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OTGLY

Palworld, a game developed by Pocketpair, sold over 5 million copies in three days, surpassing major titles in sales pace. Despite its success, the game has faced controversy, including accusations of plagiarism from Pokémon and death threats to its developers. Pocketpair's CEO addressed the harassment and legal concerns, stating that Palworld underwent legal reviews. The game became the most-played on Steam with over 1.29 million concurrent players, setting records as the most-played Japanese game and second most-played paid game on Steam.

Portfolio Pulse from Franca Quarneti

January 22, 2024 | 7:30 pm

ADM

DWAC

GILD

RVSN

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VIRI

U.S. stocks saw gains with the Dow Jones rising over 100 points. Industrials shares led the gains, while utilities fell. Archer-Daniels-Midland Company (ADM) shares plunged after placing its CFO on leave and revising its FY23 EPS outlook downwards. Sagimet Biosciences (SGMT) and Rail Vision (RVSN) surged on positive developments. Digital World Acquisition Corp. (DWAC) rose after Trump's endorsement by Florida Gov. Ron DeSantis. Virios Therapeutics (VIRI) and Gilead Sciences (GILD) fell on negative clinical and study results.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 7:19 pm

SPY

The Federal Reserve's Inspector General reported that former Boston Fed President Eric Rosengren's trading activities created an appearance of a conflict of interest. The trades in question occurred during 2020 when the Fed was actively involved in market interventions due to the COVID-19 pandemic. Rosengren's transactions included real estate investment trusts (REITs), which could have been influenced by Fed policies. The report did not find actual wrongdoing but highlighted the need for clearer guidelines to prevent such perceptions in the future.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 7:07 pm

SPY

The Federal Reserve's Inspector General concluded that former Dallas Fed President Robert Kaplan did not violate any trading laws or rules. However, the Inspector General noted that Kaplan's trading activities created the appearance of a conflict of interest.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 7:06 pm

SPY

The Federal Reserve Inspector General released findings from a probe into the securities trading activities of former Dallas and Boston Fed Presidents. The report scrutinizes their trading actions.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 7:06 pm

ADM

AMD

DIA

GILD

IWM

QQQ

SPY

TLT

TSLA

WDC

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XLU

U.S. stock indexes hit all-time highs with the S&P 500 reaching 4,850 points, Nasdaq 100 at 17,365, and the Dow Jones briefly touching 38,000. Small caps outperformed, with the iShares Russell 2000 ETF (IWM) rising 1.7%. Treasury yields eased, benefiting the iShares 20+ Year Treasury Bond ETF (TLT), which rose 0.6%. Gold fell, oil prices soared, and Bitcoin tumbled. SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones (DIA), and Invesco QQQ Trust (QQQ) all rose 0.3%. Industrials Select Sector Fund (XLI) outperformed, while Utilities Select Sector Fund (XLU) lagged. AMD fell after a downgrade, Tesla dropped due to a stalling EV outlook, ADM plummeted amid an investigation, GILD fell after a trial failure, and WDC rose on business separation plans. Key earnings reports are anticipated this week from companies like GE, JNJ, RTX, PG, VZ, LMT, NFLX, TXN, ISRG, and more.

Portfolio Pulse from Piero Cingari

January 22, 2024 | 6:35 pm

JBLU

SAVE

Spirit Airlines' stock is up following the announcement that it will appeal, alongside JetBlue, a judge's decision to block their proposed merger.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 6:00 pm

ADM

DWAC

GILD

RVSN

SGMT

VIRI

U.S. stocks traded higher with the Dow Jones gaining around 150 points. Real estate shares led the gains, while consumer discretionary shares fell. The US leading economic index dropped by 0.1% in December, less than the expected 0.5% decline. Sagimet Biosciences' stock surged 94% after positive clinical trial results. Rail Vision's stock jumped 69% following EU certifications for its railway system. Digital World Acquisition Corp's stock rose 26% after Ron DeSantis ended his presidential campaign. Virios Therapeutics' stock plummeted 40% due to plans to advance development for long-COVID treatment. Archer-Daniels-Midland's stock fell 20% amid an investigation into accounting practices. Gilead Sciences' stock dropped 10% after a failed phase 3 study. Oil prices increased by 2.3%, while gold saw a slight decline.

Portfolio Pulse from Avi Kapoor

January 22, 2024 | 5:18 pm

ADM

Shares of Archer-Daniels-Midland Company (NYSE:ADM) fell after the company placed its CFO on administrative leave and revised its FY23 outlook. The move follows an investigation into accounting practices in its nutrition segment, prompted by a request from the SEC. ADM is cooperating with the SEC and has appointed Ismael Roig as interim CFO. The company now expects adjusted EPS above $6.90, below the consensus of $7.28, and has withdrawn its nutrition segment outlook. ADM will also delay its Q4 earnings release and Form 10-K filing. ADM shares dropped 20.2% to $54.44.

Portfolio Pulse from Lekha Gupta

January 22, 2024 | 4:24 pm

FWRD

Forward Air Corporation (NASDAQ:FWRD) has amended its merger agreement with Omni Logistics, reducing the cash payment to Omni shareholders from $150M to $20M and adjusting their equity stake from 37.7% to 35%. This amendment resolves litigation between the parties, who now aim to close the transaction by the end of the week. Forward's CEO believes the acquisition will accelerate their growth strategy and create significant long-term shareholder value.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:58 pm