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Legal

SONO

Sonos has announced Saori Casey as its new CFO, effective January 22, 2024. The current CFO and CLO, Eddie Lazarus, will transition to the role of Chief Legal and Strategy Officer. This executive shuffle is part of Sonos's strategic planning and leadership realignment.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 9:11 pm

ALK

Alaska Air has cancelled approximately 109 flights scheduled for Wednesday due to the grounding of the Boeing 737-9 MAX aircraft, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 8:56 pm

SPY

President Biden was informed on Tuesday about Defense Secretary Lloyd Austin's prostate cancer diagnosis. Prior to this, no one at the White House was aware of Austin's condition.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 8:29 pm

DAL

JBLU

SAVE

UAL

BofA Securities analyst Andrew G. Didora provided mixed ratings for airlines, downgrading JetBlue (JBLU) to Underperform with a price target of $3, citing industry challenges and engine issues. The outcome of JetBlue's lawsuit regarding the acquisition of Spirit Airlines (SAVE) also poses execution risk. United Airlines (UAL) was upgraded to Buy with a price target of $56, due to strong balance sheet and revenue growth prospects. Delta Air Lines (DAL) maintained a Buy rating with a $50 price target, expected to generate significant free cash flow in 2024. Airline stocks underperformed last year, and the domestic market is projected to be oversupplied in 2024.

Portfolio Pulse from Nabaparna Bhattacharya

January 09, 2024 | 8:18 pm

EWP

GRFS

Grifols S.A. (NASDAQ:GRFS) experienced a 24% stock price drop after Gotham City Research released a report alleging serious accounting irregularities, including inflated EBITDA, manipulated debt levels, and tunneling transactions. The report suggests Grifols' actual debt may be significantly higher than reported, potentially leading to unsustainable financing costs and insolvency. The iShares MSCI Spain ETF (NYSE:EWP) also declined by 1.9% amid the fallout.

Portfolio Pulse from Piero Cingari

January 09, 2024 | 6:09 pm

AAPL

IBM

INTC

META

QCOM

TSLA

TSM

Samsung Electronics topped the U.S. patent recipient list for 2023 with 6,165 patents, followed by Qualcomm, TSMC, and IBM. Apple, Micron, and Intel were also in the top 10, while Meta and Tesla were notably absent. The patent landscape shows growth in autonomous driving, electrical smoking devices, quantum computing, breathing masks, and nanotechnology. U.S. patents issued decreased by 3.4% in 2023, with U.S. companies securing nearly half of all patents. Japan and South Korea are also significant recipients, despite declines.

Portfolio Pulse from Surbhi Jain

January 09, 2024 | 5:40 pm

ALK

Boeing Co (BA) is under scrutiny after a door plug dislodged from an Alaska Air Group (ALK)-operated 737 MAX 9, leading to the grounding of some jets by the FAA. Analysts from Goldman Sachs, Bank of America, RBC Capital Markets, and JPMorgan commented on the potential impact on Boeing's reputation and operations, maintaining their ratings but noting the reputational and potential financial risks. The incident could also affect Boeing's resumption of deliveries to China, although Chinese carriers do not currently operate MAX 9s.

Portfolio Pulse from Surbhi Jain

January 09, 2024 | 5:17 pm

DIS

SONY

Zee Entertainment Enterprises Ltd. missed a $200 million payment to Walt Disney Co's India unit for cricket TV rights, amid financial challenges and uncertainty over its merger with Sony Group Corp. The missed payment raises concerns about Zee's cash conservation and potential legal issues, while Disney seeks explanations. Zee's stock struggles as it relies on cricket rights to boost viewership and advertising in cricket-loving India. Disney's stock dipped 1.08% to $90.56.

Portfolio Pulse from Shivani Kumaresan

January 09, 2024 | 5:02 pm

CELZ

Creative Medical Technology Holdings (CELZ) was not granted a U.S. patent on Tuesday, contrary to previous reports. This correction clarifies the company's current patent status.

Portfolio Pulse from Charles Gross

January 09, 2024 | 3:53 pm

CELZ

Creative Technology Corporation has been granted U.S. Patent #11866281 for an electrostatic adsorption body. This patent could potentially enhance the company's intellectual property portfolio and provide a competitive edge in its market segment. The news may positively influence investor sentiment and the company's future business prospects.

Portfolio Pulse from Charles Gross

January 09, 2024 | 3:49 pm