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Security

NPSCY

X

The White House has expressed concerns over the proposed acquisition of U.S. Steel (NYSE:X) by Japan's Nippon Steel (OTC:NPSCY), citing national security and supply chain implications. The $14.1 billion deal is under scrutiny by the Committee on Foreign Investment in the United States (CFIUS). U.S. Steel and Nippon Steel are cooperating with the review process. The United Steelworkers union and several legislators have also expressed concerns about the deal's impact on domestic steel production.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 1:12 pm

NVDA

Nvidia Corp (NASDAQ:NVDA) stock is trading lower due to the U.S. Department of Commerce's announcement of a new survey to analyze the U.S. semiconductor supply chain and national defense industrial base, with a focus on legacy chips and security risks related to China. Nvidia is already affected by the U.S. embargo on semiconductor and AI technology exports to China. The survey, mandated by the NDAA for FY 2021, aims to strengthen the supply chain and address national security concerns. NVDA shares dropped 0.47% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 22, 2023 | 12:34 pm

MARA

MULN

NKE

RIOT

TSLA

U.S. stocks were up with the Dow, S&P 500, and Nasdaq posting gains. Nike (NKE) fell in after-hours despite beating earnings due to revenue miss. Marathon Digital (MARA) surged on mining expansion and crypto optimism. Mullen Automotive (MULN) soared after vehicle delivery news and CARB certification. Riot Platforms (RIOT) increased modestly with Bitcoin's rise. Tesla (TSLA) rose despite potential safety issues in Norway.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 2:05 am

BC

Brunswick Corporation reported that a limited amount of sensitive personal data was impacted by a previously reported data security incident. However, the company believes there is no indication that the personal data has been or will be misused.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 11:02 pm

NVDA

TTWO

UBER

Arion Kurtaj, an 18-year-old hacker associated with the Lapsus$ group, has been sentenced to indefinite hospital detention for cybercrimes, including hacking into Take-Two Interactive's Rockstar Games and threatening to leak 'Grand Theft Auto VI' source code. He also caused significant damages to Uber Technologies and accessed customer data from Revolut. Despite being unfit for trial due to autism, he was found guilty of multiple offenses. His accomplice received a youth rehabilitation order.

Portfolio Pulse from Franca Quarneti

December 21, 2023 | 10:15 pm

SONY

A cyber breach at Sony's Insomniac Games has exposed internal challenges, including directives for staff cuts and budget constraints. Insomniac is pressured to reduce 50-75 positions, affecting teams on 'Spider-Man 3' and 'Wolverine'. Other PlayStation studios are also facing cuts, with one studio closure mentioned. 'Spider-Man 2' exceeded its budget by $30 million, highlighting the risks of triple-A game development. Sony's pivot to live service games is under review, with the cancellation of 'The Last of Us' multiplayer game.

Portfolio Pulse from Franca Quarneti

December 21, 2023 | 9:29 pm

VFC

V.F. Corporation (NYSE:VFC) stock is trading higher, recovering from a recent sell-off. The sell-off followed a mixed Q2 earnings report and a cyberattack announcement. The stock's rebound is attributed to a higher low uptrend since mid-November, positive October CPI data, a JP Morgan upgrade with a price increase, and the Fed's decision to leave rates unchanged. VFC hit a three-month high last Thursday before the sell-off, but shares have now recovered by nearly 7%.

Portfolio Pulse from Ryan Gustafson

December 21, 2023 | 8:51 pm

CSCO

Cisco Systems, Inc. (NASDAQ:CSCO) announced its intention to acquire Isovalent, Inc., a cloud-native networking and security company. This acquisition is aimed at enhancing Cisco's Security Cloud vision, which is an AI-driven, cloud-delivered, integrated security platform suitable for organizations of all sizes. Isovalent is a key contributor to eBPF and the development of Cilium, a leading solution for cloud-native networking and security. The Isovalent team will join Cisco's Security Business Group after the acquisition, expected to be completed in the third quarter of fiscal year 2024. Cisco's stock was trading down by 0.69% to $49.46 at the last check on Thursday.

Portfolio Pulse from Nabaparna Bhattacharya

December 21, 2023 | 7:20 pm

ADI

TXN

Texas Instruments (NASDAQ:TXN) and Analog Devices (NASDAQ:ADI) are implicated in a Bloomberg report for allegedly having their semiconductor chips reach Russian military-linked entities in 2023, despite U.S. export restrictions. The chips were shipped via Hong Kong, with over 17,000 Texas Instruments chips valued at $25 million delivered to Russian businesses, including some under U.S. sanctions. Both companies assert they ceased business with Russia in 2022 and oppose the use of their products in Russian military equipment. On the last check Friday, ADI shares rose by 2.09% to $196.22, and TXN shares increased by 1.35% to $167.38.

Portfolio Pulse from Nabaparna Bhattacharya

December 21, 2023 | 5:45 pm

FAF

First American Financial Corporation (NYSE:FAF) reported a cybersecurity incident, leading to certain systems being taken offline. The company is actively working to restore normal business operations and directs stakeholders to FirstAmUpdate.com for updates.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 5:07 pm