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SOC

Sable Offshore shares rise as Santa Barbara County acknowledges lack of jurisdiction over Pacific Pipeline's safety valve installation, leading to lawsuit dismissal. The company plans to restart production in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 4:11 pm

VICR

Vicor Corporation (NASDAQ:VICR) is addressing allegations from a securities litigation regarding its July 25, 2023 earnings call. The company asserts that its statements about a revenue ramp were truthful, based on $30 million in non-cancellable orders from a significant customer. However, the customer later changed its allocation, affecting the company's forward-looking statements.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 4:07 pm

SOC

Sable Offshore announced that Santa Barbara County acknowledged it lacks jurisdiction over Pacific Pipeline Co's installation of 16 new safety valves. A conditional settlement agreement was reached on August 30, 2024, and Sable plans to dismiss a pending lawsuit post-installation. Production is expected to restart in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 4:03 pm

AAOI

PCVX

PSNY

SHLS

U

Several stocks saw significant gains on Tuesday despite a general market downturn. Vaxcyte's shares surged 43.5% following positive trial results for its vaccine candidate. Shoals Technologies rose 21.8% after a favorable legal ruling. Polestar Automotive gained 16% with a new CFO appointment. Applied Optoelectronics and Unity Software also saw notable increases due to analyst upgrades.

Portfolio Pulse from Avi Kapoor

September 03, 2024 | 2:47 pm

GRAL

ILMN

The European Court of Justice ruled in favor of Illumina, stating that the European Commission did not have jurisdiction over Illumina's acquisition of GRAIL, removing a $478M fine. Illumina spun off GRAIL, which is now an independent company, and maintains a 14.5% stake. The FTC also dismissed the case against Illumina and GRAIL in the U.S.

Portfolio Pulse from Vandana Singh

September 03, 2024 | 1:49 pm

GOOG

GOOGL

JPMorgan analyst Doug Anmuth warns that the DOJ trial against Alphabet Inc (Google) could negatively impact Google's earnings by up to 10%, with potential outcomes including opening up search distribution channels to competitors. The trial could lead to significant changes in Google's business model, affecting its core operations.

Portfolio Pulse from Surbhi Jain

September 03, 2024 | 12:56 pm

AUUD

PCVX

SHLS

Auddia, Shoals Technologies, and Vaxcyte shares are trading higher due to significant company developments. Auddia launched new interfaces for its app, Shoals Technologies won a legal ruling, and Vaxcyte advanced a vaccine candidate to Phase 3 trials.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 12:27 pm

SHLS

Shoals Technologies' shares rose following a favorable legal ruling from the U.S. ITC in its patent infringement case against Voltage, LLC and a related foreign entity.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 11:51 am

SHLS

Shoals Technologies has received a favorable legal ruling from the US International Trade Commission (ITC) in its patent infringement complaint against Voltage, LLC and a related foreign entity.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 11:13 am

HAL

Halliburton disclosed a cyber incident where an unauthorized third party accessed its systems. The company believes this will not materially impact its financial condition or operations. However, risks such as potential litigation and regulatory scrutiny remain.

Portfolio Pulse from Benzinga Newsdesk

September 03, 2024 | 10:42 am