Streetbeat News

Regulatory

BBJP

DXJ

EWJ

Japan's National Consumer Price Index (MoM) has increased to 0.3% from the previous 0.2%.

Portfolio Pulse from Benzinga Newsdesk

October 20, 2023 | 4:53 am

BTCUSD

TSLA

Bitcoin (BTC) surged to $29,000 following Federal Reserve Chair Jerome Powell's acknowledgment of persistent inflation and the need for lower economic growth. Over $20 million worth of BTC shorts were liquidated in the last 24 hours. JPMorgan anticipates Bitcoin ETF approvals within the next few months. Morgan Stanley's report suggests the potential end of the 'crypto winter' bear market. Tesla's Q3 financial statement revealed it continues to hold Bitcoin, valued at $184 million.

Portfolio Pulse from Mehab Qureshi

October 20, 2023 | 4:45 am

COIN

XRPUSD

The U.S. Securities and Exchange Commission (SEC) has asked the judge to dismiss its lawsuit against Ripple's key executives, Christian Larsen and Bradley Garlinghouse. The lawsuit was centered around allegations that Larsen and Garlinghouse aided Ripple's violations of the Securities Act of 1933 with Ripple's 'Institutional Sales' of XRP. The SEC and Ripple will deliberate on a potential briefing schedule concerning the appropriate remedies against Ripple for its alleged Section 5 violations tied to its Institutional Sales of XRP. The SEC had also taken legal action against Binance and Coinbase Global Inc.

Portfolio Pulse from Murtuza Merchant

October 19, 2023 | 9:56 pm

F

GM

STLA

TSLA

The United Auto Workers (UAW) union is in discussions with General Motors, Ford Motor, and Stellantis over wage and union representation issues at upcoming electric vehicle battery factories. The dispute is influenced by Tesla and its Chinese counterparts. UAW President Shawn Fain is advocating for a rise in wages at their respective joint-venture battery factories and for UAW to unionize future battery plant employees. Fain is also advocating for a bigger portion of the expected U.S. government subsidies for battery cell manufacturing. Ford Motor announced another round of layoffs in Michigan, affecting an additional 150 workers, due to the ongoing strike led by the UAW.

Portfolio Pulse from Piero Cingari

October 19, 2023 | 9:28 pm

LLY

Pharmaceutical company Lilly has filed a complaint with the U.S. International Trade Commission against companies importing, selling, or distributing what they claim is tirzepatide, the active ingredient in Mounjaro®. Testing revealed that at least one company was selling sugar alcohol instead. Lilly aims to prevent these companies from potentially endangering patient health.

Portfolio Pulse from Charles Gross

October 19, 2023 | 8:58 pm

BTCUSD

ETHUSD

XRPUSD

The Securities and Exchange Commission (SEC) is dropping aiding and abetting claims against Ripple executives. The news may have implications for the ongoing legal battle between the SEC and Ripple.

Portfolio Pulse from Charles Gross

October 19, 2023 | 8:49 pm

NLS

Nautilus has announced plans to change its corporate name to Bowflex effective from November 1. The company will also change its ticker from 'NLS' to 'BFX', according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:42 pm

CURO

CURO Group Holdings Corp. (NYSE:CURO) has received a notice from the New York Stock Exchange (NYSE) stating that it is no longer in compliance with the NYSE's continued listing standards. This is due to the company's average global market capitalization over a 30 trading-day period being less than $50 million and its stockholders' equity being less than $50 million. CURO has 45 days to submit a plan to the NYSE detailing how it will regain compliance within 18 months. If the plan is not accepted, the NYSE will initiate delisting proceedings.

Portfolio Pulse from Happy Mohamed

October 19, 2023 | 8:33 pm

SPY

USO

The US government is planning to purchase 6 million barrels of oil for its reserve by January 2023, according to Reuters. This move could potentially impact the oil market and related ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 19, 2023 | 8:30 pm