Streetbeat News

Legal

RTX

The U.S. State Department has announced a $200 million settlement with RTX Corporation over export violations. This settlement addresses issues related to the company's compliance with export regulations.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 4:26 pm

MINE

The article discusses three financial crime cases: a Mississippi seafood supplier fined for mislabeling seafood, a stem cell company founder guilty of distributing unapproved drugs, and the CEO of Minerco Inc. arrested for securities fraud.

Portfolio Pulse from Michael Juliano

August 30, 2024 | 4:03 pm

CSCO

PALT

Paltalk, Inc. (NASDAQ:PALT) shares are down 33.3% despite winning a $65.7 million verdict against Cisco Systems, Inc. (NASDAQ:CSCO) for patent infringement. The award is subject to post-trial proceedings, and Paltalk's financials show a significant revenue decline and net loss.

Portfolio Pulse from Nabaparna Bhattacharya

August 30, 2024 | 2:56 pm

CSCO

PALT

Paltalk's stock is trading lower despite winning a $65.7M verdict against Cisco in a District Court. The verdict is still subject to post-trial proceedings, which may be causing uncertainty among investors.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 10:51 am

CSCO

PALT

Paltalk has been awarded $65.7 million in a jury verdict against Cisco, but expects to receive no more than one third of the gross proceeds due to litigation expenses. The final amount is subject to post-trial proceedings and potential appeals.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 10:46 am

CSCO

PALT

Paltalk Holdings has been awarded $65.7 million in a patent infringement lawsuit against Cisco. The lawsuit, filed in July 2021, claimed that Cisco's products infringed on Paltalk's U.S. Patent No. 6,683,858.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2024 | 10:01 am

AAPL

MSFT

NVDA

Elon Musk has raised concerns about the legality of OpenAI's transition from a non-profit to a for-profit model amid potential investments from Apple and Nvidia. Musk questions whether such a transition is legal, suggesting it could be a 'house of cards'.

Portfolio Pulse from Ananya Gairola

August 30, 2024 | 9:51 am

DELL

DG

LULU

MRVL

TSLA

On Thursday, major U.S. indices had a mixed performance. Lululemon reported earnings that beat estimates but missed on revenue. Dollar General's shares plummeted due to disappointing earnings and a downward revision of its fiscal outlook. Dell beat both revenue and earnings estimates but saw a slight decline in share price. Marvell Technology's shares rose after beating sales estimates. Tesla shares increased slightly after successfully dismissing a federal lawsuit.

Portfolio Pulse from Benzinga Neuro

August 30, 2024 | 3:46 am

TSLA

Elon Musk and Tesla have successfully dismissed a lawsuit accusing them of insider trading and manipulating Dogecoin. A judge ruled that investors cannot rely on Musk's tweets for securities fraud claims.

Portfolio Pulse from Aniket Verma

August 30, 2024 | 3:02 am

AILE

iLearningEngines (NASDAQ:AILE) shares fell over 53% after Hindenburg Research published a short report alleging the company is an 'artificial intelligence SPAC with artificial partners and artificial revenue.' The report claims the company's financials are largely fake, with undisclosed related party transactions. iLearningEngines responded, dismissing the allegations as misleading and speculative.

Portfolio Pulse from Chris Katje

August 29, 2024 | 8:46 pm