Streetbeat News

Regulatory

FXI

SPY

China's Vice Premier Liu He and U.S. Commerce Secretary Gina Raimondo have agreed to meet at least once a year. This agreement is part of the ongoing efforts to improve the strained relations between the two countries.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 4:06 pm

AUVI

Applied UV (AUVI) received a letter from Nasdaq stating that the company's common stock had not maintained the minimum closing bid price required for continued listing.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 4:03 pm

SPY

The Federal Reserve Bank of St. Louis has announced that it is launching a search for a new leader.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 3:50 pm

COIN

Antonio Juliano, founder of decentralized exchange dYdX, suggests crypto builders should focus on markets outside the U.S. due to regulatory concerns. He believes the challenges of operating in the U.S. may not be worth the effort currently, given the potential in international markets. Brian Armstrong, CEO of Coinbase (NASDAQ:COIN), responded with a more optimistic view, expecting positive changes in the U.S. regulatory landscape for crypto possibly by next year.

Portfolio Pulse from Murtuza Merchant

August 28, 2023 | 3:45 pm

BSX

Boston Scientific's stock (NYSE:BSX) has risen by 6.25% to $53.92 due to positive results from the ADVENT study on Farapulse Pulsed Field Ablation, a system for heart tissue ablation in atrial fibrillation patients. The system is expected to receive approval by next year. Boston Scientific, which also produces pacemakers, defibrillators, and stents, is benefiting from an aging population.

Portfolio Pulse from The Arora Report

August 28, 2023 | 3:43 pm

AAL

The U.S. Department of Transportation (DOT) has fined American Airlines $4.1 million for violating federal statutes and the Department’s rule prohibiting tarmac delays of three hours or more on domestic flights without providing passengers an opportunity to deplane. This is the largest fine ever issued for tarmac delay violations. The investigation found that between 2018 and 2021, American allowed 43 domestic flights to remain on the tarmac for lengthy periods without providing passengers an opportunity to deplane, affecting a total of 5,821 passengers.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 3:21 pm

SPY

The US Securities and Exchange Commission (SEC) is investigating The Change Company, a California-based lender, over its mortgage-backed securities. The regulator is also probing actions of the company's CEO, Steven Sugarman. The Change Company's loans have been backed by some of Wall Street's largest money managers.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 3:19 pm

NKLA

Nikola Corp's shares have fallen by 45% over the past month, with a 5.3% drop to $1.24 on Monday. The decline follows the company's announcement of a registered direct offering involving senior convertible notes worth up to $325 million, with anticipated net proceeds of $124.5 million. The company also revealed that the holders of these shares could resell them, but Nikola will not profit from these sales. The company's shares have also been affected by a voluntary recall of over 200 vehicles following a nearby fire, leading to a temporary halt on new BEV sales.

Portfolio Pulse from Henry Khederian

August 28, 2023 | 2:54 pm

AAL

DAL

EWU

JBLU

LUV

SAVE

UAL

VGK

UK airspace experienced a network-wide failure for air traffic control systems, causing widespread delays at several airports. Major airlines were affected, with hundreds of flights cancelled. The issue has been identified and remedied by National Air Traffic Services (NATS), but a huge backlog remains. Airlines such as British Airways, EasyJet, Loganair, Ryanair, and Aer Lingus have been impacted, with some offering refunds or free flight transfers due to the disruption.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 2:50 pm

LLY

The European Medicines Agency (EMA) has clarified that the shortage of Trulicity, a diabetes drug, in Austria, Finland, Greece, Poland, and Sweden is not due to a quality defect or safety issue. The manufacturer of Trulicity is Eli Lilly and Company (LLY).

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 2:47 pm