Streetbeat News

Legal

BABA

ZK

Shein's plans for a New York IPO have collapsed due to geopolitical and legal issues, and its London IPO faces similar pressures. The company is now considering a Hong Kong listing. This reflects the increasing difficulty for Chinese firms to list in Western markets due to political and regulatory challenges. Despite this, some Chinese companies, like Zeekr, have successfully listed in New York.

Portfolio Pulse from The Bamboo Works

July 01, 2024 | 4:21 pm

DFS

FMQQ

IPO

NU

PMTS

The U.S. Supreme Court ruled that merchants can challenge debit-card swipe fees beyond a six-year statute, potentially leading to a surge in lawsuits against federal agencies. This decision may impact debit-card stocks and ETFs, with mixed reactions observed in mid-day trading.

Portfolio Pulse from Michael Juliano

July 01, 2024 | 4:18 pm

SAVA

Cassava Sciences (NASDAQ:SAVA) is cooperating with the DOJ and SEC amid investigations into its Alzheimer's drug, simufilam. The DOJ indicted Dr. Hoau-Yan Wang for fraudulent grant applications and manipulating research results. Cassava's internal investigation revealed potential unblinding of Phase 2b study participants. Despite the controversy, Cassava is proceeding with two Phase 3 clinical trials.

Portfolio Pulse from Vandana Singh

July 01, 2024 | 3:19 pm

GOOG

GOOGL

META

The Supreme Court has decided not to rule on the constitutionality of Texas and Florida laws aimed at preventing social media companies from banning users based on political views. This leaves lower court injunctions in place, impacting companies like Meta Platforms Inc (NASDAQ:META) and Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) YouTube.

Portfolio Pulse from Michael Cohen

July 01, 2024 | 3:11 pm

DWAC

Trump Media & Technology Group shares are trading higher after the Supreme Court ruled that former presidents are entitled to have immunity for acts within their Constitutional authority while in office.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 3:04 pm

DJT

The Supreme Court ruled that former presidents, including Donald Trump, have immunity for acts within their Constitutional authority while in office, but not for unofficial acts. This ruling could impact Trump's pending court cases ahead of the 2024 election. The decision was made with a 6-3 vote, with Chief Justice John Roberts issuing the majority opinion and Justice Sonia Sotomayer dissenting. The ruling may delay cases against Trump until after the 2024 election.

Portfolio Pulse from Chris Katje

July 01, 2024 | 2:58 pm

EWQ

NVDA

French antitrust regulators are preparing to charge Nvidia over alleged anti-competitive practices, according to sources. This development could have significant implications for Nvidia's operations and market position in Europe.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 2:45 pm

DJT

SPY

The U.S. Supreme Court has ruled that former presidents have 'absolute immunity' from prosecution for actions within their constitutional authority but are not immune from prosecution for actions taken in a private capacity.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 2:32 pm

SPY

The High Court's ruling on immunity is expected to further delay the trial of former President Donald Trump. This development could have implications for the stock market, particularly for ETFs like SPY that track the S&P 500 index.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 2:31 pm

DJT

SPY

The U.S. Supreme Court has overturned a judicial decision that previously rejected Donald Trump's bid for immunity from federal prosecution related to the 2020 election subversion. This development could have significant political and market implications.

Portfolio Pulse from Benzinga Newsdesk

July 01, 2024 | 2:28 pm