Streetbeat News

Regulatory

RCM

R1 RCM Inc. (NASDAQ:RCM) received a notice from Nasdaq due to the delay in filing its Q3 report, resulting from the need to restate certain financial statements. The company has 60 days to submit a compliance plan to Nasdaq to maintain its listing, with a possible extension of up to 180 days. R1 RCM intends to file the overdue report as soon as practicable.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 9:01 pm

ADBE

VGK

The European Commission has issued a statement of objections to Adobe Inc.'s proposed $20 billion acquisition of Figma Inc., citing concerns that the merger could harm competition in the market for interactive product design tools. This development could potentially derail the deal unless Adobe addresses the EU's competition concerns.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 8:58 pm

AMZN

GOOGL

NVDA

Fortune 500 companies are increasingly embracing cryptocurrency and blockchain initiatives, with a survey reporting 83% of executives planning or having such projects. Google and Amazon are forming dedicated teams for Web3, with Google offering technical solutions for Ethereum developers and Amazon developing a managed blockchain service. NVIDIA, however, faces SEC fines for not disclosing crypto mining revenues and expresses skepticism about the utility of cryptocurrencies. Citigroup has launched Citi Token Services, a blockchain solution for institutional clients, which is already being used by Maersk for vessel transit fee payments.

Portfolio Pulse from Stjepan Kalinic

November 17, 2023 | 8:28 pm

AMAT

CHPT

DIA

EXPE

GPS

IWM

OEF

QQQ

ROST

SPY

TLT

VNQ

XLC

XLE

XLV

XRT

Wall Street saw a quiet session with major averages near parity, but small caps and oil stood out with gains. The Russell 2000 and crude oil prices rose significantly, while large-cap stocks remained flat. The dollar weakened, and Treasury yields flattened. Sector-wise, energy stocks rallied, while health care and communication services lagged. Retail stocks surged, and REITs had a softer performance. Housing starts and building permits data were positive. Gap, Ross Stores, and Expedia saw stock increases, while Applied Materials faced pressure due to a potential criminal investigation. ChargePoint Holdings plunged after a preannouncement. Global markets and commodities also saw varied movements.

Portfolio Pulse from Piero Cingari

November 17, 2023 | 7:38 pm

AAPL

Apple Inc. has decided to pause all advertising on the social network X, owned by Elon Musk, due to Musk's endorsement of antisemitic conspiracy theories and Apple ads being placed next to far-right content. This decision aligns with actions taken by IBM and calls from Jewish rabbis and activists for companies to stop advertising on X. Media Matters for America reported that ads from Apple, IBM, Amazon, and Oracle were shown alongside far-right posts. X's CEO Linda Yaccarino emphasized the company's stance against antisemitism and discrimination, and an X executive stated that accounts identified by Media Matters will no longer be monetizable and the highlighted posts will be labeled as 'Sensitive Media.'

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 7:37 pm

FXI

SPY

President Biden is hosting the APEC Leaders Retreat, an event that can be watched live on YouTube. The retreat may discuss economic policies affecting the Asia-Pacific region and potentially the global economy.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 7:32 pm

IBM

TSLA

Elon Musk's reply to an antisemitic post on Twitter has sparked backlash, drawing criticism from investors, advertisers, and the White House. IBM paused its Twitter advertising, which could impact Tesla's brand and share price. Tesla investor Ross Gerber and Citron Research expressed concerns over Musk's behavior affecting Tesla negatively. The EU is also targeting Twitter over misinformation, with Musk considering removing the platform from Europe.

Portfolio Pulse from Chris Katje

November 17, 2023 | 7:18 pm

AZN

SNY

The CDC has released over 77,000 additional doses of Beyfortus, an RSV drug developed by Sanofi and AstraZeneca, due to surging demand. Beyfortus was FDA-approved in July for preventing RSV in newborns and infants. The CDC and FDA are working to ensure availability for the rest of the year and early 2024. RSV cases have notably increased, with significant hospitalizations among children under five. Shares of AstraZeneca and Sanofi rose by 0.67% on the news.

Portfolio Pulse from Vandana Singh

November 17, 2023 | 6:47 pm

BTCUSD

ETHUSD

Former FTX US president Brett Harrison discussed the potential approval of Bitcoin ETFs and the impact on Bitcoin's price at a private roundtable. He expressed dissatisfaction with the lack of crypto regulations in the US and compared it to other countries that are further along. Harrison, now CEO of Architect, a financial technologies company, also spoke on the importance of both self-custody and third-party custody in the crypto space.

Portfolio Pulse from Chris Katje

November 17, 2023 | 6:45 pm

AMAT

Applied Materials, Inc. (NASDAQ:AMAT) stock is falling due to a U.S. Department of Justice criminal investigation into potential evasion of export restrictions to China's SMIC. Despite reporting better-than-expected Q4 earnings of $2.12 per share and revenue of $6.72 billion, the Reuters report on the investigation has overshadowed these financial results. The stock has seen more than double its 100-day average trading volume as a result of the news.

Portfolio Pulse from Erica Kollmann

November 17, 2023 | 6:34 pm