Streetbeat News

Regulatory

LLY

PNT

Eli Lilly and Company (LLY) has received consent from the Nuclear Regulatory Commission (NRC) for its proposed acquisition of POINT Biopharma (PNT). This regulatory consent is a significant step towards completing the acquisition process.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 9:35 pm

VWE

VWE has announced the withdrawal of its fiscal 2024 guidance due to a review of the business being conducted by Mr. Kaufman.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 9:19 pm

EWY

SPY

North Korea has tested a new solid-fuel engine for an intermediate ballistic missile, according to a report by Reuters citing KCNA. This development may raise geopolitical tensions in the region.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 9:16 pm

CCL

Carnival Corporation (NYSE:CCL) stock rose on Tuesday due to overall market strength following the release of softer-than-expected October CPI data, which has reduced concerns about further Fed rate hikes. The travel and leisure sector, including Carnival, may benefit from the upcoming holiday travel season. The U.S. annual CPI inflation rate decreased from 3.7% in September to 3.2% in October, which could lead to less aggressive interest rate hikes by the Federal Reserve, potentially easing borrowing costs for companies like Carnival and boosting consumer spending on travel and leisure services.

Portfolio Pulse from Ryan Gustafson

November 14, 2023 | 9:14 pm

MAQC

Maquia Capital Acquisition Corporation (NASDAQ:MAQC), a SPAC, has filed a registration statement with the SEC for a proposed business combination with Immersed Inc., a provider of enterprise AI productivity solutions. The combined entity will be named 'Immersed Inc.' and will list on Nasdaq under the ticker 'AIMR'. Immersed has over 730,000 unique users and users spent 20 million minutes on its application in Q3 2023. The deal sets Immersed's pre-money enterprise value at $150 million and is expected to close in the first half of 2024, subject to approvals.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 9:03 pm

BTCUSD

ETHUSD

Keith Grossman, at the Benzinga Fintech Awards, expressed optimism about the future of cryptocurrency regulation, emphasizing the need for responsible regulation, cleaning up the space, and ensuring consumer protection and safety.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 8:56 pm

ADV

AMCX

ATUS

ROKU

TTD

Shares of companies in the communication, media, and entertainment sectors are up due to positive market sentiment following October's softer-than-expected inflation data. This data suggests there may be less need for aggressive interest rate hikes by the Federal Reserve.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 8:54 pm

BAC

WFC

Bank of America Corp (BAC) and Wells Fargo & Co (WFC) shares are trading higher as October CPI data indicated softer-than-expected inflation, leading to overall market strength. The lower inflation rate of 3.2% suggests a potential for interest rate cuts, which is favorable for banks as it can reduce borrowing costs and encourage lending, thereby boosting profitability. BAC and WFC benefit from this environment, as reflected in their share price increase.

Portfolio Pulse from Henry Khederian

November 14, 2023 | 8:45 pm

BTCUSD

Caitlin Long, CEO of Custodia Bank, discussed the challenges faced by crypto-native banks at Benzinga's Future of Digital Assets event. She highlighted regulatory issues, including the Federal Reserve's guidelines that undermine state authority and discrimination against banks in six U.S. states. Long also mentioned the U.K.'s stablecoin regulation as a model for the Fed, requiring banks to hold reserves at the central bank. Custodia Bank launched a new Bitcoin custody product in October, offering segregated accounts. Long had previously warned regulators about potential bank runs at Silvergate and Signature due to the fast settlement of digital asset transactions.

Portfolio Pulse from Khyathi Dalal

November 14, 2023 | 8:32 pm