Streetbeat News

Regulatory

AAL

DAL

LUV

UAL

A Senate committee has approved a bill that significantly increases the maximum civil penalties for airline consumer violations, raising the cap from $25,000 per violation to $75,000. This legislative move aims to enforce stricter compliance and accountability among airlines regarding consumer rights and safety standards.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 4:23 pm

AAL

DAL

LUV

SPY

The U.S. Senate Commerce Committee has voted to approve a bill aimed at enhancing aviation safety by increasing the number of FAA aviation safety inspectors and air traffic control staff. Additionally, the bill seeks to prohibit airlines from imposing fees on families wishing to sit together during flights. This legislative move is part of broader efforts to improve the safety and consumer experience in the aviation sector.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 4:21 pm

ACB

CGC

TLRY

A recent poll in North Carolina shows strong voter support for the legalization of medical marijuana, indicating a potential shift in the state's cannabis policy landscape. This growing public support could influence legislative actions and impact companies involved in the cannabis industry.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 4:15 pm

AAL

ALK

DAL

JBLU

LUV

SAVE

SPY

UAL

ULCC

The U.S. Senate Commerce Committee voted against a proposal to increase the mandatory retirement age for airline pilots from 65 to 67. This decision impacts airlines and aircraft manufacturers by maintaining the current workforce age limit.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 4:07 pm

ACHR

Archer has received Part 145 Certification from the FAA, marking a significant milestone in its journey towards commercialization in 2025. This certification allows Archer to operate a repair and maintenance station, underscoring its commitment to safety and operational standards.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 4:01 pm

NSTG

NanoString Technologies has entered into a debtor-in-possession credit facility agreement, according to an SEC filing. The agreement provides for an initial loan of $12.5 million, with an additional $35 million available upon final court approval. Furthermore, there is a provision for a $95 million debt 'roll up' from a previous agreement.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:56 pm

HUT

MARA

RIOT

Bitcoin miners are selling their holdings at a record pace to fund expansion ahead of the April 2024 halving event, which will reduce mining rewards. This selling has contributed to a recent price pullback. Miner reserves have hit a six-year high in outflows following ETF approval. The halving is expected to decrease miner profitability, prompting sales to upgrade infrastructure. Central banks' anticipated interest rate cuts in 2024 could weaken the dollar, potentially increasing miner profits. Publicly listed mining companies like Marathon Digital, Riot Platforms, and Hut 8 Mining are in focus as the halving approaches.

Portfolio Pulse from Khyathi Dalal

February 08, 2024 | 3:25 pm

AAPL

GOOG

META

MSFT

Meta Platforms Inc (NASDAQ:META) is challenging a supervisory fee imposed by the EU under the new Digital Services Act (DSA), which is calculated as 0.05% of its annual global net income. This fee is part of the EU's efforts to monitor compliance with the DSA, requiring companies like Meta, Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Apple Inc (NASDAQ:AAPL), and others to enhance content policing measures. Meta's legal challenge, filed in Luxembourg's General Court, arises from disagreements over the fee calculation method, particularly the exemption of companies reporting a loss. This situation has led to an uneven distribution of the fee burden. The EU has also scrutinized other tech giants, including Microsoft Corp (NASDAQ:MSFT), under the DSA.

Portfolio Pulse from Anusuya Lahiri

February 08, 2024 | 3:16 pm

AMKBY

A.P. Moller - Maersk has announced that there is high uncertainty regarding the duration and degree of disruption in the Red Sea, indicating potential impacts on global shipping routes.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:07 pm

AAPL

MSFT

Apple Inc (AAPL) reported a 2% YoY revenue growth to $119.6 billion in its fourth quarter, surpassing Wall Street expectations and marking its first sales growth in a year, driven by record service revenue. Despite this, weak demand in China, where revenue slumped 13% YoY, overshadowed the achievement. Meanwhile, Microsoft Corporation (MSFT) surpassed Apple as the world's most valuable company, reaching a $3 trillion market cap, fueled by its strongest profit growth in over two years and AI integration across its business. Apple's services segment, including the App Store and Apple TV, grew 11% YoY, highlighting a shift in the company's revenue sources. Apple also introduced the Vision Pro headset, a significant product launch, and received 13 Academy Award nominations for its AppleTV+ content.

Portfolio Pulse from Upwallstreet

February 08, 2024 | 2:59 pm