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Regulatory

LOVE

Lovesac (LOVE) has announced that its financial statements for FY 2023, included in the annual report on Form 10-K for the fiscal year ended January 29, 2023, should no longer be relied upon.

Portfolio Pulse from Charles Gross

August 16, 2023 | 9:02 pm

TSLA

California is increasing the incentives for low- and moderate-income consumers to purchase electric vehicles, adding an additional $2,000 in credits. This could result in total savings of $17,000 or more for qualifying residents. Tesla Inc (NASDAQ:TSLA) is among the companies that could benefit from these increased incentives.

Portfolio Pulse from Chris Katje

August 16, 2023 | 9:01 pm

FSLR

ICLN

PAVE

TSLA

President Joe Biden celebrated the first anniversary of the Inflation Reduction Act (IRA), emphasizing its role in job creation, climate change mitigation, and deficit reduction. Biden attributed the decline in inflation to the IRA's success in reinvesting in America. He also highlighted the IRA's role in repositioning the U.S. in the global clean energy landscape, with ambitious goals for solar and wind power. Companies like Tesla Inc and First Solar Inc, as well as ETFs like the Global X U.S. Infrastructure Development ETF and iShares Global Clean Energy ETF, could benefit from these policies.

Portfolio Pulse from AJ Fabino

August 16, 2023 | 8:54 pm

QQQ

SPY

The July FOMC minutes reveal a divergence of views among Federal Reserve officials, with a majority emphasizing the presence of significant upside risks to inflation, potentially requiring further tightening of monetary policy. This led to a surge in the U.S. dollar and a rise in Treasury yields, while stocks stumbled. Economists suggest that the Fed might raise rates by a quarter-point in the last quarter if the economy keeps growing and wages remain elevated. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust (QQQ) both closed lower.

Portfolio Pulse from Piero Cingari

August 16, 2023 | 8:53 pm

IDEX

Ideanomics (IDEX) has received a notice from Nasdaq regarding the late filing of its quarterly report on Form 10-Q. The company is expected to submit the report soon to avoid any potential delisting.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 8:38 pm

PBTS

Powerbridge Technologies has received a Nasdaq notification letter regarding a minimum bid price deficiency. The company's stock, PBTS, is currently not meeting the minimum bid price of $1.00 per share required for continued listing on the Nasdaq Stock Market.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 8:32 pm

EQT

EQT Corporation has received approval from the U.S. Federal Trade Commission to acquire Tug Hill's upstream assets and XcL Midstream's gathering and processing assets. The acquisition is expected to lower EQT's cost structure, reduce development risk, increase cash flow and net asset value per share, and maintain its investment grade balance sheet. The transaction is expected to close within the next seven business days.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 8:22 pm

KA

Kineta Inc has regained compliance with the alternative standard under Nasdaq Listing Rule 5550(B)(1), according to a written notice from Nasdaq received on August 15.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 8:03 pm

HE

Hawaiian Electric (HE) is reportedly in discussions with financial restructuring firms, according to sources cited by the Wall Street Journal. The specifics of the restructuring and the potential impact on the company's financial health are not yet clear.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 7:43 pm

JNJ

MRK

PFE

The 5th Circuit Court of Appeals has ruled to prohibit access to the abortion pill, mifepristone, in a case against the FDA. The ruling will not take effect until the Supreme Court weighs in, potentially next year. This could increase demand for birth control pills from companies like Pfizer Inc, Merck & Co Inc, and Johnson & Johnson.

Portfolio Pulse from Aaron Bry

August 16, 2023 | 7:23 pm