Streetbeat News

Corporate Responsibility

KRE

NYCB

New York Community Bancorp (NYCB) announced a 'material weakness' in its loan review processes, leading to a leadership change and a 20% stock price drop. This news triggered a sell-off in the regional bank sector, with the SPDR Regional Banking ETF (KRE) also falling over 3%. Analysts have downgraded NYCB and expressed concerns over the banking sector's exposure to real estate loans.

Portfolio Pulse from Piero Cingari

March 01, 2024 | 4:07 pm

GRAMF

Troy Datcher, the former CEO of The Parent Company and a pioneering African-American leader in the cannabis industry, has passed away. His leadership was instrumental in the company's growth and in promoting diversity and social equity. The Parent Company, now merged with Gold Flora Corp (OTC:GRAMF), and the wider cannabis community mourn his loss, recognizing his significant contributions.

Portfolio Pulse from Javier Hasse

March 01, 2024 | 3:48 pm

NYCB

The company has reiterated that the previously announced material weaknesses are not expected to impact its full FY23 financial results, which will be included in the Form 10-K, expected to be filed within the next 15 days. Additionally, George F. Buchanan III and Colleen McCullum have been appointed as Executive Vice President and Chief Risk Officer, and Executive Vice President and Chief Audit Executive, respectively.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 2:48 pm

AMD

BA

TSLA

The article covers a range of topics from cryptocurrency trends, with Dogecoin surging and Bitcoin and Ethereum cooling, to US politics, including Biden vs. Trump voter preferences. It also touches on US and world politics, the economy, tech developments, electric vehicles, consumer issues, communication, industrial contracts, healthcare, general news, space exploration, and energy sector updates. Notably, it mentions companies like AMD, Tesla, and Boeing, among others, in various contexts from stock performance to new contracts and product updates.

Portfolio Pulse from Akanksha Bakshi

March 01, 2024 | 2:46 pm

NTIP

Network-1 Technologies, Inc. has been granted a new patent by the U.S. Patent Office, expanding its Machine-to-Machine (M2M)/Internet of Things (IoT) patent portfolio to a total of 51 patents worldwide. This development strengthens the company's intellectual property position in the rapidly growing M2M/IoT sector.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 1:47 pm

NSC

Ancora Holdings Group, LLC and its affiliates (the Investor Group), holding a significant stake in Norfolk Southern Corporation (NYSE:NSC), issued an open letter criticizing the company's leadership and proposing changes. They highlighted CEO Alan Shaw's 37% pay raise despite poor performance, including the East Palestine derailment. The Investor Group nominated eight candidates for the board and proposed a new management team, urging a focus on safety, growth, and value creation. They criticized the current board's actions as serving CEO interests over shareholders and called for a fact-based election contest.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 1:37 pm

AAPL

META

A U.S. court has ordered NSO Group to share its Pegasus spyware code with WhatsApp, owned by Meta Platforms Inc. (NASDAQ:META), marking a significant victory for WhatsApp in its lawsuit against NSO for spying on users. This development is part of ongoing legal battles involving NSO's Pegasus spyware, including a lawsuit by Apple Inc. (NASDAQ:AAPL) accusing NSO of infiltrating iPhones.

Portfolio Pulse from Rounak Jain

March 01, 2024 | 1:22 pm

D

Dominion Energy announced the conclusion of its business review and will host an investor meeting today to discuss its multi-year financial and capital investment guidance. This indicates a strategic move to provide transparency and potentially set the stage for future growth.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 12:44 pm

NYCB

New York Community Bancorp's shares dropped following the announcement of material weaknesses in its internal controls over loan review, attributed to ineffective oversight, risk assessment, and monitoring activities.

Portfolio Pulse from Benzinga Newsdesk

March 01, 2024 | 12:42 pm

BA

Boeing Company (NYSE:BA) has been awarded a $3.4 billion contract by the U.S. Navy to manufacture P-8A Poseidon aircraft for the Royal Canadian Air Force and the German Navy. The contract includes aircraft for Canada, with the first delivery expected in 2026, and additional aircraft for Germany, increasing their total to eight with the first delivery in 2025. This contract is expected to generate significant economic benefits, including over 3,000 jobs in Canada.

Portfolio Pulse from Shivani Kumaresan

March 01, 2024 | 12:14 pm