Streetbeat News

Regulatory

TCNNF

Georgia has become the first U.S. state to allow pharmacies to sell medical marijuana over the counter. Three pharmacies have received state licenses to sell low-THC medical marijuana products, including oils, tinctures, and capsules. Over 400 independent pharmacies plan to join the program, excluding chains like CVS and Walgreens. The state's two licensed cannabis producers, Botanical Sciences LLC and Trulieve Cannabis Corp., are providing the pharmacies with MMJ products.

Portfolio Pulse from Maureen Meehan

October 30, 2023 | 2:10 pm

ALV

AMZN

DIS

GOOG

HSBC

LUV

MCD

PEAK

RIVN

TRP

WDC

XPO

Southwest Airlines may face a fine due to operational disruptions last December. Healthpeak Properties and Physicians Realty Trust are merging in a $21B deal. Google can turn ANC headphones and wireless earbuds into heart rate monitors. Toyota's September sales grew due to strong demand. Rivian will start charging for its charging network. Autoliv plans to reduce its headcount in France. FDA warns against the use of certain eye drops. Nelson Peltz gains backing from Isaac Perlmutter for changes at Disney. TC Energy explores asset sales worth $10B. Amazon uses generative AI for holiday ad boost. Blackstone buys a majority stake in Care Hospitals in India. McDonald's Q3 sales grew by 14% YoY. HSBC's Q3 revenues increased by 40% YoY. Panasonic's H1 FY24 sales grew by 1% YoY. Western Digital plans to split its business. XPO's Q3 FY23 revenue grew by 1.7% YoY.

Portfolio Pulse from Vandana Singh

October 30, 2023 | 2:07 pm

LUV

Southwest Airlines Co. (NYSE:LUV) has been warned by the U.S. Department of Transportation (DoT) that it may face a fine due to significant operational disruptions in December 2022, which resulted in over 16,700 flight cancellations. The disruptions were attributed to a failure in the airline's crew scheduling software. The DoT has notified Southwest about its failure to provide adequate customer service, prompt flight status notifications, and proper refunds. Southwest has expressed its intention to cooperate fully with the DoT, which may include agreeing to a civil penalty.

Portfolio Pulse from Shivani Kumaresan

October 30, 2023 | 1:51 pm

NIO

NIO Inc's shares are trading higher after a month-long decline due to strong sales numbers from China-based EV competitors. Nio reported deliveries of 15,641 vehicles in September and 55,432 for Q3. However, Warren Buffett-backed BYD delivered 286,903 vehicles in September, dominating sales volumes among China-based competitors. The China EV market is becoming more competitive and exports could face headwinds due to rising regulatory risks in the EU.

Portfolio Pulse from Adam Eckert

October 30, 2023 | 1:43 pm

LIFW

LifeWallet (NASDAQ:LIFW) has announced that it is now in compliance with all applicable Nasdaq listing standards. The company's previously disclosed bid price deficiencies have been cured, and the scheduled hearing before the Nasdaq Listing Qualifications Hearings Panel has been cancelled. LifeWallet's Class A common stock will continue to be listed and traded on Nasdaq, subject to continued compliance with listing standards.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 1:40 pm

DWAC

Digital World Acquisition Corp. (DWAC) has filed its amended and restated Annual Report on Form 10-K with the SEC. The report includes restatements of audited consolidated financial statements for fiscal years ended December 31, 2022 and 2021, and unaudited consolidated financial statements for the quarterly periods ended March 31, June 30 and September 30, 2022. This marks a significant step in preparation for the expected S-4 filing and potential merger with Trump Media & Technology Group Corp. (TMTG).

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 1:38 pm

CAH

CVS

RADCQ

TGT

WBA

The FDA has issued a warning against the use of certain over-the-counter eye drops from brands including CVS Health Corp and Cardinal Health Inc, due to concerns of potential eye infections and vision loss. The products are distributed by CVS Health, Rite Aid Corp, Cardinal Health, and Target Corp's Up & Up brand, as well as Velocity Pharma. In response, CVS, Rite Aid, and Target are removing these products from their store shelves and online platforms.

Portfolio Pulse from Vandana Singh

October 30, 2023 | 1:34 pm

NUE

SPY

STLD

The U.S. Supreme Court has declined to hear a challenge to the Trump-era tariffs on steel imports. This decision leaves in place the 25% tariff on steel imports that was imposed in 2018.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 1:34 pm

SPY

UUP

The ongoing conflict between Israel and Hamas has led to the World Bank warning of a potential surge in oil prices. The UN Security Council is set to hold an emergency meeting to discuss the situation. Meanwhile, global stocks have started the week positively, with the SPDR S&P 500 Index (NYSE:SPY) up 0.6% and the Invesco DB USD Index Bullish Fund ETF (NYSE:UUP) down 0.2%.

Portfolio Pulse from Piero Cingari

October 30, 2023 | 1:28 pm

AAPL

INTC

NVDA

Nvidia Corp's stock is trading higher amid reports that the U.S.'s new artificial intelligence technology sanctions on China are not affecting the chip designer's short-term revenue. Analysts say China represented 20% - 25% of Nvidia's data center revenues. The stock price movement also reflects the chip designer partnering with MediaTek and utilizing the 2.5D packaging technology from CoWoS for its first processors, intensifying rivalry with Apple Inc and Intel Corp.

Portfolio Pulse from Anusuya Lahiri

October 30, 2023 | 1:23 pm