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CSCO

Cisco has issued a warning about password-spraying attacks targeting Remote Access VPN services on Cisco Secure Firewall devices and other VPN services. These attacks are part of reconnaissance activities and involve trying the same password across multiple accounts. Cisco provided a mitigation guide with indicators of compromise and recommendations such as enabling logging, securing VPN profiles, leveraging TCP shun, configuring ACLs, and using certificate-based authentication. Security researcher Aaron Martin linked these attacks to the 'Brutus' botnet, which initially targeted SSLVPN appliances from various companies and has now expanded to web apps using Active Directory. The botnet uses 20,000 IP addresses worldwide and rotates IPs to avoid detection. Concerns are raised about the acquisition of specific usernames, suggesting a possible undisclosed breach or zero-day exploitation. Two IPs associated with Brutus have been linked to APT29, a Russian espionage group.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:50 pm

MPW

UNH

UnitedHealth Group Inc (NYSE:UNH) provided over $3.3 billion in advance payments to healthcare providers affected by a cyberattack on Change Healthcare's insurance claims system. The attack, attributed to the hacking group 'ALPHV' or 'BlackCat', disrupted financial stability and data security in the healthcare sector. UnitedHealth's response highlights the severity of the situation. Additionally, Medical Properties Trust Inc's (NYSE:MPW) tenant Steward Health Care sold its physician network to UnitedHealth's Optum Care unit. UNH shares slightly increased by 0.02% to $493.19.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 4:48 pm

UPS

UPS (NYSE:UPS) outlined an ambitious growth strategy at its 2024 Investor and Analyst Day, targeting $108 to $114 billion in revenue by 2026. The plan includes a focus on high-margin segments, technological investments, and operational efficiency improvements. Despite expecting a challenging first half of 2024, UPS aims for a consolidated operating margin of 13% by 2026. The company also highlighted its commitment to sustainability, diversity, and employee satisfaction.

Portfolio Pulse from Tornado

March 28, 2024 | 4:01 pm

GM

At the BofA Securities 2024 Automotive Summit, General Motors CFO Paul Jacobson discussed GM's progress in EV production and capital allocation. GM is on track to meet its 2024 EV production goal, with the Cadillac LYRIQ setting monthly sales records. The company aims for EV profitability by 2025 and has initiated a $10 billion share repurchase program. Jacobson also highlighted a $2 billion cost reduction program and the strategic review of Cruise, GM's autonomous vehicle technology.

Portfolio Pulse from Tornado

March 28, 2024 | 3:58 pm

CCI

Ted B. Miller, co-founder of Crown Castle Inc. (CCI), and his investment vehicle, Boots Capital Management, LLC, have filed preliminary proxy materials with the SEC for Crown Castle's 2024 Annual Meeting. Miller criticizes the current leadership for destroying shareholder value and proposes a new slate of directors to restore the company's performance. Crown Castle's stock recently hit a six-year low, underperforming peers for over a decade. Miller's plan aims to refocus on the core tower business and reverse the company's fortunes.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:54 pm

TSLA

Elon Musk, CEO of Tesla and SpaceX, has shifted his stance on digital super-intelligence, suggesting a more optimistic outlook. At the Abundance Summit 2024, Musk estimated a 10-20% chance that super-intelligence could end humanity but emphasized a probable future of abundance as the most likely outcome. This marks a departure from his previous warnings about the dangers of AI, including a call for a pause on AI development exceeding OpenAI's GPT-4 in 2023.

Portfolio Pulse from Ananya Gairola

March 28, 2024 | 3:49 pm

LIXT

White Diamond Research accused Lixte Biotechnology of misleading the public by republishing an old publication as if it were new. The claim was made on X (formerly known as Twitter) and detailed on their website.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:38 pm

AMZN

VCR

XLY

Amazon (NASDAQ:AMZN) is implementing a strategy to cut $1.3 billion in costs by reducing its office space and opting out of leases early, aiming to lower its 33.8% vacancy rate to 25% within the year and to 10% by 2027-2029. This move is part of Amazon's broader effort to slash expenses and optimize workspace utilization. The company has also been involved in a significant real estate deal with the sale of two office buildings in downtown Vancouver. Investors can gain exposure to Amazon's stock through ETFs like SPDR Select Sector Fund – Consumer Discretionary (NYSE:XLY) and Vanguard Consumer Discretion ETF (NYSE:VCR).

Portfolio Pulse from Anusuya Lahiri

March 28, 2024 | 1:57 pm

MBGYY

VWAGY

Mercedes-Benz Group AG (MBGYY) faces liability after a German court ruled against it in a diesel emissions case, holding the company responsible for using emissions-cheating devices in certain diesel cars. The Stuttgart Appeals Court's decision allows owners of affected Mercedes GLC and GLK models to pursue individual claims for compensation. Mercedes-Benz intends to appeal the decision. This case is similar to a previous lawsuit against Volkswagen AG (VWAGY), which settled for €830 million over a diesel emission scandal.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 1:42 pm

MTCH

Z

ZG

JPMorgan analyst Cory A. Carpenter discussed insights from a meeting with Match Group Inc's CEO, Bernard Kim, focusing on Tinder's strategy of incremental innovations and its impact on user engagement and conversion rates. The strategy includes tailored subscription offerings and localized features, aiming to enhance the user experience without major changes to its core swiping mechanism. Additionally, recent board additions at Match Group, including executives from Instacart and Zillow Group, signal a commitment to product and marketing innovation. Despite a downward revision in revenue estimates for the online dating industry, a positive long-term growth outlook is maintained.

Portfolio Pulse from Surbhi Jain

March 28, 2024 | 1:22 pm