Benzinga Neuro

May 08, 2024 | 12:35 pm

TSLA

US prosecutors are investigating Tesla's Autopilot system, focusing on potential securities and wire fraud. This probe could have significant implications for Tesla's reputation and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 12:24 pm