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Legal

META

SNAP

Former President Donald Trump criticized Meta Platforms Inc (NASDAQ:META), calling it 'an enemy of the people' and expressing opposition to a TikTok ban, suggesting it would benefit Meta. Trump's comments led to a 3.74% drop in Meta's stock and also negatively impacted other social media stocks, including Snap Inc (NYSE:SNAP), which fell 3.47%. Trump's critique stems from his belief that Meta, among other companies, poses a national security risk by potentially sharing data with foreign entities.

Portfolio Pulse from Adam Eckert

March 11, 2024 | 5:21 pm

BABA

E-House's restructuring efforts have stalled due to its inability to use its CRIC asset as collateral for a rights issue, necessary for raising funds. The company faces significant financial difficulties, with over 5 billion yuan in interest-bearing liabilities and upcoming loans and convertible notes. Its situation is exacerbated by the real estate market downturn, affecting its main revenue source from property developers. E-House had planned to raise funds through a rights issue and inject its assets into a joint venture with Alibaba, but the plan is now on hold.

Portfolio Pulse from The Bamboo Works

March 11, 2024 | 5:20 pm

ALK

BA

The US Justice Department has initiated a grand jury for a criminal investigation into a Boeing Co. door plug incident on an Alaska Airlines flight on Jan. 5. This move indicates a deepening probe into Boeing's potential criminal liability.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 5:16 pm

XOM

Exxon Mobil has confirmed a major fire at its Port-Jerome Refinery, resulting in five slight injuries, according to a union source and Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:58 pm

JRVR

James River Group Holdings (JRVR) shares are trading lower following the company's announcement that it has commenced litigation against Fleming Intermediate Holdings to enforce the Stock Purchase Agreement.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:53 pm

PBR

Petrobras' CEO Prates has stated he does not plan to leave his role following a disagreement over dividends. His trip to Brasilia to meet President Lula was pre-scheduled and not a result of the spat.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 4:40 pm

BA

Boeing shares are trading lower due to reports of the Justice Department opening an investigation into an Alaska Airlines door blow out incident.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:32 pm

BA

LTM

A LATAM Airlines flight from Sydney to Auckland experienced a 'technical event' causing a nosedive, injuring about 50 people. The Boeing 787-9 Dreamliner landed safely in Auckland. LATAM and Boeing are addressing the incident, with LATAM providing support to affected passengers. Emergency services responded, and some passengers required hospital treatment.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:27 pm

HMC

The U.S. National Highway Traffic Safety Administration (NHTSA) has initiated a preliminary probe into approximately 250,712 Honda Motor Co Ltd (NYSE:HMC) Insight and Passport vehicles for unintended activation of automatic emergency braking. The investigation follows 46 complaints, including three crashes or fires and two injuries. The affected models are the hybrid electric Insight and the Passport SUV from 2019-2022. This issue poses collision risks due to inadvertent activation of the braking system. HMC shares dropped 2.04% to $34.79 following the news.

Portfolio Pulse from Shivani Kumaresan

March 11, 2024 | 3:17 pm

AMD

NVDA

AMD shares fell 3.7% to $199.72 amid profit-taking and overall market weakness, despite no company-specific news. The upcoming CPI report could influence the Fed's rate decision, potentially affecting AMD's costs and stock price. NVIDIA's legal issues and the semiconductor sector's overall decline also contributed to the market sentiment. AMD has shown significant revenue growth over the past 5 years, but its forward P/E ratio is higher than its peers.

Portfolio Pulse from Henry Khederian

March 11, 2024 | 2:55 pm