Streetbeat News

Regulatory

GOOGL

Japan's antitrust watchdog is set to take action against Google for alleged unfair practices in a search advertising partnership with Yahoo. The Japan Fair Trade Commission (JFTC) has been investigating Google's keyword-targeted search ad technology provided to Yahoo, now part of LY Corp. Google has submitted an improvement plan, which the JFTC is expected to accept, focusing on creating a more level playing field in its advertising business, which accounts for 80% of its revenue. This comes amid increasing international scrutiny of Google's digital advertising dominance.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 5:03 pm

FirstEnergy Corp. (NYSE:FE) has reached a settlement for its Grid Modernization II plan in Ohio, aiming to deploy smart meters to an additional 1.4 million customers. The $421 million, four-year plan, pending approval by the Public Utilities Commission of Ohio (PUCO), builds on previous upgrades and includes a Smart Thermostat Rebate program. The plan could result in a monthly increase of about $1.50 for the average residential customer.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 4:37 pm

ETHUSD

SOLUSD

UNIUSD

Fred Krueger, a Bitcoin trader, expressed a negative outlook for Ethereum, citing challenges such as an investigation into the Ethereum Foundation, regulatory issues with UniSwap, the absence of an Ethereum-based ETF, stagnation in the NFT market, and competition from Solana. These factors, according to Krueger, undermine Ethereum's market position and question its value proposition, especially after its transition to proof-of-stake.

Portfolio Pulse from Murtuza Merchant

April 15, 2024 | 4:35 pm

ILIT

PLL

XME

Piedmont Lithium Inc. (NASDAQ:PLL) shares surged after receiving mining permit approval for the Carolina Lithium project in North Carolina, aiming to develop a low-cost, sustainable lithium hydroxide operation critical to the American electric vehicle supply chain. The project benefits from excellent infrastructure, low energy costs, and proximity to key markets. Exposure to PLL can also be gained through IShares Lithium Miners And Producers ETF (NASDAQ:ILIT) and SPDR S&P Metals & Mining ETF (NYSE:XME).

Portfolio Pulse from Lekha Gupta

April 15, 2024 | 4:22 pm

EIS

ISRA

SPY

USO

President Biden has affirmed the U.S.'s commitment to Israeli security and to achieving a ceasefire that aims to return hostages and prevent the conflict from escalating further.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 4:22 pm

GRRR

Gorilla Technology Group has received a notice of allowance for its U.S. patent application 16/732,344, which is focused on a method and system for evaluating the valid analysis region of a specific scene in the context of surveillance cameras. This development could enhance Gorilla Technology Group's offerings in the surveillance technology sector.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 4:16 pm

INTC

Intel shares are experiencing an uptick as part of a broader gain among some tech stocks. This comes after a decline last week, prompted by China's directive to telecom carriers to eliminate the use of foreign chips, impacting companies like Intel.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 4:14 pm

LGVN

MRNS

NMRA

RARE

SCHW

SNGX

SNPO

U.S. stocks traded higher with the Dow Jones gaining over 100 points. Charles Schwab Corporation reported a decline in Q1 2024 earnings but beat revenue estimates. Soligenix, Longeveron, and Snap One Holdings saw significant stock increases, while Marinus Pharmaceuticals, Neumora Therapeutics, and Ultragenyx Pharmaceutical experienced declines. Crude oil and gold prices fell, while silver and copper prices rose. European and Asian markets showed mixed results, with economic indicators like the NY Empire State Manufacturing Index and retail sales showing improvement.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 4:02 pm

EIS

ISRA

SPY

USO

Israel aims to take action against Iran, seeking to cause harm without triggering an all-out war, and desires coordination with the United States. This strategy was reported following a war cabinet meeting, as per Israel's Channel 12 News.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 3:37 pm

EZU

GLD

SPY

USO

VIX

Following Iran's drone and missile attack on Israel, market sentiment shifted from war fears to calm, with President Biden urging Israel to avoid retaliation. The CBOE Volatility Index dropped, indicating reduced market anxiety. Equities rallied, with SPY and EZU experiencing gains. Oil and gold prices fell, reflecting diminished concerns over Middle East tensions. Analysts suggest the market's reaction is due to no significant casualties and a reduced likelihood of escalation. However, potential Israeli retaliation could impact energy markets, with oil prices potentially surging if the Strait of Hormuz is disrupted.

Portfolio Pulse from Piero Cingari

April 15, 2024 | 3:28 pm