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U.S. stocks are expected to start the week cautiously, with Nvidia likely to extend its slide, impacting tech stocks. Analyst Daniel Ives predicts a 15% gain for tech stocks in the second half of the year due to AI expansion. Key economic data and bond yields will be closely watched. Boeing fell after confirming its takeover of Spirit AeroSystems, while Tesla rose ahead of its deliveries report. Chinese EV startups saw gains, and GameStop dropped following a class action lawsuit against Roaring Kitty.

Portfolio Pulse from Shanthi Rexaline

July 01, 2024 | 11:35 am

DLA

WFC

Delta Apparel, Inc. and its subsidiaries, including Salt Life Beverage, LLC, have filed for Chapter 11 bankruptcy protection. They plan to continue operations as debtors-in-possession and seek approval for a senior secured super-priority debtor-in-possession financing arrangement with Wells Fargo and other lenders. Additionally, Delta Apparel has entered into an Asset Purchase Agreement with FCM Saltwater Holdings, Inc. to sell certain assets related to Salt Life for approximately $28.03 million. The transaction is subject to Bankruptcy Court approval and competitive bidding. Key resignations include Vice President Nancy P. Bubanich and directors Glenda E. Hood and Sonya E. Medina.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 11:25 am

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WLK

Olin Corporation and Westlake Corporation, as part of the Ad Hoc Coalition of Epoxy Resin Producers, have prompted the European Commission to initiate an anti-dumping investigation on epoxy resin imports from China, Korea, Taiwan, and Thailand. The investigation aims to determine if these imports have caused material injury to the European epoxy resin industry by being sold at unfairly low prices.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 10:35 am

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The U.S. Justice Department is moving to charge Boeing Co (NYSE:BA) over two fatal 737 MAX crashes, offering a plea deal with a substantial financial penalty and an independent monitor. If Boeing declines, it will face trial. The plea deal includes a $487.2 million penalty, potential restitution, and a three-year probation period. Boeing's ability to secure government contracts could be jeopardized. The news follows recent safety concerns and criticisms of Boeing's safety record.

Portfolio Pulse from Shivani Kumaresan

July 01, 2024 | 10:24 am

MASI

Masimo Corporation's COO, Bilal Muhsin, has threatened to resign if CEO Joe Kiani is removed. Muhsin's resignation is conditional and stems from his disagreement with accusations made by Politan. This situation could lead to significant leadership changes at Masimo.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 10:19 am

META

The European Union is preparing to charge Meta Platforms Inc. (NASDAQ:META) with a breach of digital regulations under the Digital Markets Act. The charges relate to Meta's 'pay or consent' model, which critics argue coerces users into data tracking. This follows a similar case against Apple Inc. Penalties could reach up to 10% of Meta's global turnover.

Portfolio Pulse from Benzinga Neuro

July 01, 2024 | 8:28 am

AAPL

Apple Inc. (NASDAQ:AAPL) has extended the deadline for iPhone 7 and iPhone 7 Plus users to file claims for a portion of a $35 million settlement fund related to audio issues. The new deadline is July 3, 2023. Users can receive up to $349 depending on their interactions with Apple regarding the issue.

Portfolio Pulse from Benzinga Neuro

July 01, 2024 | 8:11 am

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Epic Games is working to relaunch 'Fortnite' on its own app store for iPhone users in the EU, complying with Apple's notarization process despite previous conflicts. This move follows the EU's Digital Markets Act, which allows third-party developers more access to Apple's platform.

Portfolio Pulse from Ananya Gairola

July 01, 2024 | 6:16 am

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Vitalik Buterin, co-founder of Ethereum, criticized current U.S. cryptocurrency regulations, calling them 'anarcho-tyranny.' He argued that vague projects are allowed to operate freely while those with clear long-term visions are penalized. His comments follow a lawsuit by the SEC against ConsenSys for alleged securities violations. The SEC recently closed an investigation into whether Ether is a security, marking a significant win for the cryptocurrency.

Portfolio Pulse from Aniket Verma

July 01, 2024 | 6:12 am

GME

Keith Gill, known as 'Roaring Kitty,' has been sued for securities fraud over his role in the GameStop stock surge. The class action alleges that Gill misrepresented himself as an amateur investor while being a licensed securities professional, manipulating the market for personal profit.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 3:57 am