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Regulatory

LUNR

Intuitive Machines, Inc. (NASDAQ: LUNR) has been awarded a $30 million contract by NASA to conduct a Lunar Terrain Vehicle Services Feasibility Assessment as part of NASA's Artemis campaign. This marks the company's entry into human spaceflight operations within the $4.6 billion LTV Services project. The contract involves developing a roadmap for deploying a Lunar Terrain Vehicle on the Moon using Intuitive Machines' Nova-D cargo-class lunar lander. Partners including AVL, Boeing, Michelin, and Northrop Grumman will contribute to the vehicle's design, showcasing advanced capabilities in power management, autonomous driving, and navigation for lunar exploration.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:15 pm

OLN

Olin Corporation (NYSE:OLN) has filed antidumping and countervailing duty petitions against China, India, South Korea, Taiwan, and Thailand, alleging that imports of certain epoxy resins are unfairly traded and causing material injury to the U.S. epoxy resin industry. The petitions, part of the U.S. Epoxy Resin Producers Ad Hoc Coalition, claim these imports are subsidized by their governments, affecting U.S. pricing, production, sales, and earnings. The petitions aim to address the negative impact of these imports on the U.S. industry's sustainability and supply chain resiliency, vital for critical industries and compliance with U.S. legislation.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:10 pm

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Following the Florida Supreme Court's decision to allow a constitutional amendment for legalizing recreational marijuana on the November 2024 ballot, cannabis companies, including Trulieve, have collectively contributed over $15 million in support. Trulieve had previously donated $40 million. The amendment, known as Amendment 3, aims to legalize non-medical personal use of marijuana for adults 21 or older and requires a 60% voter approval. Companies like Verano Holdings, Curaleaf Holdings, AYR Wellness, Cresco Labs, Green Thumb Industries, and INSA, Inc. are among the new donors. The funding announcement coincides with the upcoming Benzinga Cannabis Capital Conference in Florida.

Portfolio Pulse from Maureen Meehan

April 03, 2024 | 7:56 pm

TGS

Transportadora De Gas Del Sur (TGS) shares increased following an announcement of an agreement with ENARGAS for a transitory adjustment in natural gas transportation tariffs, including a monthly adjustment formula starting in May.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:54 pm

FXI

SPY

U.S. Treasury Secretary Yellen emphasized the importance of maintaining a level economic playing field between the U.S. and China, expressing concerns over China's overcapacity driven by massive subsidies. She highlighted the Biden administration's commitment to ongoing dialogue with China. While not commenting directly on new tariffs, Yellen did not rule out measures to protect the U.S. clean energy supply chain.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:48 pm

TGS

Transportadora De Gas Del Sur (TGS) has agreed with ENERGAS on a 675% increase in natural gas transportation tariffs starting April 2024, with further monthly adjustments from May 2024. Additionally, TGS commits to an AR$27.69 billion investment plan in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:47 pm

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The SEC has initiated a three-week public comment period on proposals for Ethereum-based ETFs from Grayscale Investments, Fidelity Investments, and Bitwise Asset Management. This follows the SEC's approval of Bitcoin spot ETFs, raising hopes for Ethereum ETFs. However, the SEC's stance on Ethereum and other cryptocurrencies remains cautious, with Ethereum's classification as a security under review. A decision on some ETF applications is expected by May 23.

Portfolio Pulse from Murtuza Merchant

April 03, 2024 | 6:49 pm

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Norway's sovereign wealth fund is considering divesting its $2.15 billion stake in Rio Tinto (NYSE:RIO) due to concerns over deforestation in the Brazilian Amazon. The fund, which is the world's largest at $1.6 trillion, has a history of ethical investing and previously divested from Rio Tinto in 2008 over environmental concerns. The Council On Ethics is in discussions with Rio Tinto but has not made a final decision. Glencore ADR (OTCPK: GLNCY) and South32 ADR (OTCPK: SOUHY) are also mentioned as related parties due to their stakes in Mineração Rio do Norte (MRN), a bauxite producer under scrutiny.

Portfolio Pulse from Stjepan Kalinic

April 03, 2024 | 6:23 pm

BA

Boeing's 737 Max production rate has significantly decreased in recent weeks, with production dropping to a single-digit number of jets per month in late March, as the FAA intensifies its factory audits, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:13 pm

GS

Goldman Sachs Group maintains its negative stance on cryptocurrency, with Sharmin Mossavar-Rahmani, the chief investment officer of Goldman Sachs’ Wealth Management unit, reiterating that they do not view it as an investment asset class. This position contrasts with other financial giants like BlackRock Inc. and Fidelity, which have expanded their crypto offerings. Goldman Sachs' skepticism is rooted in the difficulty of valuing cryptocurrencies and the perceived hypocrisy within the crypto industry.

Portfolio Pulse from Murtuza Merchant

April 03, 2024 | 5:52 pm