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NVDA

PANW

UNH

Nancy Pelosi and other Congress members have been actively trading Palo Alto Networks Inc (PANW) stock and options, with trades placed around the time of PANW's Q2 financial results. Pelosi's trades were disclosed after PANW's earnings report, which showed revenue and EPS beating estimates but with weaker guidance. The CEO of PANW hinted at a potential major government contract. Other Congress members also reported profitable trades in different stocks, highlighting their trading acumen. Additionally, UnitedHealth Group (UNH) reported a cybersecurity attack, working with Palo Alto Networks for resolution. Analysts have lowered price targets on PANW following its earnings.

Portfolio Pulse from Chris Katje

March 04, 2024 | 4:19 pm

JBLU

SAVE

The Justice Department has declared the termination of the JetBlue and Spirit Airlines merger as a victory for its efforts to protect American consumers. It emphasizes its commitment to vigorously enforcing the nation's antitrust laws.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 4:02 pm

FQVLF

RBC Capital Markets upgraded First Quantum Minerals (OTC:FQVLF)(TSE: FM) from Sector Perform to Outperform, raising the price target from C$17 to C$18, citing the S3 expansion at Kansanshi and potential value recovery in Panama. The company's recent financing and covenant increase provide room for growth, with copper production expected to rise from 377kt in 2023 to 427kt by 2025. The outcome of the May 5 election and ongoing international arbitration seeking U$20B could further impact the company's value.

Portfolio Pulse from Priya Nigam

March 04, 2024 | 3:55 pm

NYCB

RNA

SAVE

TSLA

U.S. stocks were lower on Monday, with significant movements in several companies. Tesla's shares fell 5.4% due to a reported decline in China sales. Other notable movements include Avidity Biosciences dropping 16.6% after announcing trial data, New York Community Bancorp declining 13.6% due to identified material weaknesses, and Spirit Airlines dipping 12.1% after terminating its merger with JetBlue. Various other stocks also recorded losses.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 3:40 pm

DWAC

PHUN

SPY

The Supreme Court has ruled to place Donald Trump back on Colorado's GOP primary ballot, overturning a previous decision by Colorado's Supreme Court which had barred him due to his involvement in the Jan. 6, 2021, Capitol riot. This decision comes amidst ongoing legal battles in other states like Maine and Illinois, where Trump's eligibility is still under appeal.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 3:03 pm

LLAP

Terran Orbital Corporation (NYSE:LLAP) announced the adoption of a limited duration stockholder rights plan following a non-binding proposal from Lockheed Martin to acquire all outstanding shares. The plan aims to protect stockholder interests and ensure they realize full investment value. An independent committee will evaluate the Lockheed Proposal and other strategic alternatives. The Rights Plan discourages control through open market accumulation without a fair premium and encourages negotiation with the Board.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 2:08 pm

NSC

Norfolk Southern Corporation (NYSE:NSC) addresses false claims about its safety record and management compensation, emphasizing its commitment to safety and shareholder alignment. The company corrected misrepresentations following a derailment in Lower Saucon Township, PA, highlighting a 42% reduction in its mainline accident rate in 2023 and its comprehensive safety initiatives. It also clarified CEO Alan Shaw's compensation adjustments, countering claims of a 37% pay raise and detailing the performance-based nature of executive compensations. Norfolk Southern is engaging with Ancora to avoid a proxy contest, defending its board and management strategy to protect shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 1:54 pm

AAPL

SPOT

Apple Inc. has been fined €1.8 billion ($1.95 billion) by the EU for antitrust violations, specifically for restricting Spotify and other music streaming services from informing users about alternative payment options outside its App Store. The fine, stemming from a 2019 Spotify complaint about Apple's 30% App Store fees, is intended as a deterrent. Apple plans to challenge the decision in court and is also seeking to settle another EU antitrust investigation related to its mobile payment systems.

Portfolio Pulse from Rounak Jain

March 04, 2024 | 1:32 pm

GOOG

GOOGL

A former Google engineer warned over five years ago about the inevitable threat AI posed to Google's search engine, a concern that has resurfaced with Google's mishandling of its Gemini AI chatbot. Despite the company's significant reliance on search revenue, which accounted for 56% of its total revenue in Q4 2023, Google's leadership has acknowledged issues with Gemini's quality control. The ongoing antitrust lawsuit against Google has brought to light internal emails from Eric Lehman, the engineer, predicting the rise of AI over traditional search methods.

Portfolio Pulse from Rounak Jain

March 04, 2024 | 1:28 pm

COWZ

GOOG

GOOGL

On CNBC's 'Halftime Report Final Trades,' analysts highlighted Pacer US Cash Cows 100 ETF (COWZ) for its 8.5% free cash flow yield, Citigroup Inc. (C) for bullish sentiment in big financials, and Alphabet Inc. (GOOG/GOOGL) as undervalued. Citigroup announced a full redemption of Series J preferred stock and reported a Q4 FY23 revenue decline. Alphabet faces a 2.1-billion-euro lawsuit from media groups over digital advertising practices.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 1:24 pm