Streetbeat News

Regulatory

MVLA

Movella has received a notification from Nasdaq due to a delay in filing its Form 10-Q. The company is required to submit a plan to regain compliance with Nasdaq's listing rules within 60 calendar days.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 10:17 pm

HSIC

Henry Schein, Inc. received a deficiency notice from Nasdaq due to its failure to timely file its quarterly report. The company is working to resolve the issue and regain compliance with Nasdaq's listing requirements.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 10:16 pm

COIN

BitGo CEO Mike Belshe expressed a cautious outlook for Bitcoin ETF approvals, anticipating further rejections due to regulatory concerns. He cited the FTX collapse as a factor causing institutional hesitation and emphasized the need for a clear separation between exchange and custodian roles to meet regulatory standards.

Portfolio Pulse from Murtuza Merchant

November 16, 2023 | 10:09 pm

INFN

Infinera Corporation has received a notification from Nasdaq regarding a delinquency due to the company's failure to meet the deadline for filing its financial statements. This notice is a standard procedure when a listed company does not comply with Nasdaq's filing requirements. Infinera is expected to submit a plan to regain compliance and avoid potential delisting. The company's stock, traded under the symbol INFN, may face volatility as investors react to the news of the filing delay and the risk of non-compliance with Nasdaq regulations.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 10:01 pm

AMAT

Applied Materials Inc (NASDAQ:AMAT) reported Q4 revenue of $6.72 billion, beating estimates of $6.52 billion, and EPS of $2.12, surpassing the $2 estimate. Despite record revenue, earnings, and cash flow for fiscal 2023, shares fell 6.33% after hours due to a Reuters report about a U.S. criminal investigation into potential export restriction evasion to China's SMIC. The company forecasts Q1 revenue of $6.47 billion, above estimates of $5.86 billion, and adjusted EPS between $1.72 and $2.08, compared to the $1.69 estimate.

Portfolio Pulse from Adam Eckert

November 16, 2023 | 9:17 pm

NCAC

Psyence Group Inc. and Newcourt Acquisition Corp (NASDAQ:NCAC) have announced the SEC's effectiveness of a Form F-4 registration statement for a new business combination. This move brings Psyence Group closer to listing on a U.S. national security exchange and is part of their strategy to launch a Phase 2b clinical trial for nature-derived psilocybin in palliative care. The business combination, valued at $50 million in pre-money equity, will result in Psyence contributing its therapeutics division to the new public company, Psyence Biomedical Ltd., which will trade under the Nasdaq ticker 'PBM'. Psyence Group has also granted stock options to eligible participants.

Portfolio Pulse from Lara Goldstein

November 16, 2023 | 9:07 pm

AMAT

Applied Materials is under investigation for allegedly shipping equipment to China's SMIC via South Korea without the necessary license, according to Reuters. This could potentially be a violation of export control regulations, which may have serious implications for the company.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 9:01 pm

AMAT

Applied Materials, a chip equipment maker, is under a U.S. criminal investigation for potentially evading export restrictions to China's SMIC. The investigation could have significant implications for the company's operations and its ability to do business with one of its customers.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 9:01 pm

HSBC

Ripple's Head of Payments, Brendan Berry, discussed the growing use of XRP for international payments and the company's recent developments at the Future Of Digital Assets event. HSBC Holdings plc partnered with Metaco, a Ripple Labs-owned firm, to offer digital asset custody services. Ripple is also part of the BIS's Payments Interoperability and Extension task force. Berry highlighted new Ripple capabilities for cross-border payments that don't require crypto expertise and emphasized blockchain's potential to solve payment problems. Despite a challenging year, including an SEC lawsuit, Ripple is looking towards a 'second wave' of crypto focused on utility.

Portfolio Pulse from Anthony Noto

November 16, 2023 | 8:06 pm

BNBUSD

Gulf Energy Development Public Company Ltd. has announced its joint venture with Binance, Gulf Binance Company Ltd., has received approval from Thailand's SEC to start its digital asset business. Gulf Binance will launch a digital asset platform offering exchange and broker services for cryptocurrencies and digital tokens, with operations expected to begin by invitation only and open to the public in early 2024. This move is seen as a significant development in Thailand's blockchain and digital asset landscape, combining local expertise with Binance's global experience.

Portfolio Pulse from Murtuza Merchant

November 16, 2023 | 6:45 pm