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TSLA

Elon Musk revealed that OpenAI is poaching Tesla engineers with 'massive compensation' offers, highlighting a fierce talent war in AI. Tesla's Ethan Knight is the latest to leave for Musk's AI venture, xAI, amidst this backdrop. Musk's efforts to retain talent include moving engineers to xAI and increasing Tesla AI team's compensation based on progress milestones. This situation unfolds as Musk faces a legal battle with OpenAI, a company he co-founded and left.

Portfolio Pulse from Ananya Gairola

April 04, 2024 | 1:52 am

DWAC

Two brothers, Michael and Gerald Shvartsman, have pleaded guilty to securities fraud involving insider trading with information about the merger between Digital World Acquisition Corp. (DWAC) and Trump Media & Technology Group, the parent company of Truth Social. This insider trading scheme, which allowed them to profit illegally from nonpublic information about the merger, carries a maximum sentence of 20 years in prison. The scandal has added to the challenges facing the SPAC merger, which has also seen Trump Media & Technology Group's stock under pressure due to significant losses and legal disputes.

Portfolio Pulse from Benzinga Neuro

April 04, 2024 | 1:45 am

RKT

UWMC

Hunterbrook Media, a hedge fund and news organization, released a short report on UWM Holdings Corp (UWMC), alleging unfair practices and encouraging a class action lawsuit. Hunterbrook disclosed a short position in UWMC and a long position in Rocket Companies Inc (RKT). UWM responded, questioning Hunterbrook's practices and the report's validity, suggesting potential market manipulation. Despite the controversy, UWMC shares rose 1.67%.

Portfolio Pulse from Aaron Bry

April 03, 2024 | 9:17 pm

SNY

Sanofi has agreed to settle approximately 5,000 lawsuits in the US related to cancer claims from the use of Zantac. This settlement could impact the company's financials and public image in the short term.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:47 pm

AYRWF

CNTMF

MAPS

SNDL

Following a Florida Supreme Court decision, a report by Pablo Zuanic predicts a 400% growth in Florida's cannabis market if legalization passes in Nov. 2024, potentially increasing the market to $6B. Companies like Cansortium, AYR Wellness, iAnthus, SNDL, Trulieve, Planet 13, Cannabist, Cresco, Verano, and Curaleaf are expected to see significant valuation increases. The report also anticipates increased M&A activity and benefits for ancillary service providers like WM Technology.

Portfolio Pulse from Nicolás Jose Rodriguez

April 03, 2024 | 8:36 pm

OLN

Olin Corporation (NYSE:OLN) has filed antidumping and countervailing duty petitions against China, India, South Korea, Taiwan, and Thailand, alleging that imports of certain epoxy resins are unfairly traded and causing material injury to the U.S. epoxy resin industry. The petitions, part of the U.S. Epoxy Resin Producers Ad Hoc Coalition, claim these imports are subsidized by their governments, affecting U.S. pricing, production, sales, and earnings. The petitions aim to address the negative impact of these imports on the U.S. industry's sustainability and supply chain resiliency, vital for critical industries and compliance with U.S. legislation.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:10 pm

EAF

Nilesh Undavia and the Undavia Group, holding approximately 5.9% of GrafTech International Ltd. (NYSE:EAF) shares, have issued a letter urging shareholders to vote for Undavia's election to the board at the upcoming Annual Meeting on May 9, 2024. The letter criticizes the current board for poor decision-making, including the appointment of the former CFO as CEO, environmental risk mismanagement, and excessive director compensation despite significant shareholder value destruction. Shares have dropped 90% since the IPO, and bonds trade at 64 cents on the dollar. Undavia aims to add an independent, large shareholder perspective to the board to revive GrafTech's market leadership.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:54 pm

ABUS

MRNA

Arbutus Biopharma's stock surged over 20% after a U.S. District Court ruling allowed it to pursue a patent infringement claim against Moderna concerning the mRNA technology used in Moderna's Covid vaccine. The court's decision aligns closely with Arbutus' proposed interpretations of disputed terms, marking a significant win for Arbutus and potentially posing a challenge for Moderna as the case progresses.

Portfolio Pulse from Neil Dennis

April 03, 2024 | 7:37 pm

COIN

Crypto VC firm Paradigm, co-founded by Coinbase Global Inc. (NASDAQ:COIN) co-founder Fred Ehrsam, is reportedly raising a new fund between $750 million and $850 million. This follows a period of increased fundraising activity in the crypto sector, despite Paradigm's recent challenges, including a leadership shift and involvement in a class-action lawsuit related to its investment in FTX. The firm continues to invest in the crypto industry, with significant investments like in Merkle Manufactory.

Portfolio Pulse from Murtuza Merchant

April 03, 2024 | 7:33 pm

MRNA

Moderna's stock price is experiencing a downturn due to the public circulation of documents related to a patent infringement lawsuit filed by Arbutus/Genevant against Moderna.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:04 pm