Streetbeat News

Regulatory

SENEA

SENEB

Seneca Foods Corporation has initiated a voluntary recall of mislabeled Hy-Vee Turkey Gravy, which actually contains beef gravy and an undeclared soy allergen. The recall is limited to 12 oz glass jars with specific lot codes and affects only Hy-Vee sold products. No consumer illnesses have been reported.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 11:13 pm

COIN

Coinbase CEO Brian Armstrong responded to Binance co-founder Changpeng Zhao's resignation, viewing it as a chance for a new industry chapter. Armstrong highlighted Coinbase's commitment to compliance since 2012. Zhao resigned as part of a plea deal with the DOJ, where Binance agreed to a $1.8 billion fine and a $2.5 billion forfeiture. Armstrong noted the challenges of compliance but believes it was the right decision. Coinbase's Chief Legal Officer, Paul Grewal, criticized the U.S. government's enforcement-only approach to crypto regulation, calling for legislation to protect consumers and promote a responsible marketplace.

Portfolio Pulse from Murtuza Merchant

November 21, 2023 | 10:36 pm

NVDA

During Nvidia's conference call, the CFO stated that they do not anticipate regulation compliant solutions to contribute materially or meaningfully to the company's revenue in Q4.

Portfolio Pulse from Charles Gross

November 21, 2023 | 10:31 pm

SOBR

SOBRsafe has received a Nasdaq deficiency letter due to its stock price not meeting the minimum bid price requirement. The company has 180 days to maintain a closing bid price of at least $1.00 for 10 consecutive business days. SOBRsafe has stated it is not considering a reverse stock split at this time, as it has sufficient cash on hand and increasing sales activity.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 10:21 pm

EIS

Israel is close to finalizing a deal with Hamas for the release of 50 hostages in exchange for a 4-day ceasefire and the release of about 140 Palestinian prisoners. The deal has the support of the IDF, Shin Bet, and Mossad, and excludes prisoners convicted of murder. The ceasefire includes a halt to Israeli UAV activities in Gaza for six hours daily. The deal's implementation awaits cabinet approval and potential High Court appeals. Netanyahu insists on continued military operations post-deal, while Biden expresses cautious optimism. Israeli stocks, including the iShares MSCI Israel ETF (EIS), saw a slight uptick following the news.

Portfolio Pulse from Piero Cingari

November 21, 2023 | 10:20 pm

FXI

NVDA

SPY

Nvidia's CFO has announced during a conference call that the company is collaborating with certain customers in China and the Middle East to obtain licenses from the U.S. government. This move is likely in response to regulatory requirements for exporting technology to these regions.

Portfolio Pulse from Charles Gross

November 21, 2023 | 10:19 pm

BNBUSD

Binance, the world's largest crypto exchange, and its CEO Changpeng Zhao have admitted guilt to federal charges, resulting in a $4.3 billion settlement with the U.S. Justice Department. The charges include violations of the Bank Secrecy Act, unlicensed money transmitting, and the International Emergency Economic Powers Act. Zhao has resigned as CEO following the admission of failing to maintain an effective anti-money laundering program. The settlement is one of the largest corporate penalties in U.S. history. Binance is now required to appoint an independent compliance monitor for three years and enhance its compliance programs.

Portfolio Pulse from Murtuza Merchant

November 21, 2023 | 10:16 pm

NWPX

Northwest Pipe Company has filed an S-3 form with the SEC for a mixed shelf offering, allowing the company to issue various types of securities up to a total of $150 million. This move could potentially dilute current shareholders but also provides the company with flexible financing options for future growth, acquisitions, or debt management.

Portfolio Pulse from Charles Gross

November 21, 2023 | 9:53 pm

NVDA

Nvidia has expressed concerns in its 10-Q filing that its competitive position has been and may continue to be harmed over the long term due to changes in the U.S. government's export controls.

Portfolio Pulse from Charles Gross

November 21, 2023 | 9:50 pm

COIN

Coinbase CEO Brian Armstrong discussed on CNBC the necessity for the cryptocurrency industry to establish clear regulatory frameworks. He emphasized the importance of understanding how existing rules can be applied to the industry to ensure regulatory clarity.

Portfolio Pulse from Charles Gross

November 21, 2023 | 9:40 pm