Streetbeat News

Regulatory

MSOS

The FDA has called for new authorities over hemp-derived cannabinoid products at the Cannabis Capital Conference. The news was reported by Benzinga, a financial news outlet.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 2:16 pm

UPST

Bleecker Street Research has issued a short report on Upstart Holdings (UPST), highlighting several issues with the company's business model and financial health. The report criticizes Upstart's reliance on artificial intelligence for credit decisioning, stating that the results have been poor. It also notes that Upstart's largest loan origination partners are facing regulatory issues, and that loans are piling up on Upstart's balance sheet. The report suggests that Upstart's largest source of revenue could be shut down by the FDIC within the next year.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 2:04 pm

TLT

The US economy grew at a 2.1% annualized rate in Q2 2023, in line with the second estimate but slightly lower than the 2.2% growth in Q1. Jobless claims were lower than expected, signaling a tight job market. The iShares 20+ Year Treasury Bond ETF (TLT) opened weaker, heading for its worst month since April 2022. Traders are not expecting another interest rate hike by the Federal Reserve this year.

Portfolio Pulse from Piero Cingari

September 28, 2023 | 2:03 pm

SPY

The USA Pending Home Sales Index for August was reported at 71.8, lower than the prior figure of 77.3.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 2:00 pm

SPY

Federal Reserve's Goolsbee has stated that if long rates continue to increase, the Fed will have to consider this as a form of tightening, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:58 pm

SPY

Federal Reserve's Goolsbee has expressed that he is still trying to understand why long-end interest rates are increasing.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:56 pm

CLF

X

Cleveland-Cliffs has entered into a standstill agreement for two months, which is shorter than the six months U.S. Steel is seeking, according to a source cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:53 pm

GRWG

TLLTF

Cannabis industry leaders convened at the Benzinga Cannabis Capital Conference to discuss the challenges and opportunities of the sector amidst evolving regulations. They emphasized the importance of adaptability, strategic legal guidance, and long-term vision for success in the industry. TILT Holdings CEO Tim Conder and GrowGeneration CEO Darren Lampert were among the speakers.

Portfolio Pulse from Nicolás Jose Rodriguez

September 28, 2023 | 1:50 pm

PG

SPY

Procter & Gamble is recalling approximately 8,600 units of Zevo Fly, Gnat and Fruit Fly Insect Spray due to injury and laceration hazards, as announced by the U.S. Consumer Product Safety Commission.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:49 pm

EVEX

EWY

Eve Air Mobility (NYSE:EVEX) and South Korea's Moviation have signed a Letter of Intent to purchase Eve's Urban ATM solution, a software solution for Urban Air Mobility (UAM) traffic management. The agreement comes as Eve's Urban ATM concept has been adopted as part of Korea's K-UAM Grand Challenge, a program to support the commercialization of UAM in 2025. Eve is also collaborating with Atech, Embraer's Air Traffic Control technology and system integrator company, for the development of the Urban ATM software solution.

Portfolio Pulse from Benzinga Newsdesk

September 28, 2023 | 1:44 pm