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Legal

DJT

SPY

The FBI has announced an investigation into an alleged hack of the Trump campaign by Iran. This development could have implications for political stability and cybersecurity concerns.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 8:55 pm

GOOG

GOOGL

RUM

Rumble Inc (NASDAQ:RUM) reported strong Q2 financial results, with revenue and EPS beating estimates. The company saw a significant increase in monthly active users, driven by political interest. Rumble also launched a second antitrust lawsuit against Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL).

Portfolio Pulse from Chris Katje

August 12, 2024 | 8:31 pm

JNJ

Johnson & Johnson has secured plaintiff support for a $6.5 billion settlement related to its baby powder litigation. This settlement aims to resolve thousands of lawsuits alleging that the company's talc-based products caused cancer.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 6:44 pm

PCRX

Pacira BioSciences (NASDAQ:PCRX) lost a patent fight for its key drug Exparel, leading to a significant stock drop and a downgrade from JP Morgan. The court ruled that the '495 patent is invalid, which could erode Exparel's revenue, accounting for 80% of the company's sales. JP Morgan downgraded the stock to Underweight with a reduced price target of $10.

Portfolio Pulse from Vandana Singh

August 12, 2024 | 6:19 pm

FRG

NMR

RILY

B. Riley Financial Inc. (NASDAQ:RILY) shares plummeted over 52% due to delayed Q2 earnings and an SEC investigation into its disclosures related to Franchise Group, Inc. (FRG). The SEC is probing whether B. Riley properly informed investors about risks associated with FRG and its former CEO, Brian Kahn. Nomura Holdings Inc. is also involved, having arranged a $600 million loan for the FRG acquisition.

Portfolio Pulse from Anthony Noto

August 12, 2024 | 6:07 pm

SPY

The U.S. Justice Department and the SEC have closed their investigations into short seller Carson Block without taking any action, according to sources.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 4:08 pm

AAPL

BRK-B

Berkshire Hathaway has drastically reduced its Apple holdings by 55.8%, selling 505 million shares. This decision comes amidst Apple's recent revenue slowdown and a 10% decline in smartphone demand. Despite these challenges, Apple is pursuing innovations in AI and satellite connectivity to strengthen its market position.

Portfolio Pulse from Zaheer Anwari

August 12, 2024 | 2:46 pm

CNP

Texas Attorney General has initiated an investigation into CenterPoint Energy's conduct during Hurricane Beryl last month.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 1:31 pm

SBUX

CNBC's Faber reports that Starbucks and Elliott Management are reportedly in settlement discussions.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 1:21 pm

RILY

B. Riley Financial Inc. (RILY) is facing an expanding U.S. probe over its risk disclosures. This investigation could have significant implications for the company's operations and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 12:26 pm