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AAPL

GOVT

MSFT

NVDA

SPY

TSLA

Hedge funds experienced over $100 billion in withdrawals in 2023, continuing a trend from 2022 due to underperformance, particularly in equity long-short funds. Short sellers faced significant losses, notably in AAPL, MSFT, and TSLA. Meanwhile, investing in the S&P 500 index through SPY would have yielded a 24.3% return. U.S. Treasury funds underperformed, but the iShares US Treasury Bond ETF (GOVT) saw a 1.5% increase. New SEC rules may increase compliance risks and costs for hedge funds managing over $50 million.

Portfolio Pulse from Neil Dennis

February 07, 2024 | 2:17 pm

SKX

The Delaware Chancery Court dismissed with prejudice a shareholder derivative lawsuit against all current and former members of the Skechers Board of Directors. Skechers President Michael Greenberg expressed satisfaction with the ruling, stating the company always believed the lawsuit was unfounded. The court's decision is seen as a vindication for Skechers.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 2:11 pm

AAPL

CRM

MSTR

NVDA

TSLA

Bitcoin, Ethereum, and Dogecoin prices rise after MicroStrategy acquires $37M in BTC. Janet Yellen calls for new crypto regulations, emphasizing stablecoins. Ark Invest's Cathie Wood predicts Bitcoin will attract investors from gold. Solana experiences a 5-hour outage. US markets see mixed movements with Snap and others declining, while the Fear & Greed Index indicates greed. Tesla, Ford, and NIO make headlines in the EV sector. Tech updates include Nvidia's focus on AI and Apple's iPhone 16 camera redesign. Salesforce threatens to withhold bonuses over training goals.

Portfolio Pulse from Akanksha Bakshi

February 07, 2024 | 1:52 pm

BDRX

GLT

SNAP

Snap Inc. shares plummeted by 30.4% following mixed Q4 results. Biodexa Pharmaceuticals saw a 59.81% increase in shares after receiving a US patent allowance for Tolimidone. Glatfelter shares surged 134% after Berry Global announced plans to merge its Health, Hygiene and Specialties segment and Films Business with Glatfelter.

Portfolio Pulse from Benzinga Newsdesk

February 07, 2024 | 1:50 pm

TSLA

Billionaire investor Leon Cooperman commented on Tesla CEO Elon Musk's compensation, calling him a genius but overcompensated following the Delaware Chancery Court's rescinding of Musk's 2018 compensation plan. Cooperman, whose hedge fund does not hold Tesla stock, criticized excessive executive compensation in general. Meanwhile, Ark Invest's Cathie Wood defended Musk's pay, and investor Gary Black suggested the dispute could lead to Musk gaining more control in Tesla. Tesla's stock rose 2.23% to $185.10.

Portfolio Pulse from Shanthi Rexaline

February 07, 2024 | 9:22 am

GOOGL

A California judge recommended that GM's Cruise increase its settlement offer by 1.5x in a case involving a severe accident with a pedestrian by a Cruise autonomous taxi. The incident led to the suspension of Cruise's license by the California DMV, which accused Cruise of withholding information. The judge suggested a maximum penalty of $112,500, considering Cruise's initial offer of $75,000 as low. Meanwhile, Alphabet's Waymo is advancing with its robotaxi launch in Los Angeles.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 8:36 am

UBER

Uber Technologies, Inc. is anticipated to report a decrease in Q4 earnings per share from 29 cents last year to 17 cents, despite an expected revenue increase from $8.61 billion to $9.76 billion. The company was fined €10 million by the Dutch Data Protection Authority for privacy regulation breaches. Ahead of the earnings call, several analysts have maintained a positive outlook on Uber, adjusting their price targets upwards.

Portfolio Pulse from Avi Kapoor

February 07, 2024 | 6:35 am

DIS

Elon Musk has escalated his criticism of The Walt Disney Co (NYSE:DIS) over its diversity standards, alleging 'institutionalized racism and sexism' and offering legal aid to those discriminated against. The controversy stems from a leaked 'Inclusion Standards' memo, which Musk shared, detailing diversity criteria for Disney productions. Musk's critique follows his support for Gina Carano's legal battle against Disney and Lucasfilm, and his broader criticism of diversity and inclusion policies in various industries.

Portfolio Pulse from Ramakrishnan M

February 07, 2024 | 3:52 am

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, expressed concerns about Tesla Inc's (NASDAQ:TSLA) leadership and board, citing Elon Musk's alleged drug use and party culture as distractions for investors. These issues, according to Gerber, overshadow deeper execution problems at Tesla, such as underperforming stock and the need to deliver on promised initiatives. Despite Musk's denial of the allegations, Gerber believes these distractions could deter institutional investors and impact the company's progress.

Portfolio Pulse from Benzinga Neuro

February 07, 2024 | 1:55 am

DIS

TSLA

Tesla Inc's CEO Elon Musk is supporting actress Gina Carano in her lawsuit against The Walt Disney Company and Lucasfilm after her firing from 'The Mandalorian' series. Carano's lawsuit, inspired by Musk's offer to fund legal representation for those fired over Twitter posts, comes ahead of Disney's Q1 earnings report and amidst an activist shareholder battle and issues with Florida Gov. Ron DeSantis. Musk has publicly encouraged joining the lawsuit against Disney, which has not commented on the matter.

Portfolio Pulse from Chris Katje

February 06, 2024 | 10:55 pm