Streetbeat News

Regulatory

EIS

SPY

USO

Qatar's Prime Minister has indicated that significant progress was made in laying the groundwork for a potential resolution regarding hostages, which could eventually lead to a permanent ceasefire.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:18 pm

F

FXI

SPY

U.S. lawmakers have requested the Biden Administration to impose export restrictions on four Chinese companies involved in Ford Motor's planned battery plant in Michigan. This could potentially affect the progress of the plant and Ford's electric vehicle strategy.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 5:16 pm

BABA

MCHI

China's proposed $278 billion stimulus to rescue its markets may not be effective, with fears of social unrest and a comparison to the US 2008 recession. The iShares MSCI China ETF (MCHI) is down 4% this year and 37% since inception. Alibaba (BABA) lost 38% in value over the past year. CITIC Securities restricted short selling, and China plans to inject funds into markets via Hong Kong. China's debt-to-GDP ratio hit a record 286%, and there's skepticism about the stimulus' effectiveness and concerns about global contagion risks.

Portfolio Pulse from Caleb Naysmith

January 29, 2024 | 5:00 pm

AMZN

IRBT

FTC staff recommended the Commission to vote against Amazon's acquisition of iRobot, with a final meeting set before a potential lawsuit to block the deal.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 4:53 pm

UBS

Two key shareholders of UBS Group AG have expressed concerns about the bank's size and potential regulatory issues. They are worried that the bank's scale could lead to increased scrutiny and regulatory challenges, which may affect its operations and financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 4:26 pm

JNJ

Johnson & Johnson (NYSE:JNJ) settled an opioid lawsuit with Washington state, agreeing to pay $149.5 million to address the financial and societal impacts of opioid misuse allegedly caused by the company. The settlement, which is more than the $98.9 million offered in a 2021 multistate settlement, requires $123.3 million to be used to combat the opioid epidemic. J&J was accused of misleading marketing practices and supplying raw materials for opioids. The payment is due within 21 days of local government ratification by May.

Portfolio Pulse from Nina Zdinjak

January 29, 2024 | 4:19 pm

TAK

The FDA has approved Takeda's GAMMAGARD LIQUID for adults with Chronic Inflammatory Demyelinating Polyneuropathy (CIDP). This approval is based on Phase 3 ADVANCE-CIDP study data, which demonstrated the safety and efficacy of GAMMAGARD LIQUID as an intravenous therapy. With this new indication, GAMMAGARD LIQUID becomes the only intravenous immune globulin (IVIG) approved for multiple neuromuscular disorder indications in the U.S.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 4:11 pm

BLK

BTCUSD

Harvest Fund has applied for the first Bitcoin spot ETF in Hong Kong, indicating growing acceptance of cryptocurrencies in financial markets. This follows the SEC's approval of Bitcoin spot ETFs in the U.S. The approval could attract more investors, including those from China, where the stock market underperformed in 2023. Anndy Lian suggests this could lead to more Chinese investment in crypto. The SFC aims to list the ETF on the Hong Kong Stock Exchange after the Chinese New Year, potentially allowing direct Bitcoin subscriptions.

Portfolio Pulse from Murtuza Merchant

January 29, 2024 | 4:03 pm

AMIX

Trading for the IPO security AMIX was halted but has now resumed as of 10:35 AM ET.

Portfolio Pulse from Benzinga Newsdesk

January 29, 2024 | 3:35 pm