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Legal

HE

Hawaiian Electric's stock surged following a report of a settlement plan related to the deadly Lahaina fire in Maui. The agreement aims to resolve claims from the incident, though the settlement amount has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 9:08 pm

NAVI

NNI

SLM

SOFI

A federal appeals court has blocked President Biden's SAVE student loan debt relief plan, causing potential confusion for borrowers. Companies servicing student loans, including SoFi Technologies, Nelnet, Navient, and SLM Corp, saw their shares decline following the news.

Portfolio Pulse from Erica Kollmann

July 18, 2024 | 8:30 pm

MRK

Merck & Co Inc (NYSE:MRK) secured a legal victory as the 3rd U.S. Circuit Court of Appeals upheld the dismissal of nearly 1,200 lawsuits related to its Zostavax shingles vaccine. The court ruled that the plaintiffs failed to provide required clinical test results. MRK stock is down 2.18% at $123.14.

Portfolio Pulse from Vandana Singh

July 18, 2024 | 6:55 pm

ARDX

Ardelyx Inc (NASDAQ: ARDX) has filed a lawsuit against the U.S. Department of Health and Human Services and the Centers for Medicare and Medicaid Services over the inclusion of its kidney disease treatment drug, Xphozah, in the Medicare payment bundle system. The company argues that this decision will limit patient access to crucial medications. The lawsuit highlights broader concerns within the pharmaceutical industry regarding regulatory decisions impacting drug accessibility and patient care standards.

Portfolio Pulse from Vandana Singh

July 18, 2024 | 6:51 pm

DVA

DaVita Inc. has agreed to pay over $34 million to settle allegations of illegal kickbacks, according to the Department of Justice (DOJ).

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 6:42 pm

SPY

A US Appeals Court has blocked the Biden administration's new student debt relief plan, which could have significant implications for the economy and various sectors.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 6:09 pm

GOOG

GOOGL

VOX

XLC

Alphabet (NASDAQ:GOOGL) stock is trading lower due to an investigation by the Italian Competition Authority into Google's methods for obtaining user consent for linking data across its services. The probe focuses on potential inadequacies and misleading information in Google's consent requests. This investigation could impact how Google manages user data within the EU.

Portfolio Pulse from Shivani Kumaresan

July 18, 2024 | 6:01 pm

LLY

TEVA

Teva Pharmaceutical Industries Ltd (NYSE:TEVA) announced positive Phase 3 trial results for Ajovy, its migraine treatment, in children aged 6-17. The trial met its primary endpoint, showing significant efficacy over placebo. Safety data was consistent with adult populations. This is the first Phase 3 evidence of an anti-CGRP monoclonal antibody's safety and efficacy for pediatric migraine prevention. The news follows a favorable legal outcome for Teva against Eli Lilly (NYSE:LLY) regarding patent infringement.

Portfolio Pulse from Vandana Singh

July 18, 2024 | 4:06 pm

SWI

A U.S. judge has dismissed most of the SEC's lawsuit against SolarWinds, which accused the company of concealing cyber risks prior to a hacking incident.

Portfolio Pulse from Benzinga Newsdesk

July 18, 2024 | 2:02 pm

BA

ITA

PPA

Boeing Co (NYSE:BA) faces a potential strike as Washington state factory workers voted overwhelmingly in favor of a strike mandate, demanding a 40% raise. The strike cannot occur before the contract expires on September 12. This comes as Boeing struggles with market share loss to Airbus SE (OTC:EADSY) and other legal issues. Boeing's stock has lost over 12% in the last 12 months. Investors can gain exposure to Boeing via IShares U.S. Aerospace & Defense ETF (BATS:ITA) and Invesco Aerospace & Defense ETF (NYSE:PPA).

Portfolio Pulse from Shivani Kumaresan

July 18, 2024 | 12:30 pm