Streetbeat News

Regulatory

AMZN

Russian authorities are enforcing penalties for displaying rainbow-colored items under a Supreme Court ruling that declared LGBTQ+ activism as extremism. Fines and jail time have been imposed on individuals for such displays. This crackdown is part of Russia's broader policy against the LGBTQ+ community, including a recent law signed by President Putin prohibiting gender changes. In related actions, Amazon's Twitch and TikTok were fined in October 2022 for not removing content deemed as LGBT propaganda.

Portfolio Pulse from Benzinga Neuro

February 06, 2024 | 7:00 am

AAPL

TSLA

U.S. Transportation Secretary Pete Buttigieg issued a warning to Tesla drivers against using Apple's Vision Pro VR headset while driving, emphasizing the need for driver attentiveness despite Tesla's advanced driver assistance systems. The warning followed a viral video of a Tesla Cybertruck driver using the headset. Tesla has not commented, while Apple advises against using the headset while driving. Tesla continues to advance its autonomous driving technology, with recent updates to its Full Self-Driving beta and customer benefits.

Portfolio Pulse from Benzinga Neuro

February 06, 2024 | 5:51 am

EWA

Australia's central bank has decided to keep the interest rate unchanged at 4.35% for February. This decision could impact investments related to the Australian economy, including the iShares MSCI Australia ETF (EWA).

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 5:30 am

GRAM

STHZF

California's cannabis market, six years post-legalization, faces challenges like oversupply and illicit trade, impacting financial expectations despite generating $5.7 billion in taxes. StateHouse Holdings (OTC:STHZF) and Gold Flora (OTC:GRAM) are highlighted as key players, with Zuanic & Associates providing analysis. StateHouse faces revenue drops and debt concerns, while Gold Flora thrives amid market consolidation with strong financials and strategic expansion. The market sees price pressures and a trend towards consolidation, with a few brands dominating. The upcoming Benzinga Cannabis Conference in Los Angeles aims to connect industry leaders and investors.

Portfolio Pulse from Nicolás Jose Rodriguez

February 06, 2024 | 4:26 am

SPY

Jim Cramer, host of CNBC's 'Mad Money', recommends investors to buy stocks before the Federal Reserve cuts rates, despite other financial experts warning of a potential market downturn. Cramer believes significant gains can be made in the current market, especially in sectors like technology, industrials, travel, and healthcare. He contrasts his optimistic view with warnings from experts like Robert Prechter and John Hussman, who predict steep market declines. Federal Reserve Chairman Jerome Powell indicated rate cuts might happen in 2024, but not as soon as March.

Portfolio Pulse from Benzinga Neuro

February 06, 2024 | 2:30 am

LYV

The US Department of Justice (DoJ) has intensified its antitrust investigation into Live Nation Entertainment by issuing new requests for information. This move suggests a deeper probe into the company's practices, potentially focusing on issues related to market dominance and anti-competitive behavior.

Portfolio Pulse from Charles Gross

February 06, 2024 | 12:21 am

CAT

DE

KMTUY

UBS predicts a bull market for gold and silver in 2024, driven by potential Federal Reserve interest rate cuts, with gold expected to reach $2,200 per ounce. The global mining equipment market is also forecasted to grow significantly, benefiting companies like Deere & Company, Caterpillar, and Komatsu America Corp. South Africa's President highlights challenges in the mining sector, including energy shortages and illegal activities, impacting the country's attractiveness to investors.

Portfolio Pulse from Austin DeNoce

February 05, 2024 | 10:44 pm

PED

PEDEVCO Corp. has received approval for its development plan for the Roth 2-11 wells in the D-J Basin, marking a significant step forward in its exploration and production efforts in the region.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 10:24 pm

BFRI

Biofrontera has announced the FDA's acceptance of a supplemental new drug application for Ameluz, allowing up to three tubes per use. The FDA has set a target action date of October 4, 2024.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 10:19 pm

SPCE

Virgin Galactic Holdings, Inc. (SPCE) reported to the FAA that an alignment pin detached from the mothership during the 'Galactic 06' flight. The issue, discovered during a standard post-flight review, did not pose a safety risk to the crew or vehicles. Virgin Galactic is conducting a review with the FAA, emphasizing that the flight was successful and adhered to safety protocols.

Portfolio Pulse from Charles Gross

February 05, 2024 | 10:04 pm