Streetbeat News

Regulatory

META

Meta Platforms Inc. (NASDAQ:META) faces backlash after users discovered changes to political content settings on Instagram and Threads. The settings, intended to limit political content recommendations, were found to reset upon app closure, causing user frustration. Meta acknowledged the issue and is working on a fix.

Portfolio Pulse from Franca Quarneti

June 26, 2024 | 4:53 pm

PRGO

SPY

The U.S. Supreme Court is expected to allow abortions in medical emergencies in Idaho, according to a Bloomberg reporter citing a copy of an opinion briefly posted on the court's website.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 4:50 pm

TVGN

Tevogen Bio has filed a registration statement on Form S-1 to register the issuance of previously disclosed shares of the company's common stock.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 4:49 pm

TEM

Tempus AI shares are trading higher after the company announced it received U.S. FDA 510(k) clearance for its Tempus ECG-AF device, which uses AI to help identify patients at increased risk of atrial fibrillation/flutter.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 4:46 pm

SPY

The New York Transit Authority has voted to indefinitely halt the Manhattan congestion pricing plan. This decision could have implications for various sectors, including transportation and urban development.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 4:42 pm

BABA

NTES

TCEHY

China's approval of 104 new video games, including titles from Tencent and Alibaba, has positively impacted the gaming industry. NetEase's stock rose by 2.91% following the news. The market has been recovering since Beijing resumed licensing video games in April 2022.

Portfolio Pulse from Anusuya Lahiri

June 26, 2024 | 4:41 pm

CYBN

Cybin Inc. (AMEX:CYBN) reported a net loss of $57 million for FY 2024, up from $34 million the previous year, amid significant investments in psychedelic therapy development. Despite the losses, the company maintains a strong cash reserve of $152 million, bolstered by a $150 million private placement. Key advancements include FDA Breakthrough Therapy Designation for CYB003 and initiation of Phase 2 trials for CYB004. Shares of CYBN were trading 3.90% lower at $0.2537.

Portfolio Pulse from Patricio Liddle

June 26, 2024 | 4:14 pm

JBLU

JetBlue plans to apply for DOT slot exemptions to add a second daily nonstop flight between Washington National and San Juan. This is part of a broader effort to enhance Puerto Rico connectivity, including new domestic and international destinations, Mint service, and a new crew base in San Juan.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 4:03 pm

ETHUSD

XRPUSD

Ripple CEO Brad Garlinghouse criticized SEC Chair Gary Gensler, claiming his actions could lead to President Biden's defeat in the upcoming election. This comes amid a prolonged legal battle between the SEC and Ripple over the classification of XRP as a security. Gensler also provided updates on the progress of spot Ethereum ETFs in the U.S.

Portfolio Pulse from Murtuza Merchant

June 26, 2024 | 3:39 pm

BAC

FTXO

JPM

KBE

KBWB

PNC

USB

WFM

The six largest U.S. banks, including JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, U.S. Bancorp, and PNC Financial Services, have significantly increased their share buybacks despite recent stress tests. These banks collectively repurchased over $14 billion in shares in Q1 2023, a 73% increase from the previous six months. The Federal Reserve's potential easing of capital-rule proposals has likely influenced this decision.

Portfolio Pulse from Michael Juliano

June 26, 2024 | 3:37 pm