Streetbeat News

Regulatory

IWM

QQQ

SPY

UUP

The U.S. economy saw a significant downward revision of 818,000 non-farm payrolls from April 2023 to March 2024, indicating a weaker labor market than expected. This has increased expectations for interest rate cuts, leading to a rally in stocks and a weakening of the U.S. Dollar Index.

Portfolio Pulse from Piero Cingari

August 21, 2024 | 2:59 pm

ANCTF

BUD

QSR

STLA

Alimentation Couche-Tard Inc. has proposed a $31 billion buyout of Seven & I Holdings Co, the Japanese owner of 7-Eleven. This acquisition could shift 7-Eleven's ownership from Japan to Canada, making Alimentation Couche-Tard the world's leading convenience store operator. The deal could face regulatory scrutiny due to its scale.

Portfolio Pulse from Chris Katje

August 21, 2024 | 2:48 pm

TCNNF

The battle over Florida's cannabis legalization initiative, Amendment 3, is heating up. The pro-cannabis campaign, led by Smart and Safe Florida, has raised $71.8 million, largely from Trulieve, while opposition PACs have raised $14.5 million, bolstered by Ken Griffin's $12 million donation. Polls show mixed support for the amendment.

Portfolio Pulse from Maureen Meehan

August 21, 2024 | 2:23 pm

INTC

NXPI

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) has begun construction on its first European plant in Dresden, Germany, with significant industry support and state subsidies covering nearly half of the $11 billion cost. The plant will focus on automotive and industrial chip production, with TSMC holding a 70% stake and partners like Infineon, NXP Semiconductors, and Bosch each holding 10%. The German government is investing heavily in domestic chip production, including a planned Intel plant. Analysts have a positive outlook on TSMC stock, with a 12-month price target suggesting further upside.

Portfolio Pulse from Anusuya Lahiri

August 21, 2024 | 1:42 pm

AAPL

GOOG

The U.K.'s antitrust authority has closed investigations into Google's Play Store and Apple's App Store. This decision comes as the authority prepares for new rules under the Digital Markets, Competition and Consumers Act, which will enhance its powers to address competition in digital markets.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:40 pm

Unilever U.S. is recalling approximately 137,000 cases of Popsicle Jolly Rancher frozen confection products due to the presence of unlabeled milk. This recall affects only products marked for individual sale.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:31 pm

SPY

Kamala Harris proposes a tax on unrealized gains, facing backlash from Wall Street. The proposal includes raising the corporate tax rate and implementing a minimum tax on unrealized gains for high-income individuals. Critics argue it disincentivizes long-term investments.

Portfolio Pulse from Shanthi Rexaline

August 21, 2024 | 1:15 pm

TSLA

China opposes the EU's reduced tariffs on Tesla's China-made EVs, calling them unfair. The EU set Tesla's tariffs at 9%, down from 20.8%. China vows to protect its EV industry.

Portfolio Pulse from Benzinga Neuro

August 21, 2024 | 1:09 pm

TNFA

TNF Pharmaceuticals is advancing its lead program, MYMD-1, through fully funded mid-stage clinical trials after successful Phase 2 results in reducing chronic inflammatory markers. The company holds FDA-cleared Phase 2 INDs for MYMD-1 in rheumatoid arthritis and Hashimoto's thyroiditis.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:07 pm

AVD

American Vanguard Corporation (NYSE:AVD) has submitted voluntary cancellation requests to the EPA for all federal registrations of its Dacthal herbicide products. This follows an emergency suspension by the EPA and the company's decision to stop sales in April 2024.

Portfolio Pulse from Benzinga Newsdesk

August 21, 2024 | 1:06 pm