Streetbeat News

Regulatory

META

Elon Musk criticized Meta Platforms Inc. (NASDAQ:META) after it was fined $37.2 million by Turkey's competition board for its data sharing practices. The fine resulted from investigations into Meta's data-sharing between Facebook, Instagram, WhatsApp, and Threads. Musk's comments highlight ongoing concerns over Meta's data privacy practices.

Portfolio Pulse from Rounak Jain

May 09, 2024 | 8:14 am

BTCUSD

ETHUSD

Donald Trump, during a campaign speech, endorsed cryptocurrencies and expressed his intention to allow crypto donations to his 2024 campaign. He also commented negatively on a meme coin parodying Joe Biden, which then surged over 14%. Trump's crypto portfolio is valued over $5.6 million, including MAGA Coin, Ethereum, Wrapped Ether, and other memecoins. His stance on Bitcoin has softened, contrasting with the Biden administration's veto against legislation for financial institutions to hold cryptocurrencies. Standard Chartered predicts a positive outlook for cryptocurrencies if Trump is re-elected.

Portfolio Pulse from Aniket Verma

May 09, 2024 | 8:10 am

HRB

RBLX

TSLA

UBER

USFD

The Dow Jones rose for the sixth consecutive session amid mixed U.S. stock performance and a slight improvement in market sentiment according to the CNN Money Fear and Greed index. Uber Technologies and Tesla saw significant share price declines due to disappointing financial results and legal scrutiny, respectively. The S&P 500 and Nasdaq Composite experienced minor losses, with certain sectors like utilities and financials outperforming. Investors are looking forward to earnings results from H&R Block, US Foods Holding, and Roblox Corporation.

Portfolio Pulse from Avi Kapoor

May 09, 2024 | 6:36 am

TSLA

Wedbush analyst Dan Ives highlighted the critical role of China in Tesla Inc.'s growth, particularly with the company's plans to test robotaxis in the country. Despite the Chinese government not fully approving Tesla's Full Self-Driving functions, it has allowed some robotaxi trials. This development, along with Tesla's partnership with Baidu for driver assistance features, underscores China's importance to Tesla's global strategy. The focus on China comes amid a broader executive shake-up at Tesla, emphasizing the region's significance in Tesla's expansion.

Portfolio Pulse from Benzinga Neuro

May 09, 2024 | 5:35 am

LSAK

Lesaka Technologies (LSAK) has reaffirmed its FY24 revenue guidance of ZAR 10.7 billion to ZAR 11.7 billion. The company has also updated its Group Adjusted EBITDA forecast to ZAR 685 million to ZAR 705 million, in response to SEC comments on its non-GAAP financial reporting. This update includes lease expenses in the EBITDA calculation, with past comparisons adjusted accordingly. The guidance does not account for the financial impact of the acquisition of Touchsides or any future M&A activities.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 11:08 pm

LKCO

Luokung Technology Corp. (NASDAQ:LKCO), a spatial-temporal intelligent big data services company in China, has received a 180-day extension from Nasdaq to meet the minimum bid price requirement of $1.00 per share. The new deadline is October 28, 2024. This extension allows the company additional time to comply with Nasdaq's listing requirements without affecting its current listing status. Luokung was initially notified of its non-compliance on November 3, 2023, and had until May 1, 2024, to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 10:43 pm

ATO

Atmos Energy reported a fiscal year-to-date EPS of $4.93 with net income of $743.3 million. Capital expenditures amounted to $1,415.5 million, focusing mainly on safety and reliability. The company has a strong financial profile with 60.9% equity capitalization and $4.2 billion in liquidity. It also implemented $165.4 million in annualized regulatory outcomes, with $178.8 million in progress.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 8:38 pm

HOOD

Robinhood Markets projects its FY24 adjusted operating expenses and SBC to be between $1.85B and $1.95B. This forecast excludes potential significant regulatory matters or other major expenses, as these are unpredictable at this time. The company emphasizes that actual results could materially differ from this outlook.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 8:29 pm

BHP

CMP

IDR

USAU

Gold King, a subsidiary of U.S. Gold (NYSE:USAU), received a key permit from the Wyoming Department of Environmental Quality, advancing its project development. Ivanhoe Electric (NYSE:IE) and BHP (NYSE:BHP) launched a mining alliance to explore and develop projects in the Southwest U.S., with BHP funding $15 million initially. Compass Minerals (NYSE:CMP) reported fiscal Q2 results, announcing dividend suspension to save $25 million annually and other cost-saving measures. Idaho Strategic Resources (NYSE:IDR) signed an MOU with Radiant Industries to potentially operate meltdown-proof microreactors.

Portfolio Pulse from austin@walkonholdings.com

May 08, 2024 | 8:12 pm

NLCP

NewLake Capital Partners, Inc. (NLCP) is investing $16M in a Connecticut marijuana cultivation facility, expanding its partnership with C3 Industries. The investment includes a $4M purchase price and a $12M construction allowance for retrofitting a former cold-storage facility. This marks the second collaboration between NewLake and C3, following a previous partnership on a Missouri cultivation facility. The new Connecticut facility aims to produce high-quality indoor cannabis and drive economic development. The investment comes amid news that the DEA may reclassify marijuana, potentially benefiting the cannabis sector.

Portfolio Pulse from Jelena Martinovic

May 08, 2024 | 8:01 pm