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BA

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UAL

Elon Musk has been criticized by civil rights groups for suggesting that diversity hiring at Boeing (BA) and United Airlines (UAL) compromises air travel safety. The NAACP and National Urban League condemned Musk's comments, which linked the Boeing 737 Max 9 safety issues to DEI initiatives. Musk, CEO of X (formerly known as Twitter), has also faced backlash for promoting hate speech and white supremacist theories on the platform. The European Union is investigating X's content moderation policies. Allegations of racial harassment at Tesla (TSLA), another Musk-led company, were also highlighted by the National Urban League.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 7:09 am

ARKW

TSLA

Elon Musk, CEO of Tesla and SpaceX, discussed Bitcoin during an X Space event, expressing openness to using Bitcoin on X but maintaining a passive stance towards it. He compared Bitcoin to gold and noted it's not suitable for payments. Musk revealed personal holdings in Dogecoin and SpaceX's investment in Bitcoin. The SEC approved the ARK 21Shares Bitcoin ETF, which will start trading with a reduced expense ratio and a fee waiver incentive. Musk also commented on Dogecoin in response to the SEC's tweet about Bitcoin Spot ETFs. Bitcoin's value rose to $47,500 following the news.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 4:52 am

C

Citigroup CFO Mark Mason stated that the charges disclosed today are part of an effort to build credibility and show transparency, and do not alter the company's strategy.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:10 pm

AAPL

The U.S. International Trade Commission (ITC) has opposed Apple Inc.'s motion to stay an import ban on some of its products pending an appeal. The ITC's decision could potentially lead to a ban on the import of certain Apple devices that infringe on a patent held by a competitor. Apple is likely to face challenges in its supply chain and sales if the ban is enforced.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:01 pm

AAPL

Apple Inc (NASDAQ:AAPL) is distributing nearly $100 to eligible iPhone 6 and 7 owners as part of the settlement for the 'batterygate' scandal. The payments follow the finalization of a settlement in August 2023, where Apple agreed to pay between $310 million and $500 million without admitting wrongdoing. The settlement was reached after users complained of performance throttling, which Apple claimed was to prevent shutdowns due to battery degradation. Claims were required to be filed by October 2020, and around three million claims were recorded, with social media users reporting receiving payments of $92.17 this week.

Portfolio Pulse from Adam Eckert

January 10, 2024 | 9:35 pm

DCGO

DocGo Inc. has publicly dismissed a negative report by Fuzzy Panda Research, calling it false and defamatory. The company reaffirms its FY23 revenue guidance of $615M-$625M, aligning with estimates, and projects FY24 revenue to exceed $700M, contrary to the short seller's claims of decline. DocGo emphasizes its growth, compliance with billing practices, and inaccuracies in the report regarding liabilities and contract expirations.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:02 pm

AXP

C

COF

OMF

SYF

WMT

BMO Capital Markets analyst James Fotheringham downgraded American Express (AXP), Capital One (COF), and Synchrony Financial (SYF) due to credit quality concerns, among other issues. AXP was downgraded to Underperform with a price target of $157, implying a -17% downside. COF was downgraded to Market Perform with a $124 target, a 6% downside, partly due to the potential impact of a lawsuit from Walmart (WMT). SYF was also downgraded to Market Perform with a $40 target, with potential earnings impact from CFPB's late fee rule. Citigroup (C) was downgraded to Market Perform with a $57 target, and OneMain Holdings (OMF) maintained at Market Perform with a $50 target.

Portfolio Pulse from Nabaparna Bhattacharya

January 10, 2024 | 8:47 pm

XRPUSD

Ripple Labs is repurchasing $285 million of its shares, valuing the company at $11.3 billion. This follows a legal victory against the SEC, where a U.S. District Judge ruled that XRP sales on exchanges are not unregistered securities offerings. Ripple plans regular buybacks but does not anticipate a U.S. public listing soon due to regulatory uncertainties. The company has over $1 billion in cash and $25 billion in XRP assets. Ripple acquired Metaco last year and continues to grow despite the SEC lawsuit, with 95% of its customers being non-U.S. financial institutions.

Portfolio Pulse from Murtuza Merchant

January 10, 2024 | 6:40 pm

SAP

The US Department of Justice has announced that SAP will pay over $220 million to resolve investigations into foreign bribery. The settlement addresses allegations of SAP's involvement in violating the Foreign Corrupt Practices Act by engaging in bribery to secure business in foreign markets.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:35 pm

BA

Boeing CEO admitted on CNBC to a 'quality escape' that permitted the unsafe 737 Max-9 to fly, raising concerns about the company's quality controls and safety measures.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 6:10 pm