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ADM

Archer-Daniels-Midland Co (ADM) has postponed executive performance bonuses due to an ongoing investigation into its accounting practices, particularly in the nutrition segment. The delay follows the sidelining of the CFO and a significant drop in ADM shares by 24%, the largest since 1929. The full-year 2023 financial results release has also been delayed, with the SEC requesting information on the Nutrition reporting segment and intersegment transactions.

Portfolio Pulse from Benzinga Neuro

January 29, 2024 | 1:52 am

ADM

ADM (Archer Daniels Midland Co) has delayed certain executive bonuses due to an ongoing accounting investigation. The nature of the accounting issues and the potential financial impact have not been disclosed. This postponement reflects the company's commitment to financial integrity and could affect investor confidence until the investigation is resolved.

Portfolio Pulse from Charles Gross

January 29, 2024 | 1:09 am

AMZN

TGT

VCR

WMT

XLY

A ProPublica investigation has revealed that Walmart Inc. (NYSE: WMT) is implicated in a fraud network involving gift cards and money laundering, with losses exceeding $1 billion from 2013 to 2022 according to the FTC. Despite Walmart's efforts to dismiss a lawsuit alleging negligence in preventing fraud, the company's financial services are under scrutiny for lack of effective anti-fraud measures. The case of Qinbin Chen, who laundered $7 million in Walmart gift cards, highlights the issue. Walmart's expansion into financial services, including the acquisition of One, raises concerns about its ability to manage these services amidst compliance issues. The situation may also impact related companies like Amazon.com Inc. (NASDAQ: AMZN) and Target Corporation (NYSE: TGT), as well as ETFs like XLY and VCR.

Portfolio Pulse from Bibhu Pattnaik

January 28, 2024 | 7:17 pm

DOGE-USD

ETH-USD

SHIB-USD

This week in cryptocurrency saw Dogecoin's value surge due to Elon Musk's X app, Trump sold over 1,000 Ethereum, a Colorado pastor admitted to crypto fraud, Trump profited from MAGA coin, and Shiba Inu's burn rate increased by over 4,200%. Dogecoin may be adopted by X/Twitter as a payment method, Trump's NFTs remain in demand, and Shiba Inu tokens were burned by anonymous entities.

Portfolio Pulse from Benzinga Neuro

January 28, 2024 | 12:57 pm

ME

23andMe Holding Co. (NASDAQ:ME) is being sued in a class action lawsuit for failing to protect the privacy of nearly 7 million customers in a data breach. The breach, which lasted from April to September 2023, specifically targeted customers with Chinese and Ashkenazi Jewish heritage. Personal information, including names, addresses, and birth dates, was sold on the dark web. The breach was disclosed after a hacker posted customer data on a subreddit. The lawsuit raises concerns about the potential misuse of the data amid rising antisemitism.

Portfolio Pulse from Nabaparna Bhattacharya

January 27, 2024 | 8:16 pm

TKO

Vince McMahon has resigned from TKO Group Holdings, Inc. (NYSE:TKO) and its subsidiary, WWE, amid allegations of sexual assault and trafficking. A lawsuit filed in Connecticut accuses McMahon and former WWE executive John Laurinaitis of rape and misconduct. McMahon has called the lawsuit a 'vindictive distortion' and intends to clear his name. The lawsuit also claims McMahon coerced the plaintiff into a nondisclosure agreement, paying only a portion of the agreed amount.

Portfolio Pulse from Nabaparna Bhattacharya

January 27, 2024 | 6:54 pm

CMPS

GHRS

IXHL

PSIL

A new study suggests suggestibility plays a role in the antidepressant effects of psilocybin therapy. The EU has allocated $7M for psychedelic research for various disorders. In Australia, the first psychedelic-assisted medical treatments in 50 years were provided. Incannex Healthcare's CEO discussed the company's role in psychedelic-assisted therapies on the Benzinga Psychedelics Podcast. Psychedelics stocks showed varied performance, with COMPASS Pathways, GH Research, and Incannex Healthcare closing higher, while others like Seelos Therapeutics and Enveric Biosciences closed lower. The AdvisorShares Psychedelics ETF (PSIL) closed at $1.43.

Portfolio Pulse from Lara Goldstein

January 27, 2024 | 3:00 pm

MSFT

Microsoft CEO Satya Nadella has committed to taking swift action against the spread of non-consensual explicit deepfake images, such as the recent AI-generated fake nude images of Taylor Swift. Microsoft, a major investor in OpenAI, is investigating the incident and has emphasized the importance of creating a safe digital environment. The company has updated its Code of Conduct and strengthened content safety filters to prevent misuse of its services.

Portfolio Pulse from Ananya Gairola

January 27, 2024 | 10:26 am

AAPL

The EU has warned Apple Inc. (AAPL) of potential severe consequences if the company's App Store changes do not comply with the upcoming Digital Markets Act (DMA). Apple is modifying its App Store to allow developers to use alternative stores and payment systems, avoiding Apple's up to 30% commission. Despite these changes, the EU's industry chief Thierry Breton has criticized them as potentially inadequate and has threatened strong action if they don't meet the DMA standards. Apple will still charge a 'core technology fee' and require apps to be submitted for review. The changes could affect developers' costs, with companies like Meta Platforms potentially facing millions in yearly payments.

Portfolio Pulse from Ananya Gairola

January 27, 2024 | 7:38 am

AAPL

META

SPOT

Spotify's CEO Daniel Ek criticizes Apple's 'Alternative App Store' fee proposal, claiming it undermines the European Union's Digital Markets Act and could increase Spotify's customer acquisition costs significantly. Ek accuses Apple of disrespecting the DMA's principles and urges the European Commission to enforce the DMA. Apple's proposed fee could also affect other developers like Meta Platforms, potentially costing them millions.

Portfolio Pulse from Rounak Jain

January 27, 2024 | 3:42 am