Streetbeat News

Regulatory

TSLA

Tesla Inc (NASDAQ:TSLA) and CEO Elon Musk are expected to pay out approximately $41.5 million to 3,350 eligible claimants who lost money after Musk's 2018 tweet about taking the company private. The payout is part of a settlement with the U.S. Securities and Exchange Commission (SEC) over a lawsuit accusing Musk of defrauding investors. The SEC settlement also included $20 million in payments from both Musk and Tesla, and Musk stepping down as chairman of Tesla.

Portfolio Pulse from Adam Eckert

August 24, 2023 | 6:58 pm

SPY

VGK

The Pentagon has stated that there is no information to suggest that a surface-to-air missile was responsible for taking down Prigozhin's aircraft.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 6:52 pm

FXI

SPY

U.S. Treasury's Adeyemo expressed concerns about developing economies and those in Asia and Europe that are reliant on the Chinese economy for growth. He also mentioned that U.S. economic momentum is being driven by investments in infrastructure, green energy, and underserved communities.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 6:50 pm

FXI

SPY

U.S. Treasury's Adeyemo has expressed concern over the weakening Chinese economy and its global implications. However, he believes the U.S. is well-prepared to handle the economic headwinds created by this situation.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 6:49 pm

MU

NVDA

SMH

SOXQ

SOXX

TSM

China is reviving its 'Thousand Talents Plan' (TTP) under a new name, Qiming, to attract top scientists and accelerate its semiconductor industry. This move comes in response to stricter U.S. export controls. The program offers substantial signing bonuses and other incentives. Major industry players like Nvidia Corp, Taiwan Semiconductor Mfg. Co. Ltd., and Micron Technology Inc have already adjusted their strategies in response to U.S. regulations. The broader semiconductor sector, represented by iShares Semiconductor ETF, Invesco PHLX Semiconductor ETF, and VanEck Semiconductor ETF, could also be impacted.

Portfolio Pulse from AJ Fabino

August 24, 2023 | 6:48 pm

FUV

Arcimoto has reported the production of 94 new Fun Utility Vehicles (FUVs) during the first half of 2023, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 6:43 pm

SWTX

SpringWorks Therapeutics Inc (NASDAQ:SWTX) received a Form 483 letter from the FDA in March due to a failure in the analysis of an exploratory endpoint in the Phase 3 DeFi trial. However, the company corrected the analysis and the FDA has completed all required inspections. Analysts from HC Wainwright continue to view nirogacestat as the standard-of-care regimen for treating desmoid tumors and expect it to receive FDA approval. They reiterated a Buy rating for SWTX with a price target of $66.

Portfolio Pulse from Vandana Singh

August 24, 2023 | 6:35 pm

TIVC

Tivic Health Systems (NASDAQ:TIVC) stock is trading lower by 8.5% after the company announced a 1-for-100 reverse stock split. The move is aimed at complying with Nasdaq listing requirements as the company faced delisting due to low stock price. The reverse split is expected to restore compliance and maintain the company's Nasdaq listing.

Portfolio Pulse from Henry Khederian

August 24, 2023 | 6:32 pm

MDT

Medtronic's shares are trading lower following the FDA CSDP's recommendation against the approval of the company's blood pressure treatment device, citing that the associated risks do not outweigh the benefits.

Portfolio Pulse from Benzinga Newsdesk

August 24, 2023 | 6:30 pm