Streetbeat News

Regulatory

TSLA

Tesla shares are trading lower following Canada's announcement of a 100% EV tariff on China. This impacts Tesla as Model 3 and Model Y vehicles are exported from Shanghai to Canada.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 3:36 pm

KRE

XLF

As the Federal Reserve approaches potential interest-rate cuts, regional banks, tracked by the SPDR S&P Regional Banking ETF (KRE), have shown recent outperformance compared to larger banks, tracked by the Financial Select Sector SPDR Fund (XLF). Despite a favorable short-term outlook for regional banks, long-term prospects still favor large banks due to regulatory and policy advantages.

Portfolio Pulse from Piero Cingari

August 27, 2024 | 3:32 pm

EWW

SPY

The President of Mexico announced a 'pause' in the relationship with the U.S. Embassy following comments by the U.S. Ambassador on Mexico's proposed judicial reform. This diplomatic tension could impact U.S.-Mexico relations.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 3:16 pm

NVDA

TSM

China's export controls on semiconductor materials like germanium and gallium are impacting global supply chains, affecting companies like Taiwan Semiconductor (TSM) and Nvidia (NVDA). These restrictions are causing cost spikes and potential price increases for AI chips.

Portfolio Pulse from Anusuya Lahiri

August 27, 2024 | 3:15 pm

CNTMF

CRLBF

CURLF

GTBIF

MSOS

TCNNF

Cannabis stocks, including Curaleaf Holdings, Trulieve Cannabis, Green Thumb Industries, Cresco Labs, and Cansortium, experienced significant declines following the DEA's delay in cannabis rescheduling. The AdvisorShares Pure US Cannabis ETF (MSOS) also dropped over 10%. Despite the downturn, analysts see potential buying opportunities amid market volatility.

Portfolio Pulse from Nicolás Jose Rodriguez

August 27, 2024 | 3:09 pm

SMCI

Hindenburg Research has issued a short report on Super Micro Computer Inc (NASDAQ:SMCI), alleging accounting manipulation, governance issues, and compliance problems. The report highlights past SEC charges, questionable business relationships, and potential export violations. Super Micro's stock fell 2% following the report.

Portfolio Pulse from Chris Katje

August 27, 2024 | 2:58 pm

FXI

LEGN

Legend Biotech has received approval from the China National Medical Products Administration for its cell therapy product, Ciltacabtagene Autoleucel (Cilta-cel). This approval marks a significant milestone for the company in the Chinese market.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 2:31 pm

RNLX

Renalytix has received an extension from Nasdaq until October 25, 2024, to comply with the minimum bid price and other listing requirements after presenting its operating and financing plan.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 1:44 pm

ILMN

Illumina's TruSight Oncology Comprehensive test receives FDA approval, marking it as the first US FDA-approved genomic profiling IVD kit with pan-cancer companion diagnostic claims. This test can identify biomarkers for targeted cancer therapies, benefiting patients with specific gene fusions.

Portfolio Pulse from Benzinga Newsdesk

August 27, 2024 | 1:19 pm

BTCUSD

COIN

ETHUSD

NVDA

PARA

Coinbase is leading a significant donation surge in the blockchain industry for the 2024 election. Bitcoin ETFs have seen a surge in net inflows, while Ethereum ETFs have experienced outflows. The SEC, led by Gary Gensler, is preparing to take action against Kraken, following similar actions against Binance and Coinbase. Nvidia's stock is under scrutiny as traders anticipate its earnings, with a shift from tech stocks to dividend-paying stocks noted. Paramount's shares dipped after a merger deal with Skydance was announced.

Portfolio Pulse from Akanksha Bakshi

August 27, 2024 | 1:18 pm