Streetbeat News

Regulatory

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BMW CFO, Walter Mertl, has expressed concern over the European Union's investigation into subsidies for EVs manufactured in China, warning that it could trigger retaliatory actions from Beijing. This could potentially affect BMW's sales in China and its exports to Europe. Despite this, Mertl remains optimistic about BMW's Q3 results and confirmed a surge in EV sales. However, he acknowledged ongoing supply chain issues.

Portfolio Pulse from Shivani Kumaresan

October 06, 2023 | 3:33 pm

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Benzinga's Future of Digital Assets conference is set to take place on Nov. 14 in New York. The event will feature discussions on the future of cryptocurrencies, the value of crypto and blockchain, crypto compliance and regulation, and the impact of blockchain beyond finance. Speakers include representatives from Franklin Templeton Digital Assets, Bakkt, TradeStation Group Inc., Crypto Council for Innovation, Chamber of Digital Commerce, Aventus, Heathrow Airport, Vodafone, Algorand Foundation, Truist Ventures, Ripple, Google Cloud, Grayscale Investments, Public, and Kartoon Studios.

Portfolio Pulse from Murtuza Merchant

October 06, 2023 | 3:31 pm

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The U.S. has added 49 entities, including 42 Chinese entities, to its export restriction list for providing support to Russia's military, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 3:24 pm

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Benzinga's Stock Whisper Index has highlighted five stocks that are currently under the radar but warrant attention. These include Maison Solutions, which recently went public and saw investor interest; Nuvalent Inc, which saw its shares soar after announcing preliminary Phase 1 data for one of its drugs; American Airlines Group, which could be impacted by a potential federal shutdown; Rivian Automotive, which saw its shares drop after announcing plans to offer $1.5 billion in senior notes; and A10 Networks, which saw its shares drop after reporting lower than expected preliminary third-quarter financial results.

Portfolio Pulse from Chris Katje

October 06, 2023 | 3:05 pm

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Mexican President has stated that he does not believe new sections of the wall between Mexico and the U.S. will be built, and that the U.S. government does not want to continue the project.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 2:17 pm

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Snap Inc. shares are trading lower after the U.K.'s Information Commissioner's Office (ICO) issued a preliminary enforcement notice to the company due to concerns regarding privacy risks associated with its My AI chatbot.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 2:17 pm

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Mexican President has communicated to U.S. officials that the new wall construction plan is not the solution to the migration problem.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 2:16 pm

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The US job market report released by the Bureau of Labor Statistics showed a surge in non-farm payrolls to 336,000 in September, significantly surpassing expectations. This strong employment growth signals the resilience of the US labor market, which could lead the Federal Reserve to maintain higher interest rates. Market reactions included a surge in the yield on 30-year Treasury notes to 5%, a strengthening of the US dollar, and a decline in stocks due to concerns about additional Federal Reserve interest rate hikes. The SPDR S&P 500 Trust (SPY), Invesco QQQ Trust (QQQ), Tesla Inc. (TSLA), and Utilities Select Sector SPDR Fund (XLU) all experienced declines.

Portfolio Pulse from Piero Cingari

October 06, 2023 | 2:12 pm

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The article discusses various regulatory, financial, and operational updates from multiple companies. Key points include potential delays in the PGA Tour and LIV Golf merger due to regulatory concerns, Snap Inc facing UK regulatory hurdles over privacy concerns, Philips' ventilator device recall facing FDA's discontent, Micron's $15B investment in a new Idaho facility, Novo Nordisk's weight loss drugs posing serious stomach risks, Shell revising its Q3 FY23 operational outlook, MGM Resorts expecting a $100M blow from a recent cybersecurity breach, GSK cutting stake in Haleon, TSMC's earnings fueled by AI demand, Netflix's growth issues in India, Uber facing legal hurdles in EU, ConAgra considering a makeover in portion sizes amid diet drug wave, PayPal facing a class-action suit accused of forcing higher price, Nvidia, Intel, Qualcomm challenging Biden's China restrictions, and Microsoft nearing the completion of Activision Blizzard acquisition.

Portfolio Pulse from Vandana Singh

October 06, 2023 | 2:05 pm

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Major indexes are down due to a rise in Treasury yields. A strong September jobs report could exacerbate fears of the Federal Reserve raising rates to combat inflation.

Portfolio Pulse from Bill Haddad

October 06, 2023 | 2:04 pm