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Legal

AAPL

Apple has requested a U.S. judge to dismiss the government's antitrust case against it, according to a court filing reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 5:07 pm

TASK

The Bear Cave Newsletter has issued a report titled 'Problems At TaskUs (TASK)', highlighting various issues at the company.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 2:32 pm

SPY

VGK

Russia has released WSJ reporter Evan Gershkovich and former U.S. Marine Paul Whelan in a multi-country prisoner swap. This development could have geopolitical implications.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 11:50 am

ABUS

Arbutus Biopharma (ABUS) will cease discovery efforts and discontinue its IM-prove 3 clinical trial to focus on Imdusiran and AB-101. The company will reduce its workforce by 40% and incur a one-time restructuring charge of approximately $3M-$4M in Q3 2024. These changes, along with ongoing cost management, are expected to fund operations into Q4 2026. Litigation updates include a trial date set for April 21, 2025, against Moderna and ongoing litigation against Pfizer/BioNTech.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 11:35 am

AAPL

GOOG

GOOGL

META

The EU's new AI Act, effective today, imposes strict regulations on AI applications, particularly targeting large U.S. tech companies like Apple, Meta, and Google. The Act mandates risk assessments, high-quality training datasets, and detailed documentation for high-risk AI applications. Violations could result in significant fines.

Portfolio Pulse from Benzinga Neuro

August 01, 2024 | 9:50 am

CVX

HES

XOM

Chevron's $53 billion acquisition of Hess faces delays due to arbitration claims by Exxon and CNOOC over a Guyana oil joint venture. The arbitration decision is expected in the second half of 2025, adding uncertainty for Chevron and Hess investors.

Portfolio Pulse from Benzinga Neuro

August 01, 2024 | 7:46 am

CVX

HES

Hess and Chevron have announced that the arbitration merits hearing regarding the applicability of the Stabroek ROFR to their merger has been scheduled for May 2025. Despite their request for an earlier date, the hearing was delayed due to scheduling conflicts. Both companies remain confident that the arbitration will confirm that the Stabroek ROFR does not apply to the merger.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 9:52 pm

GTBIF

Ohio is nearing the launch of its recreational cannabis market, with 34 medical cannabis businesses approved to expand into adult-use sales. Key players like Riviera Creek, Pure Ohio Wellness, and Green Thumb Industries Inc (OTC:GTBIF) are ramping up production. However, sales are pending until dispensaries receive dual-use licenses by September 7. House Bill 230, introducing oral fluid tests for impaired drivers, has sparked controversy over its reliability.

Portfolio Pulse from Patricio Liddle

July 31, 2024 | 9:11 pm

TKO

TKO Group Holdings, Inc. (NYSE:TKO) shares are under scrutiny after a judge rejected a $335 million settlement in the UFC class-action lawsuits, setting a trial date for October 28. The judge is seeking a higher settlement amount and major contractual changes. TKO Group could face a larger financial payout if the case goes to trial, potentially impacting its stock price. TKO is set to report its Q2 results on August 8, with analysts expecting earnings of 87 cents per share and revenue of $771.313 million. Analysts have an average 12-month price target of $124.67 for TKO stock.

Portfolio Pulse from Erica Kollmann

July 31, 2024 | 7:07 pm

TKO

A court has denied preliminary approval of a $335 million settlement in TKO class-action lawsuits. A status conference is set for August 19, 2024, and a new tentative trial date is scheduled for October 28, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 31, 2024 | 6:56 pm