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SYY

Sysco Corporation (NYSE:SYY) announced Kevin Hourican's appointment as Chair of the Board, succeeding Edward D. Shirley who stepped down due to health reasons. Hourican will retain his CEO role, emphasizing the company's resilience and strategic growth. Larry Glasscock is appointed Lead Independent Director, with John Hinshaw taking over his previous role in the Corporate Governance and Nominating Committee.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:03 pm

RIVN

Rivian Automotive Inc.'s (NASDAQ:RIVN) Illinois plant experienced its second fire accident in a week, causing damage to a semitrailer and the building's exterior. The fire led to a temporary evacuation due to air quality concerns. This incident follows another fire that occurred under a conveyor belt in the plant. Rivian's shares were down 1.4% in Tuesday's premarket hours. The company's plans for a new plant in Georgia are currently on hold to cut costs.

Portfolio Pulse from Anan Ashraf

April 30, 2024 | 11:08 am

AMGN

SDZNY

Sandoz and Amgen have settled all patent litigation concerning Sandoz's denosumab biosimilars in the US, paving the way for the launch of Jubbonti and Wyost on or before May 31, 2025. These are the first FDA-approved biosimilars interchangeable with Prolia and Xgeva, expected to enhance Sandoz's biosimilar portfolio and growth strategy.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 7:56 am

META

Elon Musk has criticized Meta Platforms, Inc. (NASDAQ:META) for allegedly taking credit for traffic originating from his platform, X (formerly Twitter). This criticism follows a lawsuit in Japan against Meta for not verifying ad authenticity, highlighting ongoing issues with Meta's advertising system. Musk also mentioned a personal dissatisfaction with community notes on X, using it to emphasize the platform's efforts in ad verification. Amidst these challenges, Musk has invited advertisers to return to X, pointing out Meta's advertising system glitches and its impact on advertisers.

Portfolio Pulse from Ananya Gairola

April 30, 2024 | 4:40 am

META

SNAP

European Commission President Ursula von der Leyen indicated that a TikTok ban in the EU is possible, following the U.S. where President Biden signed a bill potentially banning TikTok unless ByteDance sells it. The EU has already banned TikTok on corporate phones due to security concerns. This comes as TikTok faces investigations under the EU's Digital Services Act. Observers note that a ban could benefit TikTok's competitors, such as Meta Platforms, Inc. (META) and Snap Inc. (SNAP), which have ties to U.S. Congress members.

Portfolio Pulse from Ananya Gairola

April 30, 2024 | 1:39 am

FOXA

Hunter Biden has demanded Fox News and FOX Corp. (NASDAQ:FOXA) to remove explicit images from its platforms, alleging defamation and violation of 'revenge porn' laws. The demand includes corrections and retractions related to claims of a bribery scheme involving Hunter Biden and President Joe Biden. Hunter Biden's legal team is considering suing Fox News and has criticized the network for airing a mock trial and publishing articles based on unproven allegations.

Portfolio Pulse from Benzinga Neuro

April 30, 2024 | 1:05 am

PARA

PARAA

Matrix Asset Advisors President & CIO commented on the departure of Paramount Global's CEO, stating that Bakish was removed for advocating for all shareholders instead of favoring a deal beneficial only to Shari Redstone, to the detriment of the other 90% of shareholders.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 9:07 pm

WT

WisdomTree, Inc. outlines its performance, recent milestones, and growth strategy in a letter to stockholders ahead of the 2024 Annual Meeting. The company highlights a 40% stock price increase over the past year, surpassing its 5-year high, and a market capitalization increase of approximately $200 million since the 2023 annual meeting. WisdomTree reports record AUM of $107.2 billion as of March 31, 2024, and significant revenue growth. The letter also addresses the company's expansion into digital assets and blockchain-enabled finance, including the launch of WisdomTree Prime and a Visa Debit Card. It refutes claims made by dissident stockholder Graham Tuckwell, emphasizing the board's support for the current strategic plan and vision. WisdomTree urges stockholders to vote "FOR" all directors to continue its growth trajectory.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:41 pm

NSC

Norfolk Southern CEO Alan Shaw expressed disagreement with Glass Lewis' decision to side with activist investor Ancora, as reported by CNBC.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:31 pm

TSLA

The U.S. Supreme Court declined Elon Musk's appeal to remove a provision from a 2018 SEC settlement, which restricts his social media posts about Tesla. This provision, part of a settlement where Musk and Tesla each paid $20 million, requires Musk to get approval for posts about Tesla on platforms like X (formerly Twitter). The decision comes amid Tesla's stock price increase and Musk's recent visit to China.

Portfolio Pulse from Chris Katje

April 29, 2024 | 8:30 pm