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The Biden administration's upcoming report will not conclude that Israel violated U.S. weapons agreement terms despite being critical of Israel's actions in Gaza. This decision follows seven months of conflict in Gaza, resulting in nearly 35,000 Palestinian casualties. The report, prompted by a presidential directive, assesses Israel's use of U.S.-provided military aid amidst pressure from congressional Democrats.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 4:27 pm

FAT

Fat Brands and its Chair Andy Wiederhorn have been indicted on charges related to an alleged loan scheme, causing the company's shares to trade lower.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:58 pm

FAT

FAT Brands has announced its intention to defend itself vigorously while seeking a just resolution to unspecified charges. The company's statement indicates a proactive approach to legal challenges, emphasizing its commitment to resolving the issues at hand.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:56 pm

FAT

FAT Brands Inc. has been indicted on two violations of SOX 402, related to arranging $2.65 million in loans to Andy Wiederhorn. The company describes these charges as unprecedented and unjust, highlighting that the alleged conduct ended over three years ago and that the company has cooperated with the investigation. FAT Brands intends to defend itself vigorously while seeking a fair resolution. Despite the legal challenges, FAT Brands emphasizes its significant growth and commitment to its operating plans and growth strategy.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:55 pm

TSLA

Tesla Inc's Gigafactory in Berlin faced protests from climate activists concerned about forest clearance for factory expansion. The factory preemptively shut down, with Tesla CEO Elon Musk questioning why protestors weren't jailed. Despite attempts, protestors did not breach the factory's defenses. Tesla plans to continue its expansion, with local officials having the final say. The factory closure included a national holiday, with operations expected to resume Monday.

Portfolio Pulse from Chris Katje

May 10, 2024 | 3:48 pm

FAT

Fat Brands and its chair, Andy Wiederhorn, have been indicted in a $47 million 'sham' loan scheme. The indictment includes charges of wire fraud, tax evasion, and other counts. The SEC has also filed a civil complaint for related violations. Wiederhorn's fraudulent activities reportedly accounted for 44% of Fat Brands' revenue from 2017 to 2021, impacting the company's ability to pay bills. The scheme involved undisclosed cash transfers and personal expenditures by Wiederhorn, funded by the company.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:44 pm

BA

ValveTech, a NASA contractor, has warned against the imminent launch of Boeing's Starliner rocket due to safety concerns related to a valve issue. The warning follows a scrubbed launch on May 6 due to the same issue. ValveTech's concerns also extend to a legal dispute where Boeing was found to have used a valve from Aerojet Rocketdyne, allegedly breaching non-disclosure agreements and raising questions about the valve's qualifications.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 3:33 pm

TSLA

Climate protesters attempted to break into Tesla's factory in Germany, leading to multiple arrests. The incident highlights the ongoing tension between environmental activists and the electric vehicle manufacturer.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:43 pm

AMZN

CART

DASH

UBER

WMT

Uber Technologies Inc (NYSE:UBER) reported a mixed Q1 with revenue growth but an unexpected loss due to legal issues. Revenue grew 15% to $10.13 billion, slightly above estimates, but net loss widened to $654 million. Mobility and delivery segments showed growth, but freight contracted. Uber forecasts higher gross bookings for Q2. Instacart (NASDAQ:CART) announced restaurant delivery through Uber Eats, competing with DoorDash (NASDAQ:DASH), Amazon.com (NASDAQ:AMZN), and Walmart (NYSE:WMT). Instacart reported an 8% revenue growth and a net income of $130 million.

Portfolio Pulse from Upwallstreet

May 10, 2024 | 12:35 pm

NOTV

Inotiv has rescheduled its earnings announcement to allow additional time for completing accounting analyses related to certain matters. The company is also cooperating with the Department of Justice (DOJ) and other authorities in relation to an investigation.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 12:14 pm