Streetbeat News

Regulatory

LYV

The Wall Street Journal reported that the Justice Department plans to file an antitrust lawsuit against Live Nation as soon as next month, according to sources. This move could have significant implications for the company's operations and market perception.

Portfolio Pulse from Charles Gross

April 16, 2024 | 8:55 am

BTCUSD

Crypto.com CEO Kris Marszalek predicts a surge in Bitcoin sales leading up to the 'halving' event around Apr. 20, expected to boost Bitcoin's price over time. Despite potential short-term selling pressure, Marszalek views the event as positive for the market. The introduction of Bitcoin ETFs and endorsements like that from BlackRock Inc have fueled optimism, despite recent price volatility and skepticism among finance professionals. Bitcoin's price has seen a significant year-to-date increase, trading at $62,682 with a recent decline of 1.23%.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 6:12 am

META

MSFT

The UK government is set to criminalize the creation and distribution of sexually explicit deepfake images without consent. This move is part of broader efforts to combat violence against women and includes new offenses for non-consensual intimate images and aggravating factors for causing death through abusive behavior. The rise of deepfake technology has led to significant concerns globally, including a $25 million corporate scam and potential election interference in Asia.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 4:04 am

ARKB

BITB

BRRR

DEFI

GBTC

Cryptocurrency analyst Willy Woo predicts Bitcoin ETFs could drive Bitcoin's price to surpass gold's market cap, with price targets of $91k in bear and $650k in bull markets. The SEC approved Bitcoin ETFs from Grayscale, Bitwise, Hashdex, Valkyrie, and ARK 21Shares. Bitcoin's market cap could rise to $12.8 trillion, exceeding gold's $16.1 trillion cap. Bitcoin ETFs saw $111 billion traded in March, despite a recent 8% price drop and $83M net outflows in spot Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 2:38 am

GRPN

Groupon's Italian subsidiary, Groupon S.r.l., faces financial challenges as Italian tax authorities have placed a lien on its bank account, restricting outgoing payments. This action follows the Second Tier Tax Court's denial of Groupon S.r.l.'s request to suspend the appeal bond, requiring the company to post approximately €21 million immediately and an additional €48 million by October 22, 2024. Due to liquidity issues, Groupon S.r.l. cannot post the full amount and will pause sales of local vouchers in Italy, expecting a revenue loss of €1 million per month.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 9:36 pm

IONR

IPX

PLL

Piedmont Lithium received a mining permit for its Carolina Lithium project, expected to boost the U.S. EV supply chain. U.S. Steel faces opposition from senators and a national security review against its acquisition by Nippon Steel. Ioneer progresses on its Rhyolite Ridge project with an upcoming environmental review, aiming for production in 2027. IperionX signs a deal to supply titanium products, enhancing the U.S. titanium supply chain.

Portfolio Pulse from austin@walkonholdings.com

April 15, 2024 | 9:15 pm

CMG

DIN

EAT

JACK

MCD

PZZA

QSR

SBUX

WEN

YUM

California's new law mandates a $20 minimum wage for fast-food employees at chains with at least 60 locations nationwide, affecting major companies like McDonald's, Starbucks, and Yum! Brands. Since the law's implementation on April 1, many of these companies have seen their stock values drop. Some are considering cutting hours and raising prices, while others explore automation to offset increased labor costs. Casual dining restaurants could benefit from this shift if they manage to maintain their pricing.

Portfolio Pulse from Natan Ponieman

April 15, 2024 | 9:12 pm

ZVRA

Zevra Therapeutics presented new data on the long-term safety and efficacy of Arimoclomol for treating Niemann-Pick Disease Type C (NPC) at the SIMD 45th Annual Meeting. The data supports Arimoclomol's tolerability and effectiveness, with Zevra's CEO, Neil F. McFarlane, highlighting the company's commitment to FDA collaboration ahead of the PDUFA date on September 21, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 9:07 pm

IEF

TLT

U.S. Treasury yields have surged to 6-month highs, driven by economic resilience and inflation, moving away from expectations of Federal Reserve rate cuts. The yield on the 10-year Treasury note reached 4.61%, with bond ETFs like the iShares 7-10 Year Treasury Bond ETF (IEF) and the iShares 20+ Year Treasury Bond ETF (TLT) experiencing significant declines. UBS warns of potential Fed rate hikes to 6.5% if inflation remains high, potentially leading to a downturn in bonds and stocks.

Portfolio Pulse from Piero Cingari

April 15, 2024 | 9:04 pm