Streetbeat News

Regulatory

EIS

SPY

U.S. Secretary of State Blinken and Israeli PM Netanyahu had to shelter in a bunker for five minutes during their meeting in Tel Aviv due to air sirens. They have since moved out and are continuing discussions at the Israeli Defense Command Center.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 5:52 pm

AMD

CSCO

INTC

QQQ

Advanced Micro Devices (AMD) stock is trading higher despite reports of the U.S. planning to prevent American chipmakers from selling semiconductors to China. AMD's CEO, Lisa SU, has stepped down from the board of directors at Cisco Systems (CSCO) to prevent conflict of interests as AMD proposes a shift in its image in the networking and server industry. AMD is preparing to become a competitive player in the server industry, posing a threat to Cisco. Citi analyst Christopher Danely flagged a lack of conviction on the buy side for semiconductor stocks. Goldman Sachs analyst Toshiya Hari expects AMD's share gains in the server market to re-accelerate in 4Q23 and 2024.

Portfolio Pulse from Anusuya Lahiri

October 16, 2023 | 5:52 pm

DWAC

SPY

The Biden campaign is launching an account on Truth Social, a social media platform owned by former President Trump. The campaign aims to meet voters where they are and combat misinformation about President Biden. The campaign's handle is expected to be @BidenHQ. Truth Social, run by former Rep. Devin Nunes, R-Calif., welcomes the move, stating it is a free, open platform.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 5:34 pm

LTCUSD

Litecoin (LTC) experienced volatility, trading higher by as much as 6% to $65.51 during Monday's session, amid false rumors of the iShares Bitcoin Spot ETF receiving approval. BlackRock denied the false information, stating that their Bitcoin ETF application is still under review. The false rumors can lead to increased trading activity and investment in Litecoin due to its perceived connection with Bitcoin.

Portfolio Pulse from Henry Khederian

October 16, 2023 | 5:22 pm

EIS

SPY

VGK

Russian President Vladimir Putin has informed Israeli Prime Minister Benjamin Netanyahu that Russia is prepared to assist in ending the regional confrontation and resolving it peacefully, according to Reuters citing Tass.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 5:11 pm

ARKK

BTCUSD

Ark Invest CEO Cathie Wood has expressed optimism about the approval of Bitcoin ETFs by the SEC. Ark Invest, known for its investments in technology stocks, has a pending spot Bitcoin ETF that it believes will be approved in the future. Wood suggested that multiple Bitcoin ETFs could be approved by the end of 2023 or early 2024, with Ark Invest being first in line.

Portfolio Pulse from Chris Katje

October 16, 2023 | 5:07 pm

CILJF

CTRYF

EGRNF

PNGAY

SIOLY

Concerns are growing over hidden debt in China's property sector, with Ping An Insurance Group's real estate subsidiary, Ping An Real Estate Co. Ltd, in focus. The company's bond has been fluctuating due to investor concerns about its ability to repay. The company's sales have been declining and there are questions about its off-balance sheet debt. The China Securities Regulatory Commission found that the subsidiary had covered up a 200 million RMB overdue debt tranche. The situation could potentially spark a broader contagion in China's financial services sector.

Portfolio Pulse from Daniel Harrison

October 16, 2023 | 5:00 pm

PARA

PARAA

President Joe Biden has pledged support for Israel and Ukraine during an interview on '60 Minutes'. He stated that the US will provide Israel with everything it needs and ruled out the necessity of sending ground troops to the country. Biden also expressed confidence that Israel will do everything in its power to avoid killing civilians when retaliating against Hamas. Regarding Ukraine, Biden said that the ongoing war between Ukraine and Russia could be a hot topic ahead of the 2024 election and that the US could help support Ukraine.

Portfolio Pulse from Chris Katje

October 16, 2023 | 4:39 pm

COIN

XRPUSD

South Korean cryptocurrency exchange Upbit has received preliminary consent from the Monetary Authority of Singapore (MAS) to provide digital payment token services in Singapore. If Upbit secures complete approval, it will join 16 entities with comprehensive digital payment token service licenses from MAS. Last month, Singapore branches of Coinbase, Ripple, and Sygnum Bank also received licenses from MAS.

Portfolio Pulse from Murtuza Merchant

October 16, 2023 | 4:17 pm

AZN

BIOVF

PFE

SNY

Healthcare providers are facing challenges in offering Pfizer's Abrysvo and Sanofi's Beyfortus, treatments for respiratory syncytial virus (RSV) in infants, due to insurance coverage issues and high costs. RSV is a significant threat to newborns, seniors, and adults with chronic conditions. The only previous preventative measure was Swedish Orphan Biovitrum's Synagis, costing about $1,000 per dose. Abrysvo and Beyfortus reduce the risk of severe disease or hospitalization by over 50%.

Portfolio Pulse from Vandana Singh

October 16, 2023 | 4:16 pm