Streetbeat News

Regulatory

RBGLY

Reckitt Benckiser's Mead Johnson Nutrition is recalling approximately 675,000 cans of Nutramigen Powder due to potential contamination with Cronobacter sakazakii bacteria. No illnesses have been reported, and tests for Cronobacter in the suspected batches were negative. The FDA has stated that mandatory testing does not guarantee the absence of bacteria due to potential uneven distribution of low-level contamination. The recall is not expected to significantly affect the U.S. supply of powdered infant formulas.

Portfolio Pulse from Benzinga Neuro

January 02, 2024 | 4:39 am

EWY

South Korean opposition leader Lee was attacked during a meeting with reporters in Busan. President Yoon has ordered a swift investigation and pledged full support for Lee's treatment, as per Yoon's office.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 3:10 am

BTCUSD

DOGEUSD

ETHUSD

Bitcoin surpassed $45,000 on the first day of 2024, marking the first time since April 2022 that it has reached this level, with a 5.7% increase over 24 hours. Ethereum and Dogecoin also experienced gains, though Dogecoin later saw a decline. The surge is attributed to the anticipation of spot Bitcoin ETF approvals, with 14 asset managers awaiting SEC decisions. Financial experts predict Bitcoin could reach between $60,000 and $100,000 in 2024. Meanwhile, stock futures remained flat, and a market pullback is considered healthy by some analysts. Cryptocurrency trader Michaël van de Poppe and Bitcoin maximalist Max Keiser expressed optimism for 2024, citing ETF approvals and regulatory frameworks as positive drivers.

Portfolio Pulse from Shivdeep Dhaliwal

January 02, 2024 | 3:06 am

ASML

The Dutch government has partially revoked ASML's license for shipping NXT:2050i and NXT2100i lithography systems to a few customers in China. ASML does not anticipate this revocation or recent U.S. export control restrictions to materially affect its financial outlook for 2023.

Portfolio Pulse from Charles Gross

January 01, 2024 | 11:24 pm

BTCUSD

Analysts predict a bullish future for Bitcoin in 2024, driven by the Bitcoin halving event and potential approval of a Bitcoin ETF in the U.S. After a 152% surge in 2023, the resolution of legal issues involving FTX and Binance has fueled optimism. Experts like Mark Mobius, Youwei Yang, James Butterfill, and Antoni Trenchev forecast Bitcoin prices ranging from $60,000 to $100,000 by the end of 2024.

Portfolio Pulse from Bibhu Pattnaik

January 01, 2024 | 9:27 pm

GPN

MA

V

FP Omni Technologies is suing TSYS Acquiring Solutions, a subsidiary of Global Payments Inc (GPN), for $500 million over alleged breach of contract. FP Omni claims it was misled about TSYS's ability to process cannabis transactions until 2024, which was disrupted when Visa (V) and Mastercard (MA) banned cannabis-related transactions. TSYS calls the lawsuit baseless, stating it cannot override federal regulations. The lawsuit also hints at potential future cannabis-friendly payment systems by TSYS, Visa, and Mastercard.

Portfolio Pulse from Maureen Meehan

January 01, 2024 | 7:33 pm

ETHUSD

On Sunday, 2,994.09 Ether (ETH) valued at approximately $6.93 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% annually, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -0.90% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

January 01, 2024 | 6:00 pm

COIN

Coinbase Global Inc (NASDAQ:COIN) has successfully expanded into the Canadian market, growing to around 200 employees and introducing Interac payments, which now account for over 80% of inflows. The company has worked closely with Canadian regulators to ensure a robust regulatory framework. Coinbase Canada's Country Director, Lucas Matheson, sees the approval of ETFs as institutional validation and believes it will increase demand and awareness. Coinbase is also investing in self-custody wallets and Layer Two solutions, aiming to update the financial system and address issues in industries like real estate through blockchain technology. Matheson is optimistic about the future, citing regulatory momentum and the potential for Canada to lead in the digital economy.

Portfolio Pulse from Stjepan Kalinic

December 31, 2023 | 6:57 pm

MTEN

Mingteng International Corporation Inc (NASDAQ:MTEN) is set to go public on Jan 2, 2024, with an IPO price range of $4.00 to $6.00 per share. The company plans to offer 2,000,000 shares at $5.00 each, with a 180-day lockup period. IPOs allow private companies to raise capital by offering shares on an exchange after meeting SEC requirements and establishing an offering range with investment banks.

Portfolio Pulse from Benzinga Insights

December 31, 2023 | 5:06 pm

EWY

SPY

North Korea plans to launch three additional military spy satellites in the next year. Kim Jong-un emphasized the need for rapid response to potential nuclear crises and the mobilization of all physical means, including nuclear force, as reported by Yonap citing state media.

Portfolio Pulse from Charles Gross

December 31, 2023 | 12:29 am