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Legal

GOOG

GOOGL

Alphabet Inc. (NASDAQ:GOOG, NASDAQ:GOOGL) faces a mixed outlook as it deals with a recent court ruling labeling it a monopoly. Despite this, Bank of America analyst Justin Post remains bullish, reiterating a Buy rating with a $206 price target. Post highlights Alphabet's strong position in AI, particularly with Google Gemini, and its dominance over OpenAI's ChatGPT. He believes Alphabet's AI advancements and cost management will drive future growth.

Portfolio Pulse from Hayden Buckfire

August 07, 2024 | 6:35 pm

BUG

CIBR

CSCO

HACK

IHAK

MSFT

PANW

WCBR

A massive data breach in April exposed the personal data of nearly 3 billion people, leading to a class action lawsuit against Jerico Pictures Inc., operating as National Public Data. The breach, allegedly conducted by the cybercriminal group USDoD, has significant implications for cybersecurity firms, which saw their stock prices rise in response.

Portfolio Pulse from Michael Juliano

August 07, 2024 | 5:00 pm

C

FTXO

ICAP

A federal appeals court ruled that a Citigroup Inc. (NYSE:C) vice president is not entitled to a share of the $400 million fine the bank agreed to pay in 2020 for risk management failures. The court found that the whistleblower's claims did not warrant a portion of the penalty. Citigroup's stock has gained around 23% in the past 12 months.

Portfolio Pulse from Lekha Gupta

August 07, 2024 | 12:11 pm

SPY

The EPA is investigating renewable fuel producers for allegedly using fraudulent feedstocks in biodiesel production to secure government subsidies. This could impact companies involved in the biofuel sector.

Portfolio Pulse from charles@benzinga.com

August 07, 2024 | 11:37 am

RUM

TSLA

Rumble Inc. (NASDAQ:RUM) and Elon Musk's X have filed antitrust lawsuits against major advertising agencies, alleging a conspiracy to withhold ad revenue. The lawsuit, filed in the U.S. District Court for the Northern District of Texas, names the World Federation of Advertisers, WPP, and GroupM Worldwide as defendants. Musk has encouraged other companies facing similar boycotts to file lawsuits, suggesting potential criminal liability under the RICO Act. The lawsuit follows a significant drop in advertising revenue for X since Musk's acquisition.

Portfolio Pulse from Ananya Gairola

August 07, 2024 | 4:43 am

CRWD

DAL

MSFT

Microsoft blames Delta's outdated IT for delayed recovery from a global cyber outage, while Delta defends its IT investments and seeks damages against Microsoft and CrowdStrike. Delta CEO criticizes the tech companies for not providing exceptional service, and Microsoft refutes the claims, stating they offered assistance which was declined.

Portfolio Pulse from Ananya Gairola

August 07, 2024 | 1:31 am

NEXT

NextDecade Corporation (NASDAQ:NEXT) expressed disappointment over the U.S. Court of Appeals for the D.C. Circuit's decision to vacate the Federal Energy Regulatory Commission's (FERC) remand authorization of its Rio Grande LNG Facility. The court ruled that FERC should have issued a supplemental Environmental Impact Statement (EIS). NextDecade is reviewing the decision and assessing its options, while construction on the first three liquefaction trains continues. The company is also evaluating the impact on the timing of a final investment decision for Train 4.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:23 pm

AAPL

AMZN

GOOG

GOOGL

META

A recent antitrust ruling against Alphabet Inc (GOOG, GOOGL) for monopolistic practices with its search engine could influence ongoing lawsuits against other major tech companies like Meta Platforms Inc (META), Amazon.com Inc (AMZN), and Apple Inc (AAPL). Legal experts are divided on the ruling's broader impact, with some suggesting it could boost cases against these companies, while others believe it may not significantly affect them.

Portfolio Pulse from Hayden Buckfire

August 06, 2024 | 8:08 pm

BNTX

PFE

The University of Pennsylvania has filed a lawsuit against BioNTech, alleging that the company underpaid royalties on patents used in the COVID-19 vaccine Comirnaty. This legal action could have financial implications for BioNTech and its partner Pfizer.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 6:52 pm

AAPL

GOOG

GOOGL

A U.S. federal judge ruled that Alphabet Inc. (GOOG, GOOGL) illegally maintained monopolies in search and text advertising. This ruling could lead to a breakup of Alphabet, which analysts believe would boost its stock value. Needham analyst Laura Martin reiterated a Buy rating for Alphabet with a price target of $210, citing the potential benefits of a breakup, including higher investor appeal for pure-play assets, increased transparency, and reduced regulatory risks.

Portfolio Pulse from Nabaparna Bhattacharya

August 06, 2024 | 6:23 pm