Streetbeat News

Regulatory

KRE

NYCB

VLY

Financial regulators are set to scrutinize banks with significant commercial real estate (CRE) loan exposure. Valley National Bancorp and 15 other banks are highlighted for their high CRE loan growth and exposure. New York Community Bancorp, despite high exposure, is not under increased scrutiny due to slower growth. The SPDR S&P Regional Banking ETF saw a 2.4% increase, partly due to positive 13F filings and anticipation of Federal Reserve rate cuts.

Portfolio Pulse from Piero Cingari

February 15, 2024 | 7:33 pm

DIS

FOX

WBD

The streaming deal involving Disney, Fox, and Warner is under scrutiny by the Department of Justice (DOJ) for potential antitrust issues, as reported by Bloomberg Law. This review could impact the future operations and strategies of the companies involved in the streaming sector.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:16 pm

CBRE

GLD

IWM

TSLA

USO

WFC

U.S. stocks surged with the S&P 500 crossing 5,000 points, driven by strong corporate earnings and speculation of Fed rate cuts following disappointing retail sales. Small caps led gains, with the iShares Russell 2000 ETF up 1.4%. Commodities rose, with gold and crude oil prices increasing. Key ETFs like SPY, DIA, and QQQ showed varied performance. Sector-wise, energy stocks outperformed while technology lagged. Notable stock movements included Tesla's rise on regulatory optimism, Wells Fargo's gain after regulatory clearance, and mixed reactions to earnings reports from companies like CBRE, Deer & Company, and others.

Portfolio Pulse from Piero Cingari

February 15, 2024 | 7:12 pm

Citigroup reported an increase in credit card charge-offs to 2.65% in January 2024 from 2.34% in December 2023. Additionally, the credit card delinquency rate rose to 1.51% at the end of January 2024, up from 1.45% at the end of December 2023, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 7:06 pm

AAPL

META

SPOT

Meta Platforms Inc (NASDAQ:META) has introduced guidelines for small businesses to bypass Apple Inc's (NASDAQ:AAPL) App Store commissions by purchasing ads through a web browser. This move, aimed at avoiding Apple's up to 30% cut from in-app purchases, escalates the rivalry between the two tech giants. Apple's strict policies have been criticized by other companies as well, including Spotify Technology SA (NYSE:SPOT). Meta's ad revenue has been significantly impacted by Apple's privacy changes, with an estimated loss of $10 billion. The new ad purchasing policy will initially apply in the U.S. and expand to other regions later this year.

Portfolio Pulse from Anusuya Lahiri

February 15, 2024 | 7:06 pm

BTCUSD

ETHUSD

SPY

Fed's Waller has reiterated his stance against the need for a Central Bank Digital Currency (CBDC) in the U.S., according to Reuters. This position reflects ongoing debates about the role and necessity of digital currencies in the traditional financial system.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:40 pm

OXY

An Occidental Petroleum executive announced that the Federal Trade Commission's inquiries into the CrownRock deal will delay its closing, now anticipated in the second half of the year, according to Reuters citing a webcast.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:24 pm

LCID

TSLA

Lucid Group, Inc. (NASDAQ:LCID) shares rose over 3% after announcing new pricing for its Lucid Air Pure and Air Touring models, along with a $1,000 charging allowance for customers. The price adjustments make the Air Pure and Air Touring more affordable, with the former now starting at $69,900 and the latter at $77,900. This move comes as Lucid's shares have fallen over 40% in the last six months, a steeper decline than Tesla, Inc. (NASDAQ:TSLA). Additionally, Lucid faces scrutiny from the National Highway Traffic Safety Administration (NHTSA) over a recall remedy for its Air Sedans, with concerns that the software update for the high voltage coolant heater may not be sufficient. Lucid is set to report its Q4 2023 financial results on February 21, 2024.

Portfolio Pulse from Nabaparna Bhattacharya

February 15, 2024 | 6:03 pm

CEG

Constellation has filed for a license renewal with the NRC for its Clinton Clean Energy Center in Illinois, aiming to extend its operation by 20 years, through 2047. This move is part of Constellation's efforts to support carbon-free energy production and the regional economy. The Clinton facility, which powers 800,000 homes, is a key part of Illinois' clean energy future, with the renewal potentially providing 179 terawatt hours of additional carbon-free electricity. The company has also made other investments in clean energy, including acquiring a stake in the South Texas Project and uprate projects in Illinois and Maryland.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:01 pm

CRDL

Cardiol Therapeutics' stock is trading higher following the FDA's Orphan Drug Designation for its lead drug candidate aimed at treating pericarditis.

Portfolio Pulse from Benzinga Newsdesk

February 15, 2024 | 6:00 pm