Streetbeat News

Regulatory

TX

Ternium (TX) anticipates a sequential decrease in Q4 shipments in Argentina due to seasonality and government-imposed restrictions on the importation of inputs required for production by the company and its value chain.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:32 pm

TX

Ternium (TX) expects Q4 adjusted EBITDA to decrease compared to Q3, with lower adjusted EBITDA margin partially offset by slightly higher steel shipments. The company anticipates a sequential decrease in steel revenue per ton in Q4, reflecting lower realized prices in Mexico and Brazil. In Mexico, steel consumption is expected to remain strong, while in Brazil, shipments are expected to remain relatively stable. In Argentina, the company anticipates a sequential decrease in Q4 shipments due to seasonality and government-imposed restrictions.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:31 pm

CBRG

CBRGU

CBRGW

Chain Bridge I (NASDAQ:CBRGU, CBRG, CBRGW) has announced that it will redeem all of its outstanding Class A ordinary shares at a per-share price of approximately $10.80, effective as of the close of business on November 15, 2023. The decision comes as the company will not be able to consummate an initial business combination within the required time period. The company will cease all operations, except those required to wind up the business, and expects that the Nasdaq Stock Market will file a Form 25 with the U.S. Securities and Exchange Commission to delist its securities.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 8:01 pm

LIFW

MSP Recovery, Inc. (NASDAQ:LIFW) announced that it is now in compliance with all applicable Nasdaq listing standards, allowing its Class A common stock to continue to be listed and traded on the exchange. The company has rectified its previously disclosed bid price deficiencies. The stock has been trending higher after hitting an all-time low last week, following news that CEO John Hasan Ruiz bought 467,290 shares.

Portfolio Pulse from Ryan Gustafson

October 31, 2023 | 7:49 pm

CRSP

VRTX

A Stat News reporter has tweeted about a productive discussion at the FDA advisory committee meeting, focusing on the benefits of treatment for patients with Sickle Cell Disease (SCD) versus the theoretical risk of off-target editing. The companies mentioned are Vertex Pharmaceuticals (VRTX) and CRISPR Therapeutics (CRSP).

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 7:33 pm

AAPL

AMZN

HPQ

NOK

Nokia Corp has filed lawsuits against Amazon.com Inc and HP Inc in multiple countries for alleged unauthorized use of its multimedia patents in their streaming services and devices. The patents cover technologies such as video compression, content delivery, content recommendation, and hardware-related aspects. Nokia has previously settled a patent cross-license agreement with Apple Inc.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 7:22 pm

META

Citi analyst Ronald Josey reiterated a Buy rating on Meta Platforms, Inc (NASDAQ:META) with a price target of $425. Meta announced advertising-free subscription tiers for users in the EU, EEA, and Switzerland, effective in November. The subscription service is expected to be revenue-neutral as Meta plans to continue offering its core ad-supported service to most EU users. The subscription tiers are priced at €9.99/month on the web or €12.99/month on mobile.

Portfolio Pulse from Anusuya Lahiri

October 31, 2023 | 6:45 pm

FXI

SPY

The White House has announced that President Biden is planning to have a constructive conversation with China's President Xi in San Francisco in November.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:38 pm

BTCUSD

Bitcoin's Wikipedia page saw a surge in pageviews, reaching 13,490 on Oct. 24, the highest level since mid-2022, amid a rally in Bitcoin prices and the likely approval of a spot Bitcoin ETF. Bitcoin prices surged 9% on Oct. 24 and have gained 20% in the past two weeks. The final approval for spot bitcoin ETF is expected before Jan. 10, 2024. The Bitcoin price rally has led to an influx in cryptocurrency investment products, with total inflow of $326 million in the last week, the highest in 15 months.

Portfolio Pulse from Khyathi Dalal

October 31, 2023 | 6:37 pm

XFOR

X4 Pharmaceuticals announced that the FDA has accepted with Priority Review its U.S. New Drug Application (NDA) for Mavorixafor in WHIM syndrome. This news has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 31, 2023 | 6:23 pm