Streetbeat News

Regulatory

KKR

TIAIY

KKR & Co. Inc. (NYSE:KKR) shares fell due to concerns from EU antitrust regulators about its planned purchase of Telecom Italia's (OTC:TIAIY) fixed-line network, which could affect Italy's wholesale market. The deal, valued at 22 billion euros, faces scrutiny that may require KKR to offer significant remedies amid fears of potential price increases post-deal. The acquisition is part of a government-backed initiative to reduce debt and revitalize Telecom Italia.

Portfolio Pulse from Nabaparna Bhattacharya

April 24, 2024 | 5:19 pm

EIS

Israel is preparing for a military operation in Rafah, targeting Hamas, despite U.S. President Biden's warning against such an action. The operation includes evacuating Palestinian civilians and has been confirmed by David Mencer, a spokesman for Israel's prime minister. Satellite imagery shows tent camps expanding in southern Gaza, indicating preparations for civilian displacement. The U.S. has recently signed a $95 billion foreign aid bill, including $26 billion for Israel and aid for Gaza. Turkey criticized the U.S. for perceived double standards in human rights policies. Israeli Defense Forces struck 40 Hezbollah targets recently. The iShares MSCI Israel ETF (EIS) traded 0.8% lower amid these developments.

Portfolio Pulse from Piero Cingari

April 24, 2024 | 5:06 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares are experiencing volatility amid concerns of stock manipulation. CEO Devin Nunes has requested an investigation by House GOP leaders into potential unlawful trading activities, citing the company's continuous appearance on Nasdaq's 'Reg SHO threshold list' since April 2, 2024, indicative of such activities. Nunes highlighted the high cost of shorting DJT shares and the financial incentives for brokers to lend non-existent shares. The company has advised shareholders to hold their shares in cash accounts and opt out of securities lending programs to prevent their shares from being lent out for short selling.

Portfolio Pulse from Nabaparna Bhattacharya

April 24, 2024 | 4:19 pm

EH

EHang Holdings Ltd. (NASDAQ:EH) plans to raise up to $100 million through a public offering of its ADS, aiming to fund the mass production of its self-flying aircraft. This move comes as the company progresses towards commercialization, having received necessary regulatory certificates in China. Despite facing a short-selling attack by Hindenburg Research, EHang's revenue surged 165% last year, and it is projected to significantly grow in the coming years, with profitability expected by 2025.

Portfolio Pulse from The Bamboo Works

April 24, 2024 | 4:08 pm

CSCO

'ArcaneDoor' cyberspies, suspected to be state-sponsored and aligned with China's interests, exploited two zero-day vulnerabilities in Cisco's Adaptive Security Appliances to access government networks globally. The campaign, named ArcaneDoor, targeted Cisco's firewalls, allowing hackers to spy on network traffic and maintain access even after device reboots. Cisco has since released patches for these vulnerabilities and advises immediate implementation. This incident highlights a broader trend of targeting network edge devices for espionage.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:07 pm

NVO

SPY

Senator Bernie Sanders is leading a Senate Committee investigation into Novo Nordisk's pricing of Ozempic and Wegovy, popular diabetes and weight loss medications. The inquiry aims to understand the rationale behind the drugs' pricing strategies.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 4:03 pm

VGK

The European Commission is reportedly planning to propose direct sanctions on ships that deliver North Korean military equipment to Russia and on tankers that ignore the G7 price cap on Russian oil. Additionally, it is expected to expand its Russian sanctions list by adding 40 entities, according to Reuters citing documents and sources.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 3:42 pm

DJT

Trump Media CEO Devin Nunes has requested House GOP leaders to investigate potential manipulation of DJT stock, citing concerns over 'anomalous trading' and possible 'naked' short selling. The stock, which trades under the ticker DJT on the Nasdaq, has lost over half its value since its debut. Nunes' letter targets Citadel Securities, accusing them of contributing to the stock's volatility. This request follows a significant drop in DJT's stock price, amidst volatile trading sessions.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 3:11 pm

AMZN

GOOG

GOOGL

META

SNAP

SPY

TikTok CEO Shou Chew has publicly responded to the TikTok divestment bill, expressing confidence in prevailing in court and stating that TikTok is not planning to exit the market. This statement comes amidst growing regulatory scrutiny over the app's data privacy practices and its ties to China.

Portfolio Pulse from Benzinga Newsdesk

April 24, 2024 | 3:09 pm