Streetbeat News

Legal

PDD

Temu is set to face an EU investigation regarding its handling of illegal product sales. This scrutiny could impact its parent company, PDD Holdings, which is listed in the US.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 2:44 pm

SMCI

Super Micro Computer Inc (NASDAQ:SMCI) shares plummeted after Ernst & Young resigned as the company's auditor due to governance and transparency concerns. The resignation occurred before any financial reports were issued, and a special committee is reviewing the issues raised. Despite the resignation, Super Micro does not anticipate restating any financial reports.

Portfolio Pulse from Adam Eckert

October 30, 2024 | 1:43 pm

AZN

AstraZeneca's China President, Leon Wang, is under investigation, but the company's operations in China will continue under the current General Manager.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 1:04 pm

SMCI

Super Micro Computer's independent auditor, Ernst & Young, has resigned due to concerns over governance and transparency, specifically doubting the board's integrity and the reliability of financial statements. In response, the board has formed a special committee with Cooley LLP and Secretariat Advisors for an ongoing review.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2024 | 12:54 pm

DAL

META

SBLK

Meta Platforms is expected to report strong earnings growth, while Delta Air Lines is involved in a lawsuit against CrowdStrike. Star Bulk Carriers faces a downgrade from Stifel. All three companies saw share price increases recently.

Portfolio Pulse from Avi Kapoor

October 30, 2024 | 12:05 pm

GOOG

GOOGL

A Russian court has fined Alphabet Inc.'s Google $20 decillion for blocking Russian media content, a result of a legal dispute over U.S. sanctions. Despite the fine's astronomical size, it is unlikely to impact Google significantly as the company has been inactive in Russia since 2022.

Portfolio Pulse from Benzinga Neuro

October 30, 2024 | 11:16 am

LLY

Eli Lilly's stock has surged 51% YTD, driven by the success of its weight loss drugs Mounjaro and Zepbound, leading to speculation about a potential stock split. The company is nearing a trillion-dollar market cap and is set to announce its Q3 earnings soon.

Portfolio Pulse from Benzinga Neuro

October 30, 2024 | 9:01 am

BNBUSD

President Joe Biden praised Nigerian President Bola Tinubu for his role in the release of Binance executive Tigran Gambaryan. The release followed the dropping of money laundering charges against Gambaryan by the Nigerian government. This diplomatic effort highlights the cooperation between the U.S. and Nigeria in law enforcement and finance.

Portfolio Pulse from Aniket Verma

October 30, 2024 | 5:15 am

AAPL

GOOGL

Alphabet Inc. CEO Sundar Pichai discussed potential 'unintended consequences' of DOJ proposals during the company's Q3 earnings call. The DOJ is considering breaking up Google due to its monopoly in the search market, which could affect its deal with Apple. Despite legal challenges, Alphabet reported a 15% revenue increase, with shares rising in after-hours trading.

Portfolio Pulse from Ananya Gairola

October 30, 2024 | 3:32 am

SPLP

Steel Partners Holdings announced that the Superior Court of New Jersey dismissed an age discrimination claim filed by former assistant general counsel Michael MacManus. MacManus had resigned in 2020 and filed the lawsuit in 2021.

Portfolio Pulse from Benzinga Newsdesk

October 29, 2024 | 9:36 pm