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Legal

DJT

Judge Juan Merchan issued a gag order against former President Donald Trump in a criminal case regarding alleged hush money payments to Stormy Daniels. The order restricts Trump from attacking witnesses, prosecutors, jurors, court staff, and their families. This development comes as Trump faces multiple legal challenges, including federal charges and a civil suit. Additionally, Trump Media & Technology Group (NASDAQ:DJT) went public, with shares reaching 52-week highs.

Portfolio Pulse from Chris Katje

March 26, 2024 | 7:44 pm

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Ford shares are trading lower following the company's announcement that it expects its supply chain to be lengthened due to the Baltimore bridge collapse.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 7:04 pm

DWAC

Trump Media & Technology Group (TMTG) went public through a merger with Digital World Acquisition Corporation (NASDAQ:DWAC), despite facing multiple setbacks including shareholder vote delays, investigations, and legal actions. Market experts view TMTG as a 'meme stock' and a way to bet on or against Trump rather than its underlying business. The stock saw a 37% increase on its debut day, with shares hitting new 52-week highs. Trump, owning 80 million shares, faces a six-month lockup, with speculation about potential share sales to free up capital.

Portfolio Pulse from Chris Katje

March 26, 2024 | 6:36 pm

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DFEN

ITA

Boeing's CEO David Calhoun and chairman Larry Kellner are stepping down amid an investigation into a safety incident. Boeing also announced the departure of Stan Deal, president of the Commercial Airplanes division. Analysts from Benchmark and BofA Securities provided their insights, with Benchmark giving a Buy rating and a $250 price target, while BofA maintains a Neutral rating with a $210 price target. The changes come as Boeing faces delivery concerns and safety issues. Investors can gain exposure to Boeing through IShares U.S. Aerospace & Defense ETF (ITA) and Direxion Daily Aerospace & Defense Bull 3X Shares (DFEN).

Portfolio Pulse from Lekha Gupta

March 26, 2024 | 6:07 pm

CEIX

A container ship collision with the Francis Scott Key Bridge in Baltimore has caused its collapse, leading to delays in vessel access to and from the CONSOL Marine Terminal. CONSOL Energy (CEIX) is working with authorities to restore access and operations but lacks a definitive timeline for resumption. The incident did not involve a ship owned or operated by CONSOL, nor carrying materials to or from its terminal.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 5:33 pm

F

Ford Motor has issued a warning about the potential fallout from the Baltimore bridge collapse, indicating that the incident is expected to 'lengthen' its supply chain, according to the company's CFO on Bloomberg TV.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 4:21 pm

OCGN

Ocugen Inc (NASDAQ:OCGN) shares dropped 6.3% to $1.72 during Tuesday's session after reaching a 52-week high on Monday. The decline follows the Third Circuit Court of Appeals' decision to uphold the dismissal of consolidated securities class action lawsuits against Ocugen. Additionally, Ocugen announced an amendment to its bylaws, reducing the quorum requirement for stockholder meetings, potentially making it easier to conduct business and could be seen positively by investors.

Portfolio Pulse from Henry Khederian

March 26, 2024 | 4:19 pm

TEVA

The Supreme Court appears unlikely to restrict access to mifepristone, a medication used in over 60% of U.S. abortions, challenging the lawsuit brought by antiabortion doctors against the government's regulation loosening. The justices, showing skepticism across ideological lines, focused on the legal standing of the challengers. The drug's safety, supported by multiple studies, was emphasized, alongside the 2016 and 2021 rule changes that facilitated its access.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 4:01 pm

BAC

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JPM

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Visa Inc. (NYSE:V) and Mastercard Incorporated (NYSE:MA) have reached a significant antitrust settlement with U.S. merchants, potentially one of the largest in U.S. antitrust history. The settlement, pending approval, aims to resolve claims related to credit card processing fees, with Visa and Mastercard agreeing to caps and rollbacks on these fees, resulting in at least $29.79 billion in savings for merchants over five years. Banks like JP Morgan Chase & Co. (NYSE:JPM), Bank Of America Corporation (NYSE:BAC), and Citigroup, Inc. (NYSE:C), which benefit from the revenue generated by these fees, are indirectly involved. The settlement includes a rollback of swipe fees and a commitment not to raise fees above a certain level for five years.

Portfolio Pulse from Nabaparna Bhattacharya

March 26, 2024 | 3:48 pm

X

United States Steel Corporation (NYSE:X) has received authorization for its Consent Decree from the U.S. EPA and DOJ, addressing incidents at its Clairton Plant. The Decree includes $4.5 million for public health and air quality projects, $19.5 million in facility upgrades, litigation cost coverage, a $500,000 payment to the Allegheny County Clean Air Fund, and the permanent idling of Battery #15 without job reductions. This follows a $17.5 million investment in process improvements post the 2018 accident.

Portfolio Pulse from Benzinga Newsdesk

March 26, 2024 | 2:14 pm