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TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), initiated a poll on Twitter asking if Tesla should change its state of incorporation from Delaware to Texas after a Delaware judge struck down his $56 billion pay package. The judge ruled in favor of a shareholder lawsuit claiming the board breached fiduciary duties by awarding Musk the package in 2018. Musk criticized the ruling and suggested incorporating in Nevada or Texas instead. The poll showed 89.7% support for Texas incorporation. The decision can be appealed in the Delaware Supreme Court.

Portfolio Pulse from Anan Ashraf

January 31, 2024 | 3:43 am

MSFT

Microsoft Corporation's (NASDAQ:MSFT) top executives' email accounts were hacked by a Russian Intelligence group, as revealed in a regulatory filing. CEO Satya Nadella has called for a 'Geneva convention around cyber' in response to nation-state cyberattacks, emphasizing the need for the U.S., Russia, and China to establish cyber norms. Microsoft confirmed that the breach was not due to vulnerabilities in their products or services.

Portfolio Pulse from Ananya Gairola

January 31, 2024 | 3:31 am

AMD

AMZN

GOOGL

MSFT

TSLA

U.S. stock indices showed mixed results with the Dow Jones up, while the S&P 500 and Nasdaq fell. Microsoft's stock declined slightly despite strong Q2 earnings and its Activision Blizzard acquisition. AMD's stock dropped ahead of its Q4 earnings, with high expectations from its diverse business segments. Alphabet's shares fell even though Q4 revenue exceeded estimates, driven by Search, YouTube, and Cloud services. Amazon's stock decreased amid customer dissatisfaction over ads in Prime Video. Tesla's shares rose slightly, but a court ruling voided Elon Musk's $55-billion compensation plan, potentially affecting his net worth and stake in the company.

Portfolio Pulse from Benzinga Neuro

January 31, 2024 | 2:44 am

TSLA

A Delaware judge voided Elon Musk's $55-billion compensation plan, which was challenged by a Tesla shareholder for lack of proper investor disclosures. Tesla's board must now propose a new compensation plan for Musk. This ruling could affect Musk's status as the world's richest person, potentially dropping his net worth and ranking. Tesla shares fell 2% in after-hours trading.

Portfolio Pulse from Chris Katje

January 30, 2024 | 10:19 pm

TSLA

A Delaware judge has ruled in favor of plaintiffs challenging Elon Musk's $56 billion compensation package from Tesla, potentially impacting the validity and structure of the package.

Portfolio Pulse from Charles Gross

January 30, 2024 | 9:46 pm

JBLU

SAVE

JetBlue Airways Corporation's CEO, Robin Hayes, expressed disagreement with a court ruling that blocked the proposed $3.8 billion merger with Spirit Airlines, Inc. The companies are seeking an expedited appeal before the merger agreement's outside closing date of July 24. JetBlue reported its Q4 earnings and reiterated commitment to the Spirit deal terms. JetBlue's stock (JBLU) closed down 4.73%, while Spirit's stock (SAVE) closed up 5.8% on Thursday.

Portfolio Pulse from Erica Kollmann

January 30, 2024 | 9:14 pm

ZFOX

ZeroFOX, a cybersecurity company, has been granted U.S. Patent# 11888873 for a method of attack surface identification. This patent covers a system that identifies potential security threats by analyzing data from various sources. The technology aims to enhance cybersecurity measures by proactively detecting vulnerabilities.

Portfolio Pulse from Charles Gross

January 30, 2024 | 7:43 pm

VNDA

A court has ordered the FDA to resolve Vanda Pharmaceuticals' request for a hearing on its jet lag drug by March 5, 2024. The case underscores flaws in the FDA's drug-approval process and highlights the agency's failure to make timely decisions, which hampers medical innovation and delays patient access to new treatments.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 5:38 pm

EIS

USO

A senior Hamas leader has indicated that a proposed ceasefire includes a three-stage process, with the first stage involving the release of civilians such as women, children, adults, and patients.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 3:23 pm

C

New York State Attorney General Letitia James has filed a lawsuit against Citibank for its alleged failure to protect customers from electronic fraud and for not reimbursing victims as required by law. The lawsuit claims that Citibank's practices have resulted in significant financial losses for consumers and that the bank has violated the Electronic Fund Transfer Act by not properly investigating fraud claims or refunding unauthorized transactions.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 3:03 pm