Streetbeat News

Legal

DWAC

SPY

Manhattan DA Alvin Bragg proposes a one-month delay in Donald Trump's hush money trial due to new documents provided by federal prosecutors. The trial was set for March 25, but Trump's lawyers seek a delay, aiming for Supreme Court intervention on immunity.

Portfolio Pulse from Happy Mohamed

March 14, 2024 | 7:43 pm

FCOM

META

XLC

Meta Platforms Inc (NASDAQ:META) plans to shut down CrowdTangle, a tool for tracking content on Facebook and Instagram, and replace it with the Meta Content Library, limiting access to academic and nonprofit researchers. The move, amid concerns over misinformation and the 2024 U.S. election, has received mixed reviews from researchers. Meta also faces challenges with child safety on its platforms. Investors can gain exposure to Meta through ETFs like XLC and FCOM.

Portfolio Pulse from Anusuya Lahiri

March 14, 2024 | 7:23 pm

ACB

Recent developments in cannabis legislation and market dynamics across Europe include France excluding cannabis flower from its medical marijuana program, the UK grappling with a booming illegal cannabis market estimated at $3.3 billion annually, and Germany facing calls to delay cannabis legalization. Aurora Cannabis (NASDAQ:ACB), a major player in the cannabis industry, has expressed concerns over the uncertainty caused by potential delays in Germany's cannabis legalization, emphasizing the need for legal clarity to ensure investment and planning security.

Portfolio Pulse from Nina Zdinjak

March 14, 2024 | 6:53 pm

NXPI

PI

NXP Semiconductors and Impinj have settled their patent litigation, leading to a decrease in NXP Semiconductors' stock price.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 6:45 pm

CMI

Truist Securities analyst Jamie Cook initiated coverage on Cummins Inc (NYSE:CMI) with a Hold rating and a $303 price target. Cummins, a global diesel engine manufacturer, was recently fined $2 billion for emission issues related to Dodge Ram trucks. The fine impacts its capital allocation, directing free cash towards debt payment from the Meritor acquisition and rebuilding its balance sheet, rather than returning cash to shareholders. Despite this, Cummins is expected to see growth in 2025 and 2026 due to a pre-buy ahead of the 2027 emissions change for trucks. Cummins has also gained share in the medium-duty overseas market, potentially adding at least $2.50 in EPS Power. The $303 price target is based on 9X EV/EBITDA and 16X P/E multiple on 2025 estimates, discounted back. CMI shares dropped 2.66% to $263.07.

Portfolio Pulse from Shivani Kumaresan

March 14, 2024 | 6:39 pm

BA

Europe's aviation authority, EASA, may withdraw its endorsement of Boeing's (NYSE:BA) manufacturing safety certifications due to concerns over quality control lapses, including a recent incident involving a 737 MAX 9 jet. An audit by the FAA revealed issues at Boeing and its supplier, Spirit AeroSystems, putting the transatlantic safety pact at risk. EASA's acting executive director, Luc Tytgat, stated that while no immediate action is planned, stricter measures could be imposed if necessary. Boeing's shares slightly increased by 0.05% to $182.45.

Portfolio Pulse from Akanksha Bakshi

March 14, 2024 | 6:25 pm

AAPL

A Reddit user, ConstantOne5578, analyzed Warren Buffett's decision not to sell Apple Inc (AAPL) shares despite market fluctuations and strategic shifts. The analysis highlights Buffett's long-term investment strategy and the significant tax implications of selling AAPL shares, which constitute over 80% of Berkshire's investment. Concerns about Apple's strategy, including its move towards ads and regulatory pressures, were also discussed. Other Reddit users contributed to the discussion, emphasizing Buffett's investment rationale and the importance of dividends, share buybacks, and stock appreciation.

Portfolio Pulse from Surbhi Jain

March 14, 2024 | 6:11 pm

BA

Representative William Keating sold shares and notes of The Boeing Company (NYSE:BA) on Feb. 28, right before the DOJ announced an investigation into Boeing on Feb. 29. The sale has drawn scrutiny due to potential insider trading, as Keating sits on the Armed Services Committee. Boeing shares have fallen 29% year-to-date in 2024, and the sale potentially saved Keating from future losses. The FAA is also investigating Boeing for recent mishaps, adding to the company's challenges.

Portfolio Pulse from Chris Katje

March 14, 2024 | 5:36 pm

PLTR

Palantir Technologies Inc's CEO, Alex Karp, criticized short sellers, accusing them of having cocaine habits to fund their activities against American companies. Prominent short sellers, including Jim Chanos and John Hempton, refuted Karp's claims, highlighting insider sales at Palantir, particularly pointing to co-founder Peter Thiel's recent stock sale. Despite the controversy, Palantir's stock has seen significant growth, driven by its positioning in the AI space, with shares up about 41% year-to-date but down 2.66% at the time of writing.

Portfolio Pulse from Adam Eckert

March 14, 2024 | 5:24 pm

WW

WW International shares are trading lower due to continued weakness after a 9finHQ editor's X post suggested the company is preparing for debt talks by hiring lawyers.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 5:14 pm