Streetbeat News

Regulatory

ALK

BA

GABF

ITA

Boeing (NYSE:BA) shares are trading lower following FAA's admission of insufficient oversight after a mid-air emergency involving Alaska Air (NYSE:ALK). Additionally, Boeing is investigating a new quality issue with its 787 Dreamliner. The stock has lost over 18% in the past year. Investors can gain exposure via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Gabelli Financial Services Opportunities ETF (NYSE:GABF).

Portfolio Pulse from Nabaparna Bhattacharya

June 13, 2024 | 4:52 pm

YPF

YPF Sociedad Anonima (NYSE:YPF) shares are trading higher following the passage of an economic reform bill in Argentina's Senate. The bill aims to increase investment by privatizing state-owned enterprises and offering business incentives.

Portfolio Pulse from Dylan Berman

June 13, 2024 | 4:47 pm

AGG

FBND

IUSB

VTEB

The Federal Reserve decided to keep interest rates unchanged at a 23-year high of between 5.25% and 5.5%, aiming to reduce inflation from 3.3% to 2%. Bond ETFs remained stable, with slight increases in their prices. The Fed plans to continue reducing its holdings of Treasury securities and agency debt.

Portfolio Pulse from Michael Juliano

June 13, 2024 | 4:41 pm

SNOW

Snowflake is set to close its investigation into a hacking incident that targeted its clients. The company has taken measures to address the breach and ensure the security of its platform.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 4:41 pm

DKNG

Goldman Sachs analyst Ben Miller has a Buy rating and $60 price target on DraftKings Inc (NASDAQ:DKNG), despite regulatory risks and increased state taxes in Illinois. The acquisition of Jackpocket is seen as a positive, with significant revenue and EBITDA growth expected in the coming years.

Portfolio Pulse from Chris Katje

June 13, 2024 | 4:15 pm

PBHC

Pathfinder Bancorp, Inc. (NASDAQ:PBHC) has received regulatory approvals to acquire the East Syracuse branch of Berkshire Bank. The approvals were granted by the New York State Department of Financial Services and the Federal Deposit Insurance Corporation.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 4:02 pm

USO

Iran has informed the International Atomic Energy Agency (IAEA) that it plans to install 8 cascades of IR-6 centrifuges at the Fordow enrichment plant over the next 3-4 weeks.

Portfolio Pulse from Benzinga Newsdesk

June 13, 2024 | 3:29 pm

ETHUSD

SEC Chairman Gary Gensler has indicated that the approval process for Ethereum spot ETFs may be completed by the end of summer, potentially by late August. This approval could attract significant institutional investment and increase market stability for Ethereum.

Portfolio Pulse from Murtuza Merchant

June 13, 2024 | 3:25 pm

CVX

XOM

Chevron and Exxon Mobil are planning to file a federal lawsuit against the Biden administration's new tailpipe emission rules aimed at increasing electric vehicle production. The lawsuit, supported by the American Petroleum Institute, argues that the EPA has overstepped its authority. This legal action highlights the ongoing tension between the oil industry and the push for electric vehicles.

Portfolio Pulse from Lekha Gupta

June 13, 2024 | 3:23 pm

VANI

Vivani Medical, Inc. (NASDAQ:VANI) shares are trading higher after the FDA cleared the Investigational New Drug application and lifted the clinical hold on NPM-119, allowing the initiation of the LIBERATE-1 Phase 1 clinical trial. This trial will assess the safety, tolerability, and pharmacokinetics of NPM-119, a six-month GLP-1 implant for type 2 diabetes. The stock saw heavy trading volume, with over 11.7 million shares traded compared to the 100-day average of less than 174,000 shares.

Portfolio Pulse from Erica Kollmann

June 13, 2024 | 3:18 pm