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XEL

Xcel Energy's stock is trading lower following the company's disclosure of potential liability for the Smokehouse Creek Fire.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:13 pm

XEL

Xcel Energy (XEL) was notified of Texas wildfires affecting their Southwestern Public Service Company territory on February 26, 2024. The Smokehouse Creek Fire, the largest among them, has grown to approximately 900,000 acres with only 3% containment. Xcel Energy faces potential liability for damages as investigations into the fire's origin, cause, and damage are ongoing. A law firm has already contacted Xcel Energy on behalf of property insurance interests for potential exposure to damages.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 8:09 pm

SIDU

Sidus Space, identified by its ticker SIDU, has received a Notice of Allowance for its U.S. patent application 18/357,383, titled 'Three Dimensional Print Head Apparatus'. This development marks a significant milestone for the company in securing intellectual property rights for its 3D printing technology.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 6:52 pm

NARI

Inari Medical's shares dropped following mixed Q4 results and the announcement of a DOJ investigation. Additionally, Piper Sandler downgraded the stock to Neutral.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 6:09 pm

DWAC

Co-founders of Trump Media, Andy Litinsky and Wes Moss, have filed a lawsuit against the company and Donald Trump, alleging a scheme to dilute their shares. This legal action could impact the planned merger between Trump Media & Technology Group, owner of Truth Social, and Digital World Acquisition Corp (DWAC), potentially delaying or preventing the deal. The merger is significant for Trump, potentially valuing his stake at over $3 billion. The dispute centers around an attempt to increase authorized stock, which the co-founders argue dilutes their stake unjustly.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 6:01 pm

EIS

SPY

Senate Minority Leader McConnell criticized the blaming of Israel for its operations in hospitals and schools to free hostages and kill terrorists, stating it excuses Hamas for violating war laws by militarizing civilian infrastructure.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 4:51 pm

GOOG

META

Gov. Kathy Hochul and licensed dispensary owners in New York are criticizing Meta Platforms Inc (META) and Alphabet Inc (GOOG) for allegedly promoting unlicensed cannabis businesses on their platforms. They argue this undermines legal cannabis operations and poses public health risks. Despite Meta's policy against drug-related content, enforcement challenges persist. New York has struggled to collect over $25 million in fines from unlicensed retailers, underscoring the need for more effective enforcement strategies.

Portfolio Pulse from Patricio Liddle

February 29, 2024 | 4:19 pm

CC

OKTA

SNOW

PCE data matched forecasts, influencing market sentiment. Okta's stock surged due to optimistic future guidance, while Snowflake's shares fell. Chemours experienced a decline after announcing executive changes and a delay in filing its 10-K report.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 3:10 pm

CC

Chemours has placed its President and CEO Mark Newman, Senior Vice President and CFO Jonathan Lock, and Vice President and Controller Camela Wisel on administrative leave pending an internal review. This review, assisted by independent counsel, is examining the company's ethics hotline processes, working capital management practices, non-GAAP metrics, and related disclosures. The company is evaluating potential material weaknesses in its internal control over financial reporting as of December 31, 2023, particularly concerning senior management's 'tone at the top' and information and communication controls.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 2:51 pm

AAPL

MARA

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin have seen significant gains, leading to $750M in liquidations. Gemini will refund $1.1B to Earn Program customers. Apple's shareholders rejected a proposal for AI transparency. Marathon Digital's shares fell despite Bitcoin's rally. Dogecoin's market cap surpassed MicroStrategy and Robinhood. Analysts predict a 600% surge in Dogecoin's price. The ETF tracking Congressional Democrats' trades outperformed the S&P 500. US markets show uncertainty ahead of inflation data. Goldman Sachs CEO and Peter Schiff express concerns about the US economy. SEC investigates OpenAI CEO, and Apple faces a vote on AI transparency. Tesla is accused of polluting Berlin's water, and GXO Logistics leads a bidding war for Wincanton.

Portfolio Pulse from Akanksha Bakshi

February 29, 2024 | 2:45 pm