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GOGO

Gogo Inc. has provided its financial guidance for 2024, expecting total revenue to be between $410M and $425M, which is in line with the consensus estimate of $423.49M. The company anticipates adjusted EBITDA to range from $110M to $125M, incorporating operating expenses for strategic initiatives like Gogo 5G and Gogo Galileo, and legal expenses from the SmartSky litigation. Free cash flow is projected to be between $20M and $40M, including $45M in reimbursements from the FCC Reimbursement Program, with capital expenditures estimated at $45M.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 12:18 pm

DIS

Florida Governor Ron DeSantis criticized Walt Disney Co. (NYSE:DIS) for cronyism and defended the state's takeover of the district previously controlled by Disney. An audit by the Central Florida Tourism Oversight District (CFTOD) revealed cronyism under Disney's control. DeSantis highlighted the state's success in saving money and promoting local business competition since the takeover. Disney's lawsuit against the state was dismissed by a federal judge, which DeSantis views as a victory and a step forward for Florida.

Portfolio Pulse from Shanthi Rexaline

February 28, 2024 | 12:04 pm

AMAT

FXI

SPY

Applied Materials disclosed in its recent 10Q filing the receipt of multiple subpoenas related to shipments to China customers and certain federal award applications. This development could have implications for the company's operations and regulatory compliance.

Portfolio Pulse from Charles Gross

February 28, 2024 | 10:52 am

MCD

META

Mark Zuckerberg, CEO of Meta Platforms, humorously suggested a Michelin star for a Japanese McDonald's he visited. His trip includes business meetings in Japan to discuss Meta's technologies and future visits to South Korea and India. Meanwhile, Zuckerberg's legal team is defending him in lawsuits related to social media addiction among children. McDonald's faces challenges in India with a recent outlet suspension.

Portfolio Pulse from Benzinga Neuro

February 28, 2024 | 8:18 am

BTCUSD

Sam Bankman-Fried, former FTX CEO, is appealing for a reduced prison sentence of 63-78 months for his non-violent fraud offense, challenging the recommended 100-year term. His defense argues that the victims will recover fully, suggesting no harm was done to customers, lenders, or investors. Meanwhile, Bitcoin's price has risen by 0.93% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

February 28, 2024 | 8:06 am

TSLA

Tesla Inc's Investor Relations VP, Martin Viecha, advised shareholders to switch brokers if their current one doesn't allow voting at the 2024 shareholder meeting. This recommendation comes as some European brokers restrict voting rights. The annual meeting is expected to cover sensitive subjects, including potentially a new compensation plan for CEO Elon Musk, following the striking down of his 2018 compensation plan.

Portfolio Pulse from Anan Ashraf

February 28, 2024 | 5:57 am

AMZN

GOOG

META

The Supreme Court is deliberating if the First Amendment applies to social media giants like Meta, Alphabet, and X in a case that could redefine content censorship. This follows laws in Florida and Texas aimed at preventing these companies from banning political content, which were blocked for potentially violating free speech rights. The outcome could impact how social media platforms are regulated, likening them to either traditional media or common carriers. NetChoice, representing tech companies, challenges these laws, potentially affecting the broader tech industry.

Portfolio Pulse from Natan Ponieman

February 27, 2024 | 11:17 pm

AAPL

AMZN

GOOGL

LYV

UNH

The Justice Department has initiated an antitrust investigation into UnitedHealth Group Inc. (NYSE:UNH), focusing on its competitive practices within the healthcare sector. This investigation is part of a broader effort by the Biden administration to increase antitrust scrutiny across major sectors, including technology and healthcare. The probe specifically examines the relationship between UnitedHealthcare and Optum, amid concerns over UnitedHealth's acquisition strategies and their impact on competition and consumers. UnitedHealth Group's shares fell by 2.27% following the news.

Portfolio Pulse from Piero Cingari

February 27, 2024 | 9:28 pm

AMZN

FTEC

GOOG

MSFT

XLK

Google Cloud has criticized Microsoft's cloud computing strategies, suggesting Microsoft aims for a monopoly that could stifle innovation in technologies like generative AI. Amid regulatory scrutiny over Microsoft and Amazon's dominant cloud market positions, Google, ranking third, has joined Amazon in complaining to UK regulators about Microsoft's practices. Microsoft, however, asserts that cloud competition is healthy. Microsoft and Google have seen significant stock gains, while ETFs like FTEC and XLK have substantial exposure to Microsoft.

Portfolio Pulse from Anusuya Lahiri

February 27, 2024 | 9:06 pm

UNH

UnitedHealth shares are trading lower due to a report about the Justice Department initiating an antitrust investigation into the company.

Portfolio Pulse from Benzinga Newsdesk

February 27, 2024 | 8:56 pm