Streetbeat News

Regulatory

BAC

DIA

QQQ

SPY

TLT

TSLA

Geopolitical tensions and economic forecasts shape market trends, with mixed performances in U.S. stocks and sectors. The IMF's optimistic U.S. growth projection contrasts with potential Middle East escalations. Treasury yields rise, impacting bond ETFs like TLT. Gold nears record highs, while Bitcoin drops. Key stocks and ETFs like SPY, DIA, QQQ, and sector-specific funds XLV and XLE show varied performances. Companies like TSLA, BAC, MS, and others react to news and earnings, influencing their stock prices.

Portfolio Pulse from Piero Cingari

April 16, 2024 | 5:28 pm

SPY

Fed Chair Jerome Powell is currently participating in a fireside chat at a Washington forum, focusing on the Canadian economy. The event may influence market perceptions and expectations regarding monetary policy and its impact on both the U.S. and Canadian economies.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 5:22 pm

VSTO

CSG addressed Senator J.D. Vance's concerns about its acquisition of The Kinetic Group, formerly Vista Outdoor's Sporting Products business, refuting claims of wrongdoing and ties to Putin's regime. CSG highlighted its support for Ukraine, cooperation with the U.S. military, and partnerships with defense corporations like General Dynamics and Raytheon. CSG emphasized its long-term investment strategy and expertise in the ammunition market, inviting Vance to visit its facilities.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 5:11 pm

LYV

The Department of Justice (DOJ) is reportedly preparing to file a lawsuit against Live Nation Entertainment (NYSE:LYV), the parent company of Ticketmaster, over antitrust concerns. This follows increased scrutiny after Ticketmaster's website crashed during a presale for Taylor Swift's 'The Eras Tour', highlighting issues with ticket availability and high fees. Live Nation, which merged with Ticketmaster in 2010, is accused of having a dominant position in the ticketing market, with an 80% market share in primary ticket sales for the largest U.S. venues. The DOJ's investigation may have found violations of a revised settlement from the 2010 merger, which was extended through 2025.

Portfolio Pulse from Chris Katje

April 16, 2024 | 5:07 pm

GHBWF

GLASF

Kyle Kazan, CEO of Glass House Brands Inc., emphasized the need to end imprisonment for cannabis and advocated for federal legalization at the Benzinga Cannabis Capital Conference. He highlighted the company's success in California, reporting an 89% surge in annual revenue to $160.8 million and the introduction of a new value cannabis brand, Allswell, aimed at competing with the illicit market. Despite challenges like high taxes and a thriving traditional market, Glass House plans to continue its expansion in California.

Portfolio Pulse from Jelena Martinovic

April 16, 2024 | 4:32 pm

UBER

Uber Technologies Inc. was involved in a tax probe in Portugal, focusing on the company's delivery partners. Authorities conducted a raid as part of the investigation into potential tax violations.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:30 pm

MSOS

YOLO

Emily Paxhia, Founding Partner & Managing Partner at Poseidon Investment Management, discussed the challenges of M&A deals in California at Benzinga's Cannabis Capital Conference. Access to the conference is available for existing subscribers and new users can gain instant access.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:08 pm

MSOS

YOLO

Florida is on the verge of legalizing recreational marijuana, with a vote set for November on Amendment 3, which would legalize adult non-medical use starting May 2025. Executives from AYR Wellness, Verano Holdings, and The Cannabist Company discussed the potential market boom at the Benzinga Cannabis Capital Conference, highlighting Florida's significant medical market and the expected sales increase. Verano Holdings is preparing by expanding its presence, while The Cannabist Company is gearing up for regulatory changes. AdvisorShares' CIO Dan Ahrens, managing MSOS and YOLO ETFs, is positioning investments in anticipation of regulatory momentum in Florida.

Portfolio Pulse from Adam Eckert

April 16, 2024 | 3:52 pm

MSOS

SPY

At Benzinga's Cannabis Capital Conference, former Congressman and Holland & Knight partner, Hon. Ed Perlmutter, mentioned that the DEA is expected to assist with tax issue 280E, with a decision anticipated this week or soon.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:33 pm

MSFT

NVDA

QQQ

SPY

TLT

TSLA

The article discusses the significant drop in 20+ year Treasury bond ETF (TLT) despite geopolitical tensions, which typically drive up U.S. Treasuries. It highlights the unusual market behavior where Treasuries fall, indicating lower stock valuations, contrary to expectations during the Iran-Israel conflict. The IMF warns the U.S. about excessive spending, while global growth forecasts increase slightly. U.S. housing starts and building permits have slowed, and China's GDP growth shows underlying weakness. Money flows are positive for NVIDIA and Microsoft, neutral for Amazon, Apple, Alphabet, and Meta, negative for Tesla, and mixed for SPDR S&P 500 ETF Trust and Invesco QQQ Trust. The article also notes the selling of gold and oil by the momo crowd, with smart money inactive, and mentions Bitcoin's trading activity around a halving event.

Portfolio Pulse from The Arora Report

April 16, 2024 | 3:30 pm