Streetbeat News

Legal

GHBWF

GLASF

A Los Angeles Superior Court judge is expected to dismiss a lawsuit against Glass House Brands Inc. (OTCQX:GLASF) (OTC:GHBWF), accused by Catalyst Cannabis Co. of profiting from the illicit cannabis market. The judge noted that enforcement should be handled by the Department of Cannabis Control (DCC). Catalyst's CEO expressed disappointment but hinted at potential further legal actions.

Portfolio Pulse from Patricio Liddle

June 25, 2024 | 10:31 pm

NTDOY

SONY

Palworld, a game by Pocketpair, has faced controversy for its resemblance to Pokémon, leading to an investigation by Nintendo ADR’s The Pokémon Company. Despite this, the game has gained significant popularity. Pocketpair's founder, Takuro Mizobe, defended the game's originality and mentioned the challenges of creating new content. The game may be released on Sony's PlayStation, but a Nintendo Switch version is uncertain.

Portfolio Pulse from Franca Quarneti

June 25, 2024 | 9:03 pm

DJT

DKNG

Trump Media & Technology Group (NASDAQ:DJT) could see high volatility following the first 2024 presidential debate. The company's stock has experienced significant price swings related to events surrounding Donald Trump, including his legal troubles and election-related news. Sportsbook DraftKings Inc (NASDAQ:DKNG) is also offering a prediction pool for the debate.

Portfolio Pulse from Chris Katje

June 25, 2024 | 8:45 pm

GOOG

GOOGL

Google has outlined the potential costs and implications of allowing third-party app stores, such as the Epic Games Store, to operate within the Google Play Store. The integration would require 12 to 18 months and cost between $60 million to $137 million. Google emphasizes that financial costs are not the only concern, citing risks to user safety and its reputation. Epic Games will have the opportunity to challenge Google's estimates, with a final court hearing scheduled for August 14.

Portfolio Pulse from Franca Quarneti

June 25, 2024 | 6:35 pm

HD

The U.S. Supreme Court has declined to hear Home Depot's objection to a $2.7 billion settlement against Blue Cross Blue Shield, effectively upholding the antitrust agreement and a $667 million fee award for class attorneys. Home Depot had argued that the settlement would restrict future antitrust claims and that the fee award was excessive.

Portfolio Pulse from Vandana Singh

June 25, 2024 | 6:17 pm

DWAC

RUM

A judge has largely lifted the gag order on former President Donald Trump in the New York hush-money case, allowing him to discuss witnesses and jurors. This development could have implications for companies associated with Trump, such as Digital World Acquisition Corp (DWAC) and Rumble Inc. (RUM).

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 5:53 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares are trading lower after a 1-for-30 reverse stock split and the filing of a prospectus for the offering of up to 23.89 million shares. The company faces challenges including a multi-billion dollar lawsuit from its founder and pending removal from the Russell 3000 Index.

Portfolio Pulse from Erica Kollmann

June 25, 2024 | 5:17 pm

GM

General Motors (NYSE:GM) shares are trading lower due to a combination of factors including an increased price target from Wells Fargo, a fine from California regulators over a self-driving vehicle incident, and the withdrawal of GM Financial's deposit insurance application. Additionally, GM Defense announced a new project to provide battery-electric technology for military platforms.

Portfolio Pulse from Nabaparna Bhattacharya

June 25, 2024 | 4:35 pm

BTCUSD

FTX is seeking court approval for a liquidation plan to repay customers in cash based on November 2022 cryptocurrency prices, which has led to backlash from customers who feel shortchanged. The plan could repay 98% of customers within 60 days if approved.

Portfolio Pulse from Murtuza Merchant

June 25, 2024 | 3:40 pm

VZ

The FCC has fined Verizon $1.05 million for a 2022 outage that affected the 911 system in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 3:38 pm