Streetbeat News

Legal

VZ

The FCC has settled with Verizon for over $1 million due to violations related to a 911 outage.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 3:33 pm

MA

V

A judge has blocked a $30 billion swipe-fee settlement deal involving Visa and Mastercard. This decision could have significant financial implications for both companies.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 3:06 pm

VSTO

The sale of Vista Outdoor's ammunition business to Czech company CSG Group is facing scrutiny from the DOJ's antitrust lawyers and the Committee on Foreign Investment in the U.S. (CFIUS). Concerns include market concentration and national security. The DOJ's antitrust inquiry is in early stages, and the CFIUS review could conclude soon. Vista controls a majority of the U.S. primer market, and the acquisition could lead to greater pricing power for CSG. A competing bidder, MNC Capital, has also made a higher offer for Vista's ammunition business.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 2:56 pm

NSC

The National Transportation & Safety Board (NTSB) gave a presentation on the recent Norfolk Southern train derailment. The presentation covered the causes, impact, and future safety measures to prevent such incidents.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 2:05 pm

CVS

RADCQ

WBA

A U.S. Bankruptcy Judge ruled against MedImpact in a $200 million debt dispute with Rite Aid. MedImpact assumed Elixir's debts when it acquired the company. Rite Aid's bankruptcy plan aims to reduce its debt by $2 billion. CVS Health and Walgreens Boots Alliance are also involved due to reimbursement payments owed.

Portfolio Pulse from Vandana Singh

June 25, 2024 | 1:54 pm

IXN

MSFT

TEAM

XLK

ZM

The European Union has charged Microsoft with anti-competitive practices for bundling its Teams app with its Office suite, potentially disadvantaging competitors like Slack and Zoom. Microsoft is attempting to address these concerns by proposing to unbundle Teams from Office products outside Europe. The company faces a potential fine of up to 10% of its annual global revenues if found guilty. Microsoft is also under scrutiny for its $13 billion partnership with OpenAI. Over the last decade, Microsoft has paid $1.71 billion in EU antitrust fines. Microsoft stock has gained over 36% in the last 12 months.

Portfolio Pulse from Anusuya Lahiri

June 25, 2024 | 1:36 pm

MMAT

The SEC has charged Meta Materials (MMAT) and its former CEOs with market manipulation, fraud, and other violations. This legal action could have significant implications for the company's stock price and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 1:20 pm

TEVA

Teva has reached an agreement with the Israel Tax Authority to resolve all pending litigation by agreeing to pay $750 million in installments from 2024 to 2029. Additionally, Teva will pay an extra 5%-7% in corporate taxes on any future dividends or equity repurchases, up to $500 million.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 12:02 pm

AMD

ARM

INTC

QCOM

Arm Holdings CEO Rene Haas believes analysts have underestimated the rapid growth of AI, which is significantly impacting the company's performance. Arm Holdings, recently added to the Nasdaq 100, has seen its stock surge nearly 140% since its public debut in September. The company is positioning itself as a major player in the AI chip market, despite facing legal challenges with Qualcomm.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 5:57 am

AAPL

A former Apple employee, Ashley Gjovik, has accused Apple of exposing her to hazardous chemicals from a secret chip manufacturing facility, leading to severe health issues. Gjovik reported the issue to the EPA, which found 19 potential regulatory violations at Apple's Santa Clara site. Apple has not responded to these allegations.

Portfolio Pulse from Ananya Gairola

June 25, 2024 | 4:15 am