Streetbeat News

Regulatory

BGXX

Bright Green Corporation (NASDAQ:BGXX) is set to join the Russell 3000 Index on June 26, 2023, following the annual reconstitution. The company's recent DEA approval makes it the only publicly traded, federally authorized company in the US.

Portfolio Pulse from Vuk Zdinjak

June 23, 2023 | 1:56 pm

DFS

NAVI

NNI

SLM

SOFI

The US student loan market faces potential disruption as the Supreme Court is set to rule on the Biden Administration's plan to alleviate student debt. Regardless of the outcome, the resumption of federal student loan repayments by the end of August is expected to increase delinquency rates, posing challenges to the market. Bank of America research note highlights potential ripple effects in other debt categories.

Portfolio Pulse from Piero Cingari

June 23, 2023 | 1:51 pm

SPY

USA Manufacturing PMI for June came in at 46.3, lower than the estimated 48.5 and the prior month's 48.4.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 1:49 pm

SPY

S&P Global Composite PMI for June came in at 53, lower than the previous month's 54.3.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 1:48 pm

PLNHF

Planet 13 Holdings Inc. (OTCQX:PLNHF) (CSE:PLTH) has received the Nevada state consumption lounge license, allowing the company to proceed with the final design and buildout of its consumption lounge. The lounge is expected to be completed in Q1 2024 and will enhance the Las Vegas SuperStore's appeal as a cannabis destination.

Portfolio Pulse from Vuk Zdinjak

June 23, 2023 | 1:48 pm

AAL

ALK

BA

DAL

JBLU

LUV

SAVE

UAL

Transportation Secretary Pete Buttigieg warns of potential air-travel disruption due to airlines needing to retrofit equipment to avoid interference from 5G wireless signals.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 1:46 pm

CVNA

Forbes investigation reveals allegations of fraudulent invoicing and subpar work by HyperSport Industries, a former vendor of Carvana. HyperSport performed cosmetic work on used cars sold by Carvana and was allegedly controlled by a Carvana manager or his associates. Carvana has not been accused of any wrongdoing in connection with HyperSport.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 1:41 pm

BABA

Alibaba Group Holding Limited (NYSE:BABA) is preparing for a major overhaul under new leadership, with Eddie Yongming Wu set to become CEO in the autumn. The company aims to regain market share lost to emerging online platforms while complying with China's regulatory norms. Jack Ma plans to be more deeply involved, focusing on small and medium-sized Taobao sellers.

Portfolio Pulse from Anusuya Lahiri

June 23, 2023 | 1:40 pm

SPY

Fed's Daly states that inflation expectations, frequency, and magnitude of price changes are on a downward trajectory, and the Fed aims to work resolutely and carefully to restore price stability.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 1:38 pm

SPY

Fed's Daly suggests slowing the rate-hike pace due to potential for extra tightening, citing inflation and labor shortages as major concerns from community and business contacts.

Portfolio Pulse from Benzinga Newsdesk

June 23, 2023 | 1:37 pm