Streetbeat News

Regulatory

SHLS

Shoals Technologies Group (NASDAQ:SHLS) has amended its patent infringement complaint against Voltage, LLC, adding a third, recently-issued U.S Patent. The patent relates to improved connectors for solar panel arrays. Shoals' complaint requests that the ITC issue a limited exclusion order and a cease and desist order against Voltage and related entities to bar the importation into the United States of devices, components and products that are alleged to infringe Shoals' patents.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 8:53 pm

Ford's CFO has stated that the company is not providing a date for when it will be able to produce 2 million electric vehicles (EVs) annually. This is a change from their previous target of the end of 2026.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 8:35 pm

AAPL

AMZN

GOOGL

IRBT

MSFT

The Federal Trade Commission (FTC) is expected to file an antitrust lawsuit against Amazon (AMZN) that could potentially break apart some parts of the company. The FTC recently lost an antitrust lawsuit against Microsoft's (MSFT) acquisition of Activision Blizzard (ATVI). The Department of Justice is reportedly preparing an antitrust lawsuit against Apple (AAPL) and has already sued Google's parent company, Alphabet (GOOG, GOOGL), for monopolizing digital advertising technologies. The FTC is also investigating Amazon's proposed acquisition of iRobot (IRBT).

Portfolio Pulse from Natan Ponieman

July 27, 2023 | 8:25 pm

SCTL

Societal CDMO Inc. (NASDAQ:SCTL) has secured a DEA Schedule 1 Controlled Substances manufacturer’s license, allowing it to enter the biopharma industry’s psychedelic drugs subsection. This expands Societal’s drug development capabilities, building on its 25 years of experience manufacturing Schedule 2 compounds. The company will now offer research and commercial customers high-quality cGMP clinical psychedelic supplies.

Portfolio Pulse from Lara Goldstein

July 27, 2023 | 8:24 pm

DIA

IWM

TLT

XLF

The VIX index surged over 10% amid speculation that the Bank of Japan might remove the yield curve control, causing major U.S. stock indices to turn red. The SPDR Dow Jones Industrial Average ETF (DIA) broke its record streak, losing 0.7% for the session. The iShares Russell 2000 ETF (IWM) fell 1.3%, and the Financial Select Sector SPDR Fund (XLF) was down 1.3% following new regulations by U.S. regulators. The iShares 20+ Year Treasury Bond ETF (TLT) declined by 2%.

Portfolio Pulse from Piero Cingari

July 27, 2023 | 8:11 pm

BAC

JPM

XLF

US regulators have proposed that large banks increase their capital levels by an average of 16% to safeguard against potential future crises. This will primarily impact the largest banks, many of which already have sufficient capital to comply with these new rules. The Financial Select Sector SPDR Fund (NYSE:XLF) fell as much as 2.2% following the news. The new rules will also apply to institutions with as little as $100 billion in assets, affecting roughly 30 banks. The eight largest banks, including JPMorgan (NYSE:JPM) and Bank of America (NYSE:BAC), will see capital requirements rise by 19% on average.

Portfolio Pulse from Piero Cingari

July 27, 2023 | 7:42 pm

VIEW

View Inc. has been granted a European patent for 'Power Distribution Networks for Electrochromic Devices (Smart Windows)'.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 6:55 pm

CARR

EMR

WHR

President Joe Biden has issued a 'Hazard Alert' to protect workers from the ongoing heatwave in the U.S. and pledged to invest in combating the impact of extreme weather events. The air conditioning market is expected to grow significantly due to the increasing demand caused by climate change. U.S.-based companies Carrier Global Corp, Whirlpool Corporation, and Emerson Electric Co are seeing positive trends, while non-U.S.-based companies like Electrolux AB, Hitachi Ltd, Mitsubishi Electric ADR, and Toshiba Corp are also experiencing favorable pricing trends.

Portfolio Pulse from AJ Fabino

July 27, 2023 | 6:05 pm

ETHUSD

A total of 5,554.23 Ether (ETH) worth $10,358,866 was burned from Ethereum transactions on Wednesday. This follows the implementation of the Ethereum improvement proposal EIP-1159, which changes the fee model and burns a base fee from each transaction, reducing the supply of Ether. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether was -6.38% yesterday.

Portfolio Pulse from Benzinga Insights

July 27, 2023 | 6:00 pm

BHVN

Biohaven Ltd's (NASDAQ:BHVN) shares have dropped after the FDA declined to review the marketing application for troriluzole, a drug under its SCA program, due to the study's primary endpoint not being met. The company can request a Type A meeting within 30 days. Analysts from William Blair maintain an Outperform rating, suggesting there may still be a path to approval following the meeting with the FDA.

Portfolio Pulse from Vandana Singh

July 27, 2023 | 5:59 pm