Streetbeat News

Regulatory

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

SPY

U.S. Treasury Secretary Yellen emphasized the need for the U.S. to reduce its deficits to ensure fiscal sustainability. She noted that most forecasters and the Congressional Budget Office (CBO) expect interest rates to decline somewhat.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 2:38 pm

FBLG

FibroBiologics has been granted three U.S. patents for its innovative fibroblast technology aimed at repairing cartilage and treating disc degenerative disease, as well as for gene therapy for the regeneration of chondrocytes or cartilage type cells. The patents underscore the company's advancements in medical treatments using fibroblast technology.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 2:34 pm

DIS

FUBO

SFTBY

Cryptocurrencies surge amid small banking fears and potential regulatory advancements. US markets show signs of overbought levels but remain optimistic. Political and global events continue to influence market sentiments. Tech and EV sectors see significant developments, while consumer and communication sectors experience notable stock movements. Financial sector reports gains, particularly for SoftBank. General news highlights include corporate and legal updates.

Portfolio Pulse from Akanksha Bakshi

February 08, 2024 | 2:28 pm

IINN

IINNW

Inspira Technologies (IINN, IINNW) has signed a non-binding LOI with Shamir Medical Center in Israel for the clinical evaluation of its INSPIRA ART100 device, aimed at improving life-support care. This collaboration, pending AMAR approval, will assess the device's integration, efficiency, and impact on healthcare delivery. The evaluation will be led by Dr. Eduard Ilgiyaev, with the hospital procuring necessary disposables. Inspira anticipates FDA approval and sees this as a step towards global market adoption.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 2:08 pm

SSNC

SS&C Technologies has formed a strategic partnership with Regnology to deliver a fully integrated risk and regulatory reporting solution. This collaboration aims to streamline compliance processes and provide analytical insights, helping institutions quickly adapt to regulatory changes.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 2:04 pm

NVVE

Nuvve Holding Corp. (NVVE), a green energy technology company specializing in vehicle-to-grid (V2G) technology, announced it has regained compliance with the Nasdaq minimum bid price rule. The company's stock had a closing bid price of $1.00 or greater for 10 consecutive business days, from January 22, 2023, to February 2, 2024, meeting the Nasdaq Listing Rule 5550(a)(2) requirements.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 2:04 pm