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Legal

JNJ

Johnson & Johnson (NYSE:JNJ) faced a legal setback as a New Jersey judge rejected its bid to disqualify the law firm Beasley Allen from representing plaintiffs in talc-related cancer claims. This complicates JNJ's attempt to resolve over 60,000 claims through a $6.48 billion bankruptcy plan. The company plans to appeal the ruling.

Portfolio Pulse from Vandana Singh

July 22, 2024 | 12:08 pm

ALLR

Allarity Therapeutics received a Wells Notice from the SEC regarding its disclosures about meetings with the FDA concerning its NDA for Dovitinib or Dovitinib-DRP. The company has a cash balance of $20 million, expected to last until 2026, and has paused its ATM usage. Additionally, Allarity's Stenoparib shows extended Phase 2 clinical benefits.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 12:02 pm

CRWD

MSFT

A recent global tech outage caused by cybersecurity firm CrowdStrike (NASDAQ:CRWD) could cost over $1 billion, with potential legal and financial repercussions. The outage disrupted various sectors and affected millions of devices. CrowdStrike's reputation may suffer, impacting its ability to attract new customers. Microsoft (NASDAQ:MSFT) shares were up slightly despite the incident.

Portfolio Pulse from Benzinga Neuro

July 22, 2024 | 11:12 am

ALLR

Allarity Therapeutics received a Wells Notice from the SEC regarding its 2021 FDA NDA submission for Dovitinib. The notice suggests potential enforcement action for alleged securities law violations. The company and three former officers are implicated, but Allarity plans to respond formally.

Portfolio Pulse from Benzinga Newsdesk

July 22, 2024 | 10:22 am

AAPL

AMZN

GOOGL

MSFT

NFLX

NTDOY

WBD

The latest consumer tech news includes Japan's increasing reliance on foreign digital services like Amazon Prime and YouTube Premium, China's AI regulation efforts, a legal ruling favoring Apple, Netflix discontinuing its cheapest ad-free plan, and various updates from Microsoft, AT&T, Warner Bros. Discovery, and Nintendo.

Portfolio Pulse from Lekha Gupta

July 21, 2024 | 5:50 pm

TCNNF

A DeSantis-backed coalition has launched a campaign to defeat Florida's cannabis legalization initiative, Amendment 3, which needs 60% voter support to pass in November 2024. Despite strong opposition from Gov. Ron DeSantis and the Republican Party, the amendment has significant support, including from Florida's largest medical marijuana company, Trulieve (OTC:TCNNF), which has invested over $40 million in the campaign.

Portfolio Pulse from Maureen Meehan

July 21, 2024 | 4:51 pm

AAPL

TSM

Apple had a busy week with several key developments. The company decided to skip TSMC's 2nm chip for the iPhone 17, opting for a refined 3nm chip instead. Apple also rolled out the first iOS 18 public beta, received a favorable ruling on its redesigned ECG for the Apple Watch, and approved the first PC emulator for iPhone and iPad. Analyst Ming-Chi Kuo expressed doubts about the iPhone 16 sales projections.

Portfolio Pulse from Benzinga Neuro

July 21, 2024 | 11:15 am

HES

Hess shares are trading lower following a report suggesting that the FTC is probing the company over OPEC communications.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 7:45 pm

HES

OXY

The FTC is investigating executives from Hess and Occidental for potential coordination with OPEC on price and supply. This antitrust probe seeks to uncover any signs of collusion that could affect market dynamics.

Portfolio Pulse from Benzinga Newsdesk

July 19, 2024 | 7:41 pm

CNH

DVA

DaVita Inc. (NYSE:DVA) agreed to pay $34.5 million for allegedly paying kickbacks to competitors and physicians for patient referrals, violating the False Claims Act. Gentiva Health Services will pay $19.4 million for submitting false claims for ineligible hospice services. Hemisphere GNSS, acquired by CNH Industrial N.V. (NYSE:CNH), will pay $2.6 million for false claims related to a Paycheck Protection Program loan.

Portfolio Pulse from Michael Juliano

July 19, 2024 | 6:35 pm