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BP

BP is facing pressure from activist investors to abandon its commitment to clean energy initiatives. These investors are pushing for a focus on more profitable oil and gas operations, challenging the company's strategy to transition towards more sustainable energy sources.

Portfolio Pulse from Charles Gross

January 29, 2024 | 9:40 am

AER

AL

BA

The aviation finance community is meeting in Dublin to discuss the impact of the Boeing 737 MAX 9 safety crisis on the $150 billion jet industry. This follows a recent in-flight incident with an Alaska Airlines 737 MAX 9, which led to an emergency landing due to a door plug blowout. The Federal Aviation Administration has halted any increase in 737 MAX production until Boeing addresses quality control issues. This could slow production, benefit leasing companies with increased returns, and raise lease rates for airlines. Key industry players like AerCap, SMBC Aviation Capital, Air Lease, and Avolon are in focus as the situation develops.

Portfolio Pulse from Benzinga Neuro

January 29, 2024 | 4:55 am

AMZN

Amazon MGM Studio is developing a movie about the $4 billion Bitfinex Bitcoin heist, focusing on the lives of Heather 'Razzlekhan' Morgan and Ilya Lichtenstein, who were involved in the 2016 hack. The film is directed by Hannah Marks, co-produced by Lili Reinhart, and based on a New York Times article. Morgan and Lichtenstein confessed to the theft and money laundering and could face up to 20 years in prison. Amazon has not released further details about the film's production or release dates.

Portfolio Pulse from Mehab Qureshi

January 29, 2024 | 4:03 am

EGRNQ

EVGRF

China Evergrande (OTC:EGRNQ) shares were halted following a Hong Kong court's liquidation order due to the company's massive $300 billion debt. The liquidation marks a significant event for China's financial markets, already facing economic slowdowns and a struggling property sector. Earlier, Evergrande's EV unit, China Evergrande New Energy Vehicle Group Ltd (OTC:EVGRF), saw a 23% drop in shares after the arrest of an executive director.

Portfolio Pulse from Benzinga Neuro

January 29, 2024 | 3:12 am

ADM

Archer-Daniels-Midland Co (ADM) has postponed executive performance bonuses due to an ongoing investigation into its accounting practices, particularly in the nutrition segment. The delay follows the sidelining of the CFO and a significant drop in ADM shares by 24%, the largest since 1929. The full-year 2023 financial results release has also been delayed, with the SEC requesting information on the Nutrition reporting segment and intersegment transactions.

Portfolio Pulse from Benzinga Neuro

January 29, 2024 | 1:52 am

ADM

ADM (Archer Daniels Midland Co) has delayed certain executive bonuses due to an ongoing accounting investigation. The nature of the accounting issues and the potential financial impact have not been disclosed. This postponement reflects the company's commitment to financial integrity and could affect investor confidence until the investigation is resolved.

Portfolio Pulse from Charles Gross

January 29, 2024 | 1:09 am

AMZN

TGT

VCR

WMT

XLY

A ProPublica investigation has revealed that Walmart Inc. (NYSE: WMT) is implicated in a fraud network involving gift cards and money laundering, with losses exceeding $1 billion from 2013 to 2022 according to the FTC. Despite Walmart's efforts to dismiss a lawsuit alleging negligence in preventing fraud, the company's financial services are under scrutiny for lack of effective anti-fraud measures. The case of Qinbin Chen, who laundered $7 million in Walmart gift cards, highlights the issue. Walmart's expansion into financial services, including the acquisition of One, raises concerns about its ability to manage these services amidst compliance issues. The situation may also impact related companies like Amazon.com Inc. (NASDAQ: AMZN) and Target Corporation (NYSE: TGT), as well as ETFs like XLY and VCR.

Portfolio Pulse from Bibhu Pattnaik

January 28, 2024 | 7:17 pm

DOGE-USD

ETH-USD

SHIB-USD

This week in cryptocurrency saw Dogecoin's value surge due to Elon Musk's X app, Trump sold over 1,000 Ethereum, a Colorado pastor admitted to crypto fraud, Trump profited from MAGA coin, and Shiba Inu's burn rate increased by over 4,200%. Dogecoin may be adopted by X/Twitter as a payment method, Trump's NFTs remain in demand, and Shiba Inu tokens were burned by anonymous entities.

Portfolio Pulse from Benzinga Neuro

January 28, 2024 | 12:57 pm

ME

23andMe Holding Co. (NASDAQ:ME) is being sued in a class action lawsuit for failing to protect the privacy of nearly 7 million customers in a data breach. The breach, which lasted from April to September 2023, specifically targeted customers with Chinese and Ashkenazi Jewish heritage. Personal information, including names, addresses, and birth dates, was sold on the dark web. The breach was disclosed after a hacker posted customer data on a subreddit. The lawsuit raises concerns about the potential misuse of the data amid rising antisemitism.

Portfolio Pulse from Nabaparna Bhattacharya

January 27, 2024 | 8:16 pm

TKO

Vince McMahon has resigned from TKO Group Holdings, Inc. (NYSE:TKO) and its subsidiary, WWE, amid allegations of sexual assault and trafficking. A lawsuit filed in Connecticut accuses McMahon and former WWE executive John Laurinaitis of rape and misconduct. McMahon has called the lawsuit a 'vindictive distortion' and intends to clear his name. The lawsuit also claims McMahon coerced the plaintiff into a nondisclosure agreement, paying only a portion of the agreed amount.

Portfolio Pulse from Nabaparna Bhattacharya

January 27, 2024 | 6:54 pm