Streetbeat News

Legal

MSFT

Microsoft's President Brad Smith stated that the company expects to take additional steps to resolve the EU investigation into its Teams software. Smith mentioned that receiving a statement of objections from the EU would not be surprising and is not an irreversible step in resolving the issue.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 12:26 pm

AX

Hindenburg Research has issued a report on Axos Financial, highlighting significant issues with the company's commercial real estate loans and lax underwriting practices. The report suggests that Axos Financial is overvalued given these underlying problems.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 12:17 pm

AX

Axos Financial shares are trading lower following a short report issued by Hindenburg Research.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 12:17 pm

BTCUSD

ETHUSD

XRPUSD

In 2024, the cryptocurrency market saw a strong recovery, with Bitcoin and Ethereum surging over 60% year-to-date. However, XRP lagged behind, falling 16% due to ongoing legal issues with the SEC, selling pressure from Ripple Labs, and the approval of Bitcoin and Ethereum spot ETFs. Experts suggest that regulatory uncertainties and negative perceptions have dampened XRP's demand.

Portfolio Pulse from Aniket Verma

June 04, 2024 | 11:37 am

APIE

AVIV

HMC

TM

Japanese transportation ministry officials are investigating Toyota Motor Corporation (NYSE:TM) and other automakers over certification irregularities. Toyota has halted shipments and sales of three models in Japan. The scandal involves inaccurate or altered data in vehicle certification processes, affecting multiple companies.

Portfolio Pulse from Lekha Gupta

June 04, 2024 | 10:31 am

IYW

MSFT

XLK

Microsoft is facing privacy complaints from NOYB regarding its 365 Education suite, alleging violations of EU privacy regulations. The complaints focus on data controller responsibilities and user tracking through cookies. NOYB seeks an investigation and penalties from the Austrian Data Protection Authority.

Portfolio Pulse from Shivani Kumaresan

June 04, 2024 | 10:00 am

GME

Short-seller Andrew Left has raised doubts about Keith Gill's (Roaring Kitty) recent $150 million investment in GameStop (NYSE:GME), suggesting it may not be his own money and lacks a solid investment thesis. Left believes this move is an attempt to take advantage of retail traders and warns that the current market conditions are different from the meme stock rally of 2021.

Portfolio Pulse from Shanthi Rexaline

June 04, 2024 | 9:08 am

JNJ

Johnson & Johnson (NYSE:JNJ) has been ordered to pay $260 million in a talc trial, with $60 million in compensatory damages and $200 million in punitive damages. The company plans to appeal the decision, which comes amid ongoing legal battles and a proposed $6.48 billion settlement for talc-related lawsuits.

Portfolio Pulse from Benzinga Neuro

June 04, 2024 | 5:58 am

GME

Ross Gerber, CEO of Gerber Kawasaki, expressed concerns about GameStop (NYSE:GME) on X, following a significant surge in the stock driven by Keith Gill's (Roaring Kitty) large position reveal. Citron Research and Jim Cramer also commented on the situation, with Cramer advising investors to take profits.

Portfolio Pulse from Benzinga Neuro

June 04, 2024 | 3:27 am

GME

MS

Dave Portnoy criticized E*Trade, owned by Morgan Stanley, for considering banning Roaring Kitty (Keith Gill) over stock manipulation allegations. Citron Research also commented on Roaring Kitty's actions, suggesting possible manipulation. Public.com invited Roaring Kitty to trade on its platform.

Portfolio Pulse from Michael Cohen

June 03, 2024 | 9:57 pm