Streetbeat News

Regulatory

YQ

17 Education & Technology Group Inc. has announced that it has regained compliance with Nasdaq's minimum bid price requirement. The company received a notification from Nasdaq stating that it has met the minimum bid price condition by maintaining a closing bid price of $1.00 per share or more for at least 10 consecutive business days.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 10:28 am

FDX

INDA

SPY

UPS

India's competition watchdog is investigating DHL, FedEx, and UPS for alleged antitrust practices and price collusion. The inquiry, which began in October, focuses on potential violations of Indian antitrust laws.

Portfolio Pulse from Charles Gross

January 05, 2024 | 10:09 am

TSLA

Tesla Inc (NASDAQ:TSLA) is recalling over 1.6 million vehicles in China due to concerns about the misuse of its autosteer feature. The company will address the issue with a software update that reminds drivers to follow driving regulations. This follows a similar recall in the U.S. last month, which affected over 2 million vehicles.

Portfolio Pulse from Anan Ashraf

January 05, 2024 | 9:56 am

AAPL

Apple Inc.'s suppliers have spent $16 billion since 2018 to reduce reliance on Chinese manufacturing due to trade conflicts, COVID-19 disruptions, and energy issues. The diversification includes shifting production to India, Mexico, the U.S., and Vietnam. Despite these efforts, China remains a key production hub for iPhones, but Apple plans to increase iPhone production in India to over 50 million units annually within a few years. Chinese restrictions on Apple products are expanding, potentially affecting sales in China.

Portfolio Pulse from Ananya Gairola

January 05, 2024 | 8:53 am

ANTE

AirNet Technology has received a Deficiency Letter from Nasdaq due to non-compliance with listing rules, specifically negative stockholders' equity of approximately $25.3 million and failure to meet market value or net income criteria for continued listing. The letter does not immediately result in delisting from the Nasdaq Capital Market.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 6:36 am

TSLA

Tesla Inc. is exploring the introduction of an entry-level electric vehicle (EV) for the Indian market, priced around $24,000. The plan involves using smaller, quick-charging batteries to reduce costs, similar to the strategy in China. Tesla's success hinges on the development of a robust fast-charging network in India, where the current infrastructure is sparse. The company is in talks with the Indian government for support in charger and battery production development. Tesla is also considering a $2 billion investment in an Indian factory contingent on reduced import duties.

Portfolio Pulse from Shomik Sen Bhattacharjee

January 05, 2024 | 5:56 am

MS

James Gorman, former CEO of Morgan Stanley, expressed skepticism about Bitcoin's value as a storage medium, considering it too speculative and volatile for it to be a core investment. Despite this, he acknowledged that Bitcoin is not a fad and is here to stay. Gorman also commented on the recent bank failures, attributing them to poor management rather than an industry crisis, and shared a positive outlook on the U.S. economy, downplaying the likelihood of a recession.

Portfolio Pulse from Benzinga Neuro

January 05, 2024 | 4:27 am

BTCUSD

ETHUSD

GBTC

Bitcoin recovered to over $44,000, with the global cryptocurrency market cap rising to $1.66 trillion. Grayscale and VanEck reignited hopes for a U.S. Spot ETF approval with new filings. The Crypto Fear & Greed Index indicated 'Greed' at a value of 72. Analysts predict a bullish run for Bitcoin and Ethereum, with potential price targets of $48,000 and $57,000 for Bitcoin. Ethereum's non-exchange whales are accumulating, suggesting positive sentiment.

Portfolio Pulse from Shivdeep Dhaliwal

January 05, 2024 | 3:12 am

MSFT

NYT

OpenAI is negotiating licensing deals with various publishers while facing a copyright lawsuit from The New York Times Co. (NYSE:NYT). Tom Rubin of OpenAI is optimistic about the negotiations, despite the lawsuit which also involves Microsoft Corporation (NASDAQ:MSFT). OpenAI previously secured agreements with Axel Springer SE and The Associated Press, but the lawsuit from NYT could disrupt operations, as it alleges unauthorized use of articles for AI training without permission.

Portfolio Pulse from Ananya Gairola

January 05, 2024 | 2:07 am

SABS

Trading on the stock of SABS has been halted at 7:50:00 p.m. ET due to pending news. The halt is in place to manage market orderliness and investor protection pending the release of material news.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 12:50 am