Streetbeat News

Regulatory

ARQQ

Arqit has been granted a European patent for 'Autonomous Quality Regulation for Distributed Ledger Networks (Blockchain Systems)', which could enhance its technological edge in blockchain systems.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 4:28 pm

ACB

CGC

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) stock is trading higher following Vice President Kamala Harris's comments on legalizing marijuana. Other cannabis stocks like Aurora Cannabis Inc. (NASDAQ:ACB) and Canopy Growth Corporation (NASDAQ:CGC) are also seeing gains.

Portfolio Pulse from Dylan Berman

September 30, 2024 | 4:27 pm

SPY

Fed's Bostic is open to a half-percentage-point rate cut if the labor market weakens unexpectedly. He expects an orderly easing with slowing inflation and a stable job market. Bostic is cautious about inflation due to the core PCE price index at 2.7% and will monitor jobs data closely.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 4:25 pm

ZCMD

Zhongchao Inc. (NASDAQ:ZCMD) shares surged over 56% as investors flock to China-based stocks following new stimulus measures by China's central bank. These measures include lower interest rates and relaxed real estate restrictions, leading to significant gains in Chinese markets.

Portfolio Pulse from Erica Kollmann

September 30, 2024 | 4:23 pm

BIDU

Baidu Inc (NASDAQ:BIDU) shares have risen by 15% due to China's economic stimulus measures and a strong PMI report. The People's Bank of China has implemented monetary easing, including a reserve requirement ratio cut and a repo rate reduction, boosting liquidity. This is expected to benefit Baidu, a leader in AI and cloud services, by increasing lending capabilities. The positive PMI data suggests potential economic recovery, further supporting Baidu's stock rally.

Portfolio Pulse from Henry Khederian

September 30, 2024 | 4:18 pm

IHRT

IHeartMedia shares are rising due to a report that the FCC has approved the transfer of radio station licenses, enabling Audacy to emerge from bankruptcy.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 4:14 pm

FXI

JD

KWEB

JD.com Inc (NASDAQ:JD) shares have surged 27% over the past week due to strong hopes for increased economic stimulus from the Chinese government and better-than-expected economic data. The People's Bank of China has implemented aggressive monetary easing measures, including a 50 basis point cut in the reserve requirement ratio, injecting significant liquidity into the financial system. This has fueled optimism among investors, benefiting JD.com and other Chinese stocks.

Portfolio Pulse from Henry Khederian

September 30, 2024 | 4:09 pm

CAVA

Hunterbrook Media has posted a critical investigation on X about CAVA Group, Inc., highlighting issues such as poor sanitation grades, use of seed oils, and positive Listeria swabs from the FDA. These concerns are linked to the company's rapid expansion.

Portfolio Pulse from Benzinga Newsdesk

September 30, 2024 | 4:05 pm

CVX

HES

XOM

The FTC has cleared Chevron's $53 billion merger with Hess, with a condition that Hess CEO John Hess will not join Chevron's board. Instead, he will serve as an advisor. The merger still requires resolution of arbitration regarding preemptive rights in a Guyana joint venture. Chevron will own a 30% stake in Guyana's oil production consortium, led by Exxon Mobil with a 45% stake.

Portfolio Pulse from Anusuya Lahiri

September 30, 2024 | 4:02 pm

FCX

Freeport-McMoRan is focusing on organic growth rather than mergers and acquisitions, aiming to increase copper production significantly by 2027. The company plans to expand its El Abra mine in Chile and navigate regulatory challenges in Indonesia.

Portfolio Pulse from Stjepan Kalinic

September 30, 2024 | 3:57 pm