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CMI

Truist Securities analyst Jamie Cook initiated coverage on Cummins Inc (NYSE:CMI) with a Hold rating and a $303 price target. Cummins, a global diesel engine manufacturer, was recently fined $2 billion for emission issues related to Dodge Ram trucks. The fine impacts its capital allocation, directing free cash towards debt payment from the Meritor acquisition and rebuilding its balance sheet, rather than returning cash to shareholders. Despite this, Cummins is expected to see growth in 2025 and 2026 due to a pre-buy ahead of the 2027 emissions change for trucks. Cummins has also gained share in the medium-duty overseas market, potentially adding at least $2.50 in EPS Power. The $303 price target is based on 9X EV/EBITDA and 16X P/E multiple on 2025 estimates, discounted back. CMI shares dropped 2.66% to $263.07.

Portfolio Pulse from Shivani Kumaresan

March 14, 2024 | 6:39 pm

BA

Europe's aviation authority, EASA, may withdraw its endorsement of Boeing's (NYSE:BA) manufacturing safety certifications due to concerns over quality control lapses, including a recent incident involving a 737 MAX 9 jet. An audit by the FAA revealed issues at Boeing and its supplier, Spirit AeroSystems, putting the transatlantic safety pact at risk. EASA's acting executive director, Luc Tytgat, stated that while no immediate action is planned, stricter measures could be imposed if necessary. Boeing's shares slightly increased by 0.05% to $182.45.

Portfolio Pulse from Akanksha Bakshi

March 14, 2024 | 6:25 pm

AAPL

A Reddit user, ConstantOne5578, analyzed Warren Buffett's decision not to sell Apple Inc (AAPL) shares despite market fluctuations and strategic shifts. The analysis highlights Buffett's long-term investment strategy and the significant tax implications of selling AAPL shares, which constitute over 80% of Berkshire's investment. Concerns about Apple's strategy, including its move towards ads and regulatory pressures, were also discussed. Other Reddit users contributed to the discussion, emphasizing Buffett's investment rationale and the importance of dividends, share buybacks, and stock appreciation.

Portfolio Pulse from Surbhi Jain

March 14, 2024 | 6:11 pm

BA

Representative William Keating sold shares and notes of The Boeing Company (NYSE:BA) on Feb. 28, right before the DOJ announced an investigation into Boeing on Feb. 29. The sale has drawn scrutiny due to potential insider trading, as Keating sits on the Armed Services Committee. Boeing shares have fallen 29% year-to-date in 2024, and the sale potentially saved Keating from future losses. The FAA is also investigating Boeing for recent mishaps, adding to the company's challenges.

Portfolio Pulse from Chris Katje

March 14, 2024 | 5:36 pm

PLTR

Palantir Technologies Inc's CEO, Alex Karp, criticized short sellers, accusing them of having cocaine habits to fund their activities against American companies. Prominent short sellers, including Jim Chanos and John Hempton, refuted Karp's claims, highlighting insider sales at Palantir, particularly pointing to co-founder Peter Thiel's recent stock sale. Despite the controversy, Palantir's stock has seen significant growth, driven by its positioning in the AI space, with shares up about 41% year-to-date but down 2.66% at the time of writing.

Portfolio Pulse from Adam Eckert

March 14, 2024 | 5:24 pm

WW

WW International shares are trading lower due to continued weakness after a 9finHQ editor's X post suggested the company is preparing for debt talks by hiring lawyers.

Portfolio Pulse from Benzinga Newsdesk

March 14, 2024 | 5:14 pm

CLF

NISTF

X

President Joe Biden and Donald Trump have both expressed opposition to Nippon Steel Corp's (OTC:NISTF) acquisition of United States Steel Corporation (NYSE:X) for $14.1 billion, emphasizing the importance of keeping the company American-owned. U.S. Steel shares dropped 2.8% following the report. Cleveland-Cliffs Inc. (NYSE:CLF) had previously made a bid for U.S. Steel, which was rejected.

Portfolio Pulse from Nabaparna Bhattacharya

March 14, 2024 | 5:05 pm

AAPL

GOOG

META

SNAP

The U.S. House of Representatives passed a bill requiring TikTok's parent company, ByteDance, to divest its holdings or face a U.S. ban. This could benefit rival social media platforms like Meta Platforms, Alphabet's YouTube, and Snap Inc, as TikTok users may migrate to these platforms. The bill now moves to the Senate, and if passed, ByteDance has five months to comply. The potential ban could remove TikTok from Apple and Alphabet's app stores, affecting future downloads and updates. Several members of Congress, who own stock in these social media companies, voted in favor of the bill, raising conflict of interest concerns.

Portfolio Pulse from Chris Katje

March 14, 2024 | 5:03 pm

UNH

UnitedHealth Group's subsidiary Change Healthcare has restored its pharmacy network after a cyberattack by the 'Blackcat' ransomware gang. The attack disrupted the U.S. healthcare infrastructure, leading to at least six class action lawsuits against UnitedHealth for negligence and privacy law violations. Despite restoring over 99% of pre-incident claim volume, the company faces ongoing legal challenges and a federal investigation. UNH shares slightly dropped by 0.13% to $487.36.

Portfolio Pulse from Vandana Singh

March 14, 2024 | 4:34 pm

GTBIF

Green Thumb Industries Inc. (GTBIF) is expanding its operations in anticipation of recreational marijuana legalization in several states and is strategically managing its finances through share buybacks and debt repurchase. Despite a recent 13% decrease in stock price, the company's valuation remains above the industry average, reflecting investor confidence. The cannabis sector's future growth is tied to legislative changes and state-level market expansions.

Portfolio Pulse from Nicolás Jose Rodriguez

March 14, 2024 | 3:59 pm