Streetbeat News

Regulatory

LQR

LQR House has regained compliance with the Nasdaq's minimum bid price requirement by maintaining its stock price above the $1 minimum bid price for 10 consecutive days.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:54 pm

SPY

Fed's Williams emphasizes that the main focus for the Federal Reserve is not on rate cuts but on achieving its objectives. He stresses the importance of not being swayed by market opinions. The ongoing effort to wind down the bond portfolio is proceeding as planned, with reserves still plentiful. Williams did not specify when the balance sheet reduction would end.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:49 pm

SPY

Federal Reserve's John Williams stated that financial conditions have tightened and that monetary policy is functioning as intended, suggesting that the Fed's actions are in a good place.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:46 pm

SPY

New York Federal Reserve President John Williams stated on CNBC's 'Squawk Box' that the central bank is not currently discussing rate cuts, despite holding its key interest rate steady for the third consecutive time. The Fed has indicated potential rate cuts in 2024 and beyond.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:41 pm

CTLT

Catalent, Inc. (CTLT) has regained compliance with NYSE continued listing standards after curing a previously disclosed non-compliance issue. The NYSE has removed Catalent from its noncompliant issuers list following the company's timely filing of its Annual Report on Form 10-K for the year ended June 30, 2023, and its Quarterly Report on Form 10-Q for the quarter ended September 30, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:40 pm

NIO

TSLA

Nio (9866.HK) plans to launch its more affordable Firefly brand in Europe by 2025, targeting family-oriented consumers with smaller models. The move comes as Chinese EV makers seek to expand in Europe amid slowing domestic demand and a cost advantage over Western competitors. However, the EU is scrutinizing Chinese EV imports for potential competition rule breaches. Nio, facing increased losses due to a price war initiated by Tesla (TSLA.O) and higher production costs, has reduced its workforce by 10% and is exploring spin-offs and partnerships to reduce expenses. Partnerships with Geely (0175.HK) and Changan Automobile (000625.SZ) aim to develop a new battery pack and chassis architecture.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:39 pm

AAPL

DELL

GOOG

GOOGL

HPE

HPQ

Apple Inc (NASDAQ:AAPL) stock hit a new 52-week high at $199.62 on Dec. 14, closing at $198.11. The stock has risen 58.40% this year, with technical indicators like the Golden Cross suggesting a short-term bullish trend. However, the RSI is nearing overbought territory, signaling potential near-term correction. Apple's App Store revenue, a significant part of its earnings, faces risks due to antitrust rulings and investigations, as highlighted by Epic Games' recent win against Google. Apple's P/E ratio is higher than the sector median and its peers, including Dell Technologies Inc (NYSE:DELL), HP Inc (NYSE:HPQ), and Hewlett Packard Enterprise Co (NYSE:HPE).

Portfolio Pulse from Surbhi Jain

December 15, 2023 | 1:35 pm

TAK

Takeda Pharmaceutical Company Limited has received a positive opinion from the Committee for Medicinal Products for Human Use (CHMP) for HYQVIA as a maintenance therapy for patients with Chronic Inflammatory Demyelinating Polyneuropathy (CIDP). The European Commission will review this opinion for potential marketing authorization in the EU. HYQVIA is an up to once-monthly subcutaneous treatment that can be administered at home or in-office. The CHMP's positive opinion is based on the Phase 3 ADVANCE-CIDP 1 study, which met its primary endpoint by showing a statistically significant reduction in the relapse rate of CIDP patients.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 1:23 pm

CLVR

KHRNF

PCLOF

Colombia's Senate has postponed the consideration of a bill to legalize marijuana, despite the measure having previously advanced through the Chamber of Representatives and a Senate committee. President Gustavo Petro criticized the Senate's decision, stating it would benefit illegal drug trade and increase violence. If the reform is to be pursued, the legislative process must restart next year. Cannabis companies like Clever Leaves Holdings Inc. (CLVR), PharmaCielo Ltd. (PCLOF), and Khiron Life Sciences Corp. (KHRNF) could benefit from such policy changes. The article also promotes Benzinga PotProfits, a service for cannabis stock investment opportunities.

Portfolio Pulse from Jelena Martinovic

December 15, 2023 | 1:21 pm

BAC

BCS

Elon Musk is ordered by Judge Laurel Beeler to testify again in the SEC's investigation into his $44-billion Twitter takeover. The SEC claims new documents require Musk's further testimony. Musk's history with the SEC includes a 2018 settlement over misleading tweets, which he is now appealing to the Supreme Court. The SEC is also probing the timeliness and accuracy of Musk's disclosures during the Twitter acquisition. Banks that funded the takeover, including Morgan Stanley, Bank of America, and Barclays, face potential losses on their $13 billion backing, with the debt's value dropping and doubts about Twitter's management under Musk.

Portfolio Pulse from Neil Dennis

December 15, 2023 | 1:20 pm