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Regulatory

NXU

NXU Technologies has filed a U.S. patent application (#20240010087) for systems and methods related to charging electric vehicles. The patent application details are publicly available through the USPTO. The company's public float is 1,224,282 shares.

Portfolio Pulse from Charles Gross

January 11, 2024 | 10:50 am

AAPL

Apple Inc. was warned about security vulnerabilities in its AirDrop feature before an alleged breach by China's Beijing Institute, which claims to have extracted iPhone users' details through AirDrop. Security experts have confirmed the possibility of extracting sender details from device logs, and researcher Alexander Heinrich noted that Apple was aware of these issues. Apple has been granted a patent for a new version of AirDrop using light, which could be more secure. The company had previously restricted AirDrop in China during anti-government protests.

Portfolio Pulse from Ananya Gairola

January 11, 2024 | 10:13 am

HPE

JNPR

Hewlett Packard Enterprise Co's CEO Antonio Neri is confident that the company's $14 billion acquisition of Juniper Networks Inc will face no significant regulatory hurdles in China. Despite Juniper's undisclosed revenue from China, Neri believes the small footprint will avoid complications. The deal is expected to enhance HPE's AI computing offerings and is anticipated to close within 9-12 months. Juniper's stock has risen about 20% after a 52-week low in October, benefiting from technological advancements and new deployments in Asia.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 9:35 am

CMI

Cummins Inc. (NYSE:CMI) is ordered to recall 600,000 Ram Trucks and pay a $2 billion penalty due to an emissions cheating scandal. The DOJ announced the details of a December settlement where Cummins is accused of using devices to evade emissions testing. The penalty includes a $1.67 billion civil fine and $325 million for remedial actions, marking the highest penalty under the Clean Air Act. Cummins stated the settlement involves no new financial commitments beyond those previously announced.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 9:31 am

AAPL

MASI

The U.S. International Trade Commission (ITC) has opposed Apple Inc.'s request to delay an import ban on certain Apple Watch models, despite a temporary relief granted by a U.S. appeals court. The ITC found Apple's arguments weak and speculative, maintaining there was no legal error in its October 2023 decision. Apple, accused of infringing Masimo Corporation's patents, has been selling the affected models since December 27 and is working on non-infringing software versions while appealing the ITC decision.

Portfolio Pulse from Rounak Jain

January 11, 2024 | 8:43 am

BR

Broadridge Financial Solutions, Inc. (NYSE:BR) has partnered with Boring Money to offer a solution for asset managers that integrates product analysis with consumer insights. This collaboration aims to help asset managers comply with the UK's Consumer Duty regulation. Financial terms of the deal were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:13 am

ARKB

BLK

Ark Invest, led by Cathie Wood, has teased potential investors about its Bitcoin ETF in partnership with 21Shares, following SEC's nod for its application. The firm is offering a fee waiver for the first six months or until the fund reaches $1 billion in AUM, with a reduced expense ratio of 0.21% thereafter. BlackRock has also cut fees for its iShares Bitcoin Trust to compete in the market. The SEC's decision on the Spot Bitcoin ETF approval is highly anticipated.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 7:48 am

BTCUSD

Robert Kiyosaki, author of 'Rich Dad Poor Dad,' has purchased 5 more Bitcoin following the SEC's approval of Bitcoin ETFs. He expressed concerns over potential hyperinflation and reiterated his trust in Bitcoin over traditional leadership, raising his price target for Bitcoin to $150,000. Kiyosaki also mentioned his personal financial strategy, highlighting his $1.2 billion debt and his indifference towards the potential consequences for the banks.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 7:37 am

BA

TSLA

UAL

Elon Musk has been criticized by civil rights groups for suggesting that diversity hiring at Boeing (BA) and United Airlines (UAL) compromises air travel safety. The NAACP and National Urban League condemned Musk's comments, which linked the Boeing 737 Max 9 safety issues to DEI initiatives. Musk, CEO of X (formerly known as Twitter), has also faced backlash for promoting hate speech and white supremacist theories on the platform. The European Union is investigating X's content moderation policies. Allegations of racial harassment at Tesla (TSLA), another Musk-led company, were also highlighted by the National Urban League.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 7:09 am

INFN

Infinera Corporation expects its preliminary revenue and net income per diluted share for Q3 and Q4 of 2023 to be within or exceed the previously provided estimates. Q3 and Q4 estimates were $421M-$451M and $0.05-$0.13 per share, respectively. The company attributes this performance to strong bookings and free cash flow generation in Q4. CFO Nancy Erba expressed satisfaction with the financial results and the company's focus on filing the Q3 Form 10-Q. Infinera also submitted a compliance plan to Nasdaq on January 9, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:41 am