Streetbeat News

Regulatory

BTC-USD

The SEC reported a year of exceptional enforcement productivity, particularly in the cryptocurrency and digital assets space, with 784 enforcement actions and $5 billion in financial penalties. Notably, $1 billion will be returned to investors. High-profile cases included charges against FTX's Samuel Bankman-Fried and Terraform Labs' Do Kwon. Kraken and Nexo settled with the SEC, paying $30 million and $22.5 million, respectively. Kim Kardashian also settled for $1.26 million over undisclosed crypto promotions. BTC's price was down 1.70% at the time of reporting.

Portfolio Pulse from Mehab Qureshi

November 15, 2023 | 6:55 am

FXI

China's Fixed Asset Investment (YoY) for October was reported at 2.9%, which is lower than the estimated 3.1% and equal to the prior figure of 3.1%.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:52 am

BBJP

DXJ

EWJ

Japan's preliminary GDP for Q3 contracted by 0.5%, which was worse than the estimated 0.1% contraction and a significant drop from the prior 1.1% growth.

Portfolio Pulse from Benzinga Newsdesk

November 15, 2023 | 5:49 am

JPM

JPMorgan Chase & Co. CEO Jamie Dimon, speaking from Mexico City, expressed concerns about persistent inflation despite recent positive indicators. He warned against premature reactions to short-term figures and discussed the Federal Reserve's need to manage inflation effectively. Dimon also mentioned potential economic challenges such as quantitative tightening and geopolitical tensions. Additionally, he highlighted investment opportunities in Mexico and previously advised clients to prepare for 7% interest rates.

Portfolio Pulse from Benzinga Neuro

November 15, 2023 | 4:32 am

GOOGL

Alphabet Inc.'s CEO Sundar Pichai admitted to inadvertently deleting internal chats, which is under scrutiny in a lawsuit by Epic Games alleging Google Play Store's monopolistic policies. Pichai testified that he didn't disable a setting that wiped chats after a day and sometimes labeled documents as 'privileged'. Epic Games sued Google in 2020 after 'Fortnite' was removed from the app store for bypassing Google's payment systems. The outcome of the lawsuit could significantly impact the app store industry, where Google and Apple have exclusive control and receive about 30% of in-app purchases.

Portfolio Pulse from Benzinga Neuro

November 15, 2023 | 2:23 am

AAPL

iFixit and PIRG have petitioned the FTC for nationwide right-to-repair regulations, targeting electronics manufacturers' restrictive practices. The petition calls for easier component replacement and opposes manufacturers' requirements for repair shops to disclose customer information. Apple Inc. (AAPL) is mentioned as using the 'parts pairing loophole' to restrict repairs to its own manufactured parts. The FTC's rulemaking process is lengthy and has not yet addressed the petition. The right-to-repair movement has various opponents, including a Scientology church-owned entity, Author Services, opposing software lock workarounds.

Portfolio Pulse from Benzinga Neuro

November 15, 2023 | 1:17 am

SPY

The U.S. House of Representatives has passed a funding bill to prevent a government shutdown. This move ensures that the government will remain funded and operational. No specific US-listed companies or ETFs are directly mentioned in the article, except for a potential indirect reference to SPY, which tracks a broad range of U.S. stocks and may be impacted by overall market sentiment.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:55 pm

IRON

Disc Medicine has been granted a US patent for methods of treating erythropoietic protoporphyrias using Bitopertin. This development could potentially enhance the company's intellectual property portfolio and provide a competitive edge in the treatment of this condition.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:53 pm

AAPL

MSFT

NKE

NVDA

QCOM

SBUX

TSLA

XOM

The Asia-Pacific Economic Cooperation summit in San Francisco features a key meeting between U.S. President Joe Biden and Chinese President Xi Jinping, aiming to improve U.S.-China relations. Business leaders from major U.S. companies, including Citigroup, Exxon Mobil, Microsoft, Tesla, and others, seek to establish better commercial ties with China amid recent trade tensions and sanctions. Companies like Tesla, Apple, Ford, Starbucks, Nike, Qualcomm, and NVIDIA, which have significant exposure to the Chinese market, are sensitive to these developments.

Portfolio Pulse from Natan Ponieman

November 14, 2023 | 10:37 pm

Dominion Energy Virginia, along with the State Corporation Commission Staff, Office of the Attorney General, and other parties, have filed a comprehensive settlement regarding the biennial rate case. This settlement is likely to impact the regulatory and financial aspects of Dominion Energy's operations within Virginia.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 10:29 pm