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RDFN

Redfin has agreed to a proposed settlement of $9.25 million to resolve the nationwide class action litigation, Gibson v. NAR, No. 4:23-cv-00788. The settlement requires Redfin to pay into a Qualified Settlement Fund within 30 days following the court's preliminary approval of the settlement agreement, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:38 pm

HOOD

Robinhood Crypto, a subsidiary of Robinhood Markets, Inc. (HOOD), received a Wells Notice from the SEC on May 4, 2024, indicating a preliminary determination to recommend enforcement action for alleged violations of securities laws. This follows investigative subpoenas regarding cryptocurrency listings, custody, and platform operations. The SEC's action could include a range of remedies such as injunctions, penalties, and limitations on activities.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:33 pm

EFSH

1847 Holdings has engaged Shareholder Intelligence Services to investigate potentially improper and illegal trading activity in its common stock, aiming to protect shareholder interests and ensure fair trading practices.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:20 pm

SBOW

SilverBow Resources has urged shareholders to vote for its director nominees, highlighting its strong Q1 financial results, debt reduction, and value from acquisitions. The company criticizes Kimmeridge Energy's attempt to merge with SilverBow, calling it dilutive and value-destructive. SilverBow boasts a 484% shareholder return since 2021, outperforming the XOP index. It also details the experience of its board members and the lack of experience among Kimmeridge's nominees.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 12:19 pm

COIN

Six Coinbase customers have filed a class action lawsuit against Coinbase Global, Inc. (NASDAQ:COIN), accusing it of selling unregistered securities and violating state and federal securities laws. The lawsuit, filed in the Northern District of California, also names CEO Brian Armstrong and several subsidiaries as defendants. The plaintiffs allege Coinbase misled customers about its regulatory compliance, lacking necessary broker-dealer registrations.

Portfolio Pulse from Murtuza Merchant

May 06, 2024 | 12:08 pm

AMKBY

A. P. Moller Maersk (OTC:AMKBY), the world's largest container shipping company, announced that disruptions in the Red Sea, caused by attacks from Iran-aligned Houthi militants, are expected to reduce the shipping industry's capacity between the Far East and Europe by 15%-20% in Q2. These disruptions have forced vessels to reroute, leading to longer journey times and increased freight rates. Maersk has leased over 125,000 additional containers to enhance reliability and address the capacity shortage, with disruptions likely to persist until the end of the year.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 9:18 am

GOOGL

TSLA

Texas Governor Greg Abbott's anti-immigration measures along the Texas-Mexico border have led to significant environmental degradation, particularly in Eagle Pass. The construction of a new $170 million facility, Camp Eagle, for Texas National Guards, as part of Operation Lone Star, has exacerbated the situation, costing over $11 billion. The environmental damage has sparked concerns among residents and environmentalists. Meanwhile, tech leaders like Sundar Pichai of Alphabet Inc. and Elon Musk of Tesla Inc. have called for updated U.S. immigration policies to attract AI and tech talent, highlighting the broader implications of immigration policies.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 6:03 am

TSLA

Leo KoGuan, a major individual shareholder of Tesla Inc. (NASDAQ:TSLA), criticized CEO Elon Musk's compensation package and urged shareholders to vote against it. KoGuan, who invested $3.5 billion in Tesla for a 0.8% stake, labeled Musk's request for more voting control as a 'robbery attempt.' The criticism follows a Delaware judge's decision to invalidate Musk's 2018 compensation package. Tesla is set to hold an investor vote on Musk's pay plan during its Annual Shareholder Meeting on June 13.

Portfolio Pulse from Benzinga Neuro

May 06, 2024 | 3:19 am

AAPL

AMZN

GOOG

META

MSFT

NTDOF

PLTR

SONY

TSLA

UBSFF

Last week in consumer tech saw Amazon's Q1 FY24 sales surpass expectations, Microsoft and Sony enhancing gaming offerings, Ubisoft and Nintendo announcing new game details, and Apple facing challenges with iPhone sales and AI advancements. Elon Musk criticized Meta and highlighted X's design overhaul. Palantir's CEO made controversial remarks, and the EU considered a TikTok ban. Amazon's AI business achieved a multibillion-dollar revenue rate, while Apple teased future AI developments.

Portfolio Pulse from Lekha Gupta

May 06, 2024 | 2:41 am

HIMS

Hims & Hers Health Inc. (NYSE:HIMS) stock dropped 8% after CEO Andrew Dudum expressed support for pro-Palestinian protesters, causing controversy. The stock slightly recovered by 0.89% in after-hours trading. Dudum's comments on X (formerly Twitter) have drawn criticism from notable figures. Prior to this, the company had bullish investor sentiment and a positive analyst outlook, but this incident could affect future projections.

Portfolio Pulse from Bibhu Pattnaik

May 05, 2024 | 3:01 pm