Streetbeat News

Regulatory

META

Meta Platforms Inc. (NASDAQ:META) has lost an appeal in a privacy dispute with the U.S. Federal Trade Commission (FTC). The U.S. District Court for the District of Columbia rejected Meta's request to intervene in the case concerning the Messenger Kids app. The FTC had previously charged Meta with deceiving parents about their children's communication options on the app and suggested revising a 2019 settlement that included a $5 billion payment by Facebook. Meta, which relies heavily on digital ads for revenue, called the FTC's charges baseless and is considering further legal actions. This legal issue adds to ongoing concerns about harmful content on Meta's platforms, including hate speech and misinformation, as well as safety measures for teenagers on Instagram.

Portfolio Pulse from Ananya Gairola

November 28, 2023 | 2:21 am

ACRHF

CURLF

GTBIF

The New York State Cannabis Control Board (CCB) has endorsed a settlement agreement that could lead to the lifting of a court injunction blocking the opening of over 400 cannabis dispensaries. The injunction stemmed from a lawsuit by service-disabled veterans and the Coalition for Access to Regulated & Safe Cannabis, alleging unfair licensing practices by the Office of Cannabis Management (OCM) and CCB. Large marijuana companies like Acreage Holdings Inc (ACRHF), Curaleaf Holdings Inc (CURLF), and Green Thumb Industries Inc (GTBIF) were involved in a similar lawsuit earlier. The settlement's details are confidential, and court approval is pending. Industry stakeholders remain cautiously optimistic about the resolution.

Portfolio Pulse from Joana Scopel

November 27, 2023 | 11:18 pm

SWTX

SpringWorks Therapeutics has received FDA approval for OGSIVEO (nirogacestat), making it the first and only approved treatment for adults with desmoid tumors. This marks a significant milestone for the company and offers a new therapeutic option for patients with this rare and often debilitating condition.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 11:05 pm

TRKA

Troika Media has received a delinquency notification from Nasdaq due to non-compliance with listing requirements. The company is at risk of being delisted if it fails to regain compliance within the given timeframe.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 10:49 pm

ARGT

MELI

The Global X MSCI Argentina ETF (ARGT) has entered a bull market, surging over 20% after Javier Milei's presidential election win in Argentina. ARGT, with MercadoLibre Inc. (MELI) as its top holding, saw a $13 million inflow. Milei's Washington meetings with U.S. officials and international organizations are crucial for Argentina's economic path, focusing on hyperinflation and economic reforms.

Portfolio Pulse from Piero Cingari

November 27, 2023 | 10:16 pm

LCW

Learn CW Investment Corp. (LCW) has received a noncompliance notification from the NYSE because it has delayed filing its Form 10-Q. The company is required to submit the form to report its quarterly financial and business performance. The delay in filing could raise concerns among investors regarding the company's operational efficiency and compliance with regulatory requirements.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 10:12 pm

SPWR

SunPower Corporation received a notification from Nasdaq due to the delayed filing of its quarterly report on Form 10-Q. The company is required to submit a plan to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 10:06 pm

SCBFY

Standard Chartered Bank (China) has begun offering digital yuan exchange services, making it the first foreign bank to join China's CBDC pilot testing. The bank is collaborating with City Bank Clearing Services to provide access to the digital yuan's interconnection platform. China's digital yuan, or e-CNY, has seen significant adoption with $253.6 billion in transactions and 120 million wallets since 2020. The pilot is active in 26 cities and provinces, and the digital yuan is expected to enhance payment experiences and international financial market integration.

Portfolio Pulse from Khyathi Dalal

November 27, 2023 | 10:00 pm

SLRN

ACELYRIN is evaluating the future development path for Izokibep, including whether to continue trials with the current CRO or switch to a new one. The decision will be based on an ongoing evaluation and a planned audit.

Portfolio Pulse from Benzinga Newsdesk

November 27, 2023 | 9:37 pm

AUDC

CGNT

EIS

IZRL

TEVA

Israel and Hamas have agreed to extend their truce by an additional two days. The extension follows a prisoner exchange and is supported by Qatar and Egypt. U.S. Secretary of State Antony Blinken acknowledged Qatar's mediation role. President Biden and UN Secretary-General Antonio Guterres expressed support for the extension to aid humanitarian efforts in Gaza. Elon Musk visited Israel and discussed the potential use of Starlink in Gaza, subject to Israeli approval. The iShares MSCI Israel ETF and ARK Israel Innovative Technology ETF saw gains, as did Israeli tech stocks AutoCodes, Cognyte Software, and Teva Pharmaceuticals.

Portfolio Pulse from Piero Cingari

November 27, 2023 | 9:35 pm