Streetbeat News

Legal

EWQ

VGK

Telegram CEO Pavel Durov has been released under judicial supervision in Paris, with conditions including a €5 million deposit and a travel ban from leaving France.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 7:52 pm

EWQ

VGK

Telegram's CEO, Pavel Durov, has been placed under formal investigation by French authorities following four days of questioning. This development could have implications for Telegram's operations and its perception in the market.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 7:46 pm

MSFT

Raven Software has filed a labor complaint against Activision Blizzard and Microsoft, alleging bad faith bargaining and other labor issues. This follows the formation of a union at Raven Software and reflects broader labor activism in the gaming industry.

Portfolio Pulse from Franca Quarneti

August 28, 2024 | 6:41 pm

HKMPF

JAZZ

Jazz Pharmaceuticals and Hikma Pharmaceuticals are facing allegations of delaying a generic version of Jazz's narcolepsy drug, Xyrem, to maintain high prices. The case will proceed to trial, with claims of antitrust violations and price increases. Jazz denies the allegations, citing regulatory approval of its distribution strategy.

Portfolio Pulse from Vandana Singh

August 28, 2024 | 5:37 pm

JNJ

The American Hospital Association (AHA) is urging the Health Resources and Services Administration (HRSA) to take enforcement action against Johnson & Johnson (J&J) for changing its 340B Drug Pricing Program model. J&J plans to replace upfront discounts with a rebate model for drugs like Stelara and Xarelto, potentially impacting hospital finances and patient access.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 5:33 pm

MU

NVDA

SMCI

Micron Technology Inc (MU) shares are down 4.6% amid sector-wide pressure on semiconductor stocks, influenced by SMCI's financial misconduct allegations and NVIDIA's anticipated earnings report. The semiconductor sector is experiencing volatility due to these developments.

Portfolio Pulse from Henry Khederian

August 28, 2024 | 4:09 pm

SMCI

A Hindenburg short report accuses Super Micro Computer (SMCI) of accounting manipulation and other issues, but a JPMorgan analyst finds limited evidence supporting these claims. The analyst believes the report doesn't alter the medium-term revenue outlook for SMCI, despite highlighting areas for corporate governance improvement.

Portfolio Pulse from Michael Juliano

August 28, 2024 | 4:04 pm

SMCI

Super Micro Computer, Inc. (NASDAQ:SMCI) is experiencing a significant stock price decline due to allegations of illegal accounting practices. The stock may find support around $355, a level where previous resistance was observed. If the stock reaches this level, remorseful sellers may place buy orders, potentially stabilizing the price.

Portfolio Pulse from Mark Putrino

August 28, 2024 | 3:54 pm

COIN

HOOD

The SEC has issued a Wells notice to OpenSea, indicating a potential lawsuit over the classification of certain NFTs as securities. This move is part of a broader regulatory crackdown on the crypto industry, affecting companies like Robinhood and Coinbase.

Portfolio Pulse from Murtuza Merchant

August 28, 2024 | 3:23 pm

TLS

Telos Corporation (NASDAQ:TLS) has resolved a protest regarding a federal government award worth up to $485 million over five years. The protest withdrawal allows Telos to proceed with the contract, while another $40 million award remains under protest.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 3:15 pm