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Legal

AAPL

LKQ

The U.S. Court of Appeals for the Federal Circuit has overturned a previous decision favoring General Motors (GM) in a patent dispute with LKQ Corp. regarding fender designs. This ruling marks a significant shift in design-patent law, discarding a long-standing test for determining the validity of a design patent. The case has been remanded to the U.S. Patent Office for further review. The decision is seen as a win for LKQ and could impact the cost and availability of replacement auto parts.

Portfolio Pulse from Shivani Kumaresan

May 22, 2024 | 2:17 pm

AKTS

LYFT

NVDA

TSLA

UBER

Today's top headlines include a significant surge in Shiba Inu's burn rate, Tesla's new Model 3 exceeding expectations, and Wall Street's cautious stance ahead of Nvidia's earnings. Additionally, Uber and Lyft are preparing for pay increases in Minnesota, and Akoustis experiences a dramatic pre-market rise amid bankruptcy fears.

Portfolio Pulse from Akanksha Bakshi

May 22, 2024 | 1:54 pm

AMC

The Delaware High Court has upheld the conversion of AMC's APE stock, a significant legal decision for the company.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 1:27 pm

ICE

The SEC has charged Intercontinental Exchange, Inc. (ICE) a $10 million penalty for failing to inform the Commission of a cyber intrusion affecting nine of its subsidiaries, including the New York Stock Exchange, in a timely manner.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 1:07 pm

BAC

MRNA

ORCL

PLTR

On CNBC's 'Halftime Report Final Trades,' analysts discussed Oracle, Bank of America, Moderna, and Palantir Technologies. Oracle is nearing a $10 billion cloud-service contract with Elon Musk's AI startup, xAI. Bank of America benefits from increased net interest income and reported strong Q1 earnings. Moderna hit a 52-week high and won a significant legal battle in Europe. Palantir reported a 21% increase in Q1 revenue, beating estimates.

Portfolio Pulse from Avi Kapoor

May 22, 2024 | 1:03 pm

AKTS

QRVO

Akoustis Technologies shares are trading higher despite the company floating the probability of bankruptcy after losing a lawsuit against Qorvo.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 12:56 pm

GCT

GigaCloud Technology shares are moving lower after Grizzly Research issued a report accusing the company of inflating key metrics using undisclosed related party shell companies.

Portfolio Pulse from Benzinga Newsdesk

May 22, 2024 | 12:37 pm

AKTS

QRVO

Akoustis Technologies (NASDAQ: AKTS) saw a 200% pre-market surge after losing a $39M lawsuit to Qorvo Inc. (NASDAQ: QRVO), raising bankruptcy concerns. The lawsuit impacts Akoustis' ability to raise capital and continue operations.

Portfolio Pulse from Pooja Rajkumari

May 22, 2024 | 11:05 am

UK regulators have fined Citigroup Inc (NYSE:C) $79 million for trading control failures at its subsidiary, Citigroup Global Markets Limited (CGML). The fine was imposed due to deficiencies in CGML's trading controls, which led to significant trading incidents. The fine was reduced by 30% after Citigroup agreed to address the issues.

Portfolio Pulse from Benzinga Neuro

May 22, 2024 | 8:48 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) is urging shareholders to approve CEO Elon Musk's 2018 compensation package and the re-domestication of Tesla in Texas ahead of the annual meeting. The company emphasizes Musk's role in driving growth and creating shareholder value, while criticizing the Delaware Chancery court's decision to nullify the pay plan. Shareholder approval is deemed crucial for Tesla's future plans, with speculation that Musk might step down if the proposal fails.

Portfolio Pulse from Shanthi Rexaline

May 22, 2024 | 7:43 am