Streetbeat News

Regulatory

NNDM

Marc Bistricer, owner of Murchison Ltd. and a dissident shareholder of Nano Dimension Ltd. (NNDM), is facing a hearing before the Capital Markets Tribunal in Canada. Bistricer is accused of profiting from an illegal and abusive short selling scheme that violated Ontario securities law and was contrary to the public interest. The Ontario Securities Commission (OSC) is seeking orders for Bistricer to resign from director or officer positions, cease trading in any securities or derivatives, and not be allowed to acquire any securities permanently.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 1:33 pm

AMZN

GOOG

MSFT

Google's parent company, Alphabet Inc, has been flagged for YouTube's advertising practices, which allegedly bypass the privacy of children. A children's activist group, Fairplay, accused YouTube of exploiting Google's advertising tools to run a $10 ad campaign targeting adult groups on children's video channels. In 2019, Google and YouTube agreed to pay a record $170 million to settle regulators' accusations of illegally collecting personal information from children. Other companies, including Microsoft Corp, Amazon.com Inc, and ByteDance Ltd's TikTok, have also faced FTC penalties for similar practices.

Portfolio Pulse from Anusuya Lahiri

August 25, 2023 | 1:28 pm

COMM

LQR

MYMD

Insiders at CommScope Holding Company, Inc. (COMM), LQR House Inc. (LQR), and MyMD Pharmaceuticals, Inc. (MYMD) have recently made significant share purchases. CommScope launched its SYSTIMAX Constellation edge-based platform, LQR House priced its IPO at $5.00 per share, and the FDA accepted MyMD Pharmaceuticals' investigational new drug application for a Phase 2 study.

Portfolio Pulse from Lisa Levin

August 25, 2023 | 1:23 pm

MSFT

Microsoft's stock has seen a 12% decline after reaching an all-time high in July 2023, but maintains a year-to-date increase of 32%. The company's strategic moves include the integration of Databricks software into its Azure cloud server, which could strain its relationship with OpenAI. Microsoft's acquisition of Activision Blizzard, valued at $69 billion, faces regulatory challenges from the UK's CMA over cloud gaming dominance concerns.

Portfolio Pulse from Zaheer Anwari

August 25, 2023 | 1:19 pm

MMM

The U.S. Securities and Exchange Commission (SEC) has charged 3M (MMM) with violations of the Foreign Corrupt Practices Act related to its China subsidiary.

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 1:17 pm

KURA

NVDA

Japan's decision to release treated radioactive water from the Fukushima nuclear power plant has sparked concerns in the global seafood market, leading to increased sushi prices and import bans from China and Hong Kong. The US, which imported 11,994 tons of fish fillets and fish meat from Japan in 2022, could be impacted. Several US companies import fish from Japan, including Maruha Nichiro America, American Seafoods Group, Pacific Seafood, United States Tuna Company, and Yama Seafood. Kura Sushi USA, Inc. (NASDAQ:KURA), a sushi restaurant chain, sources its fish from domestic suppliers and has seen its shares surge by more than 1,600% since March 2020.

Portfolio Pulse from Piero Cingari

August 25, 2023 | 1:16 pm

MA

V

Mastercard Inc (MA) and Visa Inc (V) are reassessing their relationships with Binance Holdings due to regulatory concerns. Visa has halted new co-branded card issuances with Binance in Europe, while Mastercard plans to sever ties with Binance in September. This could impact Binance's ambitions in the conventional financial domain.

Portfolio Pulse from Anusuya Lahiri

August 25, 2023 | 1:04 pm

HUYA

TME

Huya Inc (HUYA) and Tencent Music Entertainment Group (TME) saw double-digit declines in their social entertainment revenues, including live streaming, after eliminating certain features to curb potential illegal gambling activities. This move significantly impacted their quarterly revenues following the Chinese government's crackdown on online gambling activities. HUYA's live-streaming revenues accounted for 89% of its total sales of $1.3 billion in FY22, while TME's revenue from social entertainment services accounted for 56% of its revenue in FY22. Analysts anticipate that the crackdown could reduce 20% to 70% of live streaming revenue, depending on a platform's exposure to these features.

Portfolio Pulse from Anusuya Lahiri

August 25, 2023 | 12:58 pm

GMVD

G Medical Innovations Holdings Ltd (GMVD) has received a letter from Nasdaq stating its intention to delist the company's ordinary shares due to non-compliance with the minimum $2.5M stockholders' equity requirement under Nasdaq Listing Rule 5550(B).

Portfolio Pulse from Benzinga Newsdesk

August 25, 2023 | 12:44 pm

HKD

AMTD World Media and Entertainment Group, along with L'Officiel Inc. SAS, announced the successful registration of the magazine 'L'OFFICIEL HONG KONG SAR' with the Hong Kong Government's Office For Film, Newspaper and Article Administration. This comes a year after AMTD's global acquisition of L'Officiel Inc. SAS, during which it secured governmental permits or completed acquisitions in South East Asia and the Greater Bay Area.

Portfolio Pulse from Happy Mohamed

August 25, 2023 | 12:32 pm