Streetbeat News

Regulatory

AMZN

PYPL

Amazon has announced it will stop accepting Venmo as a payment method for subscriptions starting January 10, 2024. The company has advised customers to update their payment options in the 'Your payments' section of their account. While Venmo in its current form will be discontinued, Venmo's debit and credit cards can still be used on Amazon. This decision may influence other e-commerce platforms to reassess their payment methods and reflects the evolving nature of digital payments.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 3:16 pm

SPY

VGK

The U.S. Treasury Department has updated its website to announce the imposition of new sanctions related to Russia. These measures are part of the ongoing U.S. response to Russia's actions and are aimed at exerting economic pressure.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 3:08 pm

BTCUSD

ETHUSD

HOOD

MATICUSD

SOLUSD

Robinhood Markets Inc. is expanding in the EU with its commission-free cryptocurrency trading service, following its UK stock trading launch. The app offers trading of over 25 cryptocurrencies, including Bitcoin, Ether, and Solana. A loyalty program with Bitcoin cashback is also introduced. Despite a 75% increase in crypto trading volumes in November, Robinhood's overall crypto trading volumes declined by 55% in Q3 year-over-year. Regulatory challenges have led to the removal of some tokens in the U.S., and the company will need to comply with the EU's MiCA regime by 2025.

Portfolio Pulse from Murtuza Merchant

December 07, 2023 | 3:07 pm

ASLE

AerSale Corp (ASLE) shares surged after receiving an FAA Supplemental Type Certificate for its AerAware EFVS for Boeing's (BA) B737NG. AerAware is the first commercial EFVS to offer a 50% visual advantage and the first dual-pilot EFVS solution with a Head-Wearable Display. Developed under Boeing's license, AerAware enhances safety and efficiency, potentially reducing airline operating costs. ASLE's stock rose 11.93% to $15.95.

Portfolio Pulse from Shivani Kumaresan

December 07, 2023 | 2:56 pm

HTHIY

Hitachi (OTC:HTHIY) has issued the largest digital green bonds in Japan, totaling $68 million, with a coupon rate of 0.598%. Nippon Life Insurance purchased half of the offering. The bonds, which are part of Japan's move towards innovative issuance in the corporate debt market, will leverage the Green Tracking Hub to enhance transparency of environmental impacts. The hub is developed by Hitachi and JPXI, with blockchain support from BOOSTRY. Trading on the exchange is set to begin at the end of December.

Portfolio Pulse from Khyathi Dalal

December 07, 2023 | 2:38 pm

BTCUSD

ETHUSD

Bitcoin's value has risen by 15% due to anticipation of spot ETF approvals. The SEC's final deadline for rebuttal comments is Jan. 5, 2024, hinting at a possible approval soon after. The market is watching for the actual investment flows post-approval to determine Bitcoin's price direction. The symbolic date of Jan. 3, 2024, marks Bitcoin's 15th anniversary and could coincide with the approval. Thirteen applications for spot ETFs are in contention, with more traditional finance products related to Bitcoin and Ethereum being filed.

Portfolio Pulse from Murtuza Merchant

December 07, 2023 | 2:25 pm

AAPL

CRM

META

PLTR

TSLA

Bitcoin's bull run has led to a $2.6 billion loss for short sellers. SpaceX is negotiating an insider share sale at a $175 billion valuation. Sprinklr's earnings disappoint, while Ark Invest buys more Palantir stock. Crypto market shows mixed reactions post-jobs data. US and world economy reports indicate mixed sentiments. Tech companies like Apple and Meta are making AI advancements. Tesla faces accusations from a bear and launches new initiatives. McDonald's and Renault reveal new concepts, while GM's share buyback draws comparisons to BlackBerry. EU moves towards messaging app integration, and Meta enhances security. SpaceX's valuation talks and payload launch goals highlight space industry developments.

Portfolio Pulse from Akanksha Bakshi

December 07, 2023 | 2:21 pm

TCNNF

The DEA has issued warnings to pharmacies in Georgia that dispensing medical marijuana, specifically THC oil, violates federal law. Despite the Georgia Board of Pharmacy's recent allowance for independent pharmacies to dispense THC oils, the DEA's memo clarifies that marijuana and THC are Schedule 1 controlled substances and cannot be lawfully handled by DEA-registered pharmacies. SAM, an organization opposing marijuana legalization, praised the DEA's stance. Meanwhile, the federal government's position on marijuana may be shifting, as Health and Human Services recommended reclassifying marijuana to a Schedule III Substance. Four companies recently received provisional licenses to produce low-THC oil in Georgia, joining the two existing licensed producers, including Trulieve Cannabis Corp (OTCQX:TCNNF).

Portfolio Pulse from Nina Zdinjak

December 07, 2023 | 2:20 pm

AAPL

BABA

BIDU

MSFT

NVDA

TCEHY

TSLA

Microsoft Corp's President Brad Smith met with China's Commerce Minister to discuss AI and trade, signaling potential cooperation between the U.S. and China. This follows a meeting between Presidents Biden and Xi Jinping. China is encouraging foreign enterprise services, with Microsoft expected to contribute to AI cooperation. U.S. tech firms face challenges due to technology tensions and export restrictions, notably Nvidia's AI chips. Despite this, recent visits by CEOs of Apple and Tesla to China indicate improving relations. Microsoft shares saw a slight premarket decrease.

Portfolio Pulse from Anusuya Lahiri

December 07, 2023 | 2:17 pm

ASLE

AerSale's stock is trading higher following the announcement that the FAA has granted a Supplemental Type Certificate for AerAware, the company's Enhanced Flight Vision System designed for the Boeing B737NG series.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 2:04 pm