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AAL

IYT

JETS

LUV

UAL

The U.S. Transportation Department's Office of Inspector General announced an audit of the FAA's oversight of United Airlines Holdings Inc. (UAL) maintenance operations, following several incidents. This audit is part of a series evaluating the FAA's maintenance oversight at major airlines, including Southwest Airlines Co. (LUV) and American Airlines Group Inc. (AAL). The FAA has restricted United from adding new aircraft or initiating service to new cities during the review. United Airlines' stock is accessible through U.S. Global Jets ETF (JETS) and iShares U.S. Transportation ETF (IYT).

Portfolio Pulse from Shivani Kumaresan

May 09, 2024 | 6:29 pm

AAPL

AMZN

GOOG

GOOGL

META

The antitrust trial against Alphabet Inc (GOOG/GOOGL) has concluded, with a decision expected by year-end. The case, initiated by the Justice Department and 11 states in 2020, accuses Google of anti-competitive practices to maintain its search engine dominance, notably through payments to companies like Apple (AAPL) for default search engine status. The outcome could influence broader antitrust actions against big tech, including Amazon (AMZN) and Meta Platforms (META). Possible penalties for Google could range from breaking up the company to ending exclusivity agreements.

Portfolio Pulse from Natan Ponieman

May 09, 2024 | 6:21 pm

CPOP

DUOL

EMKR

SEZL

SGD

TIVC

Duolingo shares fell by 18% after reporting Q1 financial results, despite beating analyst estimates for earnings and sales. The company's Q2 and full-year revenue forecasts were slightly below estimates. Other stocks showed significant movement, with notable gainers including Pop Culture Group, Sezzle Inc., and Safe and Green Development, among others. Losers included Tivic Health Systems, EMCORE Corporation, and CytomX Therapeutics, with various reasons such as public offerings, mixed financial results, and clinical study data.

Portfolio Pulse from Avi Kapoor

May 09, 2024 | 5:57 pm

EQIX

Hindenburg Research accuses Equinix of extensive accounting manipulation, despite the company's claim of exoneration from an 'independent investigation'. Hindenburg criticizes the financials Equinix reported as 'plainly bogus', casting doubt on the company's financial integrity.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 5:36 pm

RMAX

RE/MAX Holdings has received final approval for a settlement agreement in antitrust class action lawsuits. The company has agreed to pay $55M into a Qualified Settlement Fund but does not expect this settlement to materially impact its operations or cash flows.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 5:06 pm

SPR

A key UK supplier for Boeing has issued a warning against the potential dismantling of Boeing's historic Belfast facility, emphasizing the negative impacts such a move could have on the supply chain and local economy.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 4:41 pm

UAL

The U.S. Office of Inspector General for the Department of Transportation will audit the FAA's oversight of United Airlines' maintenance operations, according to Bloomberg.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 2:46 pm

NSC

Norfolk Southern Corporation (NYSE:NSC) shareholders voted to retain CEO Alan Shaw, rejecting an activist investor's plan for a management overhaul. Ancora Holdings criticized Norfolk's performance and response to a train derailment, seeking board control and CEO replacement. Despite this, Shaw and 10 other nominees were elected to the board, alongside three Ancora nominees. NSC shares dropped 2.9% following the vote.

Portfolio Pulse from Nabaparna Bhattacharya

May 09, 2024 | 2:37 pm

ALK

Boeing Co faces another setback as a Boeing 737-300 aircraft, operated by Transair for Air Sénégal, crashed during takeoff in Senegal, injuring 11. This adds to Boeing's recent troubles, including regulatory scrutiny after a door panel incident on an Alaska Air flight and whistleblower complaints. Boeing's shares dropped 0.30% in premarket trading.

Portfolio Pulse from Akanksha Bakshi

May 09, 2024 | 1:15 pm

NSC

Preliminary voting results from the 2024 Annual Meeting indicate that Ancora has successfully secured board seats for its nominees, signaling a significant shift in leadership and strategy for the company. Shareholders showed a lack of support for current board members including Amy Miles, Jennifer Scanlon, and John Thompson, and CEO Alan Shaw received a vote of no confidence with barely 50% support. This development underscores Ancora's ongoing campaign for changes at the company, especially in light of the upcoming government report on the East Palestine derailment and toxic burn.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 12:55 pm