Streetbeat News

Regulatory

LFLY

Leafly, an online cannabis information resource and marketplace, along with Stage One Dispensary and an individual consumer, have filed a legal challenge against certain regulations of the Adult Use Regulations in New York. The court has blocked the enforcement of these regulations against Leafly and fully operational licensed cannabis dispensaries in the state. Leafly is the only third-party platform allowed to continue offering paid advertising services, display retailer product pricing, and transmit orders to licensed cannabis retailers in New York.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:31 pm

WBA

Walgreens Boots Alliance Inc (NASDAQ:WBA) is facing a proposed class action lawsuit in Florida federal court for allegedly mislabeling eye drops, misleading consumers about their safety and effectiveness. The lawsuit follows FDA warnings to Walgreens and other companies about the sale and marketing of risky eye care products. The FDA has demanded a rectification plan within 15 days. WBA shares are down 0.02% at $21.45.

Portfolio Pulse from Vandana Singh

September 22, 2023 | 2:28 pm

FAMI

Farmmi, Inc. (NASDAQ:FAMI) announced that its shareholders have approved a one-for-eight share consolidation. The move aims to regain compliance with Nasdaq Marketplace Rule 5550(a)(2) and maintain its Nasdaq listing. The consolidation will reduce the number of ordinary shares from 47,470,672 to approximately 5,933,834. The consolidation will be effective from September 25, 2023.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:23 pm

XPEV

XPeng Inc. (NYSE:XPEV) shares are trading higher due to renewed interest in Chinese stocks amid hopes for improving growth. This comes as Chinese regulators loosen restrictions on foreign capital movement to attract foreign investors and aid economic recovery. Despite the rise, XPEV's stock is still down 8% over the last five days.

Portfolio Pulse from Erica Kollmann

September 22, 2023 | 2:20 pm

FEAM

5E Advanced Materials announced that it has received authorization from the Environmental Protection Agency to conduct Step-Rate Testing under its existing permit. This news has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:20 pm

NTES

Shares of NetEase Inc (NASDAQ:NTES) are trading higher by 6.3% amid renewed hopes of economic growth in China. This is due to China's implementation of targeted stimulus measures aimed at revitalizing the sluggish real estate sector. The measures are seen as favorable for companies operating in the real estate and related sectors, such as NetEase.

Portfolio Pulse from Henry Khederian

September 22, 2023 | 2:17 pm

AVGO

GOOG

GOOGL

NVDA

Nvidia Corp's stock is trading higher despite U.S. Chips Act policies against China and competition from Huawei's Kirin 9000s processor. China, including Hong Kong, accounted for over 20% of Nvidia's sales in its latest financial year, while Taiwan represented more than 25%. Meanwhile, Alphabet Inc's Google denied reports of replacing Broadcom Inc as a supplier of artificial intelligence chips.

Portfolio Pulse from Anusuya Lahiri

September 22, 2023 | 2:15 pm

ATVI

MSFT

NVDA

SONY

UBSFY

Microsoft has revised its acquisition strategy for Activision Blizzard after facing regulatory hurdles in the U.K. The initial $69 billion bid was met with resistance due to concerns over potential dominance in the cloud gaming sector. The updated proposal includes Microsoft relinquishing cloud rights for current and upcoming Activision games for 15 years to UbiSoft Entertainment. Microsoft has also committed to releasing game versions compatible with other operating systems. The decision on the revised proposal is expected by October 18.

Portfolio Pulse from Anusuya Lahiri

September 22, 2023 | 2:13 pm

MA

Mastercard has written to several members of the U.S. Congress to express concerns about the potential negative impacts of the Credit Card Competition Act on consumers, businesses, and financial institutions. The company argues that the Act would remove consumer choice, erode security, eliminate rewards, and prevent small businesses from investing in their future.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:13 pm

CITADEL

SPY

The U.S. Securities and Exchange Commission (SEC) has charged Citadel Securities for violating order marking requirements of short sale regulations.

Portfolio Pulse from Benzinga Newsdesk

September 22, 2023 | 2:05 pm