Streetbeat News

Security

META

The Wall Street Journal reports that Meta Platforms Inc. will begin fully encrypting messages on Facebook and Instagram. This move towards enhanced privacy could affect user trust and regulatory scrutiny.

Portfolio Pulse from Charles Gross

December 07, 2023 | 9:50 am

MULN

Mullen Automotive, Inc. has filed a federal lawsuit against UBS Securities, IMC Financial Markets, and Clear Street Markets, alleging market manipulation through spoofing, which artificially deflated Mullen's stock prices. The complaint, filed in the Southern District of New York, claims this activity occurred between Nov. 9, 2021, and Nov. 9, 2023, and could result in damages in the billions. The lawsuit aims to protect shareholder equity and address the significant impact on Mullen's share price.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:06 pm

JPM

JPMorgan Chase & Co. CEO Jamie Dimon testified before a U.S. Senate Committee, criticizing Bitcoin and cryptocurrencies, suggesting the government should shut them down due to their use in illegal activities. Social media users mocked Dimon, accusing him of being out of touch and highlighting the use of fiat in criminal activities. Some users expressed intentions to close their Chase accounts or defended cryptocurrencies as a symbol of freedom.

Portfolio Pulse from Murtuza Merchant

December 06, 2023 | 6:37 pm

SPY

VGK

President Biden has urged Congress to pass supplemental funding for Ukraine before the holiday recess, emphasizing the urgency of continued support for the country amidst ongoing conflict.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 5:45 pm

TSLA

Elon Musk praised Tesla's AI as the best in real-world applications, but former employee Lukasz Krupski challenged the safety of Tesla's Autopilot feature, citing public road safety concerns. Krupski leaked confidential Tesla data revealing customer complaints about the Autopilot system, including sudden accelerations and phantom braking. Tesla's legal team dismissed Krupski as a disgruntled ex-employee who misused his position. The leaked data included reports of accidents while Autopilot was engaged.

Portfolio Pulse from Bibhu Pattnaik

December 06, 2023 | 5:17 pm

SPY

VGK

The U.S. is set to announce an additional $175 million in military aid for Ukraine, according to a U.S. official cited by Reuters. This move is part of the ongoing support from the U.S. to assist Ukraine amidst the conflict in the region.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 4:36 pm

EWW

SPY

U.S. Treasury Secretary Yellen has identified the Beltran Leyva Organization as one of the largest cocaine suppliers in the U.S., now also significantly involved in the manufacturing and trafficking of fentanyl, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 4:33 pm

EWW

SPY

The U.S. Treasury has announced OFAC sanctions against 15 individuals and two Mexican companies linked to the Beltran Leyva Organization in Mexico. These sanctions are part of the ongoing efforts to disrupt the financial activities of international drug trafficking organizations.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 4:32 pm

FMS

Fresenius Medical Care (NYSE:FMS) reported a significant data breach affecting its subsidiary Cardiovascular Consultants, Ltd. (CVC), potentially impacting 500,000 patients and 200 staff. Sensitive employee information and patient data were compromised. The company is providing credit monitoring services and investigating the breach's impact on another subsidiary, Fresenius Vascular Care, Inc. Despite the breach, Fresenius does not anticipate a material impact on its financials. FMS stock dropped by 0.98% to $20.14.

Portfolio Pulse from Nabaparna Bhattacharya

December 06, 2023 | 4:28 pm

EIS

USO

Yemen's Houthi rebels have launched several ballistic missiles towards Eilat, Israel, according to a statement cited by Reuters. The geopolitical tensions in the region could potentially affect oil prices and market stability.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 4:17 pm