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A new Solana-based meme coin has surged 2000% in less than a month. A US court approved a $2.7B settlement against Binance. Biden's approval rating drops amid inflation issues. Cathie Wood's Ark Invest shifts its crypto holdings. HEICO reports strong sales, and the Fear & Greed Index indicates 'Extreme Greed'. Tesla and Ford face potential impacts from EV tax credit changes. Google settles an antitrust case for $700M. Tesla shares rebound in premarket trading. Hyundai divests Russian facilities with a loss, and ADM acquires Revela Foods. Eli Lilly's shares may surge due to a new drug, according to Goldman Sachs.

Portfolio Pulse from Akanksha Bakshi

December 19, 2023 | 1:42 pm

UTI

Universal Technical Institute, Inc. (NYSE:UTI) has converted all its Series A Preferred Stock into Common Stock, effective December 18, 2023. This conversion increases the outstanding Common Stock by 19.3 million shares. Prior to the conversion, UTI bought back 33,300 shares of Series A Preferred Stock from Coliseum Capital Management, LLC, which were convertible into 1,000,000 shares of Common Stock. Additionally, Chris Shackelton of Coliseum has been appointed as a Class III director on UTI's board.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:38 pm

BCOV

Brightcove Inc. has expanded its executive team by creating a new COO position and appointing David Beck to the role. Additionally, Kathy Klingler has joined as CMO and Jim Norton as CRO, marking a significant build-out of the company's leadership.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:37 pm

INBS

Intelligent Bio Solutions has been accredited by the National Association of Testing Authorities for its drug screening solution, Intelligent Fingerprinting. This accreditation could enhance the credibility and adoption of their product in the market.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:34 pm

APLD

Applied Digital Corporation (NASDAQ:APLD) has entered into a long-term Retail Electric Service Agreement with TerraForm Power for a 200-MW datacenter in Garden City, Texas. The datacenter will interconnect with TerraForm's Wind Farm, facilitating low-cost power and alleviating transmission congestion. This partnership highlights Applied Digital's industry-leading digital infrastructure platform and TerraForm Power's commitment to providing energy solutions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:18 pm

GIL

Oakcliff Capital, a shareholder of Gildan Activewear Inc. (NYSE:GIL), has sent a letter to Gildan's Board of Directors expressing dissatisfaction with the firing of CEO Glenn Chamandy and the direction of the board. Oakcliff, which owns 0.4% of Gildan's shares, is calling for Chamandy's reinstatement and a change in the board's chairman, as well as the addition of two shareholder representatives. They believe these changes are urgent to resolve the uncertainty affecting Gildan's customer and employee relationships.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:17 pm

AAPL

NVDA

TSM

Mark Liu, Chairman of Taiwan Semiconductor Manufacturing Company Ltd (NYSE:TSM), is set to retire after the 2024 Annual Shareholders Meeting. He has been instrumental in TSMC's growth and expansion, including overseas ventures in Germany, Japan, and the U.S. CEO C.C.Wei is proposed to succeed him as chairman. TSMC holds over 55% of the global chipmaking market share and has seen its market value triple since 2018. The company is a key partner for Apple Inc. (NASDAQ: AAPL) and Nvidia Corp. (NASDAQ: NVDA). TSM shares saw a slight decline in premarket trading.

Portfolio Pulse from Vandana Singh

December 19, 2023 | 1:10 pm

MDAI

Spectral AI has announced the appointment of Peter Carlson as its new Chief Financial Officer (CFO), taking over from Nils Windler. The company has not provided details on the reasons for the change or the future plans of the outgoing CFO.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:07 pm

FITB

Fifth Third Bancorp (NASDAQ:FITB) announced executive leadership changes effective January 2, 2024. Tim Spence is appointed as chairman of the board, succeeding Nick Akins, who becomes lead independent director. Jamie Leonard transitions from CFO to COO, overseeing key customer-facing groups. Bryan Preston, currently treasurer, is promoted to CFO, and Brennen Willingham steps up as treasurer. These changes aim to position Fifth Third for stability, profitability, and growth.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 1:02 pm

ILMN

Carl Icahn is intensifying his boardroom battle at Illumina Inc (NASDAQ:ILMN) by seeking to remove more directors after the company's decision to divest Grail Inc. Icahn, who successfully pushed for the ousting of former CEO Francis deSouza and the divestiture of Grail, now aims to remove 'legacy conflicted directors' whom he blames for poor decision-making and a significant drop in Illumina's share price. The activist investor's plans may change before the January 26 nomination deadline, with voting on nominees expected at the next annual general meeting.

Portfolio Pulse from Vandana Singh

December 19, 2023 | 12:58 pm