Streetbeat News

Regulatory

AMKBY

A. P. Moller Maersk A/S (OTC:AMKBY) signed an MoU with Yokohama and Mitsubishi Gas Chemical to develop green methanol bunkering infrastructure. Maersk's new methanol-powered vessels will be delivered from 2024. Additionally, Maersk will resume sending vessels through the Red Sea, under the protection of Operation Prosperity Guardian, instead of rerouting around southern Africa. This change is expected to improve global trade efficiency. AMKBY shares dropped 2.10% to $8.85.

Portfolio Pulse from Lekha Gupta

December 28, 2023 | 4:38 pm

NIO

NIO Inc (NYSE:NIO) shares are rising due to positive policy commentary from China's central bank, which plans to support the economy and promote recovery. The People's Bank of China (PBOC) will increase macroeconomic policy adjustments, boosting financial support for enterprises. Nio's stock has also been buoyed by the launch of its new ET9 sedan and a $2.2 billion strategic equity investment from CYVN Investments, which now owns approximately 20.1% of Nio's common stock. Nio plans strategic and technology collaborations with CYVN internationally.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 4:29 pm

CBDD

CBD of Denver, Inc. (OTC:CBDD) reported increased Q4 revenue, reaching $1.310 million, with Luxora contributing approximately $1.134 million and Libra 9 about $176,000. The company's growth is attributed to partnerships and market strategies, including a teleshopping partnership and trade show presence. Luxora's expansion in the European CBD wholesale market and potential entry into the German market are key growth drivers. The legalization of marijuana in Germany, which could impact Luxora, has been postponed to 2024. CBDD's stock rose 16.6667% to $0.0007 post-market on Wednesday.

Portfolio Pulse from Jelena Martinovic

December 28, 2023 | 4:02 pm

VEXTF

Vext Science, Inc. has reached agreements with debenture holders to convert $4.6 million of debt into 27,700,625 common shares at $0.175 each. The conversion is subject to regulatory approval and will release all security held by the debenture holders. Sopica Special Opportunities Fund Limited, an insider shareholder, is participating, making this a related party transaction. VEXTF's stock rose 9% to $0.218 after the announcement.

Portfolio Pulse from Jelena Martinovic

December 28, 2023 | 3:57 pm

CAKE-USD

PancakeSwap, a decentralized exchange, has proposed to reduce the supply of its native token, CAKE, from 750 million to 450 million. The reduction aims to transition from a high-inflation model to a deflationary framework. The community vote on this proposal was scheduled for Dec. 28, 2023. The reduction is part of PancakeSwap's strategy to provide certainty, achieve 'ultrasound CAKE,' and support future growth. The circulating supply of CAKE is currently 388 million, and if approved, the supply cut will be implemented by Jan. 4, 2024.

Portfolio Pulse from Murtuza Merchant

December 28, 2023 | 3:51 pm

SPY

USO

VGK

The U.S. Department of the Treasury's OFAC has designated individuals and entities for facilitating Iranian financial support to Houthi forces, impacting international shipping. The sanctions target a network including exchange houses in Yemen and Türkiye, aiming to disrupt the flow of funds to the Houthis. The actions are based on Executive Order 13224, which focuses on counterterrorism efforts. Sanctioned parties' assets in the U.S. are blocked, and U.S. persons are generally prohibited from dealing with them.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:49 pm

NRBO

NeuroBo Pharmaceuticals' stock is trading higher following the submission of an IND application to the FDA for a Phase 1 trial of its obesity treatment, DA-1726.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:43 pm

NRBO

NeuroBo Pharmaceuticals' stock is trading higher following the submission of an IND application to the FDA for a Phase 1 trial of its obesity treatment, DA-1726.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:42 pm

AAPL

ADDDF

MCD

SBUX

Adidas and Apple are considering shifting manufacturing away from China due to security concerns and strained US-China relations. Meanwhile, McDonald's and Starbucks are expanding their presence in China, with McDonald's planning to open 3,500 new stores and Starbucks investing $220 million in a facility. Despite overall foreign investment decline in China, American fast-food chains see the large market as an opportunity. The US government continues to encourage companies to reduce reliance on China for critical materials and high-tech products.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:35 pm

NBBK

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

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 3:35 pm