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Legal

MCRB

Seres Therapeutics stockholders have published an open letter to the board, seeking clarity on an alleged rejected takeover offer from Nestlé. The offer, reportedly between $6.00 and $6.50 per share, was said to be rejected in favor of selling the VOWST business. This decision has raised concerns about the board's fiduciary duties and potential legal liabilities.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 7:28 pm

C

Citigroup has issued a memo warning employees about misconduct by staff and contractors, emphasizing its zero tolerance for fraud and unethical behavior. The bank is considering strengthening controls over contract workers.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 7:26 pm

GOOGL

Donald Trump, the Republican nominee, has stated that he will seek the prosecution of Google if he wins the election, alleging that the company displays negative stories about him and positive ones about Kamala Harris. He claims this is illegal election interference.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 5:55 pm

MU

SMCI

SOXX

Super Micro Computer (SMCI) shares dropped over 10% due to a DOJ investigation into potential accounting violations, but rebounded 4.6% the next day. The decline followed a Hindenburg Research short report. Despite the drop, some traders see the market's reaction as an overshoot. Meanwhile, other chip stocks like Micron Technology (MU) and the iShares Semiconductor ETF (SOXX) performed well.

Portfolio Pulse from Aaron Bry

September 27, 2024 | 5:20 pm

ISRA

SPY

The U.S. is monitoring Iran's plotting against current and former U.S. officials, including Trump, and has charged three Iranian hackers for cyber attacks aimed at undermining Trump's campaign. This highlights increasing Iranian cyber activity during the election cycle.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 4:36 pm

FXY

QQQ

SMCI

SPY

The article discusses the disappointing personal income and spending data, a DOJ probe into Super Micro Computer (SMCI) for accounting irregularities, and the impact of Japan's new PM on the yen. It highlights the importance of cautious investment in AI and the significance of money flows in major tech stocks and ETFs.

Portfolio Pulse from The Arora Report

September 27, 2024 | 3:30 pm

CHWY

The SEC has charged a former executive of Chewy with insider trading activities that took place in 2021. This development could impact Chewy's reputation and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2024 | 3:26 pm

FLGC

The Cannabinoid Safety and Regulation Act (CSRA) introduced by Senator Ron Wyden aims to establish federal regulations for hemp-derived cannabinoids, including a ban on synthetic cannabinoids like Delta-8 THC. The bill proposes age restrictions, safety testing, and labeling standards, with the FDA overseeing compliance. The legislation has support from industry groups and companies like Flora Growth Corp. (NASDAQ:FLGC), but faces potential delays and backlash in Congress.

Portfolio Pulse from Patricio Liddle

September 27, 2024 | 3:16 pm

ACHC

Acadia Healthcare (NASDAQ:ACHC) is under federal investigation for allegedly violating the False Claims Act by billing for unnecessary services. The company settled for $16.6 million but faces ongoing scrutiny. Acadia plans to invest $100 million in technology to improve safety and care. ACHC stock fell 26.60% following the news.

Portfolio Pulse from Vandana Singh

September 27, 2024 | 2:10 pm