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HE

SPY

House GOP has requested additional documents from Hawaiian Electric in an ongoing investigation. The probe's details are not specified, but the request indicates a heightened scrutiny of the company's operations or compliance with regulations.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 4:16 pm

AAPL

IWM

LULU

NKE

The article discusses opportunities in small and micro caps, highlighting the iShares Russell 2000 ETF (IWM) and its potential for significant growth. It mentions the Fed's decision to ignore inflation as positive for these caps. It also covers the impact of an antitrust lawsuit on Apple Inc (AAPL), causing a significant market value loss. Additionally, it notes the performance of various companies and ETFs, including Nike (NKE) and Lululemon Athletica (LULU), following earnings reports. The article also touches on China's currency weakening, money flows in major tech stocks, and the performance of gold, oil, and Bitcoin.

Portfolio Pulse from The Arora Report

March 22, 2024 | 4:08 pm

TM

Toyota Industries Corp has committed to a cultural overhaul and leadership restructuring following safety violations, including non-compliance with certification standards. This comes after Toyota Motor Corp (NYSE:TM) halted deliveries of 10 vehicle models due to irregularities in engine horsepower tests by an affiliate. The initiative aims to prioritize legal compliance and enhance transparency, with senior executives refunding part of their salaries. Additionally, Daihatsu Motor Co., another Toyota unit, faced issues with collision safety testing. Toyota Industries received a correction order from Japan's Ministry of Land, Infrastructure, Transport and Tourism in February 2024. Measures to prevent future scandals include increased staffing and management training at Daihatsu.

Portfolio Pulse from Shivani Kumaresan

March 22, 2024 | 3:40 pm

SPY

Republican U.S. Representative Marjorie Taylor Greene has called for a vote to oust Speaker Mike Johnson, according to Reuters citing Punchbowl. This political move could have implications for market sentiment and investor confidence, particularly in sectors sensitive to political stability and government policy.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 3:27 pm

LLY

NVO

PFE

Patients are suing Eli Lilly and Novo Nordisk, claiming severe side effects from diabetes and weight loss drugs Ozempic and Wegovy. Over 60 lawsuits have been filed against Novo Nordisk, with more expected. Eli Lilly also faces legal challenges. The lawsuits question the safety of GLP-1 agonists, despite the companies defending their drugs' efficacy. Pfizer reported high dropout rates due to side effects in a trial for obesity drug danuglipron. LLY shares rose, while NVO shares fell.

Portfolio Pulse from Vandana Singh

March 22, 2024 | 2:34 pm

ASML

BABA

BIDU

NVDA

Huawei Technologies Co and a Chinese chipmaking partner have developed a patent for self-aligned quadruple patterning (SAQP), potentially bypassing the need for ASML Holding NV's EUV lithography machines, which are restricted from sale to China by US export controls. This development could allow for the production of advanced semiconductors without ASML's technology. Following this news, ASML's stock price fell. Additionally, Huawei's advancements in semiconductor technology and strategic moves, such as outbidding Nvidia Corp for a significant AI chip order from Baidu Inc, alongside Alibaba Group Holding Limited's reported plans to reduce Nvidia chip orders, highlight a shift in the semiconductor landscape.

Portfolio Pulse from Anusuya Lahiri

March 22, 2024 | 2:30 pm

DWAC

Digital World Acquisition Corp. (NASDAQ:DWAC) shares are trading higher as shareholders vote on a merger with Trump Media & Technology Group (TMTG). If approved, TMTG will become a subsidiary of Digital World, which will then change its name to Trump Media & Technology Group Corp. Trump could gain ownership of 127.5 million shares, valued at approximately $5.6 billion. Trump's legal challenges, including a New York civil fraud case, are also highlighted. DWAC shares are up 12% at $47.97.

Portfolio Pulse from Erica Kollmann

March 22, 2024 | 2:16 pm

IDAI

Trust Stamp President Andrew Gowasack commented on the U.S. Court of Appeals for Fifth Circuit's decision, highlighting the significance for AI-based age estimation services. The decision supports the use of digital facial images for age verification, aligning with Trust Stamp's technology that ensures no biometric data is stored. The Texas statute, HB 1181, imposes penalties on non-compliant sites, indicating a potential rush for compliance. Gowasack sees vast opportunities for their AI-Powered solution in both online and in-person age verification applications.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 2:03 pm

AAPL

The US Justice Department and 17 states have filed a lawsuit against Apple Inc (NASDAQ:AAPL), accusing it of monopolizing the smartphone market by violating federal antitrust law. The lawsuit claims Apple used contractual terms to limit competition in areas such as text messaging, mobile payments, and app integration. This is part of a broader effort by regulators to address the power of Big Tech. Apple, now the world's biggest smartphone seller, disputes the lawsuit, arguing it compromises its ability to innovate. The case highlights Apple's shift from innovation to defending its market share amid increasing regulatory scrutiny and competition.

Portfolio Pulse from Upwallstreet

March 22, 2024 | 1:55 pm

AAPL

Former Microsoft executive Steven Sinofsky criticized the DOJ's lawsuit against Apple, calling it ideologically and politically driven rather than based on legal or business grounds. He particularly disapproved of quoting the late Steve Jobs in the lawsuit, arguing it's unfair since Jobs cannot defend himself. The lawsuit, which accuses Apple of locking customers and developers into its ecosystem, has sparked debate among industry figures, with some questioning its merit and timing.

Portfolio Pulse from Rounak Jain

March 22, 2024 | 1:54 pm