Streetbeat News

Regulatory

ACI

Secretaries of State for seven U.S. states have written to FTC Chair Khan to express their opposition to Kroger's proposed $24.6B acquisition of Albertsons.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:38 pm

INTC

NVDA

TSEM

Semiconductor stocks are trading lower ahead of NVIDIA's quarterly results. Tower Semiconductor and Intel shares fell after their merger agreement was terminated due to lack of Chinese regulatory approval.

Portfolio Pulse from Benzinga Newsdesk

August 16, 2023 | 4:36 pm

TSLA

The Texas Public Utility Commission has approved a plan to mandate the use of Tesla's technology for electric vehicle (EV) chargers, despite opposition. This decision could potentially increase the demand for Tesla's EV chargers and its related technology.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:17 pm

BMY

Bristol Myers Squibb & Co (NYSE:BMY) announced updated results from a TRIDENT-1 study, showing that repotrectinib, a next-generation ROS1/TRK tyrosine kinase inhibitor (TKI), continued to show high response rates and durable responses in patients with metastatic non-small cell lung cancer. The U.S. FDA accepted the New Drug Application for repotrectinib and granted Priority Review. The study remains ongoing to assess long-term outcomes and additional endpoints.

Portfolio Pulse from Vandana Singh

August 16, 2023 | 4:13 pm

AMZN

SPIKE

Amazon.com, Inc (NASDAQ:AMZN) is trading flat ahead of the Federal Reserve's July meeting minutes release. The stock has been in a downtrend since reaching a 52-week high of $143.63 on Aug. 4. The general market trend and upcoming Fed minutes could increase volatility and potentially drag Amazon's stock down due to its heavy weighting in the S&P 500. Traders can use MIAX’s SPIKES Volatility products (XMIO: SPIKE) to play the potential volatility.

Portfolio Pulse from Melanie Schaffer

August 16, 2023 | 4:03 pm

AMZN

Amazon is imposing a new fee on sellers who ship their products themselves, despite an impending antitrust lawsuit. This move could potentially increase Amazon's revenues but may also attract further regulatory scrutiny.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 4:01 pm

RHHBY

SONN

Sonnet BioTherapeutics Holdings Inc's shares are trading higher after the company announced that the IND for SB221, the Phase 1b/2a trial of SON-1010 in combination with Roche Holding AG's atezolizumab, has been accepted. The study will begin in the U.S. for platinum-resistant ovarian cancer. The trial will establish the maximum tolerated dose of SON-1010 with a fixed dose of atezolizumab. SONN shares are up 23.78% at $0.40 at publication Wednesday.

Portfolio Pulse from Vandana Singh

August 16, 2023 | 4:00 pm

BTCUSD

ETHUSD

EWU

PYPL

PayPal (PYPL.O) will stop allowing UK customers to buy cryptocurrencies through its platform from October 2023 to comply with new rules on crypto promotions. The company expects to restart in early 2024. The move comes as regulators worldwide are increasingly seeking to regulate crypto assets. Earlier this month, PayPal's shares got a boost when it announced the launch of a U.S. dollar stablecoin.

Portfolio Pulse from Happy Mohamed

August 16, 2023 | 3:59 pm

BTCUSD

XRPUSD

Ohio Congressman Warren Davidson has expressed strong opposition to Central Bank Digital Currencies (CBDCs), emphasizing the potential risks they pose to the digital asset ecosystem. He criticized current CBDC models for being centrally managed and reliant on digital IDs, contrasting sharply with decentralized finance (DeFi). Davidson named the Federal Reserve, Ripple (CRYPTO: XRP), and Consensys among those actively participating in CBDC projects. He is in the process of drafting legislation that would criminalize the design, development, testing, and establishment of a Central Bank Digital Currency.

Portfolio Pulse from Murtuza Merchant

August 16, 2023 | 3:58 pm

SLX

The World Trade Organization (WTO) ruled that China overstepped its trade agreements by imposing tariffs on $2.4 billion of U.S. goods, breaching the organization's 'most favored nation' principle. The dispute dates back to the Trump administration's tariffs on steel and aluminum. In response to the ruling, United States Steel Corporation (NYSE:X) and the VanEck Vectors Steel ETF (NYSE:SLX) surged 0.6% on Wednesday.

Portfolio Pulse from Piero Cingari

August 16, 2023 | 3:50 pm