Streetbeat News

Regulatory

DIS

Walt Disney Co (NYSE:DIS) stock continues to fall, down 32% since February 9, due to ongoing legal battles initiated by Florida Gov. Ron DeSantis and economic worries following last week's Federal Reserve meeting. The stock has been in a consistent downtrend since May 10. The most recent lower high within its downtrend was formed at $83.67 and the most recent confirmed lower low was at the $81.64 mark. If the stock falls below $79.75, it will print a new three-year low.

Portfolio Pulse from Melanie Schaffer

September 26, 2023 | 7:21 pm

BEKE

Shares of KE Holdings Inc (NYSE:BEKE) are trading lower due to concerns over China's property sector, following reports that China Evergrande is unable to issue new debt due to an investigation into its subsidiary. KE Holdings, an online real estate services provider, could see reduced transaction volumes and revenues due to a slowdown in the property market. Evergrande's recent announcement of cancelling a creditor meeting and lower than expected sales have further fueled concerns.

Portfolio Pulse from Henry Khederian

September 26, 2023 | 7:19 pm

PDD

PDD Holdings Inc's shares are trading lower due to concerns over China's property sector, particularly the issues surrounding China Evergrande. The potential economic slowdown in China could decrease consumer spending, negatively impacting PDD's e-commerce platform. Additionally, disruptions in supply chains and logistics could increase operational challenges for PDD.

Portfolio Pulse from Henry Khederian

September 26, 2023 | 7:04 pm

Edwards Lifesciences Corp (NYSE:EW) is under scrutiny by the European Commission for potential market power abuse. Despite this, the company has reiterated its commitment to fair competition. Amid the investigation, Oppenheimer has upgraded Edwards Lifesciences' stock to Outperform from Perform with a price target of $90, citing an attractive risk-reward profile. The company has a significant opportunity in the Transcatheter Tricuspid Valve Replacement (TTVR) sector, with its product EVOQUE expected to obtain regulatory approvals by the end of 2024.

Portfolio Pulse from Vandana Singh

September 26, 2023 | 7:00 pm

JPM

JP Morgan Chase & Co (NYSE:JPM) has decided to halt cryptocurrency-related transactions for its U.K. clients starting Oct. 16, due to concerns over rising fraudulent activities linked to cryptocurrencies. The bank's decision aligns with the cautious stance of many U.K. banks towards cryptocurrency transactions. The Financial Conduct Authority (FCA), the U.K.'s financial regulatory body, has had to mediate dialogues between banks and cryptocurrency entities due to the banking sector's hesitancy in serving the crypto industry.

Portfolio Pulse from Murtuza Merchant

September 26, 2023 | 6:49 pm

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California has enacted the first statewide gun and ammunition tax in the U.S. Governor Gavin Newsom signed several gun-control measures, including an 11% tax on retail sales of firearms and bullets.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 6:41 pm

AMZN

New Hampshire Attorney General John M. Formella, along with the Federal Trade Commission (FTC) and 16 other state attorneys general, has sued Amazon.com, Inc. alleging that the company uses anticompetitive and unfair strategies to illegally maintain its monopoly power. The complaint accuses Amazon of preventing competitors from growing and new ones from emerging, stifling competition on price, product selection, and quality, and overcharging sellers. The lawsuit seeks a permanent injunction to prohibit Amazon from engaging in its alleged unlawful conduct and to restore competition.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 6:36 pm

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The Centers for Medicare & Medicaid Services (CMS) has projected that the average monthly plan premium for all Medicare Advantage Plans will increase from $17.86 in 2023 to $18.50 in 2024.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 6:32 pm

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The Centers for Medicare & Medicaid Services (CMS) has announced that Medicare Advantage and Medicare Prescription Drug Programs will remain stable in 2024. Additionally, Medicare Advantage Supplemental Benefit offerings will see a slight increase in 2024.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 6:30 pm

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U.S. House Speaker McCarthy has announced plans to put a continuing resolution with border provisions on the House floor before Saturday. This could potentially impact the budget and political climate.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2023 | 6:20 pm