Streetbeat News

Legal

EWZ

X, a platform in Brazil, is set to present a legal representative to the Supreme Court and has started complying with court orders to remove hate content. A technical issue allowed some users to access X on Wednesday.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 7:34 pm

ABT

Piper Sandler initiated coverage on Abbott Laboratories (NYSE:ABT) with an Overweight rating and a price target of $131, citing its attractive valuation and strong growth prospects in the medtech sector. Despite ongoing litigation, Abbott's diversified business model and consistent dividend payments make it a top large-cap medtech company.

Portfolio Pulse from Vandana Singh

September 19, 2024 | 7:03 pm

NFGC

Iceberg Research has published a critical report on New Found Gold Corp., accusing the company of lies, misrepresentations, and using a professional stock promoter. This report could impact investor sentiment and the stock price of New Found Gold Corp.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 6:50 pm

NTDOY

Nintendo and The Pokémon Company have filed a lawsuit against indie developer Pocketpair, accusing them of patent infringement with their game Palworld. The lawsuit seeks to halt the alleged infringement and obtain compensation for damages. Pocketpair, unaware of the specific patents in question, has expressed concern over the impact on their development process but remains committed to improving Palworld.

Portfolio Pulse from Franca Quarneti

September 19, 2024 | 6:13 pm

CVS

WBA

Oak Street Health, a CVS Health subsidiary, agreed to a $60 million settlement over allegations of Medicare kickback violations. The DOJ claimed Oak Street Health paid third-party agents to recruit seniors to its clinics, leading to false Medicare claims. This settlement highlights ongoing scrutiny of healthcare providers' practices.

Portfolio Pulse from Vandana Singh

September 19, 2024 | 6:09 pm

HE

Hawaiian Electric Industries, Inc. (NYSE:HE) shares fell 10.1% after announcing an Equity Distribution Agreement to issue up to $250 million in common shares. The company is also settling litigation claims related to the Maui windstorm and wildfires for $1.91 billion, with payments starting in 2025.

Portfolio Pulse from Lekha Gupta

September 19, 2024 | 5:29 pm

WYNN

Wynn Resorts has agreed to pay $70 million to settle claims related to misconduct allegations. This settlement is significant for investors as it resolves ongoing legal issues that could have impacted the company's financial standing.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 4:36 pm

MQBKY

The SEC has charged Macquarie Investment Management Business Trust with fraud for overvaluing assets and engaging in unlawful cross trades. The firm will pay nearly $80 million in penalties.

Portfolio Pulse from Benzinga Newsdesk

September 19, 2024 | 3:40 pm

HD

Home Depot (NYSE:HD) has agreed to a $2 million settlement over price discrepancies in California. The stock is currently overbought, nearing resistance levels, which may lead to a sell-off as sellers anticipate a price reversion.

Portfolio Pulse from Mark Putrino

September 19, 2024 | 3:31 pm

TD

Toronto-Dominion Bank (NYSE:TD) shares rose as the bank announced CEO Bharat Masrani's retirement in 2025, with Raymond Chun named as his successor. The leadership change comes amid challenges, including a failed acquisition and money-laundering investigations.

Portfolio Pulse from Vaishali Prayag

September 19, 2024 | 2:43 pm