Streetbeat News

Legal

LMT

The Supreme Court has denied the review of the case 'BLENHEIM CAPITAL LTD., ET AL. V. LOCKHEED MARTIN CORP., ET AL.', which involves Lockheed Martin Corp. This decision means that the lower court's ruling stands.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 1:41 pm

DKNG

MGM

PENN

RSI

WYNN

The U.S. Supreme Court has denied the petition to hear the Florida sports betting case, allowing the gaming compact that permits online sports betting in Florida to stand. This decision is likely to impact shares of several sports betting companies.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 1:40 pm

NVDA

SPY

The U.S. Supreme Court has agreed to hear Nvidia's bid to dismiss a securities fraud lawsuit brought by shareholders. This legal development could have significant implications for Nvidia's stock price and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 1:31 pm

ADSK

Autodesk Inc (NASDAQ:ADSK) shares surged after activist investor Starboard Value acquired a $500 million stake and pushed for margin improvements and board changes. Starboard's letter to shareholders emphasized the potential for growth and profitability improvements. The investor also filed a lawsuit to reopen the nomination window for the company's board.

Portfolio Pulse from Adam Eckert

June 17, 2024 | 1:10 pm

ADSK

Starboard Value has issued a letter to Autodesk's board, indicating its intention to file a lawsuit to delay the 2024 annual meeting and reopen the nomination window. Starboard believes Autodesk has the potential to improve its growth and profitability.

Portfolio Pulse from Benzinga Newsdesk

June 17, 2024 | 12:08 pm

MSFT

Bill Gates has expressed confidence in Microsoft's leadership amid a federal investigation over security concerns. Despite recent high-profile hacking incidents and criticism, Gates praised CEO Satya Nadella and President Brad Smith for their handling of security challenges.

Portfolio Pulse from Benzinga Neuro

June 17, 2024 | 12:00 pm

ADDYY

Adidas AG (OTC:ADDYY) is investigating serious bribery allegations in its China operations following a whistleblower's claims. The accusations involve high-ranking officials and significant embezzlement from the company's marketing budget. Despite the allegations, no staff members have been suspended, and the company has engaged external legal counsel to investigate.

Portfolio Pulse from Shivani Kumaresan

June 17, 2024 | 9:44 am

ADSK

Starboard Value has invested $500 million in Autodesk (NASDAQ:ADSK) and is pushing for operational and governance changes. The activist investor is concerned about Autodesk's profit margins, corporate governance, and handling of a recent accounting investigation. Starboard is considering legal action to reopen Autodesk’s director-nomination window and delay the annual shareholder meeting. Autodesk's stock has declined by 7% this year, and Goldman Sachs recently lowered its price target for the company.

Portfolio Pulse from Benzinga Neuro

June 17, 2024 | 1:36 am

TSLA

Tesla shares saw a bounce after CEO Elon Musk hinted at shareholder support for his 2018 compensation plan, but pulled back sharply after the approval was confirmed. Analyst Per Lekander criticized Tesla, calling it a bubble and predicting a 50% drop in earnings this year. He set a $15 price target and flagged risks like class action lawsuits and board compensation. Lekander compared Tesla to Enron and noted that retail traders are currently holding up the stock.

Portfolio Pulse from Shanthi Rexaline

June 16, 2024 | 10:13 pm

AAPL

BA

GME

TSLA

Benzinga reviewed the prospects of popular stocks, highlighting bullish and bearish views. Key points include Jim Cramer's optimism about GameStop, Tim Cook's announcement of new AI features for Apple, and concerns about Elon Musk's engagement with Tesla. Additionally, the FAA is investigating Boeing and Airbus for potentially falsified titanium parts.

Portfolio Pulse from Michael Cohen

June 15, 2024 | 1:21 pm