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Legal

NTRS

Northern Trust's indirect subsidiary, NTFS, was convicted by a French court on March 5, 2024, and fined €187,500. Additionally, NTFS and others convicted of complicity must jointly cover the unpaid estate taxes, penalties, and interest. This was disclosed in an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 8:35 pm

FXI

GOOG

GOOGL

SPY

The U.S. has indicted former Google software engineer Linwei Ding for allegedly stealing trade secrets related to artificial intelligence to aid Chinese companies. This development could have implications for Google's competitive edge in AI technology and may affect U.S.-China relations in the tech sector.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 8:15 pm

BA

SPR

Boeing has provided a complete list of its 737 Max door team members following concerns raised by the NTSB Chair during a Senate hearing on Wednesday, according to Reuters citing sources.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 7:56 pm

TSLA

Tesla's German plant will be without electricity until the end of next week due to a fire incident. This temporary shutdown could potentially impact production timelines and overall operational efficiency at the facility.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 6:52 pm

NYCB

New York Community Bancorp Inc (NYSE:NYCB) shares plummeted following reports the bank is seeking a capital infusion through a potential equity sale. The stock was halted multiple times after The Wall Street Journal reported the bank's efforts to shore up confidence. Concerns arose after weak financial results, a dividend cut, and fears over commercial real-estate loan losses. The situation worsened with Moody's downgrading the bank's ratings to junk and the replacement of its CEO and board director.

Portfolio Pulse from Adam Eckert

March 06, 2024 | 6:40 pm

DADA

Dada Nexus Limited (NASDAQ:DADA) announced overstated revenues and associated costs in past financial statements, leading to the resignation of its president, Jeff Huijian He. The company reported overstated net revenues and operations costs for several quarters in 2022 and 2023. Following this, New Street Research downgraded DADA from Buy to Neutral with a $2 price target. Despite these issues, DADA shares are up 28.7% at $2.53.

Portfolio Pulse from Erica Kollmann

March 06, 2024 | 6:23 pm

GRFS

Grifols SA (NASDAQ:GRFS) faces a new short report from Gotham City Research, questioning the company's transparency, integrity, and ethical conduct. The report challenges Grifols' financial representations, particularly around a €321 million 'cash pooling financing arrangement', alleging misleading information about lending activities. This follows previous accusations by Gotham City of account manipulation to artificially lower leverage, leading to an ECB inquiry into lenders' exposure to Grifols. Shares of Grifols dropped 12.15% to $5.43 following the report's publication.

Portfolio Pulse from Vandana Singh

March 06, 2024 | 6:21 pm

BA

SPR

The National Transportation Safety Board (NTSB) is set to conduct an investigative hearing into the 737 Max 9, which will feature testimony from employees of Boeing and Spirit Aerosystems. This hearing is part of the ongoing scrutiny over the aircraft's safety and operational standards.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:57 pm

DWAC

ETHUSD

MAGA

MATICUSD

Following Trump's Super Tuesday win and Nikki Haley's exit from the GOP presidential race, interest in Trump-related investments like NFTs, memecoins, and stocks has surged. Trump's NFT collections, especially the latest 'MugShot Edition,' have seen increased sales. Digital World Acquisition Corp (DWAC) shares have risen 152% in 2024, amidst Trump's election lead, despite merger delays and lawsuits. The MAGA memecoin also gained traction, reflecting Trump's political momentum.

Portfolio Pulse from Chris Katje

March 06, 2024 | 5:49 pm

BA

NTSB Chair Homendy announced plans for an investigative hearing on the Boeing 737 Max 9 towards the end of summer, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 06, 2024 | 5:39 pm