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AX

EES

ZIG

Axos Financial (NYSE:AX) shares have dropped 12.01% following a short report by Hindenburg Research, which alleges problematic loan practices and underestimation of credit losses. The report suggests potential manipulation of credit metrics and highlights significant stress ahead for the company.

Portfolio Pulse from Lekha Gupta

June 04, 2024 | 2:14 pm

DLAKY

KLMR

LUV

The U.S. Transportation Department has fined Lufthansa, KLM Royal Dutch Airways, and South African Airways a total of $2.5 million for delays in issuing COVID-19-related refunds. Lufthansa and KLM each face $1.1 million in penalties. The DOT has facilitated nearly $4 billion in refunds, including $600 million for Southwest Airlines' holiday meltdown in 2022.

Portfolio Pulse from Vandana Singh

June 04, 2024 | 2:06 pm

GME

GameStop Corp (NYSE:GME) shares are trading lower on Tuesday after a significant rally on Monday. The surge was driven by Keith Gill, also known as 'Roaring Kitty,' who posted a $116 million position update on Reddit. Gill's actions have led to discussions at E-Trade about potential market manipulation. GameStop is also set to report its first-quarter financial results on June 11, with expectations of a loss of 9 cents per share and revenue of $1.05 billion.

Portfolio Pulse from Adam Eckert

June 04, 2024 | 1:26 pm

GILD

Gilead Sciences has reached an agreement in principle to settle federal TDF litigation for up to $40 million. This settlement aims to resolve claims related to the company's TDF-based medications.

Portfolio Pulse from Benzinga Newsdesk

June 04, 2024 | 12:37 pm

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