Streetbeat News

Regulatory

SSNLF

The Indian government will provide Samsung Electronics Co. Ltd (NYSE:SSNLF) with a $72.3 million production-linked incentive (PLI), the largest payout under the scheme aimed at boosting domestic manufacturing. Samsung claimed incentives of around $100 million in its first year after generating revenues of approximately $1.8 billion from smartphone sales. The PLI scheme has attracted investments worth ₹6,600 crore, generating a production of ₹3 trillion and creating over 60,000 jobs.

Portfolio Pulse from Shomik Sen Bhattacharjee

August 14, 2023 | 8:11 am

BTCUSD

Former SEC officer John Reed Stark speculates that a Republican win in the 2024 presidential election could lead to a significant transformation in the US approach to cryptocurrency enforcement. This could include the resignation of SEC chief Gary Gensler and the appointment of Hester Peirce, known for her crypto-friendly stance. Stark suggests that this could lead to a decrease in the SEC's crypto-enforcement efforts and an increased likelihood of approving a bitcoin spot ETF.

Portfolio Pulse from Mehab Qureshi

August 14, 2023 | 6:36 am

INDA

India's Wholesale Price Index (WPI) inflation for July was reported at -1.36%, better than the estimated -2.70% and the prior figure of -4.12%.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 6:30 am

DELL

An Australian court has fined a Dell unit $6.5 million for misleading customers about discounts. The court found that the company had misled customers into thinking they were getting a bigger discount than they actually were.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 5:42 am

VALN

Valneva has announced an extension for the Prescription Drug User Fee Act date for its Chikungunya virus vaccine candidate. This could potentially delay the vaccine's approval and market entry.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 5:40 am

BTCUSD

DOGEUSD

ETHUSD

SHIBUSD

The article discusses the potential for investors to become millionaires if the cryptocurrency Shiba Inu (CRYPTO: SHIB) returns to its all-time high. It also mentions that Shiba Inu has been added to platforms like Coinbase, Kraken, and Robinhood, which has increased its profile and valuation. However, the bankruptcies of several cryptocurrency-related companies and pressure from the SEC have negatively impacted Shiba Inu's price and valuation. The article also compares Shiba Inu's performance to that of Dogecoin (CRYPTO: DOGE), Bitcoin (CRYPTO: BTC), and Ethereum (CRYPTO: ETH).

Portfolio Pulse from Chris Katje

August 13, 2023 | 8:12 pm

BTCUSD

COIN

Nassim Nicholas Taleb, author of 'Black Swan', has warned that the declining volume of Bitcoin makes it easier for manipulators to act, potentially leading to a collapse. Bitcoin's trading volume has dropped over 85% from its peak, according to Taleb. Meanwhile, Coinbase Global, Inc. (NASDAQ:COIN) accounted for 61% of the Bitcoin trading volumes among exchanges registered in the U.S. and 5.83% of the global Bitcoin trading volume.

Portfolio Pulse from Shanthi Rexaline

August 12, 2023 | 3:59 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) has halted sales and recalled 209 Class 8 battery-electric trucks following a fire probe. The investigation revealed a specific component as the likely source of a coolant leak, which led to the recall to prevent potential safety hazards. Nikola has also urged safety measures for the owners of its Tre battery electric trucks. The company is now focusing on hydrogen fuel cell trucks and will manufacture battery electric trucks only on demand.

Portfolio Pulse from Ananya Gairola

August 12, 2023 | 8:46 am

CD

Trading of shares in Chindata Group Holdings has been halted, pending further news.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 8:26 pm

JNJ

The U.S. FDA has approved Akeega, a dual action tablet for the treatment of patients with BRCA-positive metastatic castration-resistant prostate cancer. The drug is a combination of niraparib and abiraterone acetate.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 8:19 pm