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DIS

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PARA

Scottie Scheffler, the world number-one golfer, was arrested outside the Valhalla Golf Club in Louisville, Kentucky, but was released in time to continue playing in the PGA Championship. Despite the arrest, Scheffler's betting odds remain strong, with support from notable figures like Dave Portnoy. The incident could boost viewership for the tournament, which is being broadcast by ESPN and CBS.

Portfolio Pulse from Chris Katje

May 17, 2024 | 3:51 pm

BNTX

MRNA

PFE

Moderna has won a case at the European Patent Office in its dispute with Pfizer and BioNTech over its Covid-19 vaccine, boosting its legal fight to recoup pandemic profits. The EPO upheld the validity of one of Moderna's key patents, which could influence ongoing litigation in various European courts.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 3:48 pm

GM

General Motors (GM) and LG Energy Solution have agreed to establish a $150 million fund to support Chevrolet Bolt EV owners impacted by faulty batteries. This settlement aims to provide financial relief to affected vehicle owners and resolves class action litigation linked to battery recalls. GM shares traded lower by 0.11% following the news.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 2:43 pm

TSLA

A legal expert and former portfolio manager, Lawrence Fossi, has criticized Tesla's (NASDAQ:TSLA) move to reinstate CEO Elon Musk's 2018 compensation plan, which was voided by a Delaware court. Fossi argues that a new compensation plan would result in massive losses for Tesla and be nearly impossible for Musk to achieve. He also suggests that Musk might be hesitant about a new plan due to the difficulty in replicating past stock price gains. Tesla's stock remains significantly below its all-time high, and the company is urging shareholders to vote for the reinstatement of Musk's 2018 award at the upcoming annual meeting.

Portfolio Pulse from Shanthi Rexaline

May 17, 2024 | 9:15 am

BA

Boeing shareholders are set to vote on the board status of outgoing CEO Dave Calhoun during the company's AGM. The vote comes amid multiple crises, including investigations and production declines. Proxy advisors have urged shareholders to vote against Calhoun's reelection. The outcome of the vote and the selection of Calhoun's successor are critical for Boeing's future.

Portfolio Pulse from Benzinga Neuro

May 17, 2024 | 6:31 am

META

NKE

Barbara Furlow-Smiles, a former diversity manager at Facebook and Nike, has been sentenced to over five years in prison for a $5 million fraud scheme. She embezzled over $4.9 million from Facebook and continued her fraudulent activities at Nike, stealing another six-figure sum. She has been ordered to pay restitution to both companies.

Portfolio Pulse from Benzinga Neuro

May 17, 2024 | 5:51 am

AMAT

GME

RDDT

TSLA

TTWO

The Dow Jones Industrial Average surpassed 40,000 points, marking a historic milestone. Key stocks on investors' radars included Reddit, GameStop, Take-Two Interactive, Applied Materials, and Tesla. Reddit announced a partnership with OpenAI, GameStop saw a significant drop due to short-seller activity, Take-Two and Applied Materials reported strong financial results, and Tesla faced a proposed class-action lawsuit.

Portfolio Pulse from Benzinga Neuro

May 17, 2024 | 3:06 am

BHR

Blackwells Capital LLC, a shareholder of Braemar Hotels & Resorts Inc., has issued a response to Braemar's Chairman Monty J. Bennett's campaign, addressing attacks on Blackwells' track record as an advocate for public company shareholders.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 9:29 pm

GIL

Browning West announced the dismissal of all lawsuits brought by Gildan Activewear's board. Both the Quebec Superior Court and the Financial Markets Administrative Tribunal found the lawsuits to be without merit. This dismissal is seen as a win for shareholder rights ahead of the May 28th annual meeting.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 8:47 pm

SONY

UMGNF

WMG

Sony Group Corp's Sony Music Group has warned AI companies and music streaming services against using its content for AI training without explicit authorization. This move aims to protect intellectual property and ensure rightful compensation for artists. Universal Music Group and Warner Music Group have also taken similar stances.

Portfolio Pulse from Shivani Kumaresan

May 16, 2024 | 6:18 pm