Streetbeat News

Regulatory

SPY

The U.S. Department of Transportation has announced $3 million in 'Quick Release' emergency relief funding to rebuild the I-95 highway in Philadelphia.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 3:08 pm

PDD

PDD Holdings Inc's shares are trading higher by 2.95% after China's central bank cut the borrowing cost of its medium-term policy loans. This move is part of Beijing's efforts to stabilize the uncertain economic recovery.

Portfolio Pulse from Henry Khederian

June 15, 2023 | 3:04 pm

JD.Com Inc (NASDAQ:JD) shares are trading higher by 2.69% to $39.68 after China's central bank cut the borrowing cost of its medium-term policy loans, signaling intensified stimulus efforts to stabilize the uncertain economic recovery.

Portfolio Pulse from Henry Khederian

June 15, 2023 | 3:04 pm

BNBUSD

FTTUSD

Cryptocurrency users demand more transparency and protection measures from centralized exchanges (CEXs) like Binance, Kraken, and Bitget after the FTX collapse. Exchanges have increased protection efforts and started offering Proof of Reserves. Bitget, Binance, and OKX have experienced growth in derivatives volume, while tokens like MX, BGB, and OKB have seen strong price gains.

Portfolio Pulse from Murtuza Merchant

June 15, 2023 | 3:03 pm

FXI

China plans to implement new spending and stimulus measures, including issuing $140B of special bonds, to revive its flagging economy. Other possible steps include loosening restrictions on second home sales.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 2:58 pm

NIO

NIO Inc's stock is trading higher as Chinese stocks receive a boost from China's central bank cutting borrowing costs on medium-term policy loans. Nio also announced a price cut on all vehicle models by $4,200 and the discontinuation of free battery swap services for new deposits.

Portfolio Pulse from Adam Eckert

June 15, 2023 | 2:52 pm

ACRHF

CURLF

GTBIF

New York's marijuana market faces challenges from illicit operators and a lawsuit against the Office of Cannabis Management (OCM) by the Coalition for Access to Regulated and Safe Cannabis (CARSC). The lawsuit involves Acreage Holdings, Curaleaf Holdings, Green Thumb Industries, and PharmaCann. Industry professionals suggest prioritizing equity entrepreneurs and accelerating the issuance of legal retail licenses to address these issues.

Portfolio Pulse from Nina Zdinjak

June 15, 2023 | 2:49 pm

AMD

GOOG

GOOGL

META

NVDA

Nvidia, AMD, and peer AI chipmakers' stocks are trading lower amid reports of US legislation eliminating Section 230 immunity for AI companies, potentially allowing prosecution of social media companies for claims based on emerging generative AI technology.

Portfolio Pulse from Anusuya Lahiri

June 15, 2023 | 2:45 pm

HCM

TAK

Takeda (TAK) and HUTCHMED (HCM) announced that the European Medicines Agency (EMA) has validated and accepted for regulatory review the marketing authorization application (MAA) for fruquintinib, a treatment for adult patients with previously treated metastatic colorectal cancer. The application includes data from Phase 3 FRESCO-2 and FRESCO clinical trials.

Portfolio Pulse from Benzinga Newsdesk

June 15, 2023 | 2:32 pm

TSLA

WKSP

Toyota announced a breakthrough in battery technology, claiming solid-state batteries will improve driving range and cut EV costs. Ford filed a patent for a roof-mounted backup EV battery system. Worksport has two groundbreaking products, SOLIS solar-powered tonneau cover and COR on-the-go power system.

Portfolio Pulse from Upwallstreet

June 15, 2023 | 2:12 pm