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CCI

Ted B. Miller, co-founder of Crown Castle Inc. (CCI), and his investment vehicle, Boots Capital Management, LLC, have filed preliminary proxy materials with the SEC for Crown Castle's 2024 Annual Meeting. Miller criticizes the current leadership for destroying shareholder value and proposes a new slate of directors to restore the company's performance. Crown Castle's stock recently hit a six-year low, underperforming peers for over a decade. Miller's plan aims to refocus on the core tower business and reverse the company's fortunes.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:54 pm

BTCUSD

ETHUSD

FTTUSD

SPY

Sam Bankman-Fried, the founder of FTX, has been sentenced to 25 years in federal prison for defrauding customers and investors. He has also been ordered to forfeit more than $11 billion. This landmark case highlights the risks associated with the cryptocurrency market and may have broader implications for investor confidence in crypto assets.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:50 pm

TSLA

Elon Musk, CEO of Tesla and SpaceX, has shifted his stance on digital super-intelligence, suggesting a more optimistic outlook. At the Abundance Summit 2024, Musk estimated a 10-20% chance that super-intelligence could end humanity but emphasized a probable future of abundance as the most likely outcome. This marks a departure from his previous warnings about the dangers of AI, including a call for a pause on AI development exceeding OpenAI's GPT-4 in 2023.

Portfolio Pulse from Ananya Gairola

March 28, 2024 | 3:49 pm

LIXT

White Diamond Research accused Lixte Biotechnology of misleading the public by republishing an old publication as if it were new. The claim was made on X (formerly known as Twitter) and detailed on their website.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:38 pm

FXI

SPY

TSLA

The World Trade Organization (WTO) has reported that China has initiated a dispute over U.S. tax credits for electric vehicles and renewable energy, according to Reuters. This move by China could escalate tensions between the two largest economies over clean energy incentives.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 3:26 pm

MBGYY

VWAGY

Mercedes-Benz Group AG (MBGYY) faces liability after a German court ruled against it in a diesel emissions case, holding the company responsible for using emissions-cheating devices in certain diesel cars. The Stuttgart Appeals Court's decision allows owners of affected Mercedes GLC and GLK models to pursue individual claims for compensation. Mercedes-Benz intends to appeal the decision. This case is similar to a previous lawsuit against Volkswagen AG (VWAGY), which settled for €830 million over a diesel emission scandal.

Portfolio Pulse from Shivani Kumaresan

March 28, 2024 | 1:42 pm

DJT

Richard W. Painter, former White House ethics lawyer, expressed concerns about the risks associated with the merger of Trump Media & Technology Group Corp (NASDAQ:DJT), citing previous Trump ventures that led to losses and bankruptcy. He highlighted potential conflicts of interest and the impact on the social media industry if Trump were to win the 2024 presidential election. Financial commentators and economists have mixed reactions, with some predicting significant gains for DJT, while others remain skeptical about its valuation.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 1:28 pm

AON

AXAHF

The collapse of Baltimore's Francis Scott Key Bridge, caused by a collision with a Singapore-flagged container ship, could lead to an unprecedented insurance payout of up to $4 billion, surpassing the Costa Concordia disaster's $1.5 billion. AXA SA (AXAHF) is the lead reinsurer, with Aon PLC (AON) and Chubb Ltd (CB) also implicated as the insurance broker and involved insurer, respectively. The final payout will depend on factors like port closure duration and business interruption coverage.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 12:42 pm

BALY

Bally's Corporation's special committee has engaged Macquarie Capital and law firms Potter Anderson & Corroon LLP and Sullivan & Cromwell LLP to evaluate a preliminary acquisition proposal from Standard General. No decisions have been made regarding the proposal, and there's no guarantee of a definitive offer or transaction completion.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 12:33 pm

NDIV

TINT

Chemours Company (NYSE:CC) shares dropped premarket after announcing the completion of an internal audit revealing delayed payments, accelerated receivables, and material weaknesses in financial reporting. Despite these issues, Q4 FY23 results exceeded expectations with net sales of $1.36 billion and adjusted EBITDA of $176 million. The company expects Q1 2024 net sales to be flat or slightly down and adjusted EBITDA to decrease by about 10%. Chemours also received court approval for a $592 million settlement of PFAS-related claims.

Portfolio Pulse from Lekha Gupta

March 28, 2024 | 12:16 pm