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Deadly floods in Southern California have caused at least three deaths, widespread destruction, and a state of emergency. The floods have exacerbated the insurance crisis in the state, with insurers like Allstate Corp, State Farm, and Kemper Corp reducing their presence due to high costs from natural disasters. Despite the crisis, insurance stock prices and ETFs like SPDR S&P Insurance ETF, iShares US Insurance ETF, and Invesco KBW Property & Casualty Insurance ETF have shown minimal impact.

Portfolio Pulse from Natan Ponieman

February 06, 2024 | 9:10 pm

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A preliminary NTSB report indicates that four key bolts were missing from a door plug on a Boeing 737 Max 9, leading to its detachment during an Alaska Air flight. The FAA grounded 171 Boeing Max 9s, later allowing them to return to service. The NTSB's findings suggest Boeing's responsibility, with CEO Dave Calhoun acknowledging the company's mistakes. The FAA is auditing Boeing's production, including fuselage production at Spirit Aerosystems, and has halted Boeing's 737 MAX production expansion.

Portfolio Pulse from Adam Eckert

February 06, 2024 | 9:02 pm

MOR

MorphoSys shares dropped following a report suggesting Novartis might abandon their deal. MorphoSys refuted the claim, stating the report was 'factually wrong.'

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:53 pm

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A Delaware judge voided Tesla CEO Elon Musk's $55 billion compensation plan, leading to Tesla shareholders rallying in support. They propose a new compensation plan aiming for Tesla to surpass Apple and Saudi Aramco's combined market cap of $4.9 trillion. The plan suggests vesting shares to grant Musk 25% ownership. Tesla's board faces decisions on Musk's compensation amidst this support, with over 5,000 shareholders backing a new plan.

Portfolio Pulse from Chris Katje

February 06, 2024 | 8:45 pm

XRPUSD

A New York judge has ordered Ripple Labs to provide financial statements for 2022-2023 and details on institutional sales of XRP tokens, following a request by the SEC. Despite this, technical analysts and the XRP community remain bullish on XRP, with significant movements of XRP tokens and a buy signal indicated by the TD Sequential indicator on the XRP weekly chart. Analysts predict bullish momentum for altcoins in early 2024.

Portfolio Pulse from Khyathi Dalal

February 06, 2024 | 8:09 pm

Boeing has expressed appreciation for the U.S. National Transportation Safety Board's (NTSB) efforts and has committed to reviewing their findings quickly. The company acknowledges its accountability for the events in question, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 8:04 pm

SPY

U.S. Senate Majority Leader Schumer announced that the Senate will vote on a bipartisan border deal on Wednesday, despite opposition from Republicans. This move is seen as a significant step towards addressing border security and immigration issues.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 7:54 pm

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Nasdaq fell by 50 points while Willis Towers Watson reported better-than-expected Q4 earnings. Tenax Therapeutics, Palantir Technologies, and Frontier Group Holdings saw significant stock increases, whereas Sunworks, BioRestorative Therapies, and Peraso Inc. experienced major declines. The materials sector led gains, while information technology shares dropped.

Portfolio Pulse from Avi Kapoor

February 06, 2024 | 7:30 pm

ALK

The U.S. National Transportation Safety Board released a preliminary report on the 737 Max Alaska Air panel blowout incident, revealing that four bolts meant to prevent the door plug from moving upwards were missing prior to the incident.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 7:19 pm

NYCB

New York Community Bancorp (NYCB) faces a proposed shareholder class action lawsuit due to recent disclosures and a subsequent decline in stock price, according to a Reuters report citing court filings.

Portfolio Pulse from Benzinga Newsdesk

February 06, 2024 | 7:10 pm