Streetbeat News

Security

BOAT

SHEL

Shell plc (NYSE:SHEL) has suspended its Red Sea shipments due to increased attacks by Yemen's Houthi rebels, affecting a critical global trade route. This decision reflects broader concerns in the energy sector, with companies like BP and Qatar Energy also avoiding the Red Sea corridor. Secretary of State Antony Blinken highlighted the significant impact on global trade at the World Economic Forum. The disruption has led to a 50% decline in Red Sea/Suez Canal traffic and increased shipping costs. The SonicShares Global Shipping ETF (NYSE:BOAT) saw a rise in its shares due to these disruptions.

Portfolio Pulse from Piero Cingari

January 16, 2024 | 4:02 pm

SPY

USO

U.S. officials have confirmed that the U.S. conducted a new military strike against Houthi anti-ship missiles in Yemen on Tuesday. The operation is part of ongoing efforts to counter the Houthi threat and ensure maritime security in the region.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 3:27 pm

USO

VGK

EU diplomats have expressed initial support for the creation of a European maritime mission in the Red Sea in response to Houthi attacks on commercial ships. The EU condemned the attacks and called for the release of the seized vessel 'Galaxy Leader'. The US and UK, along with other nations, have conducted joint strikes in Yemen as part of Operation 'Prosperity Guardian'. The EU is coordinating with partners to counter threats and is considering enhancing its maritime presence in the region. The impact on Yemen's peace efforts is uncertain.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 3:11 pm

BANL

BIDU

ELAB

Baidu's stock (BIDU) fell by 5% following reports linking its language model to Chinese military research. ELEVAI Labs (ELAB) surged 126% after signing an exclusive manufacturing and license agreement with INmune Bio to use its EMx Technology. Banle Energy International Limited (BANL) rose 52% in support of BYD's first voyage of its car carrier, BYD Explorer 1.

Portfolio Pulse from ryanfaloona@benzinga.com

January 16, 2024 | 1:50 pm

BIDU

Baidu's stock price has fallen following the company's response to media reports that associated its large language model with significant military research in China.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:45 pm

CJET

Chijet Motor Company, Inc. (NASDAQ:CJET) has signed a strategic agreement with Changsha Automobile Innovation Research Institute and Zhiche Xinan to enhance automotive cybersecurity. The collaboration will focus on developing services such as data security, system certification, and security testing for vehicles, particularly in the context of increasing electrification and cloud integration in automotive functionalities. The agreement emphasizes the importance of compliance and user safety in creating a robust cybersecurity infrastructure for intelligent vehicles.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:44 pm

ASNS

Actelis Networks, Inc. has received approval from the US Department of Defense's JITC Labs for cybersecurity and interoperability. This approval also includes the inclusion of Actelis' products on the Approved Products List, which may lead to increased adoption of their solutions within the Department of Defense.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 1:31 pm

MSI

Motorola Solutions showcased its latest security technology at Intersec 2024, focusing on enhanced safety through advanced video, analytics, and access control systems. The company's new offerings aim to provide comprehensive security solutions for various sectors.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 6:45 am

BOAT

EGLE

Houthi rebels targeted the U.S.-owned Gibraltar Eagle, operated by Eagle Bulk Shipping Inc. (NYSE:EGLE), with an anti-ship ballistic missile in the Red Sea, causing no injuries or significant damage. The incident reflects heightened tensions in a key trade region and has led to a rally in shipping stocks, with European maritime companies like A.P. Moller-Maersk and Hapag-Lloyd AG seeing stock price increases. The Sonic Shares Global Shipping ETF (NYSE:BOAT) was not trading due to the U.S. market closure but has rallied 16% over the past month.

Portfolio Pulse from Piero Cingari

January 15, 2024 | 6:53 pm

ALK

BA

SPR

Boeing Commercial Airplanes CEO announced that Boeing will implement extra quality inspections for the 737 Max following an incident with an Alaska Airlines aircraft. The new inspections will focus on work done by Spirit Aerosystems, particularly before Max 9 door plugs are dispatched to Boeing.

Portfolio Pulse from Charles Gross

January 15, 2024 | 1:26 pm