Streetbeat News

Security

USO

Oil prices have risen for a second consecutive week due to tensions in the Red Sea, with Nymex WTI up 4.6% and Brent crude up 4.7% for the week. The United States Oil Fund (USO) also saw a weekly increase of 2.8%. Freight companies, including BP, have suspended shipments through the Red Sea/Suez Canal, opting for longer routes around the Cape of Africa, leading to supply chain delays and spot market price hikes. Despite recent gains, USO is still 16% below its 2023 peak.

Portfolio Pulse from Neil Dennis

December 22, 2023 | 4:33 pm

META

Meta Platforms Inc (NASDAQ:META) is facing backlash over its decision to implement encryption for Facebook direct messages, with concerns raised about the potential for abuse, particularly child sexual abuse. Employees, including former engineering director David Erb, have warned that encryption could hinder efforts to detect and report such abuse. Despite these concerns, Meta emphasizes privacy as a fundamental right and claims to have developed safety measures to prevent misuse. Law enforcement and child safety advocates are worried about the impact on investigations, while privacy advocates support the encryption for user protection. META shares saw a slight increase of 0.20% to $354.82.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 3:08 pm

EIS

SPY

USO

According to the Wall Street Journal, an Iranian ship is supplying Houthi rebels with intelligence to target vessels in the Red Sea. This assistance from Iran's paramilitary is aiding the Houthis in attacking ships, as reported by sources.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:43 pm

TSLA

Sweden's Transport Agency is investigating Tesla over suspension failures, in a probe similar to one conducted by Norway. The investigation could potentially lead to recalls or other regulatory actions if defects are confirmed.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 2:33 pm

AAPL

AMZN

BRK.A

DIS

MSFT

NKE

TSLA

Cryptocurrencies like Dogecoin, SHIB, and Solana are experiencing significant market movements. Tesla is recalling 120,000 Model S and X EVs due to door issues. Nike and NetEase stocks moved lower in pre-market trading. US markets are optimistic with Dow jumping over 300 points. US and world politics are active with developments in US-China relations and Trump's potential 2024 run. The US economy sees criticism from Peter Schiff regarding Q3 GDP. In tech, Apple and Microsoft face challenges, while Tencent is hit by new regulations. The EV sector is highlighted by Tesla's recall and bullish predictions. GM recalls Chevrolet Bolt EVs. Amazon and Disney face challenges in communication, while Boeing resumes 787 deliveries to China. US banks may face significant losses in real estate, and Berkshire Hathaway increases its stake in Occidental Petroleum.

Portfolio Pulse from Akanksha Bakshi

December 22, 2023 | 1:35 pm

NPSCY

The White House has expressed concerns over the proposed acquisition of U.S. Steel (NYSE:X) by Japan's Nippon Steel (OTC:NPSCY), citing national security and supply chain implications. The $14.1 billion deal is under scrutiny by the Committee on Foreign Investment in the United States (CFIUS). U.S. Steel and Nippon Steel are cooperating with the review process. The United Steelworkers union and several legislators have also expressed concerns about the deal's impact on domestic steel production.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 1:12 pm

NVDA

Nvidia Corp (NASDAQ:NVDA) stock is trading lower due to the U.S. Department of Commerce's announcement of a new survey to analyze the U.S. semiconductor supply chain and national defense industrial base, with a focus on legacy chips and security risks related to China. Nvidia is already affected by the U.S. embargo on semiconductor and AI technology exports to China. The survey, mandated by the NDAA for FY 2021, aims to strengthen the supply chain and address national security concerns. NVDA shares dropped 0.47% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 12:34 pm

MARA

MULN

NKE

RIOT

TSLA

U.S. stocks were up with the Dow, S&P 500, and Nasdaq posting gains. Nike (NKE) fell in after-hours despite beating earnings due to revenue miss. Marathon Digital (MARA) surged on mining expansion and crypto optimism. Mullen Automotive (MULN) soared after vehicle delivery news and CARB certification. Riot Platforms (RIOT) increased modestly with Bitcoin's rise. Tesla (TSLA) rose despite potential safety issues in Norway.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 2:05 am

Brunswick Corporation reported that a limited amount of sensitive personal data was impacted by a previously reported data security incident. However, the company believes there is no indication that the personal data has been or will be misused.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 11:02 pm

NVDA

TTWO

UBER

Arion Kurtaj, an 18-year-old hacker associated with the Lapsus$ group, has been sentenced to indefinite hospital detention for cybercrimes, including hacking into Take-Two Interactive's Rockstar Games and threatening to leak 'Grand Theft Auto VI' source code. He also caused significant damages to Uber Technologies and accessed customer data from Revolut. Despite being unfit for trial due to autism, he was found guilty of multiple offenses. His accomplice received a youth rehabilitation order.

Portfolio Pulse from Franca Quarneti

December 21, 2023 | 10:15 pm