Streetbeat News

Regulatory

AMZN

COST

TGT

WMT

Vice President Kamala Harris' proposal for a federal ban on price gouging by grocery stores is facing pushback from the food industry. The plan includes increased scrutiny of mergers and a ban on price hikes. Major food retailers like Walmart, Amazon, Costco, Kroger, and Target saw mixed stock movements in response.

Portfolio Pulse from Michael Juliano

August 20, 2024 | 4:05 pm

SPY

The Federal Reserve's annual Jackson Hole Symposium is highly anticipated, with Fed Chair Jerome Powell's speech expected to provide insights into future monetary policy, including potential rate cuts. Historically, the event has had a muted impact on the S&P 500, with mixed market reactions in past years.

Portfolio Pulse from Piero Cingari

August 20, 2024 | 3:23 pm

COIN

Coinbase CEO Brian Armstrong emphasizes payments as a key driver for mainstream crypto adoption, especially in emerging markets. He discusses regulatory strategies and Coinbase's marketing efforts to address traditional financial system frustrations. Armstrong also explores ventures in scientific progress and longevity biotech.

Portfolio Pulse from Khyathi Dalal

August 20, 2024 | 3:23 pm

BABA

NIO

PDD

Shares of US-listed Chinese companies are trading lower after China's central bank decided to keep its one-year and five-year loan prime rates unchanged at 3.35% and 3.85% respectively.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 3:06 pm

Boeing Co. (NYSE:BA) is facing significant challenges, including FAA inspections and halted test flights, which have contributed to a 31% YTD stock decline. Despite these issues, short-term technical indicators show potential bullish signals, though long-term outlook remains uncertain.

Portfolio Pulse from Surbhi Jain

August 20, 2024 | 3:03 pm

CURLF

GLASF

TCNNF

California cannabis companies are shifting to the less regulated hemp market due to high taxes and strict regulations in the cannabis sector. Companies like Green Bee Botanicals and Sunstone Winery have rebranded their products to hemp, benefiting from lower taxes and broader market reach. Larger companies like Glass House Brands and Curaleaf Holdings are also considering or have entered the hemp market. The California Senate recently halted a bill that would impose stricter THC limits, highlighting the ongoing tension between the cannabis and hemp industries.

Portfolio Pulse from Rolando García

August 20, 2024 | 3:02 pm

AZN

JNJ

Johnson & Johnson (JNJ) is acquiring V-Wave for $1.7 billion to enhance its cardiovascular treatment offerings. The FDA also approved JNJ's Rybrevant plus Lazcluze for NSCLC, outperforming AstraZeneca's Tagrisso. JNJ stock rose 0.5% following these developments.

Portfolio Pulse from Vandana Singh

August 20, 2024 | 2:31 pm

BLK

Mantra, a Layer 1 blockchain, aims to bring real-world assets (RWAs) on-chain, potentially reaching a $2 trillion market by 2030. The company is focusing on tokenizing assets like real estate and commodities, enhancing liquidity and accessibility. Mantra is forming strategic partnerships, including with Nomura's Laser Digital and Ondo Finance, to advance its ecosystem.

Portfolio Pulse from Justin Roberti

August 20, 2024 | 2:21 pm

FXI

VGK

China's Commerce Ministry has expressed strong opposition to the EU's definitive findings on an anti-subsidy probe into Chinese electric vehicles (EVs). The Ministry claims that the EU failed to consider China's opinions and insists on its 'wrongdoings'. This development could impact international trade relations and the EV market.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 2:17 pm

VMAR

Vision Marine Technologies shares declined following the approval of a 15-for-1 reverse stock split and a non-compliance letter from Nasdaq.

Portfolio Pulse from Benzinga Newsdesk

August 20, 2024 | 2:17 pm