Streetbeat News

Regulatory

ITA

LMT

NOC

RTX

SCHD

China has imposed sanctions on Lockheed Martin subsidiaries and executives over U.S. arms sales to Taiwan. The sanctions include asset freezes and entry bans for senior executives. This move is part of China's broader strategy to counter foreign actions related to Taiwan.

Portfolio Pulse from Shivani Kumaresan

June 21, 2024 | 4:22 pm

NXL

Nexalin Technology shares are trading higher following the announcement of a new patent by the USPTO for its deep intracranial frequency stimulation device aimed at treating Alzheimer's and dementia.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 4:21 pm

Micron Technology (NASDAQ:MU) shares are trading lower due to construction delays caused by the discovery of endangered bat species at a prospective factory site. Despite this, several analysts have raised their price targets for the stock. Micron is set to report its Q3 financial results on June 26, with expected earnings of 49 cents per share and revenue of $6.634 billion.

Portfolio Pulse from Erica Kollmann

June 21, 2024 | 4:13 pm

BAC

JPM

The US Federal Reserve has identified shortcomings in the 'living wills' of Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase. These banks must address the issues in their next resolution plan due by July 2025. The FDIC found a 'deficiency' in Citigroup's plan. The banks are instructed to fix derivatives unwinding and contingency planning, and obtain necessary foreign government actions.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 4:02 pm

SWBI

Smith & Wesson Brands shares are trading lower after initially rising on Q4 earnings. The US Supreme Court upheld a gun ban for domestic violence cases, which may impact the company's future sales.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 3:27 pm

PLTR

RGR

SPY

SWBI

The latest market summary highlights several key events: PMI beats estimates, US existing home sales fall slightly, Palantir falls on an analyst downgrade, and the US Supreme Court upholds a gun ban for domestic violence cases.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 3:26 pm

NIO

NIO Inc. (NYSE:NIO) has launched a new flagship NIO House in Hamburg, Germany, marking its fourth showroom in the country and eighth in Europe. This expansion comes amid increased tariffs on Chinese electric vehicles by the European Commission, which will impact NIO with an additional 21% tariff. Despite the challenges, NIO remains committed to the European market.

Portfolio Pulse from Nabaparna Bhattacharya

June 21, 2024 | 3:13 pm

BYDDF

BYDDY

NIO

TSLA

VFS

XPEV

The EU's proposed tariffs on Chinese EVs are lower than expected, particularly for BYD, which faces a 17.4% tariff. This has led to a positive market reaction for BYD and other Chinese EV makers. The tariffs are not expected to significantly impact the profitability of these companies in Europe. Chinese EV companies are likely to set up factories in Europe to mitigate tariff and transport costs.

Portfolio Pulse from The Bamboo Works

June 21, 2024 | 3:07 pm

BTI

The FDA has authorized the marketing of four menthol-flavored e-cigarette products after an extensive scientific review. This decision could impact companies involved in the e-cigarette market.

Portfolio Pulse from Benzinga Newsdesk

June 21, 2024 | 2:55 pm

XRPUSD

A California judge has advanced a civil securities lawsuit against Ripple Labs, setting the stage for a trial. The court denied part of Ripple's motion for summary judgment, focusing on allegations that Ripple's CEO violated state securities laws in 2017. The trial will examine whether Ripple CEO Brad Garlinghouse made misleading statements about the sale of securities during a 2017 interview. Ripple's Chief Legal Officer expressed satisfaction with the dismissal of all class action claims, but the individual state law claim will proceed to trial.

Portfolio Pulse from Murtuza Merchant

June 21, 2024 | 2:49 pm