Streetbeat News

Regulatory

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

ARM

ASML

TSM

Shares of TSMC (TSM), Arm Holdings (ARM), and ASML (ASML) are trading lower due to overall market weakness and concerns over China's move to phase out foreign chips. ASML missed Q1 earnings, causing a significant drop in its stock price. Arm Holdings' stock fell in response to ASML's performance and broader sector trends. TSMC reported strong Q1 results but lowered its market outlook due to consumer weakness, leading to a decline in its share price.

Portfolio Pulse from Erica Kollmann

April 18, 2024 | 7:59 pm

SPY

The U.S. has resumed deportation flights to Haiti after a temporary pause due to the country's severe violence. This decision comes as Haiti continues to face challenges, but the Biden Administration sees it necessary to restart deportations.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 7:53 pm

XRPUSD

RippleX's Senior VP, Markus Infanger, predicts the tokenized asset market could reach $16 trillion, driven by traditional finance firms adopting blockchain technology. Infanger highlighted the growing trend of financial assets being tokenized on public blockchains, with Ripple in talks with financial institutions for tokenization projects on the XRP Ledger. He also mentioned a partnership with HSBC and Metaco for a custody platform for tokenized securities. Additionally, Ripple plans to launch a U.S. dollar-pegged stablecoin on the XRP Ledger and Ethereum, aiming to expand its offerings.

Portfolio Pulse from Khyathi Dalal

April 18, 2024 | 7:37 pm

SPY

The EPA is set to announce plans by the end of the week to temporarily waive restrictions on higher-ethanol gasoline blends for the summer. This move could impact fuel prices and the ethanol market.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 7:33 pm

ACB

CGC

Cannabis stocks are trading higher after a report that a state lawmakers' group is pushing Congress to include a marijuana banking bill in FAA legislation.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 7:24 pm

META

SNAP

SOCL

As the U.S. bill aiming to ban TikTok nears a vote, stocks of Meta Platforms Inc (META), Snap Inc (SNAP), and Global X Social Media ETF (SOCL) have seen increases. The bill, which could force TikTok's parent company ByteDance to divest its U.S. operations, has been fast-tracked through Congress. The potential ban has sparked criticism from influencers and small businesses reliant on TikTok, while ByteDance has invested heavily in lobbying against the legislation. The bill's passage could lead to significant legal battles, with implications for U.S.-China relations and the social media landscape.

Portfolio Pulse from Natan Ponieman

April 18, 2024 | 7:23 pm