Streetbeat News

Legal

SMCI

Super Micro Computer Inc. (NASDAQ:SMCI) experienced a volatile stock movement after announcing the shipment of over 100,000 GPUs per quarter, potentially generating billions in revenue. Despite a 15% initial surge, the stock fell by 7% amid concerns over sustainability and ongoing legal investigations. The company faces challenges with technical indicators showing bearish signals, although short-term bullish potential exists.

Portfolio Pulse from Surbhi Jain

October 08, 2024 | 6:48 pm

GSK

MRK

Merck faces a class-action lawsuit alleging anticompetitive behavior related to its mumps vaccine. Despite ethical concerns, the court upheld Merck's immunity under the Noerr-Pennington doctrine, shielding it from liability. The lawsuit claims Merck's actions delayed GSK's market entry.

Portfolio Pulse from Vandana Singh

October 08, 2024 | 4:41 pm

COIN

Crypto.com has initiated legal action against the SEC after receiving a Wells notice, accusing the SEC of overstepping its jurisdiction by classifying most crypto trades as securities. This lawsuit highlights ongoing tensions between the crypto industry and regulatory bodies.

Portfolio Pulse from Khyathi Dalal

October 08, 2024 | 4:30 pm

HIMS

LLY

The FDA has removed Eli Lilly's weight loss drug, tirzepatide, from the shortage list, sparking controversy. Critics argue this decision disregards ongoing supply issues and favors special interests. Hims & Hers Health may still see strong demand for compounded drugs.

Portfolio Pulse from Vandana Singh

October 08, 2024 | 3:16 pm

MSOS

TSNDF

TerrAscend's Executive Chairman, Jason Wild, highlighted a Supreme Court Justice's opinion questioning the legality of cannabis. This suggests potential interest in revisiting cannabis laws, which could impact cannabis-related stocks.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:57 pm

SAVA

Cassava Sciences Inc. (NASDAQ:SAVA) has settled SEC charges for $40 million over misleading statements related to its Alzheimer's drug trial. The settlement allows the company to focus on its drug development. HC Wainwright upgraded the stock to Buy with a $116 price target, anticipating positive trial results.

Portfolio Pulse from Vandana Singh

October 08, 2024 | 2:57 pm

MSOS

SPY

Emily Paxhia, Founding Partner of Poseidon Investment Management, highlighted that Supreme Court Justice Thomas wrote a dictum that could invite a case back to the Supreme Court. This development may have implications for cannabis-related investments.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:55 pm

MSOS

SPY

Emily Paxhia of Poseidon Investment Management discusses their efforts in the legislative process for cannabis laws, with a case potentially reaching the Supreme Court by next summer.

Portfolio Pulse from Benzinga Newsdesk

October 08, 2024 | 2:54 pm