Streetbeat News

Regulatory

COIN

MSTR

TSLA

The crypto market cap hits $2.5T with Bitcoin, Ethereum, Dogecoin surging as MicroStrategy buys more BTC. Tesla's German factory resumes after an arson attack. MILLI's value increases, outperforming Dogecoin and Shiba Inu. $47M stolen in crypto phishing in February. Bitcoin's volatility expected to decrease, while Ethereum's ETF approval odds drop. Ark Invest sells Coinbase shares despite Bitcoin's new highs. Tesla offers early Cybertruck delivery to long-term shareholders, and Volvo aims to cut EV charging times.

Portfolio Pulse from Akanksha Bakshi

March 12, 2024 | 4:04 pm

DXCM

DexCom Inc's Stelo Glucose Biosensor System has received FDA approval as the first over-the-counter continuous glucose monitor, signaling rapid expansion and significant revenue potential. RBC Capital Markets initiated coverage with an Outperform rating and a $165 price target, highlighting DexCom's potential as a fast-growing large-cap MedTech company. The Stelo system, set for a 2024 launch, is expected to be a major growth catalyst, targeting a large patient market.

Portfolio Pulse from Priya Nigam

March 12, 2024 | 3:54 pm

UNH

White House officials met with UnitedHealth CEO and other providers and payers in a joint meeting to discuss a recent hack. This marks the first collective meeting, following individual meetings with all involved parties since the incident.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:47 pm

BA

Boeing shares are trading lower following a report that the company failed 33 of 89 audits by the FAA. Additionally, United Airlines has instructed Boeing to stop building 737 Max 10 jets for them.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:28 pm

AAPL

Apple Inc. (NASDAQ:AAPL) is set to allow developers in the European Union to distribute iOS apps directly from their websites, a significant policy change. This new distribution method, available through a forthcoming software update, requires developers to adhere to Apple's strict app development and notarization rules. The move aligns with the EU's Digital Markets Act and is part of Apple's efforts to support alternative app stores in the region. Apple's stock was slightly up following the announcement.

Portfolio Pulse from Rounak Jain

March 12, 2024 | 3:11 pm

BGXX

Bright Green Corp (NASDAQ:BGXX) has signed a $250M agreement with Dalsem Greenhouse Technologies BV to expand its drug production facility in New Mexico, adding 7M square feet of manufacturing space. The expansion, supported by $60M in financing, aims to enhance the production of Schedule I and II controlled substances, aligning with the 'Drugs Made in America' initiative. The project, benefiting from solar power and federal tax credits, positions Bright Green as a competitive, low-cost, carbon-neutral drug manufacturer in the U.S.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:02 pm

OXY

XOM

Saudi Aramco and ADNOC are venturing into lithium production from brine in their oilfields to diversify and meet the growing demand for EVs, similar to Exxon Mobil's efforts in Arkansas. Despite a profit decline, Aramco increased its dividend payout. The long-term prospects for lithium remain promising despite recent price drops. Gulf companies are exploring eco-friendly Direct Lithium Extraction (DLE) technologies, avoiding traditional, environmentally harmful methods. Exxon Mobil and Occidental Petroleum are also investigating DLE technologies.

Portfolio Pulse from Stjepan Kalinic

March 12, 2024 | 3:00 pm

SPY

VGK

The U.S. is reportedly preparing a new military aid package for Ukraine, potentially valued up to $400M, according to two U.S. officials speaking to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:47 pm

UNH

The White House has summoned the CEO of UnitedHealth Group as the payment paralysis affecting the healthcare sector enters its third week. This move underscores the administration's concern over the ongoing disruptions caused by UnitedHealth's handling of payments. The situation has drawn significant attention, indicating potential regulatory scrutiny or intervention that could impact UnitedHealth's operations and possibly its financial performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:43 pm

EWW

SPY

U.S. Supreme Court Justice Samuel Alito has extended a temporary pause on a Texas law that permits state law enforcement to arrest individuals suspected of illegally crossing the U.S.-Mexico border. This decision continues to halt the implementation of the law pending further legal review.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:23 pm