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Legal

SPY

VGK

U.S. Senator Elizabeth Warren has raised concerns with the Pentagon about the unauthorized use of Starlink internet terminals by Russian troops in Ukraine, labeling it a significant national security threat. She highlighted a black market that facilitates the distribution of these terminals to U.S. adversaries, including in Ukraine and Sudan.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 4:49 pm

SBFM

Sunshine Biopharma announced the dismissal of Borgers as its independent accountant following Borgers' settlement with the SEC.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 4:22 pm

CVX

XOM

Exxon Mobil's CEO, Darren Woods, announced on CNBC that he anticipates the arbitration with Chevron to extend into 2025.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:55 pm

TCNNF

The Florida GOP has officially opposed a marijuana legalization initiative, enabling Governor Ron DeSantis to fundraise for a campaign against it. DeSantis argues that legalization would worsen the state by increasing marijuana presence and is motivated by profit for certain individuals. Despite opposition, economic analysts predict the initiative could generate significant sales tax revenue. Trulieve, a major medical cannabis company, has been the primary financial supporter of the initiative, contributing significantly towards its campaign.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:54 pm

RTX

SAVE

A Spirit Airlines executive mentioned during a conference call that the airline could conclude 2025 with approximately 70 aircraft grounded due to issues with Pratt & Whitney engines.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:44 pm

DJT

SPY

Justice Juan Merchan found Donald Trump in criminal contempt for the tenth time, warning of potential jail time in future instances. This development is part of ongoing legal challenges facing the former president.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:37 pm

VGK

Russia has indicated it may target British military facilities located in Ukraine as a response to Ukraine's strikes using British weapons, according to statements from the Foreign Minister cited by Reuters. This development could escalate tensions between Russia and the UK, and potentially impact the geopolitical landscape in the region.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:30 pm

LYRA

Lyra Therapeutics Inc (NASDAQ:LYRA) stock plummeted 93% to $0.30 after announcing its Phase 3 ENLIGHTEN 1 trial for LYR-210 in chronic rhinosinusitis failed to meet its primary endpoint. Despite some improvements in secondary measures, the trial's main goal was not achieved. The company plans operational changes and workforce reductions to conserve cash. Over the past year, LYRA shares have fallen 88.24%, with a significant drop of 93.98% in the last month. The stock's all-time high was $9.43, indicating a potential upside of 2972.66% from current levels. The stock is considered oversold, with an RSI of 20.68.

Portfolio Pulse from Henry Khederian

May 06, 2024 | 1:25 pm

MULN

Mullen Automotive, Inc. (NASDAQ: MULN), an electric vehicle manufacturer, announced the adoption of a limited duration stockholder rights plan, effective immediately and expiring on May 1, 2025. This Rights Plan aims to ensure fair and equal treatment of all stockholders, protect the company from control attempts without a premium, and is not a financing transaction. No new shares or convertible securities are being issued in connection with this plan.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 1:05 pm

HOOD

Robinhood expressed disappointment after the SEC issued a 'Wells Notice', indicating potential regulatory action. The company firmly believes that the assets listed on its platform are not securities, suggesting a disagreement with the SEC's stance.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:46 pm