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Regulatory

BTCUSD

El Salvador's 'Volcano Bond' has received regulatory approval, with plans to launch in Q1 2024. This bond aims to reduce sovereign debt and fund the construction of 'Bitcoin City', a hub for cryptocurrency and blockchain technology. The bond will be issued on the Bitfinex Securities Platform and is part of El Salvador's broader commitment to Bitcoin, including a $1 billion Bitcoin mining project using geothermal energy from volcanoes.

Portfolio Pulse from Murtuza Merchant

December 12, 2023 | 3:45 pm

SPY

VGK

Ukrainian President Volodymyr Zelensky has arrived at the U.S. Congress and is concluding a meeting with Senate Minority Leader Mitch McConnell and Senate Majority Leader Chuck Schumer. A statement is expected to be released shortly following the meeting.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:44 pm

SPY

VGK

U.S. Senator Murphy expressed optimism that the Senate could reach an agreement on Ukraine aid and border security before Christmas, provided that Congress postpones its upcoming recess. This development could influence market sentiment and defense-related stocks.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:35 pm

ADBE

Adobe Inc. (NASDAQ:ADBE) is expected to report Q4 earnings of $4.14 per share, up from $3.60 per share a year ago, with revenue estimated at $5.03 billion, up from $4.53 billion. The company faces an EU antitrust complaint over its $20 billion Figma acquisition. Shares rose 0.3% to $627.11. Analysts have recently adjusted price targets, with the most accurate analysts maintaining positive ratings and raising targets.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 3:32 pm

CHH

WH

Choice Hotels CEO Patrick Pacious commented on the Wyndham proposal, expressing belief that the regulatory process will conclude in under a year, which aligns with customary timelines.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:25 pm

SPY

U.S. Treasury Secretary Janet Yellen emphasized the importance of cooperation with China to tackle global challenges such as debt and climate change. Speaking at a WSJ event, Yellen mentioned ongoing conversations with Chinese counterparts to make progress in these areas.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:08 pm

PTPI

Petros Pharmaceuticals has completed a Human Factors Study, a key step in the FDA approval process for converting its prescription erectile dysfunction drug, Stendra, to over-the-counter (OTC) status. This study is intended to support the company's application for a prescription to OTC switch, potentially increasing patient access to Stendra.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:04 pm

ZS

Zscaler has expanded its portfolio with new AI-powered features in its Zscaler Risk360 and Zscaler Digital Experience Monitoring products. The enhancements include tools for managing SaaS utilization, visualizing office use, cybersecurity maturity assessments with generative AI, integration with third-party data like CrowdStrike, financial risk models with Monte Carlo simulations, and compliance features for SEC reporting. ZDX improvements offer AI-powered root cause analysis, self-service for end-users, proactive performance monitoring, and simplified collaboration between IT teams.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 3:01 pm

SPY

U.S. Treasury Secretary Janet Yellen, speaking at a Wall Street Journal event, acknowledged that shelter costs are still rising but are expected to decrease over time. She emphasized that the Biden Administration is actively working to reduce prices for consumers.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:58 pm

CHH

WH

Wyndham Hotels & Resorts (NYSE:WH) has received an unsolicited exchange offer from Choice Hotels International, Inc. (NYSE:CHH) to acquire all outstanding shares of Wyndham at approximately $86 per share. The offer is unchanged from a previous proposal that Wyndham's Board rejected due to concerns over antitrust approval, undervaluation, and the impact of Choice's leverage. Wyndham's Board, with advisors, will review the offer and advise shareholders within ten business days. Shareholders are urged not to take action until then. Choice owns less than 1.7% of Wyndham's stock and is restricted from further purchases without antitrust approval.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 2:47 pm