Streetbeat News

Regulatory

ALK

DAL

LUV

SKYW

UAL

Over 1,600 flights were canceled in the U.S. due to a severe winter storm causing power outages and disruptions. Delta Air Lines, Southwest Airlines, SkyWest, and United have all experienced significant cancellations and delays. United is also dealing with regulatory issues regarding the Boeing 737 MAX 9 jets after an incident with an Alaska Air Group flight. Shares of Delta Air Lines dropped 8.2% amid these disruptions.

Portfolio Pulse from Shivani Kumaresan

January 12, 2024 | 3:45 pm

SPY

USO

The White House, through spokesperson John Kirby, has announced that the U.S. is currently assessing the impacts of recent airstrikes on Iran-backed Houthi forces. The situation is being closely monitored to understand the repercussions of these military actions.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 3:44 pm

MDAI

Spectral AI, Inc. (NASDAQ:MDAI) stock is trading higher after the company announced the enrollment of the first patient in a study to validate its DeepView AI technology for burn injuries. This study is the final clinical trial before seeking FDA marketing authorization for the burn indication in 2025. The company has been using $251 million of non-dilutive government funding since 2019 to validate DeepView for burn indication and is also advancing other clinical indications. The stock experienced heavy trading volume, with over 15.3 million shares traded compared to its 100-day average volume of just under 972,000 shares.

Portfolio Pulse from Erica Kollmann

January 12, 2024 | 3:43 pm

LKNCY

Guming Holdings Ltd., a Chinese tea shop chain, has applied for a Hong Kong IPO, aiming to expand its franchise network and compete in China's mid-priced tea market. With 9,001 outlets, mostly franchised, Guming's profits tripled in the first nine months of last year. The company's success is attributed to its franchise model, competitive pricing, and focus on second- and third-tier cities. Guming faces competition from Mixue Group and established brands like Nayuki and Heytea, which are also adjusting prices to capture market share. Luckin Coffee (OTC:LKNCY) is also mentioned as a competitor in the beverage market.

Portfolio Pulse from The Bamboo Works

January 12, 2024 | 3:28 pm

SPY

USO

The U.S. has imposed counterterrorism sanctions on four oil tankers as part of its efforts to combat terrorism. The sanctions are aimed at disrupting the financial networks that support terrorist activities. The specific details of the sanctions, such as the names of the tankers or the regions they operate in, were not provided in the summary. However, the sanctions could potentially affect the oil market and related ETFs like SPY and USO, which track sectors including energy and oil.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 3:16 pm

RMD

The FDA has classified ResMed Ltd's (NYSE:RMD) recall of certain CPAP masks with magnets as a Class I recall, the most serious type. The magnets may interfere with certain medical devices, potentially causing serious harm or death. ResMed is updating labels to include more warnings and has recalled over 20 million devices in the U.S. since November 20, 2023. There have been six reported injuries but no deaths. RMD shares dropped 0.47% to $177.06.

Portfolio Pulse from Vandana Singh

January 12, 2024 | 3:07 pm

CMG

Senator John W Hickenlooper sold between $100,001 and $250,000 worth of Chipotle Mexican Grill (NYSE:CMG) stock on January 11, 2024, as reported by a Periodic Transaction Report from the U.S. Senate. Chipotle's shares were trading at $2276.51 with no change at the time of the report. Congressional transactions are not primary indicators for investing decisions but can be considered by investors. The STOCK Act prevents Congress members from using non-public information for personal gain in stock transactions.

Portfolio Pulse from Benzinga Insights

January 12, 2024 | 3:05 pm

601899.SS

LUG.TO

Zijin Mining Group is investing $97 million in Solaris Resources to advance its Warintza copper project in Ecuador. Zijin will purchase 28.5 million shares at a 14% premium, becoming the second-largest shareholder with about 15% ownership. The investment will help Solaris leverage Zijin's expertise and financial capacity. Despite security concerns in Ecuador, mining operations continue with enhanced measures, and no foreign companies have left the country.

Portfolio Pulse from Stjepan Kalinic

January 12, 2024 | 2:59 pm

CRGE

GNS

LAES

MDAI

VCIG

VLCN

U.S. stocks traded higher following the release of Producer Price Index (PPI) data showing a 0.1% decline in December, aligning with the previous month and defying market expectations of a 0.1% increase. Energy shares led gains with a 1.4% jump, while consumer discretionary shares saw a marginal rise. Charge Enterprises (CRGE), Spectral AI (MDAI), and Volcon (VLCN) experienced significant stock price increases. Conversely, Genius Group (GNS), VCI Global (VCIG), and SEALSQ Corp (LAES) saw their shares fall sharply after announcing public offerings and closing of private placements. Commodities like oil and gold traded higher, and European and Asian markets showed mixed results.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 2:55 pm

EWU

SPY

USO

The internationally recognized government of Yemen has stated that a U.S./U.K military operation is a response to the Houthi rebels' ongoing targeting of international shipping in the Red Sea. The government blames the Houthis for turning Yemen into a battleground, according to a statement cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 2:32 pm