Streetbeat News

Regulatory

SPY

Fed's Cook comments that financing renewable energy is primarily a fiscal issue, not within the Fed's purview. Emphasizes the need for research on climate change's impact on financial stability.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:06 pm

TSLA

CATL's Chairman expressed confidence that the company will not be affected by the broader tech war, as global efforts to combat climate change take precedence. Despite geopolitical tensions, CATL plans to expand in the U.S. and is currently in discussions with Tesla and other automakers to license its battery technology in the country.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:06 pm

SPY

Fed's Cook stated uncertainty about whether the neutral interest rate is higher, indicating that this would likely only be known after the fact, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:06 pm

UL

Unilever Plc (NYSE:UL) is considering Amsterdam over London for the potential listing of its €17 billion ice cream unit, which includes brands like Ben & Jerry's and Magnum. The Dutch government is advocating for this move, aligning with Unilever's previous commitments. CEO Hein Schumacher mentioned ongoing discussions with the Dutch Finance Ministry and various options, including an IPO, are being considered with a decision expected in the next 18 months. UL shares rose 0.30% to $50.14.

Portfolio Pulse from Shivani Kumaresan

March 25, 2024 | 4:05 pm

VSH

Vishay Intertechnology, Inc.'s (NYSE:VSH) Specialty Thin Film division announced its EFI Warwick factory in Rhode Island has been certified to the IATF 16949:2016 quality standard for its IGBR family of back contact wirebondable gate resistors. This certification, based on ISO 9001:2015 with additional automotive requirements, signifies enhanced quality management for the automotive industry. The EFI Warwick factory's quality management system is now certified to ISO 9001:2015 for all products and IATF 16949:2016 for IGBR resistors, alongside environmental certifications ISO 14001:2015 and ISO 45001:2018.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 4:05 pm

SABS

SAB Biotherapeutics, Inc. (SABS) announced a clinical partnership with the Naval Medical Research Center (NMRC) to advance SAB-176, a potential influenza treatment. The partnership, supported by the Henry Jackson Foundation, will conduct a pharmacokinetic, safety, and tolerability study of SAB-176 in healthy volunteers. SAB-176, developed using SAB's DiversitAb platform, targets influenza A and B and has received Breakthrough Therapy and Fast Track Designations from the FDA. This study marks the first intramuscular administration trial of a DiversitAb platform product.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 2:18 pm

MJ

MSOS

A new poll by the American Bankers Association (ABA) reveals that 63% of Americans support allowing marijuana businesses access to banking services. This comes as Congress sees a renewed push for the Secure and Fair Enforcement (SAFER) Banking Act, aimed at protecting banks serving state-licensed cannabis businesses from federal penalties. Senate Majority Leader Chuck Schumer and Senate Banking Committee Chairman Sherrod Brown have expressed high priority for passing the SAFER Banking Act, with bipartisan and bicameral talks being described as productive. The bill, which has faced delays due to disagreements over non-cannabis banking regulations, is gaining momentum with efforts to bring it to the Senate floor this year.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 2:18 pm

AMD

BA

BTCUSD

INTC

Bitcoin's value increased, while AMD and Intel experienced a decline due to new restrictions in China. Boeing's CEO announced plans to step down.

Portfolio Pulse from Benzinga Newsdesk

March 25, 2024 | 2:18 pm

FCX

GOLD

NEM

The Biden administration announced a $475 million funding allocation for clean energy projects in the mining sector, targeting companies like Freeport-McMoRan (FCX), Barrick Gold (GOLD), and Newmont (NEM). This initiative aims to support communities affected by the energy transition, with each company pursuing unique projects and strategies. Freeport-McMoRan is focusing on a geothermal and battery storage project in Arizona, Barrick Gold is expanding into copper mining in Africa and the Middle East, and Newmont is streamlining operations post-Newcrest acquisition.

Portfolio Pulse from Stjepan Kalinic

March 25, 2024 | 2:18 pm

FXI

SPY

The Biden administration plans to publicly accuse Chinese hackers, linked to China's Ministry of State Security, of conducting espionage against US companies. This includes criminal charges, sanctions, and rewards for information. The hackers reportedly used a Wuhan-based tech company as a front. The UK is also set to make similar accusations. This announcement comes amid tense US-China cyber relations, following FBI warnings of potential disruptive cyberattacks by another Chinese group.

Portfolio Pulse from Happy Mohamed

March 25, 2024 | 2:18 pm