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SPR

Joshua Dean, a former quality auditor at Spirit AeroSystems and Boeing whistleblower, died from a severe infection. Dean had raised concerns about production defects at Spirit AeroSystems, which manufactures parts for Boeing, and was fired in 2022. His death follows another Boeing whistleblower's death by alleged suicide two months prior. Dean had filed complaints with the FAA and the Department of Labor regarding his termination and safety concerns. His case was pending at the time of his death.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:24 pm

EIS

ISRA

SPY

USO

President Biden stated that the National Guard should not intervene in campus protests, affirming no change in Middle East policy due to these protests. He emphasized the importance of upholding both the rule of law and freedom of speech.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:13 pm

IDCC

Interdigital's stock price increased following the announcement of Q1 financial results surpassing expectations, along with optimistic Q2 and FY24 adjusted EPS guidance. Additionally, the company secured a court injunction against Lenovo in Germany.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:12 pm

TD

TD Bank has been fined C$9.2 million by Canadian regulators for failing to comply with the country's money-laundering laws. The bank did not submit suspicious transaction reports, properly assess and document financing risks, among other failings.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 3:05 pm

PXD

XOM

Pioneer Natural Resources (PXD) has responded to a complaint by the FTC regarding its proposed merger with ExxonMobil (XOM), specifically addressing concerns about Mr. Sheffield's eligibility to serve on ExxonMobil's Board. Despite the FTC's complaint, Pioneer and Mr. Sheffield are proceeding with the merger, prioritizing the interests of investors, employees, and the U.S. energy sector.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 1:36 pm

BP

CVX

SHEL

XOM

Rep. Jamie Raskin criticized the petroleum industry for deceiving the public about climate change, hindering progress on addressing the crisis. During a Senate Budget Committee hearing, Raskin highlighted a report from a three-year investigation into the industry's evasion of climate responsibility, naming Exxon, Chevron, Shell, and BP among those obstructing the investigation. This comes as the world shifts away from fossil fuels, aiming for a 'net zero' carbon emissions target by 2050.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 1:26 pm

FPX

MILN

UBER

Uber Technologies, Inc (NYSE:UBER) faces a lawsuit from over 10,500 London black-cab drivers, claiming $312.90 million in damages for unlawfully securing a license in 2012, leading to business loss for traditional taxi operators. Despite past controversies, including a license renewal refusal in 2017 and a reclassification of UK drivers in 2021, Uber plans to integrate black cabs into its platform by 2024. Analysts remain optimistic about Uber's growth, considering it undervalued with superior bookings and EBITDA growth. Uber's stock has gained 86% in the last 12 months, and it is featured in the First Trust US Equity Opportunities ETF (NYSE:FPX) and Global X Millennial Consumer ETF (NASDAQ:MILN).

Portfolio Pulse from Anusuya Lahiri

May 02, 2024 | 1:03 pm

TSLA

S&P lowered Tesla's governance score due to concerns over Elon Musk's dominant role and key-person risk, despite affirming its 'BBB' credit rating. The downgrade was influenced by Musk's significant influence, the company's lawsuit exposures, and board ineffectiveness. S&P suggests increasing board independence to mitigate risks. Despite these governance concerns, Tesla's strong market position and liquidity were highlighted, with expectations of sustained EBITDA margin strength. Tesla's price cuts to maintain market share, efficiency improvements, and strategic initiatives like supercharger network access and software licensing are expected to support its competitive advantage.

Portfolio Pulse from Anan Ashraf

May 02, 2024 | 1:00 pm

GOOGL

MSFT

An internal Microsoft email revealed concerns about lagging behind Google's AI capabilities, prompting investment in OpenAI. The email, part of a Justice Department antitrust case, highlights Microsoft's efforts to catch up in AI technology. Microsoft's CEO Satya Nadella emphasized the investment was aimed at broader innovation, not just search. The case sheds light on the competitive AI landscape, with Microsoft leveraging OpenAI's technology to enhance its products and Google facing challenges with its AI chatbot, Bard.

Portfolio Pulse from Ananya Gairola

May 02, 2024 | 12:53 pm

CB

Chubb (NYSE:CB) faces a record shipping insurance loss with a $350 million payout due to the Baltimore bridge collapse. This incident could lead to total insurance costs of $4 billion, marking a significant event in shipping insurance history. The collapse, caused by a Singapore-flagged container ship, has disrupted supply chains and prompted investigations into the ship's operations.

Portfolio Pulse from Benzinga Neuro

May 02, 2024 | 12:50 pm