Streetbeat News

Regulatory

MNTS

Momentus Inc.'s stock (MNTS) is trading lower following the announcement that the Space Development Agency (SDA) did not select the company for Tranche 2 Tracking Layer funding. Additionally, there are concerns about the company's ability to continue as a going concern.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 2:07 pm

EFTR

Trading for EFTR was halted and then resumed at 8:55 AM ET, with updated quotation resumption times following the release of news.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 1:55 pm

The SEC has charged Morgan Stanley and its former executive Pawan Passi with fraud related to the bank's block trading business. The charges allege that they provided institutional clients with confidential information about block trades, which was then used to front-run the trades. This practice gave an unfair advantage to certain clients and undermined market integrity. Morgan Stanley has agreed to pay a $35 million penalty to settle the charges, while Passi has not settled and is litigating the matter.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 1:35 pm

CVX

USO

XLE

XOM

Oil prices surged over 4% due to increased Middle East tensions after U.S.-led airstrikes on Houthi rebels in Yemen. Brent crude reached $80.50 a barrel, and WTI hit $75.02. The United States Oil Fund (USO) rose 3.5% in pre-market trade. The conflict raises concerns about oil flow through the critical Strait of Hormuz. Oil stocks like BP, Chevron, and ExxonMobil saw pre-market gains, as did the Energy Select Sector SPDR Fund (XLE). Refined products like gasoline and heating oil also moved higher.

Portfolio Pulse from Neil Dennis

January 12, 2024 | 1:25 pm

JPM

SPY

JPMorgan Chase & Co. (NYSE:JPM) reported a record quarterly profit and a Q4 beat, with shares rising in premarket trading. CEO Jamie Dimon expressed caution about the economy, citing stickier inflation and potentially higher rates than expected due to government spending, debt levels, and global events. Dimon's comments are significant as they come after December's CPI data exceeded expectations, and amid uncertainty about the Fed's monetary policy. The SPDR S&P 500 ETF Trust (NYSE:SPY) saw a slight premarket drop.

Portfolio Pulse from Shanthi Rexaline

January 12, 2024 | 1:08 pm

AAPL

ARKW

EBAY

FLXS

GOOGL

HOOD

STLA

TSLA

Shiba Inu (SHIB) sees a 400% increase in token burns and $1.38M in whale acquisitions. Cathie Wood of Ark Invest predicts Bitcoin could reach $1.5M by 2030. Robinhood lists all Bitcoin Spot ETFs, while Elizabeth Warren criticizes SEC's approval of them. Flexsteel Industries reports strong preliminary results. Trump's town hall garners 4.4M views, and US sanctions Russian entities over missile purchases. Apple and Google make tech headlines with new initiatives and layoffs, respectively. Tesla faces a share price drop and announces a price cut in China. Stellantis invests in battery tech, and eBay settles a harassment case.

Portfolio Pulse from Akanksha Bakshi

January 12, 2024 | 1:04 pm

AAPL

ADBE

AMZN

AVGO

GOOG

IRBT

MSFT

NVDA

QCOM

EU Antitrust Chief Margrethe Vestager met with executives from Apple, Alphabet, and Qualcomm to discuss compliance with the Digital Markets Act and competition policies. The DMA targets 'gatekeepers' with over 45 million monthly users and a market cap of 75 billion euros, imposing interoperability and choice requirements. The EU has fined tech giants like Google and Microsoft for antitrust violations and is scrutinizing big mergers, including Microsoft's investment in OpenAI, Amazon's merger with iRobot, and Adobe's acquisition of Figma.

Portfolio Pulse from Anusuya Lahiri

January 12, 2024 | 12:59 pm

FLXS

FTFT

VCIG

VCI Global Limited (NASDAQ:VCIG) shares dropped approximately 30% in pre-market trading due to the announcement of a $2.75 million public offering. Other stocks experienced significant movements in pre-market trading, with notable gainers including Volcon, Inc. (NASDAQ:VLCN), Charge Enterprises, Inc. (NASDAQ:CRGE), and Flexsteel Industries, Inc. (NASDAQ:FLXS), which reported strong preliminary Q2 results. Conversely, SEALSQ Corp (NASDAQ:LAES) and Future FinTech Group Inc. (NASDAQ:FTFT) were among the pre-market losers, with FTFT's CEO being charged with fraud and disclosure failures by the SEC.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 12:52 pm

SPR

The FAA announced it will audit Boeing's 737-9 Max production line and its suppliers to assess compliance with approved quality procedures following an emergency incident. This audit aims to ensure Boeing adheres to safety and quality standards.

Portfolio Pulse from Charles Gross

January 12, 2024 | 12:47 pm

MNTS

Momentus Inc. was informed on January 5th by the Space Development Agency that it was not selected for funding for the Tranche 2 Tracking Layer. The company has expressed substantial doubt about its ability to continue as a going concern, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

January 12, 2024 | 12:38 pm