Streetbeat News

Legal

MMM

3M shares are trading higher following the final approval of its settlement with U.S. public water suppliers by the U.S. District Court in Charleston, South Carolina. Additionally, 3M has completed the planned spin-off of Solventum.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 7:44 pm

GOOG

GOOGL

Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Google's parent company, has agreed to delete data collected from users in 'incognito' mode from 2016 to 2023, following a lawsuit. Despite the lawsuit, Google's stock rose 2.5% on Monday. The settlement includes a $5 billion resolution and changes to Chrome's privacy disclosures and cookie settings.

Portfolio Pulse from Natan Ponieman

April 01, 2024 | 7:01 pm

EIS

SPY

USO

Iranian Foreign Minister Amirabdollahian stated that the Israeli attack on the Iranian consulate in Damascus is a violation of international conventions, holding Israel responsible for the consequences. This statement was reported by Reuters, citing state media.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 4:56 pm

DJT

Trump Media Technology Group (TMTG), trading under the ticker DJT on Nasdaq, reported a significant net loss of $58 million in 2023, a stark contrast to its net profit of $50.5 million in 2022. The company, which owns the Truth Social app, saw its shares fall by over 20% following the announcement. Despite the loss, TMTG's market capitalization remained above $6.8 billion. The company warned of ongoing operating losses and disclosed material weaknesses in its financial reporting. Trump owns 57.3% of TMTG shares, with the potential to receive more based on stock performance.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 4:36 pm

AAP

TUP

Tupperware Brands Corp (NYSE:TUP) is experiencing delays in filing its annual and quarterly financial reports due to material weaknesses in internal control over financial reporting, significant attrition, and the loss of its accounting firm, PricewaterhouseCoopers. The company has appointed KPMG LLP as its new auditor for fiscal year 2023. Tupperware's recent quarterly report showed a revenue decrease of 14% and a net loss of $55.8 million. The company's shares are currently trading flat at $1.34.

Portfolio Pulse from Shivani Kumaresan

April 01, 2024 | 3:29 pm

AMD

BIDU

NVDA

China criticized the U.S. for tightening semiconductor export regulations, impacting Nvidia Corp (NVDA) and Advanced Micro Devices, Inc (AMD). The Biden administration's recent rules aim to restrict China's access to U.S. AI chips and chipmaking tools, part of a strategy to limit Beijing's chip manufacturing capabilities over national security concerns. This has led to increased tension between the two nations and instability in the global semiconductor sector. In response, China has seen a significant rise in chipmaking machine imports and initiated a $40 billion state fund to bolster its chip sector. Additionally, Nvidia lost a crucial AI chip order from Baidu Inc (BIDU) to Huawei Technologies due to U.S. sanctions.

Portfolio Pulse from Anusuya Lahiri

April 01, 2024 | 2:59 pm

AAPL

AMZN

META

MSFT

NVDA

TSLA

Despite downturns in Apple (AAPL) and Tesla (TSLA) shares, the S&P 500 has seen its strongest first quarter since 2019, thanks to the performance of Nvidia (NVDA), Meta Platforms (META), Microsoft (MSFT), and Amazon.com (AMZN). These 'Fab Four' have been central to the market's resilience, with investor optimism fueled by potential economic stability and interest in AI technologies. However, concerns about a possible market rally end persist, with Tesla facing competition and growth challenges, and Apple dealing with legal issues and AI positioning questions.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 2:56 pm

PFMT

The Office of the NY State Comptroller disqualified Performant Financial (PFMT) from a previously awarded contract. The reasons for disqualification were not disclosed in the article.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 2:33 pm

NKLA

Nikola Corp (NASDAQ:NKLA) shares rose after announcing legal action against EMBR Motors and individuals involved in a takeover attempt following the sale of the Badger electric pickup truck assets. Nikola accuses EMBR and associates of violating an agreement by involving Nikola's disgraced founder, Trevor Milton. The company's FY23 revenue declined by 28.62%, influenced by various factors including the macroeconomic environment. Nikola's stock was up 5.77% at $1.10.

Portfolio Pulse from Adam Eckert

April 01, 2024 | 2:22 pm

NVDA

TSLA

Nvidia Corp (NVDA) has seen a significant rise in its stock, up 85% in Q1, driven by generative AI adoption, data center dominance, and product innovation. Tesla Inc (TSLA), on the other hand, faced a 20% decline due to production setbacks, leadership challenges, and analyst downgrades. Other Magnificent Seven stocks, including Apple (AAPL), Microsoft (MSFT), Alphabet (GOOGL/GOOG), Amazon (AMZN), and Meta Platforms (META), also experienced market movements, with AAPL and TSLA suffering double-digit declines.

Portfolio Pulse from Surbhi Jain

April 01, 2024 | 1:50 pm