Streetbeat News

Regulatory

EH

EHang Holdings Limited (NASDAQ:EH), an autonomous aerial vehicle technology platform company, has voluntarily requested and received approval from Nasdaq to temporarily suspend trading of its American depositary shares (ADSs) in anticipation of a significant business operations announcement. The suspension will last until no later than October 13, 2023.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:15 pm

AU

AngloGold Ashanti plc has completed a corporate restructuring, changing its primary listing from the Johannesburg Stock Exchange to the New York Stock Exchange. The company now has its group headquarters in Denver. The restructuring attracted various tax payments in South Africa and Australia, totaling about $286m. The company has a robust balance sheet and will fund the tax payments from internal sources. AngloGold Ashanti qualifies as a foreign private issuer in the United States and plans to voluntarily file annual reports on Form 10-K, quarterly reports on Form 10-Q, and current reports on Form 8-K with the SEC starting from the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:07 pm

DKNG

PDYPY

The legalization of online sports betting in Florida is facing legal challenges, with a decision expected in the coming weeks. The lawsuits, filed by West Flagler Associates, argue that online sports betting outside of Seminole tribal territories may violate state and federal regulations. The outcome could impact sportsbook companies like DraftKings (DKNG) and FanDuel (PDYPY), who are backing some of the lawsuits in an effort to secure a share of the market. Depending on the rulings, Florida residents may only be able to place online wagers with Hard Rock Bet, owned by the Seminole Tribe.

Portfolio Pulse from Chris Katje

October 09, 2023 | 1:05 pm

SPY

Federal Reserve's Logan stated that the progress on inflation is encouraging but it's too early to be confident that it is headed to Fed's 2% target in a sustainable, timely way. He also noted that output and spending have been surprisingly strong and the outlooks for consumers are positive.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:02 pm

SPY

Federal Reserve's Logan stated that if the stronger economy is causing the rise in long-term rates, the Fed may need to take further action. He emphasized that high inflation is the most significant risk, but the labor market remains strong with solid wages.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:02 pm

GOVX

GeoVax has received a notice of allowance for its Marburg vaccine patent, titled 'Replication-Deficient Modified Vaccinia Ankara (MVA) Expressing Marburg Virus Glycoprotein (GP) And Matrix Protein (VP40)'. The patent application number is 17/584,231.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:01 pm

SPY

Federal Reserve's Logan suggests that if higher long-term rates are due to higher term premiums, there may be less need for the Fed to raise rates. The role of higher term premiums in higher long-term rates is clear, but the magnitude is uncertain.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:01 pm

HYPR

Hyperfine, Inc. has received FDA clearance for its updated AI-powered software, which improves image quality for all Swoop System sequences. This development could potentially enhance the company's market position.

Portfolio Pulse from Bill Haddad

October 09, 2023 | 1:01 pm

SPY

Federal Reserve official Lorie Logan stated that continued restrictive financial conditions will be necessary to control inflation. She also mentioned that the Federal Reserve must consider the financial conditions, which have tightened significantly in recent months, while setting the policy rate.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2023 | 1:00 pm

GOOG

GOOGL

Google, a subsidiary of Alphabet Inc, is under scrutiny in an ongoing antitrust trial. Witnesses have revealed that Google altered its advertising auction formula in 2017, leading to a 15% increase in prices and potentially billions in extra revenue. The company is accused of maintaining a monopoly over online search by paying significant sums to web browsers and smartphone makers to be the default search option. Google's search ad revenue, contributing to over 60% of its total income, exceeded $100 billion in 2020.

Portfolio Pulse from Anusuya Lahiri

October 09, 2023 | 12:57 pm