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CLF

NISTF

X

President Joe Biden and Donald Trump have both expressed opposition to Nippon Steel Corp's (OTC:NISTF) acquisition of United States Steel Corporation (NYSE:X) for $14.1 billion, emphasizing the importance of keeping the company American-owned. U.S. Steel shares dropped 2.8% following the report. Cleveland-Cliffs Inc. (NYSE:CLF) had previously made a bid for U.S. Steel, which was rejected.

Portfolio Pulse from Nabaparna Bhattacharya

March 14, 2024 | 5:05 pm

AAPL

GOOG

META

SNAP

The U.S. House of Representatives passed a bill requiring TikTok's parent company, ByteDance, to divest its holdings or face a U.S. ban. This could benefit rival social media platforms like Meta Platforms, Alphabet's YouTube, and Snap Inc, as TikTok users may migrate to these platforms. The bill now moves to the Senate, and if passed, ByteDance has five months to comply. The potential ban could remove TikTok from Apple and Alphabet's app stores, affecting future downloads and updates. Several members of Congress, who own stock in these social media companies, voted in favor of the bill, raising conflict of interest concerns.

Portfolio Pulse from Chris Katje

March 14, 2024 | 5:03 pm

UNH

UnitedHealth Group's subsidiary Change Healthcare has restored its pharmacy network after a cyberattack by the 'Blackcat' ransomware gang. The attack disrupted the U.S. healthcare infrastructure, leading to at least six class action lawsuits against UnitedHealth for negligence and privacy law violations. Despite restoring over 99% of pre-incident claim volume, the company faces ongoing legal challenges and a federal investigation. UNH shares slightly dropped by 0.13% to $487.36.

Portfolio Pulse from Vandana Singh

March 14, 2024 | 4:34 pm

GTBIF

Green Thumb Industries Inc. (GTBIF) is expanding its operations in anticipation of recreational marijuana legalization in several states and is strategically managing its finances through share buybacks and debt repurchase. Despite a recent 13% decrease in stock price, the company's valuation remains above the industry average, reflecting investor confidence. The cannabis sector's future growth is tied to legislative changes and state-level market expansions.

Portfolio Pulse from Nicolás Jose Rodriguez

March 14, 2024 | 3:59 pm

TSLA

The FAA announced it will oversee the investigation into the SpaceX-led Starship mishap, which involved both the Super Heavy Booster and the Starship vehicle, according to Reuters citing a post on X.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 3:56 pm

JPM

The Federal Reserve has issued an enforcement action against JPMorgan Chase, resulting in a fine of approximately $98.2 million. This action is significant as it directly involves one of the largest banking institutions in the United States.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 3:06 pm

GOOG

META

MSFT

OpenAI, backed by Microsoft Corp. (NASDAQ:MSFT), is under scrutiny for potentially violating data protection laws by using public social media posts to train its video generation model, Sora. OpenAI's CTO, Mira Murati, did not confirm if videos from platforms like YouTube, Facebook, and Instagram were used but mentioned the use of publicly available and licensed data. This has raised concerns about privacy law violations, including GDPR and CCPA, especially since OpenAI lacks a mechanism to remove data from Sora's model weights. The Italian regulator has found OpenAI in violation of data protection regulations.

Portfolio Pulse from Rounak Jain

March 14, 2024 | 2:11 pm

ABVC

ABVC BioPharma, Inc. (NASDAQ:ABVC) announced its fiscal year 2024 Q1 business update, highlighting a licensing deal with AiBtl BioPharma Inc. for CNS drugs, regaining Nasdaq compliance, strategic investments in real estate for healthcare development, and various financial transactions including securities purchase agreements with Lind Global Fund II, LP. The company reported a decrease in revenues and operating expenses, a net loss reduction, and progress in R&D including patents, FDA approvals, and a licensing agreement with Xinnovation Therapeutics Co., Ltd for the Chinese market.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:35 pm

ENFN

Spruce Point Capital Management issued a short report on Enfusion (ENFN), estimating a 40% to 60% downside risk due to concerns over financial restatement risk, executive turnover, and industry challenges. The report criticizes Enfusion's quality as a SaaS provider and highlights potential revenue misstatement issues.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 1:32 pm

BA

EADSF

EADSY

Boeing Co (NYSE:BA) faces controversy and safety concerns, leading to discussions on Reddit about whether to short sell or buy the stock. Users debate Boeing's prioritization of shareholder interests over passenger safety, its financial health, and its strategic importance in both commercial aviation and defense. Despite challenges, Boeing's unique market position and significance for national security suggest resilience and potential for long-term growth.

Portfolio Pulse from Surbhi Jain

March 14, 2024 | 1:23 pm