Streetbeat News

Regulatory

VFS

VGK

VinFast's CEO announced that the company is in the process of obtaining a safety rating from the Euro New Car Assessment Program. The CFO also stated that they expect to finalize funding from external investors within the next 18 months.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:25 pm

HE

Hawaiian Electric Industries, Inc. (NYSE:HE) shares are trading lower by 7.6% amid wildfires in Hawaii. The company is facing scrutiny for not shutting off power to reduce fire risks. Despite being aware that a power shutdown would have been an effective preventive measure, the utility still needed to integrate this strategy into its fire mitigation protocols.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 3:14 pm

FCX

TECK

Shares of metal companies are trading lower due to potential weakened metal demand in China. This is due to concerns about China's economic health following weak industrial production and retail sales data for July, and rate cuts from the People's Bank of China.

Portfolio Pulse from Benzinga Newsdesk

August 15, 2023 | 3:12 pm

SPY

Federal Reserve's Neel Kashkari has expressed surprise at the resilience of the economy, but noted that inflation is still too high. He feels good about the progress on inflation, but questions whether enough has been done or if more action is needed.

Portfolio Pulse from Happy Mohamed

August 15, 2023 | 3:07 pm

SYBX

Synlogic has been granted U.S. Patent #11723932, which pertains to microorganisms programmed to produce immune modulators and anti-cancer therapeutics in tumor cells. This could potentially lead to advancements in cancer treatment.

Portfolio Pulse from Charles Gross

August 15, 2023 | 3:01 pm

BABA

JD

NIO

TME

TSLA

The People's Bank of China has reduced the one-year medium-term lending facility rates by 15 basis points to 2.5% in response to economic challenges. This move has led to a decline in the Chinese yuan and U.S.-listed Chinese equities. Goldman Sachs has revised its short-term monetary outlook, predicting further easing measures in China.

Portfolio Pulse from Piero Cingari

August 15, 2023 | 2:57 pm

BABA

Alibaba Group Holding Ltd (NYSE:BABA) shares are trading lower following weak industrial production and retail sales data for July in China. The People's Bank of China cut rates, escalating fears about the country's economic health. Alibaba has already faced increased regulatory scrutiny in China, and these economic concerns could further dampen investor confidence in the company's future prospects.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 2:52 pm

FXLV

F45 Training Holdings Inc (NASDAQ:FXLV) announced its intention to voluntarily delist and deregister its securities, leading to a 76% drop in its stock price. The company received a NYSE non-compliance notice due to delayed filings and a sub-$1.00 average stock price over 30 days. F45 is opting for cost-efficiency and focusing on core operations and growth by going private.

Portfolio Pulse from Henry Khederian

August 15, 2023 | 2:50 pm

USDC-USD

Decentralized marketplace Archblock has launched a tokenized U.S. Treasury Bills fund on its platform. The fund, managed by Adapt3r Digital LLC, aims to provide global USDC holders and on-chain investors with liquidity and access to short-term U.S. Treasury Bill yields. Archblock's CIO, Bill Wolf, highlighted the advantages of blockchain in asset management and emphasized the company's mission to simplify asset management.

Portfolio Pulse from Murtuza Merchant

August 15, 2023 | 2:39 pm

BTCUSD

Jacobi Asset Management has listed Europe's first spot Bitcoin ETF on Euronext Amsterdam, nearly two years after its initial approval. The ETF integrates a Renewable Energy Certificate (REC) solution, allowing institutional investors to meet their ESG targets while investing in Bitcoin. The fund directly owns the underlying asset, unlike other European offerings that are debt instruments.

Portfolio Pulse from Murtuza Merchant

August 15, 2023 | 2:34 pm