Streetbeat News

Regulatory

META

Meta Platforms Inc (NASDAQ:META) is appealing the European Union's Digital Markets Act (DMA) designation as a 'gatekeeper' service. Despite regulatory challenges, Meta's stock has surged 171% year to date, with a 10% increase in November alone. Following Q3 earnings, the stock rose 11%, nearing last year's high of $343. The stock closed at $332.77 on November 15.

Portfolio Pulse from Zaheer Anwari

November 16, 2023 | 5:20 pm

NVDA

TSM

Analysts from Oppenheimer and UBS have reiterated positive ratings on Nvidia Corp (NVDA), with price targets of $650 and $560 respectively, due to expected strong performance in data center and gaming segments, and an improvement in supply constraints. Taiwan Semiconductor Mfg. Co. Ltd. (TSM) is expected to increase CoWoS capacity, which should ease supply constraints for Nvidia. The U.S. government's export restrictions to China may affect Nvidia's sales, but new product announcements are expected to comply with these restrictions. Nvidia's gross margin is expected to rise, and revenue and EPS projections for Q3 and Q4 are above consensus estimates.

Portfolio Pulse from Anusuya Lahiri

November 16, 2023 | 5:07 pm

LOPE

Grand Canyon Education is appealing a $37.7M fine imposed by the U.S. Department of Education. The fine is a result of alleged violations of federal educational regulations. The company believes the fine is an example of federal government overreach.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:03 pm

SGD

Safe And Green Development Corporation (SGD) has filed a request with the U.S. SEC to withdraw their Form S-1 Registration Statement. According to the SEC filing, no shares of common stock have been or will be issued or sold under the withdrawn registration statement.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 4:22 pm

SPY

Rep. George Santos has decided not to run for reelection after a negative report from the House Ethics Committee, as reported by Semafor Political Reporter.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:57 pm

EIS

GLD

KSA

The conflict between Israel and Hamas has reached day 42 with significant developments in hostage negotiations, military operations, and international reactions. Hamas has agreed in principle to release hostages, while President Biden has accused Hamas of war crimes. IDF operations continue at Shifa Hospital, and Israel has taken control of Gaza's harbor. International condemnation of Israel's actions has come from Saudi Arabia and South Africa. The Israeli shekel and stock market rose, as did Saudi stocks, while U.S. Treasury yields fell. The iShares MSCI Israel ETF (EIS) and iShares MSCI Saudi Arabia ETF (KSA) both saw gains, while the SPDR Gold Trust (GLD) rose and Bitcoin (BTC) fell.

Portfolio Pulse from Piero Cingari

November 16, 2023 | 3:43 pm

EIS

SPY

USO

The White House's John Kirby has stated that the U.S. believes Hamas is using the Al Shifa medical facility as a command center and possibly as a storage facility for military purposes, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:40 pm

SPY

House Ethics Committee Chairman Rep. Michael Guest plans to file a resolution to expel Rep. George Santos from Congress after an ethics report accused Santos of using campaign funds for personal purposes and engaging in fraudulent conduct. The vote is expected after the Thanksgiving break on Nov. 28.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:39 pm

BNGO

INBX

LADX

RILY

The Bear Cave Newsletter has issued a report on Axos Financial (NYSE:AX), raising concerns about the company's culture, loan portfolio, and crypto ventures. Axos, previously known as Bank of Internet, has been criticized by short-sellers for various risks. The report details Axos's history of 'exception-based lending', its ties to high-interest small business lenders, and its relationship with B. Riley (NASDAQ:RILY), whose CEO recently sold stock to meet a margin call. Axos's auditing history is also questioned, with its current and past auditors having limited experience with public companies. The report suggests that Axos's business model may carry risks similar to those that led to the failure of NetBank in 2007.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:34 pm

FXI

SPY

White House spokesperson John Kirby stated that President Biden felt very positive about his discussions with China's President Xi Jinping. The details of the discussions were not disclosed in the article.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:28 pm