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Regulatory

BA

Boeing Co. (NYSE:BA) has agreed to a $51 million settlement with the U.S. State Department for unauthorized exports of technical data to China and Russia, violating the Arms Export Control Act and International Traffic in Arms Regulations. The violations, occurring between 2013 and 2017, were disclosed by Boeing between 2017 and 2022. The settlement includes a two-year oversight by a special compliance officer and a $24 million suspension of the penalty if used to enhance Boeing's compliance program. This follows other regulatory challenges for Boeing, including a grounding order for some 737 Max 9 jets.

Portfolio Pulse from Benzinga Neuro

March 01, 2024 | 3:30 am

DOGE-USD

A property in Portugal has been listed for sale in Dogecoin (CRYPTO: DOGE), marking a significant move towards integrating digital currency with real estate. This initiative, led by Dogecoin developer Paulo Vidal and facilitated by Remax Portugal, demonstrates the growing acceptance of cryptocurrencies. The transaction process is integrated into Remax's system, allowing payments in Dogecoin without altering the agency's existing infrastructure. This development not only showcases Dogecoin's potential beyond an internet currency but also sets a precedent for cryptocurrency in real estate transactions.

Portfolio Pulse from Murtuza Merchant

March 01, 2024 | 12:45 am

RIDEQ

The SEC has charged Lordstown Motors with misleading investors by exaggerating the demand for its flagship EV, the Endurance. Despite claiming over 100,000 pre-orders, many were from companies without fleets or intent to purchase. Lordstown, which went public via a SPAC merger in 2020, filed for bankruptcy in 2023.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:43 pm

BAC

BLK

HOOD

MS

SCHW

UBS

WFC

Merrill (Bank of America Corp.) and Wells Fargo & Co. have started offering Bitcoin ETFs to their wealth management clients, following SEC's approval of Bitcoin ETFs. This move is part of a broader trend with firms like Charles Schwab Corp., Robinhood Markets Inc., UBS Group AG, and potentially Morgan Stanley exploring similar offerings. BlackRock Inc. and Fidelity Investments have seen significant inflows into their Bitcoin ETFs, indicating strong demand. However, Vanguard Group Inc. remains skeptical about cryptocurrency investments.

Portfolio Pulse from Murtuza Merchant

February 29, 2024 | 10:18 pm

NRGV

Energy Vault Holdings, Inc. (NRGV) announced the interconnection of its first EVx 100 MWh gravity energy storage system in Rudong, China, and the groundbreaking of three additional systems. These developments are part of a larger expansion in China, with nine EVx systems totaling 3.7 GWh under construction. The Rudong and Zhangye City systems have been designated as 'new energy storage pilot demonstration projects' by China's National Energy Administration. This recognition and the ongoing construction underscore the growing adoption of Energy Vault's technology in China's renewable energy sector.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:01 pm

NYCB

New York Community Bancorp (NYCB) has identified material weaknesses in its internal controls over loan review due to ineffective oversight, risk assessment, and monitoring. The company expects to report in its 2023 Form 10-K that its disclosure controls and procedures, as well as internal control over financial reporting, were not effective as of December 31.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:55 pm

FSR

Fisker Inc. has indicated that it expects to express substantial doubt about its ability to continue as a going concern in its upcoming annual financial statements filed with the SEC. This announcement raises concerns about the company's future viability and financial stability.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:38 pm

FSR

Fisker reported preliminary Q4 2023 total revenue of $200.1M, missing the estimated $310.795M. The company also announced a delay in filing its Annual Report on Form 10-K for the year ended December 31, 2023, due to needing more time to finalize its consolidated financial statements.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:29 pm

NUZE

NuZee, Inc. has received a notification from Nasdaq regarding its non-compliance with the minimum bid price requirement. The company's stock, NUZE, has been trading below the required $1.00 minimum bid price for 30 consecutive business days. NuZee now has a compliance period of 180 calendar days to regain compliance by having its common stock's closing bid price meet or exceed $1.00 for at least ten consecutive business days.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:23 pm

TANH

Tantech Holdings Ltd. has received a notification from NASDAQ regarding its failure to meet the minimum bid price requirement. The company's stock price has been below $1 for a consecutive 30-day period, which is against NASDAQ's listing rules. Tantech is now required to regain compliance within 180 days by having its stock price meet or exceed $1 for at least ten consecutive business days.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 9:21 pm