Streetbeat News

Legal

SPY

President Biden is set to announce major changes to the Supreme Court, including term limits for justices and an enforceable ethics code. This move comes in response to recent ethics scandals and controversial decisions by the court. The changes would require congressional approval.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 9:21 pm

T

Two U.S. Senators have requested answers from AT&T regarding a hacking incident that compromised call data from approximately 109 million customer accounts. They are also inquiring if AT&T will compensate affected customers.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 8:15 pm

ACHC

UHS

Universal Health Services (UHS) and Acadia Healthcare (ACHC) are under scrutiny following safety concern allegations at their psychiatric hospitals. An investigation revealed alarming incidents at Mt. Carmel Behavioral Health, managed by Acadia, prompting regulatory attention. Both companies face accusations of understaffing and inadequate training, raising concerns about patient and staff safety.

Portfolio Pulse from Vandana Singh

July 16, 2024 | 8:02 pm

DJT

SPY

Iran's UN Mission has denied accusations of plotting against former President Donald Trump, calling the claims 'unsubstantiated and malicious.' The mission labeled Trump 'a criminal who must be prosecuted and punished' for ordering the killing of an Iranian general and stated that Iran has chosen the legal path to bring him to justice.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 7:11 pm

ZM

Zoom Video Communications Inc (NASDAQ:ZM) experienced a meteoric rise during the COVID-19 pandemic, with its stock value increasing by almost 900% in a year. However, security issues and misrepresentation of encryption practices led to a significant decline in stock value and a class-action lawsuit. In October 2023, Zoom settled the lawsuit by agreeing to pay $150M to affected investors. Despite improvements in security, Zoom faces stiff competition from Microsoft Teams and Google Meet.

Portfolio Pulse from Stan Vick

July 16, 2024 | 5:58 pm

TSN

Tyson Foods Inc (NYSE:TSN) CFO John R. Tyson has pleaded not guilty to charges of driving while intoxicated and careless driving. Tyson, who was suspended following his June arrest, is negotiating a settlement with prosecutors. His trial is scheduled for August 28. Despite previous incidents, Tyson Foods' board had expressed confidence in his role. Curt Calaway is currently serving as interim CFO.

Portfolio Pulse from Shivani Kumaresan

July 16, 2024 | 5:29 pm

SPY

U.S. Senate Majority Leader Chuck Schumer has called for Senator Bob Menendez to resign following his conviction. This development could have political implications and may affect market sentiment.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 5:20 pm

MU

SMH

VTV

Micron Technology Inc. (NASDAQ:MU) is facing a federal lawsuit for allegedly infringing on 11 patents owned by Chinese chipmaker Yangtze Memory Tech. Co. Ltd. (YMTC). The lawsuit follows a $445 million jury verdict against Micron for infringing Netlist Inc.'s semiconductor patents. Despite these legal challenges, Micron remains optimistic about its future, focusing on AI computing and enterprise storage products. Investors can gain exposure to Micron through VanEck Semiconductor ETF (NASDAQ:SMH) and Vanguard Value ETF (NYSE:VTV).

Portfolio Pulse from Anusuya Lahiri

July 16, 2024 | 5:15 pm

FXD

SKX

XMMO

Skechers USA Inc. (NYSE:SKX) has filed a lawsuit against LL Bean for allegedly copying its shoe designs. The lawsuit, filed in Manhattan federal court, claims LL Bean's Freeport casual shoes infringe on Skechers' patented heel cup designs. Skechers seeks unspecified damages and aims to halt the sales of the infringing shoes. The outcome could impact the footwear industry's approach to design patents and market entry strategies. Skechers stock has gained over 26% in the last 12 months, and investors can gain exposure via First Trust Consumer Discretionary AlphaDEX Fund (NYSE:FXD) and Invesco S&P Midcap Momentum ETF (NYSE:XMMO).

Portfolio Pulse from Shivani Kumaresan

July 16, 2024 | 3:59 pm

PM

Health campaigners have written to U.S. regulators accusing Philip Morris International (PM) of misrepresenting past regulatory decisions, seeking to disrupt the launch of its heated tobacco device IQOS in the U.S. The campaign groups allege PMI violated FDA orders by suggesting IQOS offers lower risks than cigarettes.

Portfolio Pulse from Benzinga Newsdesk

July 16, 2024 | 12:25 pm