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TSLA

XLY

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), is facing a lawsuit accusing him of insider trading, filed by the Employees' Retirement System of Rhode Island. The lawsuit alleges Musk and his brother sold $30 billion worth of Tesla shares before negative news impacted stock prices. The timing coincides with a shareholder vote on Musk's $56 billion compensation package. Tesla stock has lost over 31% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

June 12, 2024 | 11:56 am

GME

Citron Research announced they are no longer shorting GameStop (GME), despite not believing in a fundamental turnaround for the company. They acknowledge GME's $5 billion in cash and the market's irrationality, even as Wedbush sets an $11 price target.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:56 am

THMO

ThermoGenesis Holdings shares are trading lower after the Nasdaq denied the company's request for continued listing. The stock will be suspended at the opening of business on June 17, 2024.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:55 am

AAL

LUV

UAL

Southwest Airlines (NYSE:LUV) is under pressure from Elliott Investment Management, which recently acquired a $1.9 billion stake, to reconsider its 'bags fly free' policy. Elliott is pushing for strategic changes, including the introduction of baggage fees, which could impact Southwest's customer loyalty. The airline's CEO, Bob Jordan, reaffirmed the commitment to the free bag policy, but potential compromises may be on the horizon.

Portfolio Pulse from Shivani Kumaresan

June 12, 2024 | 11:54 am

JNJ

Johnson & Johnson (NYSE:JNJ) has agreed to pay $700 million to settle a multi-state investigation into its talc-based products, which were alleged to cause cancer. The settlement involves 42 U.S. states and Washington, D.C. Despite the settlement, J&J has not admitted to any wrongdoing and still faces numerous lawsuits related to its talc products.

Portfolio Pulse from Benzinga Neuro

June 12, 2024 | 11:53 am

RBRK

Rubrik shares are trading higher after the company reported a year-over-year increase in Q1 sales results and issued Q2 revenue guidance above estimates. Additionally, the company provided FY25 guidance above estimates.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:43 am

RTO

Rentokil shares are trading higher following a report suggesting Trian has amassed a stake in the company.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:37 am

NVGS

Navigator Holdings Ltd. (NYSE:NVGS) announced the upsize and pricing of a secondary public offering of 7 million shares by BW Group Limited at $15 per share. The offering is expected to close around June 13, 2024, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:37 am

BTCUSD

Billionaire investor Bill Miller believes Bitcoin remains significantly undervalued despite its recent performance against fiat currencies. He highlights Bitcoin's potential as a superior monetary governance system free from human intervention and manipulation.

Portfolio Pulse from Murtuza Merchant

June 12, 2024 | 11:32 am

MSFT

ORCL

Oracle shares are trading higher despite a Q4 miss. The company announced a partnership with Microsoft and OpenAI to extend the Microsoft Azure AI platform to Oracle Cloud Infrastructure, providing additional capacity for OpenAI.

Portfolio Pulse from Benzinga Newsdesk

June 12, 2024 | 11:31 am