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NYCB

New York Community Bancorp Inc (NYSE:NYCB) experienced significant volatility, with shares dropping about 22% following a liquidity and deposit update, executive changes, and analyst downgrades. The company reported an increase in total deposits to $83 billion, total liquidity of $37.3 billion, and announced the appointment of Alessandro DiNello as executive chairman. Moody's downgraded the company's ratings to junk, and analysts from JPMorgan and BofA Securities downgraded the stock with lowered price targets. Additionally, NYCB is seeking financing for a portfolio of residential mortgages and faces a securities fraud lawsuit.

Portfolio Pulse from Adam Eckert

February 07, 2024 | 7:58 pm

GCI

Gannett expressed disappointment with a defamation verdict, citing lack of credible evidence and flaws in the trial process. The company plans to seek appellate review, challenging the jury's decision and the court's handling of the case.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 7:33 pm

LLY

Eli Lilly's stock price increased following upward revisions of price targets by BMO Capital and Wells Fargo. Additionally, the company successfully settled a lawsuit regarding insulin prices initiated by Minnesota.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 5:47 pm

AMZN

BABA

GOOG

MSFT

Microsoft Corp is in talks with the Cloud Infrastructure Services Providers in Europe (CISPE), including Amazon.Com Inc and 26 smaller cloud providers, to address a complaint to the EU about its cloud computing licensing practices. The aim is to avoid a potential EU antitrust investigation that could lead to fines and operational changes. The complaint, initiated by CISPE, accuses Microsoft of contractual terms that harm the European cloud computing market. Notably, licensing changes made by Microsoft excluded major competitors like Amazon, Alphabet Inc's Google, Alibaba Group, and Microsoft's own services. The European Commission has received multiple complaints against Microsoft, focusing on its Azure platform and investments in OpenAI, as well as issues with Microsoft Teams.

Portfolio Pulse from Anusuya Lahiri

February 07, 2024 | 5:43 pm

MSTR

MicroStrategy Inc. co-founder Michael Saylor emphasized Bitcoin's potential as an institutional asset class and store of value, predicting 2024 as the year Bitcoin becomes an institutional-grade asset. He compared Bitcoin's evolution to significant financial milestones like the creation of gold ETFs and the S&P index ETF. Saylor highlighted Bitcoin's transition from an unregulated retail asset to a regulated institutional asset, likening it to the digital transformation seen in tech companies like Microsoft, Google, and Apple. He also mentioned the growth of new job opportunities within the Bitcoin industry and argued that Bitcoin ETFs represent a catalytic moment, shifting the narrative towards Bitcoin as a significant store of value.

Portfolio Pulse from Murtuza Merchant

February 07, 2024 | 5:42 pm

AAPL

ISS, a proxy advisory group, has recommended that Apple shareholders vote in favor of two shareholder proposals. The first proposal calls for a report on the median gender and racial pay gap within the company. The second proposal seeks a report on the use of artificial intelligence by Apple. These recommendations were reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 3:25 pm

BA

RYAAY

Ryanair CEO O'Leary expressed concerns over the NTSB findings on Boeing's Max 9, citing poor production quality. However, he mentioned that these findings do not affect Ryanair's fleet as the issue is specific to the Max 9 aircraft. He also noted that Boeing's quality has been improving lately.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 3:14 pm

LLY

Eli Lilly has reached a settlement in a lawsuit filed by Minnesota regarding insulin pricing. As part of the agreement, Eli Lilly will cap the out-of-pocket costs for customers filling prescriptions for its insulin products. This settlement was reported by Reuters, citing court documents.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 3:12 pm

MSFT

NYT

New York Times Co (NYSE:NYT) reported Q4 2023 earnings with an adjusted EPS of $0.70, surpassing the consensus of $0.58, but missed sales expectations with $676.22 million against a consensus of $679.24 million. The company added 300,000 digital-only subscribers, reaching a total of 10.36 million subscribers. Digital advertising revenues fell by 3.7%, while subscription revenues from digital products grew by 7.2%. NYT increased its quarterly dividend to $0.13. The company is involved in a legal action against OpenAI and Microsoft Corp (NASDAQ:MSFT) over copyright infringement claims. NYT expects Q1 2024 digital subscription revenue growth of 11%-14% and forecasts a decrease in total advertising revenues.

Portfolio Pulse from Vandana Singh

February 07, 2024 | 2:48 pm

CRLBF

TCNNF

Pennsylvania Governor Josh Shapiro has proposed the legalization of adult-use cannabis to generate over $250 million in annual revenue and combat the black market. The proposal includes a July 1, 2024, effective date for legalization, with sales starting January 1, 2025, and allocates $5 million towards restorative justice initiatives. Representatives from Cresco Labs and Trulieve participated in a House Health Subcommittee hearing discussing marijuana policy reform.

Portfolio Pulse from Nina Zdinjak

February 07, 2024 | 2:47 pm