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AMKBY

The Francis Scott Key Bridge in Baltimore collapsed after a cargo ship operated by Synergy Group and chartered by AP Moller Maersk (OTC:AMKBY) struck it, leading to significant damages and presumed deaths. The bridge is a crucial part of the region's transportation network, affecting over 30,000 vehicles daily. The incident has global trade implications and is expected to result in substantial insurance payouts, potentially comparable to the $1.5 billion from the Costa Concordia crash. President Biden has pledged federal support for the bridge's reconstruction, while legal nuances regarding liability are being discussed.

Portfolio Pulse from Ramakrishnan M

March 27, 2024 | 10:24 am

HYW

Hywin Holdings Ltd. (NASDAQ:HYW) announced a strategic business transformation, shifting focus from traditional wealth management to public market funds, NAV-based products, and insurance brokerage services. The company plans to exit the distribution of asset-backed products, historically tied to real estate, due to adverse market conditions. Hywin aims to diversify income by developing health management services and expanding into consumer industries. The transformation includes a structural reorganization, eliminating around 300 positions, and the resignation of two senior executives effective March 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 10:04 am

DJT

Financial commentator Herb Greenberg criticized the valuation of Trump Media & Technology Group Corp (NASDAQ:DJT), suggesting it should be a penny stock if not for Trump's name. He highlighted the company's overhyped status and predicted its stock might fall below its current valuation without significant changes. The company's public debut has been controversial, marked by skepticism and legal challenges.

Portfolio Pulse from Benzinga Neuro

March 27, 2024 | 9:46 am

BTCUSD

FTX is seeking to nullify the value of tokens tied to its founder, Sam Bankman-Fried, in bankruptcy court, arguing they are worthless. The tokens in question include MAPS, OXY, SERUM, and BOBA, with claims exceeding $1.1 billion. The court is considering the valuation of these 'Sam Coins' amid debates on the inherent value of cryptocurrencies. The value of these tokens has significantly dropped, with MAPS, OXY, and SERUM experiencing declines of over 98%. Bankman-Fried faces legal consequences, having been found guilty of fraud.

Portfolio Pulse from Mehab Qureshi

March 27, 2024 | 8:56 am

TSLA

Elon Musk supports Marc Andreessen's call for accountability in the tech industry regarding the funding of controversial activist causes. Musk's endorsement on X highlights the need for tech leaders to scrutinize their support for activism that has led to negative outcomes. This stance aligns with Andreessen's criticism of major tech figures and suggests a shared concern for the ethical implications of tech industry funding.

Portfolio Pulse from Benzinga Neuro

March 27, 2024 | 8:28 am

TSLA

Tesla investor Ross Gerber mocked Elon Musk after X, formerly Twitter, lost a lawsuit against CCDH, aimed at silencing the nonprofit's free speech. The lawsuit's dismissal was seen as a defeat for Musk, who has been criticized by Gerber for negatively impacting Tesla's stock with his unfinished projects, including the full self-driving technology. Gerber suggests Tesla needs a new CEO or Musk to refocus on the company.

Portfolio Pulse from Rounak Jain

March 27, 2024 | 8:03 am

BA

Boeing Co's CEO, Dave Calhoun, is set to retire at the end of the year amidst ongoing safety and quality control issues. Despite the company's challenges, Calhoun is expected to leave with a retirement package worth millions, including stock, cash, and options. His tenure has been controversial, with criticism from industry leaders and a substantial payout similar to his predecessor's despite the company's performance issues.

Portfolio Pulse from Benzinga Neuro

March 27, 2024 | 7:05 am

AMZN

GOOG

META

SNAP

Meta Platforms Inc. (META) is accused of using a covert project named 'Project Ghostbusters' to intercept and decode network traffic from Snap Inc.'s Snapchat, as well as Alphabet Inc.'s YouTube and Amazon.com Inc., aiming to gain a competitive edge. The project, initiated in 2016, involved decrypting encrypted app traffic using Onavo, a VPN-like service acquired by Facebook. The revelations are part of a class-action lawsuit against Meta, highlighting ongoing legal challenges including a privacy investigation by the FTC and lawsuits over advertising and data collection practices.

Portfolio Pulse from Ananya Gairola

March 27, 2024 | 3:21 am

CEIX

CSX

NSC

A bridge collapse at the Port of Baltimore is delaying Consol Energy Inc.'s coal exports, impacting operations at its terminal. The collapse, caused by a non-Consol coal-carrying ship, has led to a safety zone establishment by the Coast Guard, affecting vessel access. Consol, deriving 60% of its revenue from exports, is working to minimize impacts. The incident also affects CSX Corp. and Norfolk Southern Corp., with both expecting operational delays. Consol's shares fell nearly 7% following the news.

Portfolio Pulse from Matt Whittaker

March 26, 2024 | 10:07 pm

MSFT

Activision, a subsidiary of Microsoft Corp. (NASDAQ:MSFT), has banned 29,000 players for using 'boosting services' in Call of Duty Warzone. These services allow players to artificially inflate their Skill Rating (SR), a practice that has become increasingly common. Activision's TeamRicochet has conducted multiple ban waves and is exploring technical and legal options to shut down these illicit services. Additionally, Activision launched Call of Duty Warzone Mobile with cross-progression features but without cross-play.

Portfolio Pulse from Franca Quarneti

March 26, 2024 | 9:43 pm