Streetbeat News

Regulatory

AAPL

META

Apple Inc. has removed Meta Platforms' apps, WhatsApp and Threads, from its China App Store following a Chinese government directive citing national security concerns. This action aligns with China's new regulation requiring app registration with the government. Apple's compliance with Chinese laws continues amidst U.S.-China tensions, while Meta faces challenges in China partly due to CEO Mark Zuckerberg's image. Apple's stock closed slightly lower, while Meta's stock saw an increase.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 6:03 am

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) has reportedly stopped 24-hour trading amid escalating tensions between Iran and Israel, causing concern among investors. Finance influencer Amit suggested this halt is a normal response to intense selling during such events, while others expressed frustration over not being able to trade in after-hours. The situation has raised speculation about the opening price for Robinhood stock and broader market implications.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 5:39 am

AAPL

NVDA

TSM

TSMC, the world's largest chipmaker, has revised its growth forecast for the chip market to 10%, down from 'more than 10%', due to a potential decline in automotive chip demand. Despite this, TSMC projects a 30% increase in Q2 sales, driven by strong demand for AI-related chips. TSMC's significant role in manufacturing for NVIDIA and Apple positions it at the forefront of AI development. However, TSMC's stock dropped 6% following the adjusted outlook. This comes amid global challenges, including a major earthquake in Taiwan and geopolitical tensions, but also growing demand for AI chips.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 5:00 am

EIS

ISRA

SPY

USO

Reuters reports, citing Iranian Press TV, that the situation in Iran's Isfahan is normal with no explosion occurring on the ground, and Iran's nuclear facilities remain unharmed.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:58 am

FXI

META

The Cyberspace Administration of China has mandated the removal of Meta's WhatsApp and Threads apps from the China storefront, citing national security concerns, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 2:32 am

EDV

TLT

The IMF's April 2024 Global Financial Stability report highlights concerns over a small group of hedge funds' significant control over the U.S. Treasury futures market, potentially posing systemic risks. Leveraged hedge funds have increased short positions in Treasury futures, exploiting price discrepancies and using borrowed money, raising financial stability concerns. The concentration of leverage and control in the market is significant, with a few funds holding substantial positions. The U.S. Treasury bond performance has been weak, with the iShares 20+ Year Treasury Bond ETF (TLT) and the Vanguard Extended Duration Treasury ETF (EDV) experiencing declines. The IMF also forecasts a rising U.S. debt-to-GDP ratio, reaching 134% by 2029.

Portfolio Pulse from Piero Cingari

April 18, 2024 | 8:57 pm

SPY

Neel Kashkari, President of the Minneapolis Federal Reserve, suggested in a Fox interview, reported by Bloomberg, that the Federal Reserve could potentially wait until 2025 to lower interest rates. This statement indicates a cautious approach towards monetary policy and signals a longer period of high-interest rates than some market participants might have expected.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:24 pm

FYBR

Frontier Communications Parent, Inc. (FYBR) experienced a significant operational disruption on April 14, 2024, due to unauthorized access by a cybercrime group. The company has contained the incident and is restoring operations, stating it does not expect a material financial impact according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:14 pm

TEVA

Teva Pharmaceuticals announced in an SEC filing that starting January 1, 2024, Canada will be excluded from Teva's North America segment, indicating a significant operational restructuring.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:09 pm

LGVN

Longeveron Inc. (NASDAQ:LGVN) successfully raised approximately $11.4 million in gross proceeds through a combination of a warrant exercise offering and a public offering. The funds are intended to support the clinical and regulatory development of Lomecel-B™, particularly for treating hypoplastic left heart syndrome (HLHS) and Alzheimer's disease. The warrant exercise offering generated about $6.2 million, while the public offering contributed approximately $5.2 million. H.C. Wainwright & Co. served as the exclusive placement agent for the offering.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 8:09 pm