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DWAC

SPY

A New York judge has found Donald Trump liable in a civil fraud case brought by the New York Attorney General, according to Reuters. This ruling could have implications for companies and ETFs associated with Trump.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 8:02 pm

MDLZ

Mondelez International, Inc. is restructuring its European operations in response to boycotts stemming from its continued business activities in Russia, as reported by Reuters citing an internal memo. The company is facing backlash for not withdrawing from the Russian market following the country's military actions, leading to calls for boycotts that have prompted this strategic shift.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 7:01 pm

SCLX

Scilex Holding announced that Scilex Pharma entered into two separate settlement agreements with two manufacturers on Jan 26 and Feb 2, resolving a legal action from Feb 23, 2021. The terms of the settlements are confidential, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 6:14 pm

RILY

B. Riley Financial, Inc. (NASDAQ:RILY) shares dropped over 7% following a critical report by The Bear Cave, which B. Riley has since addressed. The report raised concerns about the departure of their audit partner at Marcum LLP, the collateral of a significant loan, and regulatory matters. B. Riley refuted these claims, stating they maintain a first lien on the loan's collateral and accusing The Bear Cave of market manipulation.

Portfolio Pulse from Erica Kollmann

February 16, 2024 | 4:33 pm

DIS

Disney board member Carolyn Everson stated in a CNBC interview that Nelson Peltz has not presented a strategic plan or idea that would justify his inclusion in the boardroom.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 2:27 pm

MQ

SQ

V

WFC

Federal regulators are investigating allegations by whistleblowers that Cash App, operated by Block Inc., and its partners, including Visa Inc., Wells Fargo, Marqeta Inc., and Lincoln Savings Bank, have inadequate customer due diligence processes, potentially facilitating money laundering and terrorism financing. The complaints highlight transactions with sanctioned entities, offshore gambling sites, and the sale of illegal data. The Financial Crimes Enforcement Network (FinCEN) and other federal agencies are reviewing these allegations. Cash App's popularity and rapid growth, with 55 million active accounts and significant financial inflows, are contrasted with concerns over its due diligence and the risks to shareholders of Block Inc., Marqeta Inc., and Visa Inc.

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 1:48 pm

AAPL

The cybersecurity firm Group-IB has identified the first iOS trojan, named 'GoldDigger', targeting Apple Inc.'s iPhone and iPad users. This trojan aims to steal facial recognition data and use AI-generated deepfakes for bank theft. Initially distributed via Apple's TestFlight, it now uses a Mobile Device Management profile for broader distribution. Although primarily targeting users in Vietnam and Thailand, it poses a global threat. Apple has been informed and is likely working on a fix.

Portfolio Pulse from Rounak Jain

February 16, 2024 | 1:46 pm

DWAC

Digital World Acquisition Corp. (DWAC) received SEC approval for its merger with Trump Media & Technology Group, potentially benefiting Donald Trump with over $3.94 billion in shares. The merger, subject to a six-month lock-up, could significantly impact Trump's financial situation amidst legal challenges. DWAC's stock surged 16.10% following the announcement.

Portfolio Pulse from Shanthi Rexaline

February 16, 2024 | 7:05 am

PANW

Wedbush's Dan Ives has raised the price target for Palo Alto Networks (NASDAQ:PANW) to $425, indicating a 16% upside, based on strong cybersecurity market dynamics and increasing cloud deal momentum. Ives highlights the 'golden age of cybersecurity' with PANW at the forefront, supported by solid field checks and a favorable position in the federal sector. The recent SEC guidelines are expected to further benefit PANW and its peers. Despite a recent patent lawsuit verdict against PANW, the company's stock is seen as resilient with significant growth potential.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 6:17 am

LCID

TSLA

Lucid Group Inc (NASDAQ:LCID) announced a $6 million cash bonus for CEO Peter Rawlinson, recognized for his contributions to the Lucid Gravity SUV unveiling. Elon Musk criticized the bonus on X, suggesting it's inversely proportional to performance. Lucid's stock has fallen 65.9% over the past year, despite a recent 5.2% increase.

Portfolio Pulse from Anan Ashraf

February 16, 2024 | 2:47 am