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XOM

Exxon Mobil Corporation (XOM) and its consortium partners, including Hess Corp (HES) and CNOOC Ltd., face an October deadline to decide on the development of a large natural gas find off the coast of Guyana. The Guyanese government is pressing for development or relinquishment of 20% of the Stabroek block if it remains undeveloped. Exxon is currently appraising the gas findings and considering commercialization options. The consortium's exploration agreement runs through 2027. Additionally, Norway's sovereign wealth fund plans to vote against the reappointment of Exxon's lead independent director due to a lawsuit against climate activist investors.

Portfolio Pulse from Lekha Gupta

May 24, 2024 | 3:42 pm

EIS

The International Court of Justice (ICJ) has mandated Israel to halt its military operations in Rafah, Gaza, following accusations of genocide. This ruling, requested by South Africa, challenges Prime Minister Benjamin Netanyahu's policies and could harm Israel's international reputation. The ICJ also emphasized the need for unimpeded access for investigators into Gaza. Despite the binding nature of ICJ rulings, enforcement remains uncertain. The ruling may increase diplomatic pressure on Israel and its allies, particularly the U.S. The iShares MSCI Israel ETF (NYSE:EIS) saw a slight rebound after the news.

Portfolio Pulse from Piero Cingari

May 24, 2024 | 2:35 pm

AAPL

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MSFT

OpenAI's ChatGPT has been found to fall short of the EU's data accuracy standards, according to a report by the EU's privacy watchdog. The report highlights concerns about the probabilistic nature of the system and its potential to generate biased or fabricated outputs. This finding is significant as the EU has been implementing stringent AI regulations, impacting tech giants like Microsoft, Apple, and Amazon.

Portfolio Pulse from Benzinga Neuro

May 24, 2024 | 2:26 pm

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Israeli minister Benny Gantz spoke with U.S. Secretary of State Blinken regarding the ICJ ruling on Rafah, as reported by Axios' Barak Ravid.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 2:23 pm

COR

UNH

Cencora has stated that there is no connection between the unauthorized activity at their company and the incidents at Change Healthcare or Ascension.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 2:04 pm

EIS

ISRA

Israel's Finance Minister Smotrich has responded to a World Court ruling, stating that demanding Israel to stop the war is equivalent to asking it to cease to exist. He emphasized that Israel will not agree to such demands.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 1:54 pm

SPY

The World Court has ordered Israel to ensure access to the Gaza Strip for investigators. This decision could have geopolitical implications and may affect market sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 1:32 pm

SCLX

Scilex Holding has sent a letter to the U.S. House of Representatives addressing concerns about market manipulation of its common stock.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 1:02 pm

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The U.S. House Committee on Agriculture approved an amendment to the new Farm Bill that would eliminate most hemp-derived products, including those with any level of THC. This amendment aims to close a loophole from the 2018 Farm Bill that allowed intoxicating hemp products like Delta-8 THC to be sold. The amendment has sparked a divide between the cannabis and hemp industries, with significant opposition from hemp advocates and some cannabis companies supporting stricter regulations.

Portfolio Pulse from Nina Zdinjak

May 24, 2024 | 12:59 pm

AMAT

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FTXL

TSM

Applied Materials Inc (NASDAQ:AMAT) is under scrutiny for potential violations of export restrictions to China, receiving subpoenas from the U.S. Department of Commerce, SEC, and U.S. Attorney’s Office. The company is under criminal investigation for allegedly shipping equipment to China's SMIC without export licenses. Despite these issues, AMAT's second-quarter revenue beat analyst expectations, and the stock has gained over 79% in the last 12 months. Investors can gain exposure to AMAT through ETFs like First Trust Nasdaq Semiconductor ETF (NASDAQ:FTXL) and Pacer BlueStar Engineering The Future ETF (NASDAQ:BULD).

Portfolio Pulse from Anusuya Lahiri

May 24, 2024 | 12:29 pm