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RIO

Rio Tinto has announced the loss of four team members from its Diavik diamond mine and two airline crew members in a plane crash near Fort Smith, Northwest Territories, Canada. Another Diavik team member survived and is receiving treatment. CEO Jakob Stausholm expressed deep sympathy and is traveling to the site to offer support. The company will work with authorities to understand the crash.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 7:32 pm

SPR

Spirit Aerosystems Holdings, Inc. (NYSE:SPR) stock is rising after a Seattle Times report indicated that Boeing Company (NYSE:BA) may be at fault for improperly installing a fuselage panel on an Alaska Airlines MAX 9 jet, which blew off mid-flight. The report cites a Boeing whistleblower and suggests that if the information is confirmed, Boeing would be responsible for the incident, not Spirit AeroSystems. Spirit Aerosystems shares are up 6.1% following the news.

Portfolio Pulse from Erica Kollmann

January 24, 2024 | 5:22 pm

HUT

Hut 8 (NASDAQ:HUT) has refuted allegations by J Capital Research, which accused the company of overpaying for the merger with US Bitcoin Corp (USBTC) and claimed USBTC was near bankruptcy. J Capital, holding short positions in Hut 8, suggested the merger was a pump-and-dump scheme. Hut 8's shares dropped 23.3% following the report. Hut 8 defended its merger, financial health, and diversified revenue streams, stating it holds 9,195 Bitcoin worth approximately $390 million. The company criticized the report as inaccurate and self-serving for the short seller.

Portfolio Pulse from Neil Dennis

January 24, 2024 | 5:15 pm

SPR

Spirit Aerosystems Holdings (SPR) shares are up after a report indicated Boeing may have improperly installed a fuselage panel on an Alaska MAX 9 jet, which later detached.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 4:38 pm

EDVMF

Endeavour Mining (OTC:EDVMF) exceeded its 2023 production guidance with 1.1 million ounces of gold and $266 million in shareholder returns. The company is advancing with its Sabodala-Massawa and Lafigue mines, expecting production starts in Q2 2024 and Q2 2023, respectively. Despite positive developments and high gold prices, Endeavour's stock has fallen -23% YTD amid CEO dismissal over misconduct and a strike at the Houndé mine in Burkina Faso, which may affect 2024's production.

Portfolio Pulse from Stjepan Kalinic

January 24, 2024 | 4:17 pm

AAWH

GTBIF

TSNDF

VRNOF

The DOJ has requested a federal court to dismiss a lawsuit from the cannabis industry seeking to stop the federal ban on marijuana. The DOJ argues that the court should await the DEA's rescheduling decision and that the plaintiffs lack standing, as they haven't faced federal prosecution. The government also cites the constitutional regulation of intrastate marijuana activities and a lack of substantial risk of future enforcement. The lawsuit involves several cannabis companies, including Verano Holdings, Ascend Wellness, Green Thumb Industries, and TerrAscend.

Portfolio Pulse from Maureen Meehan

January 24, 2024 | 3:53 pm

BMY

GILD

JNJ

NVS

The FDA has announced a classwide black box warning for all CAR-T therapies due to the risk of secondary T-cell cancers. Gilead Sciences Inc's Tecartus was initially included but has since been removed from the list requiring the warning. The FDA is considering further regulatory action based on clinical testing and safety monitoring reports. Other CAR-T therapies from Bristol Myers Squibb, Novartis AG, and Johnson & Johnson/Legend Biotech Corporation are still required to carry the warning. Gilead's stock price has seen a slight decline following the news.

Portfolio Pulse from Vandana Singh

January 24, 2024 | 3:36 pm

AAPL

AMD

AMZN

EBAY

GBTC

GOOGL

LMT

NFLX

TSLA

TXN

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are in the red, with Grayscale Bitcoin Trust (GBTC) continuing to bleed. Netflix hints at future price hikes. Texas Instruments reported Q4 results alongside other stocks moving lower in pre-market. US and world politics feature Trump and Biden's remarks, Turkey's NATO move, and North Korea's missile tests. China urges hedge funds to limit short selling. Tech companies like eBay, AMD, ASML, SAP, Amazon, Apple, and Alphabet see various developments. Electric vehicle news includes Tesla's upcoming earnings and job openings, Polestar, and Ford's USPS fleet. Netflix may raise prices and is praised for Q4 results. Lockheed Martin and Boeing face challenges in the industrial sector.

Portfolio Pulse from Akanksha Bakshi

January 24, 2024 | 3:32 pm

SPY

Boeing CEO is engaging with senators to address inquiries following the grounding of the Max 9 aircraft. This proactive approach may be aimed at managing regulatory concerns and maintaining confidence in Boeing's commitment to safety and compliance.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 3:12 pm

SGH

Cree LED, an SGH company (NASDAQ:SGH), and Current Lighting Solutions, LLC have entered into a patent license agreement for the use of Current's KSF/PFS red phosphor patents in Cree LED's Pro9 technology products. The agreement grants Cree LED a nonexclusive, worldwide license to use six specific U.S. patents in their Pro9 LED products, which include XLamp COB LED arrays, high-power LEDs, and J Series mid-power LEDs. These products benefit from enhanced color quality and efficiency due to the KSF/PFS phosphor. Terms of the agreement are confidential.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 3:01 pm