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Legal

DWAC

SPY

Former U.S. President Trump has announced his intention to appeal the trial date given in a federal election case, according to a report by Reuters citing Truth Social. The news may have implications for Digital World Acquisition Corp. (DWAC) and SPDR S&P 500 ETF Trust (SPY).

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 6:42 pm

VRNOF

Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF) is facing challenges in Alabama as the state's cannabis regulators prepare to redo medical marijuana's license allocations for the third time. Verano, which had secured one of Alabama's highly sought-after licenses in June, lost its chance to enter the market when the Alabama Medical Cannabis Commission (AMCC) chose Insa Alabama LLC instead. Verano's CEO, George Archos, has written to Governor Kay Ivey, stating the company's readiness to invest at least $40 million in Alabama.

Portfolio Pulse from Jelena Martinovic

August 28, 2023 | 4:57 pm

RAD

TUP

YELL

Rite Aid Corporation (RAD) shares are trading higher after a significant drop on Friday. The company is reportedly preparing for a bankruptcy filing due to lawsuits related to the opioid crisis. The stock has attracted attention from retail investors and short-sellers, with 16% of available shares being sold short. Retail investors have also shown interest in other struggling companies, including Yellow Corporation (YELL) and Tupperware Brands Corporation (TUP).

Portfolio Pulse from Erica Kollmann

August 28, 2023 | 4:36 pm

MMM

3M Company (NYSE:MMM) shares are trading higher following reports of a tentative $5.5 billion settlement over more than 300,000 lawsuits related to defective combat earplugs sold to the U.S. military. The settlement allows 3M to avoid potentially larger settlements related to the earplug cases. The stock is experiencing heavy trading volume, with over 3.94 million shares traded in the session, compared to the 100-day average of 3.755 million shares. The shares are up 4.7% at $103.64.

Portfolio Pulse from Erica Kollmann

August 28, 2023 | 4:34 pm

AGIL

FFIE

GDC

HE

HT

NVCR

U.S. stocks traded higher with the Dow Jones gaining over 150 points. Hersha Hospitality Trust (NYSE:HT) announced a merger with KSL Capital Partners, causing its shares to rise by 56%. Hawaiian Electric Industries (NYSE:HE) shares rose by 35% after the company responded to a lawsuit. GD Culture Group Limited (NASDAQ:GDC) shares rose by 64% after the launch of a live-streaming e-commerce business on TikTok. However, AgileThought (NASDAQ:AGIL) shares dropped by 29% after a downgrade from Buy to Sell. NovoCure Limited (NASDAQ:NVCR) shares fell by 33% after a failed trial, and Faraday Future (NASDAQ:FFIE) shares fell by 25% after a reverse stock split.

Portfolio Pulse from Lisa Levin

August 28, 2023 | 4:03 pm

DWAC

SPY

The trial for former President Trump in the Department of Justice's 2020 election case has been set for March 4, 2024. The news may impact the stocks of Digital World Acquisition Corp (DWAC) and SPDR S&P 500 ETF Trust (SPY).

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 3:28 pm

AAL

The U.S. Department of Transportation (DOT) has fined American Airlines $4.1 million for violating federal statutes and the Department’s rule prohibiting tarmac delays of three hours or more on domestic flights without providing passengers an opportunity to deplane. This is the largest fine ever issued for tarmac delay violations. The investigation found that between 2018 and 2021, American allowed 43 domestic flights to remain on the tarmac for lengthy periods without providing passengers an opportunity to deplane, affecting a total of 5,821 passengers.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 3:21 pm

SPY

The US Securities and Exchange Commission (SEC) is investigating The Change Company, a California-based lender, over its mortgage-backed securities. The regulator is also probing actions of the company's CEO, Steven Sugarman. The Change Company's loans have been backed by some of Wall Street's largest money managers.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 3:19 pm

AAPL

Apple Inc. (NASDAQ:AAPL) is facing complaints from users about the iPhone 14 battery health degrading faster than previous models. This comes as Apple is about to issue settlements for the 2017 batterygate issue. Many users have reported a significant drop in battery health, with some reporting it has fallen to the low 90s and high 80s. Apple's policy suggests that most of these complaints will not be serviced under warranty.

Portfolio Pulse from Rounak Jain

August 28, 2023 | 3:18 pm

DG

DIS

Ron DeSantis reaffirmed his opposition to marijuana legalization at a campaign event, citing concerns about potential adulteration with fentanyl. He was booed at a prayer vigil following a racially-motivated shooting at a Dollar General store. DeSantis's 'war on woke' campaign, which includes a battle with Walt Disney Co, has been criticized for its impact on the Black community.

Portfolio Pulse from Maureen Meehan

August 28, 2023 | 2:01 pm