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Regulatory

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

SPY

Fed's Kashkari commented on the slower than expected impact of monetary policy on the economy, noting that financial markets are prone to exuberance, which can be reignited by positive job reports. This observation suggests a cautious approach to interpreting market optimism and the effectiveness of policy measures.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:46 pm

SPY

Fed's Kashkari emphasizes the importance of data in guiding rate decisions, aiming for a 2% inflation target. He states that achieving this goal is crucial for maintaining the Fed's credibility, and that 3% inflation is not acceptable.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:40 pm

SPY

Fed's Kashkari has indicated a cautious approach towards rate cuts, stating the need for multiple inflation readings before feeling confident to cut rates. Initially considering two rate cuts for the year, Kashkari now suggests the possibility of reducing this to one or none, emphasizing that the November election will not influence the Fed's decisions.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:40 pm

SPY

Minneapolis Fed President Neel Kashkari commented that the recent jobs report was softer than anticipated, though not categorically soft. Additionally, he expressed concern over the observation that new lease rates have slightly increased.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 3:36 pm