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TSLA

On Monday, the U.S. stock market showed mixed results with the Dow Jones slightly up and NASDAQ, S&P 500 down. Boeing, Oracle, Meta Platforms, Cassava Sciences, and Tesla were among the most watched stocks due to various reasons including legal investigations, upcoming financial results, and product updates.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 2:33 am

META

Legislation targeting TikTok's operations in the U.S. is advancing rapidly, with a bill that could force its sale or result in a ban passing the House Energy and Commerce Committee unanimously. President Biden has expressed readiness to sign the bill, while former President Trump opposes the ban, citing it would unfairly benefit Meta Platforms Inc.'s Facebook. TikTok, surprised by the bill's progress, is exploring strategies to prevent its passage, including legal challenges and lobbying senators. The company argues that separating its U.S. operations would compromise its global appeal.

Portfolio Pulse from Franca Quarneti

March 11, 2024 | 11:10 pm

CURLF

GTBIF

MSOS

TCNNF

VRNOF

Tension between the White House and the DEA over marijuana rescheduling is increasing, with DEA officials questioning the medicinal benefits of cannabis despite HHS documents supporting its medical use. The DEA's resistance and concerns over THC potency have caused cannabis stocks to wobble, with notable dips in stocks like MSOS, CURLF, GTBIF, VRNOF, and TCNNF. Rescheduling cannabis could offer significant benefits for the industry, including federal tax deductions and more research opportunities, but faces legal and international treaty concerns.

Portfolio Pulse from Maureen Meehan

March 11, 2024 | 10:56 pm

GIL

Browning West, LP, owning about 5% of Gildan Activewear's shares, has filed a lawsuit against Gildan and its board, accusing them of taking oppressive actions that disregard the rights and interests of shareholders.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 8:43 pm

ABT

The FDA has announced that Abbott is recalling its Heartmate Touch Communication System (version 1.0.32) due to the risk of the device unexpectedly starting or stopping. This recall has been classified as a Class I recall, indicating a situation where there is a reasonable probability that the use of or exposure to the violative product will cause serious adverse health consequences or death. There have been 8 reported injuries associated with this issue, but no deaths have been reported.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 7:49 pm

F

Ford Motor Company has agreed to pay a $365 million settlement to resolve U.S. Justice Department claims of customs civil penalties. The settlement addresses allegations that Ford misclassified and under-valued vehicles to avoid higher duties on cargo vans.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 6:28 pm

BA

Boeing Co (NYSE:BA) shares dropped following a Justice Department investigation into an Alaska Airlines incident and a separate event involving a Boeing 787 Dreamliner operated by Latam Airlines. The investigation concerns a door plug blowing out mid-flight, and the Dreamliner experienced a nosedive due to a 'technical event', leading to hospitalizations.

Portfolio Pulse from Adam Eckert

March 11, 2024 | 6:15 pm

BA

SPY

U.S. Transportation Secretary Pete Buttigieg emphasized that Boeing must fully cooperate with all ongoing investigations, including those conducted by the Department of Justice (DOJ) and the National Transportation Safety Board (NTSB).

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 5:53 pm

NVO

Novo Nordisk A/S (NYSE:NVO) is addressing patient harm caused by counterfeit versions of its diabetes drug, Ozempic, identified in 16 countries. CEO Lars Fruergaard Jorgensen emphasized the company's serious approach to the issue, collaborating with authorities worldwide. The demand for Novo's drugs, including weight loss-promoting ones, has led to a rise in counterfeit incidents. The FDA is investigating, and Novo Nordisk's Wegovy recently received FDA approval for expanded use. NVO shares dropped 1.01% to $131.72.

Portfolio Pulse from Vandana Singh

March 11, 2024 | 5:31 pm

ACB

CGC

MJ

MSOS

TLRY

DEA officials are reportedly at odds with the Biden administration over the push to reschedule marijuana from Schedule I to Schedule III, despite recommendations from the U.S. Health and Human Services (HHS). The DEA is concerned about the increased THC potency and questions the medical value of cannabis. The move to Schedule III would allow state cannabis businesses federal tax deductions and ease research barriers but wouldn't federally legalize marijuana. The timeline for the DEA's decision is uncertain, but it's expected to be completed this year. The Biden administration's cannabis policies have been positively received by the public, according to recent polls.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 5:21 pm