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Tether, the world's largest stablecoin creator, is restructuring into four divisions to expand its focus beyond stablecoins. The divisions include Data, focusing on AI investments; Finance, managing the USDT stablecoin; Power, overseeing Bitcoin mining investments; and Education, for educational activities. This move comes amid criticisms of Tether's transparency and reports of USDT being used to fund war activities by a Russian operative. Tether reported $6.2 billion in profits in its 2023 annual report, with significant USDT usage in countries like Brazil and Nigeria.

Portfolio Pulse from Khyathi Dalal

April 18, 2024 | 3:40 pm

AGBA

AILE

LVS

SPCB

Las Vegas Sands Corp. (LVS) shares fell by around 7% despite reporting better-than-expected Q1 results, with earnings of 75 cents per share and sales of $2.96 billion. Other stocks also showed significant movement, with AGBA Group Holding Limited (AGBA) and Tian Ruixiang Holdings Ltd (TIRX) among the top gainers, while iLearningEngines Holdings, Inc. (AILE) and SuperCom Ltd (SPCB) led the losers.

Portfolio Pulse from Avi Kapoor

April 18, 2024 | 3:32 pm

META

Eduardo Saverin's $30K investment in Facebook, now Meta Platforms Inc. (META), led to significant personal wealth and influenced U.S. legislation. Saverin, a co-founder, became a billionaire when Facebook went public in 2012. His decision to renounce U.S. citizenship for tax reasons prompted Senator Chuck Schumer to propose the ex-PATRIOT Act, targeting individuals renouncing citizenship to avoid taxes. Saverin's initial investment is considered one of the best in modern history, with his net worth now at $26.9 billion.

Portfolio Pulse from Rounak Jain

April 18, 2024 | 2:34 pm

PRI

The Bear Cave published a report titled "Problems At Primerica (PRI)", indicating potential issues at the company. This could impact investor sentiment and the stock's performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 2:33 pm

SOUHY

TMQ

VMXXF

The Biden administration's plan to block the Ambler Road project in Alaska, which would have provided access to a mining district for copper and other minerals exploration, has drawn criticism from the mining industry, state officials, and some native groups. The decision is seen as a conflict between environmental protection and the need for domestic mineral sources for renewable energy. Companies like Trilogy Metals Inc. (TMQ) and South32 (SOUHY), part of the Ambler Metals joint venture, and Valhalla Metals Inc (VMXXF) are directly affected, expressing disappointment and considering legal options. The decision also highlights divisions among native tribes and concerns about economic development and environmental impacts.

Portfolio Pulse from Matt Whittaker

April 18, 2024 | 2:07 pm

LTBR

Ambassador Thomas Graham, Jr. is retiring as Executive Chairman and director of Lightbridge Corporation (NASDAQ:LTBR), an advanced nuclear fuel technology company, effective at the upcoming Annual Meeting of Shareholders. He has been appointed Chairman Emeritus. Graham's distinguished career in arms control and non-proliferation, alongside his contributions to nuclear energy, have been pivotal to Lightbridge's mission. Seth Grae, President & CEO, praised Graham's legacy and looks forward to his continued guidance in his new role.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 12:15 pm

TSLA

Tesla, Inc. (NASDAQ: TSLA) is seeking shareholder approval to reinstate CEO Elon Musk's previously invalidated $55 billion compensation plan for past work, facing legal and shareholder scrutiny. Legal expert Ann Lipton suggests the proposal, deemed as unnecessary and potentially wasteful, may require unanimous shareholder approval. Despite challenges, including Tesla's financial underperformance, some analysts and investors support the plan. Tesla's stock showed a slight increase in premarket trading.

Portfolio Pulse from Shanthi Rexaline

April 18, 2024 | 10:21 am

ALK

Air Group's Q1 operations and financial results were significantly impacted by Flight 1282 and the grounding of the Boeing 737-9 MAX. The company received $162 million in compensation from Boeing for the financial damages incurred.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 9:25 am

BA

U.S. Senator Ron Johnson emphasized the importance of Boeing Co.'s success and safety in aviation following a whistleblower's revelations about the 787 Dreamliners. The aerospace giant faces challenges as it prepares for its Q1 earnings report and the appointment of a new CEO, amidst a 32% stock decline year-to-date. Boeing's potential deal with NASA and the Starliner project may offset its airplane segment's weaknesses.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 5:57 am

AMZN

GOOG

GOOGL

Alphabet Inc's Google has fired 28 employees for protesting against its involvement in Project Nimbus, a $1.2 billion Israeli government cloud contract, also involving Amazon.com Inc. The protests, organized by the 'No Tech for Apartheid' group, took place in Google's New York and California offices, leading to the arrest and subsequent firing of the employees. Google's head of global security, Chris Rackow, emphasized the company's zero-tolerance policy towards such disruptive behavior.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 4:33 am