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Legal

GOOG

GOOGL

META

PINS

SNAP

The U.S. Supreme Court has ruled against a free speech challenge to the Biden administration's contacts with social media platforms. This decision could impact companies like Alphabet (GOOG, GOOGL), Meta Platforms (META), Pinterest (PINS), and Snap Inc. (SNAP).

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 2:03 pm

IYG

XLF

A U.S. District Judge has dismissed a $30 billion antitrust settlement involving Visa and Mastercard, which aimed to cap fees charged to merchants. This decision may lead to further negotiations or a trial. The settlement was opposed by numerous merchants and trade groups, who argued it provided minimal relief and maintained excessive control for Visa and Mastercard.

Portfolio Pulse from Lekha Gupta

June 26, 2024 | 1:20 pm

AAPL

AMZN

GOOG

GOOGL

META

MSFT

SPOT

EU regulators found that Apple violated the Digital Markets Act by blocking software developers from telling customers how to access content outside the App Store. Apple is also facing a separate investigation for charging a 'core technology fee' for iOS apps in the EU. In the U.S., Apple is defending itself against antitrust charges. The Digital Markets Act aims to limit the monopoly power of tech giants like Apple, Amazon, Alphabet, Microsoft, ByteDance, and Meta. The European Commission is also investigating Alphabet and Meta for similar issues.

Portfolio Pulse from Upwallstreet

June 26, 2024 | 1:17 pm

BRK/A

IBKR

Interactive Brokers (IBKR) will incur a $48 million loss due to a trading anomaly involving Berkshire Hathaway (BRK/A) stock on June 3. The NYSE has denied compensation claims filed by Interactive Brokers.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 12:42 pm

DJT

META

MSFT

Trump Media & Technology Group (NASDAQ:DJT) has a surprising $6 billion valuation despite modest revenue and user base. LinkedIn co-founder Reid Hoffman and other experts criticize the valuation, suggesting it should be around $40 million. The stock has gained 187.28% YTD but recently declined following Trump's legal issues.

Portfolio Pulse from Anusuya Lahiri

June 26, 2024 | 11:39 am

NAK

Northern Dynasty Minerals Ltd. (NYSE:NAK) reports that two Alaska Native Village corporations, Iliamna Natives Limited and Alaska Peninsula Corporation, have filed a lawsuit against the EPA for vetoing the Pebble Project. The lawsuit claims the EPA exceeded its authority and ignored the potential economic benefits for local communities.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 11:08 am

META

Mark Zuckerberg's decision to post on social media despite his PR team's objections has caused internal turmoil at Meta Platforms Inc. (NASDAQ:META). The incident, related to a strategy called 'Project Amplify,' has come to light through lawsuits concerning Meta's handling of child and teen safety. The PR team's frustration highlights the challenges in managing Zuckerberg's public image.

Portfolio Pulse from Rounak Jain

June 26, 2024 | 10:59 am

EFTR

eFFECTOR Therapeutics has been declared in default on a $75M loan from Oxford Finance. The default notice cites material adverse changes and insolvency, making all obligations immediately due and payable with interest accruing at the default rate.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 10:05 am

Elon Musk criticized Boeing's leadership for lacking engineering expertise amid the company's ongoing crises, including potential criminal charges related to the 737 Max crashes and delays in the Starliner spacecraft's mission. Musk highlighted the contrast between Boeing's struggles and SpaceX's successes.

Portfolio Pulse from Anan Ashraf

June 26, 2024 | 9:10 am

UFO

Elon Musk has called for suing Jeff Bezos' Blue Origin after the company filed a public comment urging the FAA to limit SpaceX's Starship launches. Blue Origin's actions include capping launch rates and imposing penalties for violations. Musk criticized these moves as attempts to impede SpaceX's progress.

Portfolio Pulse from Shanthi Rexaline

June 26, 2024 | 8:16 am