Streetbeat News

Regulatory

CORN

EWW

SPY

Mexican President, Andrés Manuel López Obrador, has stated that U.S. big corn producers are pressuring U.S. politicians over Mexico's restriction on GMO corn, asserting that Mexico isn't violating any trade deal.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 2:11 pm

JNJ

Janssen Pharmaceutical, a subsidiary of Johnson & Johnson (JNJ), has received approval from the European Commission for a reduced dosing frequency of its bispecific antibody, Tecvayli.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 1:58 pm

EWC

META

Residents of the Northwest Territories in Canada are struggling to access local news due to Meta's decision to block news content on its platforms in response to the federal government's Online News Act. The Act requires tech giants to pay for news content shared on their platforms. The blockage is particularly concerning as wildfires threaten the region and residents are unable to access critical information. Experts suggest that Canadian media companies could unite to create their own social media platform.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 1:49 pm

BLMN

Starboard Value has reported a 9.9% stake in Bloomin' Brands, according to a 13D filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 1:20 pm

SPY

According to a Reuters poll, 79 out of 95 economists predict that the Federal Reserve will cut the Fed Funds Rate at least once by the end of Q2 2024. The median probability of the U.S. economy entering a recession within a year has fallen to 40%, the lowest in over a year.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 1:12 pm

SPY

According to a Reuters poll, 99 out of 110 economists predict that the U.S. Federal Reserve will maintain the Fed Funds Rate in the 5.25%-5.50% range in September. Over half of the economists, 48 out of 95, believe that the Fed will not cut rates until at least the end of March.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 1:11 pm

MA

V

XRPUSD

Mastercard has launched its CBDC Partner Program, with Ripple and Consensys among the key participants. Other partners include Fluency, Idemia, Consult Hyperion, Fireblocks, and Giesecke+Devrient. The initiative aims to promote payment interoperability in the digital economy. However, Mastercard acknowledges that CBDC adoption faces challenges such as public unfamiliarity and recent controversies in the crypto sector.

Portfolio Pulse from Murtuza Merchant

August 18, 2023 | 1:05 pm

CAN

Canaan Inc. has temporarily shut down approximately 2.0 Exahash/s of its Bitcoin mining computing power in Kazakhstan due to regulatory changes. The company is working to obtain a Type II license for mining hardware owners but must wait for a local partner to obtain a Type I license for mining infrastructure possessors. The shutdown represents about 50% of the company's total installed computing power in Central Asia and North America. The company anticipates a continued suspension of its mining operations in Kazakhstan into the third quarter of 2023, resulting in an expected reduction in Bitcoin generation.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 12:46 pm

AHI

DLO

HE

KVUE

NU

Benzinga's Stock Whisper Index highlights five stocks that are underfollowed and warrant attention. This week's index includes Nu Holdings, Advanced Health Intelligence, DLocal Limited, Kenvue Inc, and Hawaiian Electric Industries. Nu Holdings reported a 60% YoY increase in Q2 revenue, reaching a company record of $1.9 billion. Advanced Health Intelligence is eligible for a partial reimbursement from the Australian government for R&D costs. DLocal Limited reported Q2 revenue of $161.1 million, up 59% YoY. Kenvue Inc, spun out from Johnson & Johnson, has received mostly positive ratings since the spinoff. Hawaiian Electric Industries has faced criticism and potential lawsuits over wildfires in Maui.

Portfolio Pulse from Chris Katje

August 18, 2023 | 12:45 pm

CEI

Camber Energy, Inc. (NYSE:CEI) has released additional information to help identify and combat potential short selling of the company's stock. Independent reports suggest that Merrill Lynch, TD Ameritrade, Charles Schwab, E-Trade, Apex, Wedbush, and National Financial Services have the largest trade imbalances regarding the trading of Camber's stock. The company has provided contact information for the Chief Compliance Officer of each organization and encourages shareholders to demand an internal investigation.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 12:34 pm