Streetbeat News

Regulatory

BA

Emirates President Tim Clark has warned Boeing (NYSE:BA) to make significant changes following a safety incident where a panel on a MAX 9 jet blew out during a flight, leading to increased regulatory scrutiny. Clark emphasized the need for a change in governance to prevent further issues, highlighting Boeing's recent $51 million penalty for unauthorized exports and ongoing manufacturing challenges.

Portfolio Pulse from Benzinga Neuro

March 01, 2024 | 8:53 am

HUMA

Humacyte has announced a public offering of 13.4 million shares of common stock priced at $3 per share, totaling $40.2 million. The proceeds will be used to advance its regenerative medicine pipeline, support FDA review of its Biologics License Application for bioengineered human acellular vessels for urgent arterial repair, establish initial commercial infrastructure, and for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 8:08 am

FUBO

HAYW

PLUG

SATS

SNOW

U.S. stocks closed higher with the Nasdaq hitting a record high, driven by investor optimism following the PCE report. Hayward Holdings surged 13% after strong Q4 results, while Snowflake fell 18% due to its financial update and CEO transition. The PCE inflation rate slightly eased, and jobless claims rose. Sectors like communication services and IT saw significant gains, except healthcare and consumer staples. Investors await earnings from Plug Power, EchoStar, and fuboTV.

Portfolio Pulse from Avi Kapoor

March 01, 2024 | 6:54 am

META

Meta Platforms (NASDAQ:META) announced it will stop paying news publishers for content in Australia, France, and Germany. This decision aligns with Meta's strategy of reducing news and political content promotion and follows the termination of its news tab in the U.K., France, and Germany. The move could lead to conflicts with the Australian government, which can appoint mediators for fee determination under a 2021 law. Meta's stance on not compensating news publishers could impact traffic referrals and revenue for news publishers.

Portfolio Pulse from Benzinga Neuro

March 01, 2024 | 6:15 am

FXI

China's Manufacturing Purchasing Managers Index (PMI) for February was reported at 49.1, aligning with estimates but slightly below the prior month's figure of 49.2. This indicates a continued contraction in the manufacturing sector.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 5:34 am

BA

Boeing Co. (NYSE:BA) has agreed to a $51 million settlement with the U.S. State Department for unauthorized exports of technical data to China and Russia, violating the Arms Export Control Act and International Traffic in Arms Regulations. The violations, occurring between 2013 and 2017, were disclosed by Boeing between 2017 and 2022. The settlement includes a two-year oversight by a special compliance officer and a $24 million suspension of the penalty if used to enhance Boeing's compliance program. This follows other regulatory challenges for Boeing, including a grounding order for some 737 Max 9 jets.

Portfolio Pulse from Benzinga Neuro

March 01, 2024 | 3:30 am

DOGE-USD

A property in Portugal has been listed for sale in Dogecoin (CRYPTO: DOGE), marking a significant move towards integrating digital currency with real estate. This initiative, led by Dogecoin developer Paulo Vidal and facilitated by Remax Portugal, demonstrates the growing acceptance of cryptocurrencies. The transaction process is integrated into Remax's system, allowing payments in Dogecoin without altering the agency's existing infrastructure. This development not only showcases Dogecoin's potential beyond an internet currency but also sets a precedent for cryptocurrency in real estate transactions.

Portfolio Pulse from Murtuza Merchant

March 01, 2024 | 12:45 am

RIDEQ

The SEC has charged Lordstown Motors with misleading investors by exaggerating the demand for its flagship EV, the Endurance. Despite claiming over 100,000 pre-orders, many were from companies without fleets or intent to purchase. Lordstown, which went public via a SPAC merger in 2020, filed for bankruptcy in 2023.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:43 pm

BAC

BLK

HOOD

MS

SCHW

UBS

WFC

Merrill (Bank of America Corp.) and Wells Fargo & Co. have started offering Bitcoin ETFs to their wealth management clients, following SEC's approval of Bitcoin ETFs. This move is part of a broader trend with firms like Charles Schwab Corp., Robinhood Markets Inc., UBS Group AG, and potentially Morgan Stanley exploring similar offerings. BlackRock Inc. and Fidelity Investments have seen significant inflows into their Bitcoin ETFs, indicating strong demand. However, Vanguard Group Inc. remains skeptical about cryptocurrency investments.

Portfolio Pulse from Murtuza Merchant

February 29, 2024 | 10:18 pm

NRGV

Energy Vault Holdings, Inc. (NRGV) announced the interconnection of its first EVx 100 MWh gravity energy storage system in Rudong, China, and the groundbreaking of three additional systems. These developments are part of a larger expansion in China, with nine EVx systems totaling 3.7 GWh under construction. The Rudong and Zhangye City systems have been designated as 'new energy storage pilot demonstration projects' by China's National Energy Administration. This recognition and the ongoing construction underscore the growing adoption of Energy Vault's technology in China's renewable energy sector.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:01 pm