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Legal

NSC

Norfolk Southern has agreed to a $600M settlement to resolve a class action lawsuit from the East Palestine derailment, covering claims within a 20-mile radius and personal injury claims within a 10-mile radius for participating residents.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 12:04 pm

CVX

IYE

TTE

XLE

Chevron Corporation (NYSE:CVX) has officially exited Myanmar's Yadana gas field, redistributing its 41.1% stake to PTT Exploration and Production and Myanma Oil and Gas Enterprise. This move comes after Chevron's 2021 announcement to leave Myanmar due to violence and human rights abuses following the 2021 coup. The Yadana field, a significant gas producer, has been a point of contention amid Myanmar's ongoing crisis. Chevron's exit aligns with its commitment to an orderly withdrawal, reflecting on international law and sanctions. Investors can track Chevron's performance through SPDR Select Sector Fund – Energy Select Sector (NYSE:XLE) and iShares U.S. Energy ETF (NYSE:IYE).

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 11:58 am

AAPL

Jim Cramer criticized Apple Inc. (NASDAQ:AAPL) for sending receipts for subscription services at odd hours, such as 3:50 a.m., suggesting it could lead to customers overlooking these emails. This critique comes amid broader scrutiny of Apple's services business, which faces potential legal and regulatory challenges. Apple's billing practices have been questioned by users, with some reporting being charged for subscriptions without receiving bills and difficulties in canceling subscriptions. Additionally, Apple is under investigation by the European Union for potential antitrust violations, alongside Meta Platforms Inc. and Alphabet Inc.'s Google.

Portfolio Pulse from Rounak Jain

April 09, 2024 | 11:42 am

SU

Suncor Energy Inc's (NYSE:SU) subsidiary Syncrude Canada pleads guilty to a charge under the Occupational Health and Safety Act, agreeing to pay C$390,000 for failing to ensure worker safety after a fatal incident in 2021. This is part of a series of incidents that led to management changes at Suncor, influenced by pressure from activist investors. Despite this, Suncor reports no deaths or life-threatening injuries in 2023, with a significant reduction in lost-time injuries.

Portfolio Pulse from Lekha Gupta

April 09, 2024 | 11:42 am

TSLA

Elon Musk, CEO of Tesla, reacted to a post by former GOP presidential candidate Vivek Ramaswamy, expressing concern over the security implications of the southern border situation. Ramaswamy warned of a potential '9/11-scale tragedy' due to illegal aliens with hostile intentions. Musk agreed, stating it's 'Only a matter of time.' Musk's stance on immigration is complex, criticizing some policies while advocating for easier processes for skilled workers.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 10:38 am

SQNS

Sequans Communications S.A. (NYSE:SQNS), a leader in 5G/4G IoT solutions, has reached standstill agreements with its main debt holders, Lynrock Lake, Nokomis, and Renesas, to delay the maturity of its debt obligations. This move aims to provide Sequans with time to negotiate a strategic transaction for a long-term solution.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 10:03 am

GM

General Motors Co's autonomous driving unit Cruise is reportedly preparing to resume robotaxi testing in Phoenix, Arizona, with safety drivers. This comes after operations were suspended following a pedestrian accident in San Francisco. GM reported a $3.48 billion operating loss at Cruise in 2023, but CEO Mary Barra reaffirmed the company's commitment to Cruise, indicating reduced spending but continued investment in self-driving technology.

Portfolio Pulse from Anan Ashraf

April 09, 2024 | 9:09 am

GOOG

GOOGL

Elon Musk criticized Alphabet Inc.'s Google Gemini AI for its 'politically correct' programming, suggesting it could be dangerous and doubting future versions would significantly deviate from this approach. Musk emphasized the need for AI regulation to keep pace with technological advancements to ensure safety. Google's Gemini AI faced controversy for inaccuracies and misrepresentations, leading to a temporary pause on its image generation feature.

Portfolio Pulse from Ananya Gairola

April 09, 2024 | 8:47 am

AAPL

Apple Inc. is proceeding with the settlement for the 'Batterygate' issue, inviting Canadian iPhone owners of specific models to claim their share. The lawsuit, settled for $14.4 million, accused Apple of intentionally slowing down older iPhones. Eligible users can receive between CA$17.50 and CA$150. The settlement and improvements in battery life in newer models like the iPhone 15 series aim to restore consumer trust. Apple's stock experienced a slight decrease to $168.45.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 6:19 am

DJT

Shares of Trump Media & Technology Group Corp (NASDAQ:DJT) have plummeted, erasing all gains since its public debut. The stock dropped an additional 11% on Monday, with its value significantly reduced from its peak. The company, despite facing a $58.2 million loss last year and receiving a 'going concern' notice, remains optimistic about its future, citing no debt and substantial cash reserves. The stock's volatility has been influenced by various factors, including allegations of reliance on emergency loans for its market debut and legal challenges faced by Donald Trump.

Portfolio Pulse from Benzinga Neuro

April 09, 2024 | 5:19 am