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Legal

HPQ

LNVGY

The U.S. International Trade Commission (USITC) has initiated an investigation into certain NAND memory devices and electronic devices containing them, based on a complaint by MimirIP LLC. The investigation targets several companies, including Micron Technology Inc., HP Inc., Kingston Technology Company Inc., and Lenovo Group Limited. The USITC will determine if there are violations of section 337 of the Tariff Act of 1930.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 3:00 pm

INTC

Intel Corp (NASDAQ:INTC) has hit a new 52-week low, closing at $18.99. The stock has dropped 46% over the past year and 62% year-to-date. Despite dismal Q2 earnings, a suspended dividend, and job cuts, analysts see a potential 36% upside. Intel's aggressive cost-reduction strategy aims to save over $10 billion by 2025.

Portfolio Pulse from Surbhi Jain

August 08, 2024 | 2:31 pm

GOOG

GOOGL

META

Google and Meta are accused of secretly targeting Instagram ads to teenagers on YouTube, violating Google's own policies. The campaign aimed at 13- to 17-year-olds was reportedly part of a strategy to boost ad revenue and retain younger users. Google has launched an investigation and canceled the project, while Meta defended its actions. This incident coincides with the expected passing of a new child online safety bill by the U.S. Senate.

Portfolio Pulse from Benzinga Neuro

August 08, 2024 | 1:37 pm

TKO

On July 30, a court denied the motion for preliminary approval of a settlement in the LE and Johnson UFC antitrust lawsuits involving TKO.

Portfolio Pulse from charles@benzinga.com

August 08, 2024 | 11:06 am

FWONA

SPY

Liberty Media has received notification from the Department of Justice's Antitrust Division that an investigation has been opened regarding Formula 1's conduct concerning Andretti Formula Racing's application to enter the FIA Formula One World Championship.

Portfolio Pulse from charles@benzinga.com

August 08, 2024 | 10:13 am

CRUZ

CRWD

DAL

JETS

MSFT

Delta Air Lines (DAL) is facing a class action lawsuit from passengers over inadequate refunds following a major computer outage. The lawsuit claims Delta breached contracts by not providing full refunds and only offering partial refunds in exchange for waivers against further legal claims. The outage, caused by a faulty software update from CrowdStrike (CRWD), led to a $500 million financial hit for Delta, which is now seeking damages from Microsoft (MSFT) and CrowdStrike. DAL stock has lost around 19% in the last 12 months.

Portfolio Pulse from Lekha Gupta

August 08, 2024 | 9:59 am

AAPL

GOOG

GOOGL

Alphabet (GOOGL, GOOG) faces a significant antitrust ruling, deemed 'credit negative' by Moody's, which may force the company to alter its profitable business model. The ruling also negatively impacts Apple (AAPL) due to its revenue from Google being the default search engine on iOS devices. The financial implications for both companies will become clearer during the remedy phase of the trial.

Portfolio Pulse from Shanthi Rexaline

August 08, 2024 | 6:46 am

BTCUSD

ETHUSD

XRPUSD

XRP surged 15% after Ripple Labs was fined $125 million by a federal judge, significantly less than the $1.9 billion sought by the SEC. The judge also banned Ripple from future securities law violations. This ruling follows a previous decision that Ripple's direct sales of XRP violated federal securities laws, but its programmatic sales did not.

Portfolio Pulse from Aniket Verma

August 08, 2024 | 1:18 am

INTC

Intel is being sued by shareholders for alleged securities fraud following weak financial results, job cuts, and a suspension of dividends. The lawsuit was revealed in a recent court filing.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 8:42 pm

DAL

Delta Air Lines is being sued by passengers for refusing refunds after a computer outage last month. The lawsuit claims that Delta failed to provide timely refunds for canceled flights, causing financial distress to passengers.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2024 | 7:24 pm