Streetbeat News

Legal

ESPO

FLUT

HERO

Flutter Entertainment Plc (NYSE:FLUT) shares initially traded lower in the premarket session on Friday following the announcement of CFO Paul Edgecliffe-Johnson's departure, but later reversed losses and traded higher. Rob Coldrake, the new CFO, will focus on the American market. The company is shifting its primary share listing from London to New York due to the growing U.S. market. Challenges include a revived shareholder lawsuit and a new tax on sports betting in Illinois. Flutter reported strong fiscal 2023 results with significant revenue and EBITDA growth. The stock has lost 4% in the last 12 months. Investors can also gain exposure to the sector via VanEck Video Gaming And ESports ETF (NASDAQ:ESPO) and Global X Video Games & Esports ETF (NASDAQ:HERO).

Portfolio Pulse from Anusuya Lahiri

May 31, 2024 | 1:53 pm

DJT

Trump Media & Technology Group shares are trading higher, reversing from an after-hours drop on Thursday after Donald Trump was found guilty on all counts of falsifying business records.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 12:21 pm

DJT

Trump Media & Technology Group Corp (NASDAQ:DJT) stock is trading lower following the conclusion of a criminal trial against its majority owner, Donald Trump, who was found guilty of 34 charges of falsified business records. Despite this, Trump retains significant support from wealthy Wall Street figures and can still run for president. The company reported disappointing first-quarter financial results and a decline in daily visits to its social networking site, Truth Social.

Portfolio Pulse from Anusuya Lahiri

May 31, 2024 | 11:49 am

BP

COP

IEO

WEEI

ConocoPhillips (NYSE:COP) has been granted the right by a Trinidad and Tobago court to enforce a $1.33 billion claim against Venezuela for past expropriations. This decision allows ConocoPhillips to seize compensation from joint gas projects with Trinidad. The company has been pursuing enforcement in various courts after winning arbitration awards against Venezuela and its state oil company PDVSA. PDVSA had paid around $700 million but stopped payments in late 2019. ConocoPhillips is also involved in a Delaware case to auction shares in Citgo Petroleum’s parent firm to pay creditors. Additionally, BP p.l.c. (NYSE:BP) and Trinidad’s NGC received a two-year license from the U.S. Treasury to negotiate and develop gas fields with Venezuela.

Portfolio Pulse from Lekha Gupta

May 31, 2024 | 10:10 am

TSLA

Institutional Shareholder Services (ISS) has advised Tesla shareholders to vote against CEO Elon Musk's $56 billion pay package, calling it 'excessive.' ISS also recommended a vote against Tesla director James Murdoch but supported director Kimbal Musk and the company's proposed move to incorporate in Texas. This follows a similar recommendation by Glass Lewis last week.

Portfolio Pulse from Anan Ashraf

May 31, 2024 | 6:22 am

ADAUSD

BLK

SOLUSD

XRPUSD

Ripple CEO Brad Garlinghouse predicts the emergence of ETFs for XRP, Solana, and Cardano, following the approval of Bitcoin and Ethereum spot ETFs. He highlights regulatory challenges and criticizes the SEC's lack of clarity. Ripple's ongoing legal battle with the SEC could impact the approval process for an XRP ETF.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 5:57 am

SPOT

Spotify Technology SA (NYSE:SPOT) will refund customers who purchased its Car Thing dashboard accessory before deactivating the devices in December 2024. This decision follows a class action lawsuit and comes after a challenging year for Spotify, which included price increases, layoffs, and a 20% revenue growth in Q1 2024.

Portfolio Pulse from Ananya Gairola

May 31, 2024 | 5:16 am

TSLA

Elon Musk has denied any discussions about taking on a role in a potential Donald Trump administration. Despite media speculation, Musk clarified on X that there have been no talks about him joining a Trump presidency. The news comes amid reports of Musk advising Trump on crypto policy and their ongoing interactions.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 1:42 am

DJT

Former President Donald Trump has been found guilty on 34 counts of falsifying business records. Manhattan District Attorney Alvin Bragg has not disclosed whether prosecutors will pursue jail time. The political and legal ramifications are significant, with potential impacts on Trump's future and related entities. Trump Media & Technology Group (NASDAQ:DJT) shares fell over 6% in after-hours trading following the verdict.

Portfolio Pulse from Benzinga Neuro

May 31, 2024 | 12:35 am

DJT

Former President Donald Trump was found guilty on all 34 counts in a criminal trial. Trump proclaimed his innocence and criticized the trial as rigged. The verdict has sparked reactions from various political figures. Shares of Trump Media & Technology (NASDAQ:DJT) fell 8% in after-hours trading following the verdict.

Portfolio Pulse from Chris Katje

May 30, 2024 | 10:25 pm