Streetbeat News

Regulatory

YELL

Yellow Corp. (NASDAQ:YELL), a trucking company that received a $700 million loan from the U.S. government in 2020, has ceased operations and is expected to declare bankruptcy. The loan, which gave the Treasury Department a 30% equity stake in the company, is now at risk. The handling of the loan by the Trump administration has been scrutinized in at least three government investigations.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 10:35 am

GNS

Genius Group Limited (NYSE:GNS) received a Warning Letter from NYSE for violating Section 401 of the Company Guide by failing to disclose material information in compliance with the Company Guide requirements and providing inconsistent information to the investing public.

Portfolio Pulse from Charles Gross

August 04, 2023 | 10:35 am

LTCH

Latch, Inc. (NASDAQ:LTCH) has informed Nasdaq that it does not expect to meet its August 4, 2023 deadline for regaining compliance with its periodic filing obligations due to delays in restating its historical financial statements. As a result, Latch anticipates a delisting determination from Nasdaq and a suspension of its securities from trading on Nasdaq. The company expects its securities to be traded on the OTC Expert Market following the suspension. Latch has also commenced a reduction in force of approximately 59% of its full-time employees.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:33 am

SMR

The U.S. Nuclear Regulatory Commission (NRC) has accepted NuScale Power Corporation's (NYSE:SMR) Standard Design Approval (SDA) Application for formal review. The application is for NuScale's VOYGR™-6 plant design featuring an uprated 77 MWe small modular nuclear reactor (SMR), which will support capacity requirements for a wider range of customers. The NRC provided a 24-month review schedule for approval.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:31 am

BVXV

Nasdaq has granted BiondVax Pharmaceuticals an extension to regain compliance with listing rules. The company now has until February 2023 to meet the minimum $1.00 bid price requirement.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 10:30 am

GLD

IWM

QQQ

TLT

UUP

The July labor market report is expected to influence future Federal Reserve rate decisions and could impact the volatility of five ETFs: iShares 20+ Year Treasury Bond ETF (TLT), Invesco DB USD Bullish Fund ETF (UUP), Invesco QQQ Trust (QQQ), iShares Russell 2000 ETF (IWM), and SPDR Gold Trust (GLD). Stronger-than-expected job growth and rising wages may lead investors to anticipate potential rate hikes, while lower-than-expected data could solidify expectations for a pause in rate increases.

Portfolio Pulse from Piero Cingari

August 04, 2023 | 10:26 am

SPY

Federal Reserve Bank of Atlanta President Raphael Bostic stated that his baseline outlook does not foresee any rate cuts until the second half of 2024 at the earliest.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:21 am

SPY

Federal Reserve's Bostic expects unemployment to rise as inflation falls, possibly to upper threes or 4%. He is determined not to change policy direction until he is sure inflation will reach 2%.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:19 am

SPY

Federal Reserve's Bostic stated that if the economy evolves as he expects, he would be comfortable advocating for no rate hike in September. However, if progress on inflation unexpectedly stalls, he would contemplate a rate hike.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:18 am

SPY

Federal Reserve's Bostic has stated that the Fed should be cautious, patient, and resolute, indicating a potential risk of over-tightening. He also mentioned that he would have 'grudgingly' voted for a rate hike in July.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 10:16 am