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Regulatory

SPCE

Japan is considering purchasing Starlink satellite systems from SpaceX to enhance its communication capabilities amid rising tensions over Taiwan. The Starlink system has been a critical communication system for the Ukrainian military and could provide a similar advantage in a potential conflict over Taiwan. This comes as Chinese President Xi Jinping intensifies military pressure on Taiwan.

Portfolio Pulse from Benzinga Newsbot

July 01, 2023 | 3:20 am

MRDB

MariaDB plc (NYSE:MRDB) has received a notice from the New York Stock Exchange (NYSE) for not complying with Section 802.01C of the NYSE Listed Company Manual. The company's average closing price was less than $1.00 per share over a consecutive 30 trading-day period. MariaDB intends to regain compliance within a six-month cure period.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 8:40 pm

BNY Mellon (NYSE:BK) plans to increase its quarterly cash dividend on its common shares by 14% from $0.37 to $0.42 per share, starting from the third quarter of 2023, subject to board approval. The Federal Reserve's 2023 bank stress test results showed BNY Mellon's resilience and strong capital position. The company's Stress Capital Buffer (SCB) requirement will remain at 2.5%, equal to the regulatory floor, effective from October 1, 2023, to September 30, 2024. BNY Mellon continues to be authorized to repurchase common shares under its existing share repurchase program.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 8:39 pm

STT

State Street Corporation (NYSE:STT) has announced its preliminary stress capital buffer (SCB) requirement of 2.5%, effective October 1, 2023, and plans to increase its common stock dividend by 10% to $0.69 in Q3 2023, subject to board approval. The company also intends to continue share repurchases under its existing authorization for up to a total of $4.5 billion in 2023, subject to market conditions. The company's SCB under this year's supervisory stress test was well below the 2.5% minimum, maintaining its common equity tier 1 (CET1) ratio requirement at 8%.

Portfolio Pulse from Happy Mohamed

June 30, 2023 | 8:37 pm

SCHW

Charles Schwab has announced that its calculated stress capital buffer remains 'well below' the 2.5% minimum.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 8:31 pm

SPY

President Biden has announced that the Department of Education will not refer late payments to credit agencies for the next 12 months. This decision could potentially impact the credit scores of millions of Americans.

Portfolio Pulse from Benzinga Newsdesk

June 30, 2023 | 8:12 pm

AAPL

CMCSA

CSCO

NKE

The S&P 500 and other major market indexes ended the week positively, responding well to lower-than-expected inflation data. Apple reclaimed its $3-trillion market cap, while Nike shares fell after Q4 earnings missed estimates. Micron Technology's stock dropped despite better-than-expected Q3 results due to concerns over a Chinese ban on some of its products. The Biden administration's $42-billion investment plan for high-speed internet access boosted some internet provider stocks. Lordstown Motors filed for bankruptcy and received a delisting notice from Nasdaq.

Portfolio Pulse from Natan Ponieman

June 30, 2023 | 8:02 pm

AAPL

AMZN

MSFT

NVDA

SPY

TSLA

The S&P 500 closed the first half of 2023 up about 16%, led by Apple, Microsoft, Amazon, Nvidia, and Tesla. The SPDR S&P 500 ETF Trust (SPY) and the S&P 500 are showing signs of a potential retracement due to a triple top pattern. A pullback is expected in the short term, especially with the Federal Reserve's decision on interest rates in late July. However, the bullish cycle could continue till the end of the year. Traders can use MIAX’s SPIKES Volatility products to play the potential volatility.

Portfolio Pulse from Melanie Schaffer

June 30, 2023 | 8:01 pm

BTCUSD

COIN

ETHUSD

Crypto lending platform Celsius, which filed for bankruptcy in July 2022, has received court approval to liquidate its cryptocurrency holdings to pay its creditors. The company can sell or convert non-Bitcoin and non-Ethereum cryptocurrencies into Bitcoin or Ethereum from July 1, 2023. The ruling comes amid increased scrutiny by the SEC on the cryptocurrency market, with major exchanges like Coinbase, Binance, and Bittrex facing actions.

Portfolio Pulse from Murtuza Merchant

June 30, 2023 | 7:30 pm

CGC

Bruce Linton, founder and former CEO of Canopy Growth Corp (NASDAQ:CGC), discussed the changing perceptions of cannabis and its potential for medical and recreational use in the future. He highlighted the shift in government policies from suppression to regulation, creating opportunities in the cannabis industry. Linton also mentioned the potential for cannabis regulation to create jobs and increase tax revenue. He is optimistic about the potential applications of cannabinoids for weight loss, animal care, and other areas.

Portfolio Pulse from AJ Fabino

June 30, 2023 | 7:15 pm