Streetbeat News

Regulatory

AAPL

TSLA

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a decline amid $250M in crypto liquidations, with concerns over potential Fed rate cuts. Apple is expanding into Latin America with a new office in Coral Gables. Other highlights include anticipation of US inflation data, political critiques within the US and regarding international relations, and various updates in the tech and electric vehicle sectors, including Apple's growth and Tesla's customer retention.

Portfolio Pulse from Akanksha Bakshi

April 10, 2024 | 1:49 pm

PHG

Koninklijke Philips NV (NYSE:PHG) announced a final agreement with the U.S. Justice Department and FDA regarding a settlement related to its Respironics ventilators, following a voluntary recall in June 2021 for certain devices. The consent decree allows Philips Respironics to continue servicing existing devices and selling accessories while meeting specific requirements before resuming new device sales in the U.S. Philips maintains its 2023-25 financial guidance, including the impact of the consent decree.

Portfolio Pulse from Vandana Singh

April 10, 2024 | 1:47 pm

EWC

The Bank of Canada has decided to keep its interest rate unchanged at 5%, aligning with both the market expectations and the previous rate.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:46 pm

SPY

President Biden has urged companies with record profits to reduce their prices to help combat inflation. This call to action is part of a broader strategy to address rising costs that affect consumers directly. While specific companies were not mentioned, this appeal could have implications across various sectors, particularly those experiencing significant profit margins.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:45 pm

NIO

NIO Inc (NYSE:NIO) shares rose 7.78% on Tuesday, influenced by broader China strength and productive talks between U.S. Treasury Secretary Janet Yellen and Chinese officials. New data showed a 35.3% year-over-year increase in China's new energy vehicle sales in March. Nio's FY23 revenue growth was 7.3%, with future performance potentially impacted by macroeconomic factors. Shares were down 2.12% at $4.61 at the time of publication.

Portfolio Pulse from Adam Eckert

April 10, 2024 | 1:19 pm

MRMD

MariMed (OTCQX:MRMD) has acquired the operating assets of Our Community Wellness & Compassionate Care Center in Maryland, marking its second adult-use Thrive Wellness dispensary in the state. The company paid the state's adult-use conversion fee and received an adult-use license. The dispensary, closed since July 1, 2023, is expected to reopen for adult-use retail sales by the end of Q2, pending regulatory approvals. MariMed aims to maximize its footprint in Maryland, a high-growth market, and plans to seek additional dispensary acquisitions.

Portfolio Pulse from Nina Zdinjak

April 10, 2024 | 1:14 pm

GP

GreenPower Motor Company Inc. (NASDAQ:GP) announced plans to deliver 88 all-electric school buses in West Virginia in FY25, following a record number of deliveries in FY24. The company received an $18.56 million EPA grant for deploying zero-emission buses and charging infrastructure in seven West Virginia counties. GreenPower's production is expected to reach 50-60 buses per quarter by FY25 end. The commercial division also saw increased deliveries, with a 9% increase in EV Star deliveries and resumed deliveries to Workhorse.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:01 pm

RNW

ReNew Energy has surpassed 10 GW of gross renewable energy assets, making it one of the fastest clean energy companies to reach this milestone. In FY24, the company added 1.94 GW, bringing its revenue-generating capacity to 9.52 GW. ReNew, listed on Nasdaq as RNW, contributes about 10% to India's RE generation and plans to double its RE asset portfolio to 20 GW by 2027/28. The company's expansion is supported by a strong balance sheet of around $10.6 billion as of December 31, 2023. ReNew's growth aligns with India's goal to achieve 500 GW of non-fossil fuel energy capacity by 2030.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:40 pm

ABVC

ABVC BioPharma, Inc. (NASDAQ:ABVC) has executed a term sheet with OncoX BioPharma, Inc. for the global licensing of its Oncology/Hematology products, expecting to receive $55M in licensing income and up to $50M in royalties. The deal includes clinical trial, registration, manufacturing, supply, and distribution rights for ABVC's pipeline, with the US FDA approving four INDs for various cancers. The partnership aims to leverage both companies' strengths to drive innovation and create value in the Oncology/Hematology sector.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 12:38 pm