Streetbeat News

Regulatory

WKSP

Ford and GM reported strong quarterly sales, driven by increased EV and pickup truck sales. Ford's EV sales grew to 4.4% of its total volume, while GM's EV sales increased by 40% YoY. However, GM faces a $145.8 million penalty for CO2 emissions violations. Worksport is set to release a solar-powered tonneau cover and portable battery system for EVs this summer.

Portfolio Pulse from Upwallstreet

July 05, 2024 | 3:02 pm

PCLOF

PharmaCielo Ltd. (TSXV:PCLO, OTC:PCLOF) reported a 31% year-over-year reduction in net loss for Q1 2024, driven by significant cost-cutting measures. The company also announced the revocation of a cease trade order by the Ontario Securities Commission and a downgrade in its TSX Venture Exchange tier classification.

Portfolio Pulse from Jelena Martinovic

July 05, 2024 | 3:02 pm

JPM

Chase Bank, a division of JPMorgan Chase & Co. (NYSE:JPM), warns customers of potential new charges on bank accounts due to proposed regulations capping overdrafts and late fees. Free services like checking accounts and wealth management tools may soon incur fees.

Portfolio Pulse from Vandana Singh

July 05, 2024 | 3:02 pm

BTCUSD

ETHUSD

The cryptocurrency market has experienced a significant downturn, with Bitcoin and Ethereum seeing sharp declines. Despite this, options traders remain optimistic, particularly for Ethereum. Factors such as Bitcoin miner capitulation and potential short squeezes could stabilize prices. The upcoming Mt. Gox repayment and potential approval of S-1 Forms for crypto-related financial products are also influencing market dynamics.

Portfolio Pulse from Murtuza Merchant

July 05, 2024 | 3:02 pm

AAPL

IYW

VGT

Epic Games has accused Apple Inc. of blocking its efforts to launch the Epic Games Store on iOS devices in Europe, citing arbitrary rejections. This dispute highlights ongoing friction between the two companies despite regulatory pressure from the EU. Apple stock has gained over 15% in the last year, and investors can gain exposure through ETFs like VGT and IYW.

Portfolio Pulse from Shivani Kumaresan

July 05, 2024 | 3:02 pm

PHIO

Trading halt status for PHIO Pharmaceuticals was updated at 8:55 AM ET. The company has announced news and resumption times for trading.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

CGC

CURLF

MSOS

TCNNF

TLRY

The recent federal court ruling dismissing a lawsuit from major cannabis companies could have significant implications for cannabis stocks. Dan Ahrens of AdvisorShares Trust AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) suggests this could lead to favorable regulatory changes. The ruling has caused market volatility, affecting stocks like Trulieve Cannabis (OTC:TCNNF), Canopy Growth (NASDAQ:CGC), and Tilray Brands (NASDAQ:TLRY). Boris Jordan of Curaleaf Holdings (OTC:CURLF) predicts industry consolidation and significant growth potential driven by regulatory changes.

Portfolio Pulse from Patricio Liddle

July 05, 2024 | 3:02 pm

CYN

Trading halt status for CYN was updated at 8:55:00 AM ET. The halt was due to news and resumption times.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

MRDB

On 5 July 2024, MariaDB filed an amendment with the U.S. SEC to its previously filed Solicitation/Recommendation Statement on Schedule 14D-9 from June 24, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 05, 2024 | 3:02 pm

IVV

NVDA

SPY

Nvidia Corp (NASDAQ:NVDA) is projected to sell $12 billion worth of AI chips in China this year, despite U.S. export controls. The company is expected to deliver over 1 million H20 chips, designed to bypass these restrictions. This could significantly boost Nvidia's revenue, although the company is under scrutiny for potential smuggling of advanced AI chips into China. Nvidia's stock has surged over 203% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

July 05, 2024 | 3:02 pm