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SMCI

SMH

SPY

USO

The stock market closed higher, driven by strength in semiconductor stocks. Supermicro (SMCI) fell due to reports of a Justice Department probe. Oil prices declined on potential Saudi output increases.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 8:06 pm

ACHC

Acadia Healthcare Company has agreed to pay $19.85 million to settle allegations of billing for medically unnecessary inpatient behavioral health services. The settlement resolves claims under the False Claims Act and related state statutes, with $16.66 million going to the U.S. government and $3.18 million to four states. The allegations include improper admissions, excessive lengths of stay, and inadequate staffing, leading to patient harm.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 7:10 pm

ACHC

Acadia Healthcare Company has agreed to pay $19.85 million to settle allegations of billing for medically unnecessary inpatient behavioral health services. The settlement resolves claims under the False Claims Act and related state statutes, with payments to both the federal government and several states.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 7:08 pm

AEO

AMZN

American Eagle Outfitters has filed a lawsuit against Amazon for trademark infringement, alleging misuse of its Aerie brand in search results. The company seeks damages and an injunction to prevent further infringements. American Eagle's recent earnings report showed a slight beat on EPS but missed revenue expectations.

Portfolio Pulse from Lekha Gupta

September 26, 2024 | 6:00 pm

MMNFF

A new three-part series by Bungalow Media + Entertainment will explore the journey of Adam Bierman, co-founder of MedMen Enterprises Inc, the first American cannabis unicorn. The series is based on Bierman's upcoming book, detailing his experiences in the cannabis industry, including challenges with gangsters and government corruption. MedMen, founded in 2010, became a billion-dollar company but faced setbacks, including a failed acquisition and Bierman's departure in 2020. Bierman later won a $3.1 million arbitration settlement from MedMen in 2023.

Portfolio Pulse from Jelena Martinovic

September 26, 2024 | 5:24 pm

SMCI

Super Micro Computer, Inc. (NASDAQ:SMCI) shares are falling due to a DOJ probe following a short report by Hindenburg Research. The report alleges accounting violations, leading to a sharp decline in SMCI's stock price.

Portfolio Pulse from Erica Kollmann

September 26, 2024 | 4:49 pm

EWZ

META

Elon Musk's social media platform, X, has requested the Brazilian Supreme Court to allow it to resume services in Brazil. This move comes after a suspension, the reasons for which are not detailed in the article.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 3:40 pm

EQNR

SHEL

TTE

Shell, TotalEnergies, and Equinor have completed the Northern Lights Joint Venture, a CO2 storage project in Norway. Despite its environmental significance, shares of all three companies are trading lower. Additionally, Shell and Equinor face legal challenges for other projects in the North Sea.

Portfolio Pulse from Lekha Gupta

September 26, 2024 | 3:14 pm

SMCI

Super Micro Computer shares are declining due to a report that the company is under investigation by the Justice Department.

Portfolio Pulse from Benzinga Newsdesk

September 26, 2024 | 2:49 pm