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AAPL

Epic Games announced its plans to proceed with the launch of the Epic Games Store and reintroduce Fortnite to iOS in Europe. This move comes after previous disputes with Apple (AAPL) regarding app store policies and revenue sharing.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 5:54 pm

AAPL

Epic Games announced that Apple has reinstated its developer account, allowing Epic Games to submit apps to the Apple App Store once again. This development follows a period of contention between the two companies, which began when Epic Games attempted to bypass Apple's in-app purchase system, leading to its developer account being suspended.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 5:53 pm

MSFT

Microsoft Corp. (NASDAQ:MSFT) has reported an ongoing cyberattack by Russian state-sponsored hackers, known as Nobelium or 'Midnight Blizzard', who have stolen some of Microsoft's source code by spying on senior executives' email accounts. The attack, which is a continuation of the group's activities including the SolarWinds breach, has not compromised customer-facing systems, but Microsoft is taking measures to assist potentially affected customers.

Portfolio Pulse from Rounak Jain

March 08, 2024 | 3:16 pm

SNAP

Snap shares are trading higher following the unanimous approval by the House Energy and Commerce Committee of a bill that would require ByteDance to divest TikTok. This legislative move is perceived positively for Snap as it could reduce competition in the social media space.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 2:55 pm

BA

Boeing Company (NYSE:BA) stock has triggered a Death Cross, indicating bearish sentiments. The stock is down 22% YTD, following a series of negative events including a 737 door blow-off incident, grounding of 737 Max 9s, lawsuits, and regulatory scrutiny for quality control and arms exports violations. The Death Cross, where the 50-day SMA falls below the 200-day SMA, suggests potential further declines. Investors are advised to be cautious and reevaluate their positions in light of these challenges.

Portfolio Pulse from Surbhi Jain

March 08, 2024 | 1:48 pm

COIN

PLTR

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin have seen significant spikes, with Bitcoin nearing all-time highs. The cannabis industry reacts positively to Biden's call for cannabis reform. Cathie Wood sells $13.15M worth of Coinbase shares, opting for Palantir stock instead. Tesla's Bitcoin investment yields a substantial unrealized profit. The S&P 500 surges to a new high, driven by tech giants and improved investor sentiment. Biden's economic policies and calls for cannabis reform mark significant political statements. Tesla faces a valuation drop and legal challenges, while the EV market sees competition from Rivian.

Portfolio Pulse from Akanksha Bakshi

March 08, 2024 | 1:12 pm

BGNE

NVS

SDZNY

Beigene has initiated patent infringement lawsuits against Sandoz and MSN Pharmaceuticals, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

March 08, 2024 | 11:09 am

META

South Korea's antitrust watchdog, the Korea Fair Trade Commission (FTC), is reportedly considering sanctions against Meta Platforms Inc. (NASDAQ:META) for alleged consumer protection failures on its Facebook and Instagram marketplaces. The FTC's investigation, which began last year, has progressed to the point where an examination report has been sent to Meta, accusing it of not taking sufficient steps to resolve disputes and protect users. This is part of a broader pattern of regulatory challenges Meta has faced regarding its marketplace operations.

Portfolio Pulse from Benzinga Neuro

March 08, 2024 | 9:44 am

TSLA

Tesla Inc (NASDAQ:TSLA) has reduced the estimated range of its Model Y Performance variant by 6 miles, now totaling a 24-mile reduction since the start of the year. The EPA estimated range is now 279 miles, down from 303 miles. This adjustment is attributed to vehicle enhancements and updated EPA testing guidance. Additionally, Tesla faces lawsuits alleging false advertising of vehicle ranges, with plaintiffs directed to individual arbitrations.

Portfolio Pulse from Anan Ashraf

March 08, 2024 | 8:14 am

TSLA

Tesla Inc (NASDAQ:TSLA) has experienced a significant market value decline of $234 billion in 2024, dropping its market cap to just over $550 billion, a 29% decrease in less than 10 weeks. This loss exceeds the market caps of McDonald's, Disney, and Nike combined. Despite a five-fold increase since 2020, Tesla's stock has fallen about 60% from its peak in November 2021. Factors contributing to this decline include reduced demand for electric vehicles, competition in China, and the impact of Federal Reserve's interest rate hikes. Challenges such as a suspected arson at its Giga Berlin factory and significant price reductions in China have further impacted Tesla's performance.

Portfolio Pulse from Benzinga Neuro

March 08, 2024 | 4:15 am