Streetbeat News

Legal

DIS

The Walt Disney Company (NYSE:DIS) is seeking to dismiss a wrongful death lawsuit by citing an arbitration clause in their Disney+ subscription agreement. The lawsuit was filed by Jeffrey Piccolo after his wife, Kanokporn Tangsuan, died from an allergic reaction at an Irish pub in Disney Springs. Disney argues that Piccolo agreed to resolve disputes through arbitration when he subscribed to Disney+. The company also noted that it does not own or operate the pub. A hearing on Disney’s motion is scheduled for Oct. 2.

Portfolio Pulse from Ananya Gairola

August 15, 2024 | 6:50 am

GOOG

GOOGL

Judge James Donato has indicated plans to dismantle Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google’s Android app store monopoly in the ongoing Epic v. Google case. Despite Google's arguments about the high cost and effort required to open its store to rival stores, Donato is determined to remove these barriers. A final ruling is expected in a little over two weeks.

Portfolio Pulse from Ananya Gairola

August 15, 2024 | 5:03 am

TCNNF

Florida Governor Ron DeSantis criticized Trulieve Cannabis Corp (OTC:TCNNF) for alleged Canadian ties in his opposition to Florida's cannabis legalization measure, Amendment 3. Trulieve clarified that it is a Florida-based company, with its only Canadian connection being a holding company for stock trading purposes.

Portfolio Pulse from Maureen Meehan

August 14, 2024 | 10:26 pm

GOOG

GOOGL

The Department of Justice (DOJ) is investigating Alphabet Inc. (NASDAQ:GOOG) (NASDAQ:GOOGL) for its dominance in the search market, with potential outcomes including a breakup or restructuring of the company. Analysts suggest that a breakup could be beneficial for shareholders, potentially leading to higher valuations for individual business units like YouTube. The legal process could take one to two years, and the stock has seen a 2.3% decline amid the news.

Portfolio Pulse from Chris Katje

August 14, 2024 | 8:11 pm

SPRU

Spruce Power maintains its 2024 guidance for Operating EBITDA in the range of $68M-$86M and Adjusted Free Cash Flow in the range of $0-$5M, with expectations trending to the lower end. The company faced higher operating expenses due to unforeseen CEO transition costs, increased legal expenses from a proxy contest, and non-routine operations and maintenance expenditures.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 8:07 pm

TSLA

The article discusses the political and social controversies surrounding Elon Musk, particularly his stance on immigration and his support for Donald Trump. It highlights the potential impact on Tesla (NASDAQ: TSLA) if Trump does not win the upcoming election, suggesting that Musk's companies could face increased scrutiny and legal challenges under a Kamala Harris administration.

Portfolio Pulse from David Pinsen

August 14, 2024 | 7:17 pm

GOOG

TMUS

Alphabet Inc. (NASDAQ:GOOG) shares are trading lower due to reports that the U.S. Department of Justice (DOJ) is considering breaking up Google to address its monopolistic practices in the search engine market. Meanwhile, T-Mobile is leveraging the launch of Google's Pixel 9 series with exclusive offers to attract customers.

Portfolio Pulse from Vaishali Prayag

August 14, 2024 | 7:03 pm

DELL

The Delaware Supreme Court has upheld a $267 million legal fee award in a lawsuit involving Dell. This decision is significant for Dell as it concludes a major legal battle.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2024 | 6:57 pm

LLY

NVO

Eli Lilly (NYSE:LLY) has issued cease-and-desist letters to U.S. healthcare providers to stop promoting compounded versions of its weight-loss drugs, Mounjaro and Zepbound, as the supply of these medications has improved. The FDA is evaluating whether the supply meets the criteria for resolving the shortage. Novo Nordisk (NYSE:NVO) is also mentioned as having faced similar shortages. LLY stock is up 2.46%.

Portfolio Pulse from Vandana Singh

August 14, 2024 | 6:35 pm

CRWD

CrowdStrike Holdings, Inc. (NASDAQ:CRWD) shares are moving higher as the company prepares to release its quarterly fiscal earnings on August 28. Analysts estimate an EPS of 98 cents and revenue of $958.69 million. The company is also facing legal action from Delta Air Lines over a July 19 outage, which Delta claims caused $500 million in damages. Multiple analysts have recently adjusted their price targets for CrowdStrike.

Portfolio Pulse from Dylan Berman

August 14, 2024 | 6:16 pm