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BNBUSD

Sen. Roger Marshall revealed that the American Bank Association assisted in drafting the Digital Asset Anti-Money Laundering Act with Sen. Elizabeth Warren. This has caused concern in the crypto community about the banking sector's influence on crypto regulation. Sen. Warren's recent letter to crypto advocacy groups also scrutinizes the industry's hiring of former government officials to oppose regulation. Additionally, Binance CEO Changpeng Zhao pleaded guilty to charges related to transactions with terrorists and criminals.

Portfolio Pulse from Murtuza Merchant

December 20, 2023 | 6:56 pm

UTHR

United Therapeutics' stock (UTHR) is trading lower following a loss in a patent case against Liquidia. The defeat in court suggests potential challenges for United Therapeutics in maintaining exclusivity for its products, which could impact future revenues and market share.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 6:50 pm

SIRI

Sirius XM Holdings Inc. (NASDAQ:SIRI) is facing a lawsuit from New York Attorney General Letitia James for allegedly trapping consumers in unwanted subscriptions with a burdensome cancellation process. The investigation by the OAG revealed that SiriusXM requires subscribers to interact with an agent to cancel, with the process being intentionally prolonged. The company also trains agents to resist cancellation requests, leading to an average cancellation time of 11.5 minutes by phone and 30 minutes online. The lawsuit accuses SiriusXM of fraud and deception in its cancellation practices. SIRI shares dropped 1.65% to $5.360.

Portfolio Pulse from Nabaparna Bhattacharya

December 20, 2023 | 6:21 pm

X

Senate Banking Chair Sherrod Brown has urged President Biden to closely examine the sale of U.S. Steel to Nippon Steel, expressing concerns over the implications of the deal.

Portfolio Pulse from Charles Gross

December 20, 2023 | 6:06 pm

TSLA

A Reuters investigation alleges that Tesla has been aware of defective parts causing suspension or steering failures for at least seven years, affecting its entire vehicle lineup globally. Despite internal acknowledgment of these 'flaws' and 'failures', Tesla reportedly blamed customers for the issues and charged them for repairs. The company, led by CEO Elon Musk, prioritized new product rollouts and sales over addressing safety concerns. Tesla did not recall affected vehicles in the US or Europe, even after being compelled to do so in China due to regulatory pressure. Tesla has not responded to Reuters' inquiries about the investigation.

Portfolio Pulse from Adam Eckert

December 20, 2023 | 5:56 pm

TGT

Target Corporation (NYSE:TGT) closed nine stores due to theft and violence, but a CNBC investigation suggests that crime rates are higher at many nearby stores that remain open. The closures, which Target attributes to safety and business performance issues, represent less than 0.5% of its U.S. footprint. The timing of the closures coincides with the National Retail Federation's push for harsher penalties for organized theft, leading to speculation about the true motives behind the closures. TGT shares dropped by 0.98% to $1378.21.

Portfolio Pulse from Nabaparna Bhattacharya

December 20, 2023 | 5:51 pm

MDT

Medtronic Plc (NYSE:MDT) has issued a Class I recall for its StealthStation S8 surgical navigation software versions 2.0 and 2.0.1 due to a glitch that can misplace surgical plan data, potentially leading to serious health consequences or death. No injuries or deaths have been reported. The recall affects 2,109 devices distributed in the U.S. from Jan. 7, 2022, to Oct. 2, 2023, and was initiated on Sept. 27, 2023. MDT shares dropped 0.46% to $81.69.

Portfolio Pulse from Vandana Singh

December 20, 2023 | 5:32 pm

FXI

SPY

U.S. Republican lawmakers have sent a letter to China-based e-commerce companies expressing concerns about data privacy and security risks for U.S. users, according to a statement cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 5:31 pm

EIS

SPY

Israel has proposed a new pause in fighting with Hamas for the release of hostages in Gaza. This marks a shift in the situation since military operations and formal negotiations were previously halted. The proposal includes a phased release of hostages, including women. However, a deal is not imminent, and discussions are just beginning. Domestic pressure in Israel has increased after the IDF mistakenly killed three Israeli hostages. Hamas is under pressure as well and is demanding the release of more prisoners in exchange for hostages. Previous negotiations involved the US, Qatar, and the release of 80 Israelis and 240 Palestinians.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 5:15 pm

DWAC

SPY

Former President Trump plans to appeal a ruling that disqualifies him from the Colorado ballot. The article does not provide details on the grounds for the appeal or the specific impact on the companies mentioned.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 5:09 pm