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ORCL

Oracle's $28 billion acquisition of Cerner's AI-driven health records system has backfired, leading to patient deaths and significant liabilities. The flawed EHR system has caused thousands of medical orders to disappear, resulting in three deaths. Despite these setbacks, Oracle is in talks with Elon Musk's xAI for a potential $10 billion deal to rent AI servers.

Portfolio Pulse from Benzinga Neuro

May 20, 2024 | 10:35 am

PEV

SPI

Phoenix Motor Inc. has formed a special committee to investigate allegations against CEO Xiaofeng Denton Peng, including breach of fiduciary duty and unauthorized related party transactions. Peng has been suspended, and former CFO J. Mark Hastings is the interim CEO. The investigation is ongoing.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 10:10 am

AAL

ALK

CVX

DAL

HES

This week saw significant political and corporate news, including Chuck Schumer urging the FTC to reconsider the Chevron-Hess merger, and major airlines suing the Biden administration over new fee regulations.

Portfolio Pulse from Benzinga Neuro

May 19, 2024 | 11:00 am

TSLA

Tesla's board is attempting to reinstate Elon Musk's multibillion-dollar compensation package to ensure his full commitment to the company. The move comes amid concerns over Musk's divided attention due to his involvement in multiple ventures and controversial matters. The board is appealing to shareholders to re-approve the package, emphasizing its importance for Tesla's future.

Portfolio Pulse from Bibhu Pattnaik

May 18, 2024 | 9:01 pm

AZN

PBYI

Puma Biotechnology announced that a jury verdict was entered in favor of Wyeth and against AstraZeneca. The jury found that AstraZeneca infringed on the '314 and '162 patents and awarded the plaintiffs $107.5 million in damages.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 8:49 pm

GOOGL

META

SNAP

The Justice Department and TikTok have requested an expedited schedule from the appeals court regarding the divestiture or ban law, seeking a ruling by December 6.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 8:37 pm

BNTX

MRNA

BioNTech has stated that the European Patent Office's decision to maintain Moderna's patent EP No. 3 590 949 B1 in amended form does not change its stance on the patent. BioNTech believes that neither the patent nor any auxiliary requests filed by Moderna meet the requirements for patentability and will continue to defend its innovations against all allegations of patent infringement, including the EP '949 case.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 5:40 pm

PFE

Pfizer expressed disappointment over the European Patent Office's decision to maintain Moderna's European Patent EP3590949 B1. Pfizer is considering all legal options and may appeal the decision.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 5:40 pm

BNTX

MRNA

PFE

Moderna Inc. (NASDAQ:MRNA) has won a significant legal victory at the European Patent Office (EPO) in its patent dispute with Pfizer Inc. (NYSE:PFE) and BioNTech SE (NASDAQ:BNTX) over the COVID-19 vaccine. The EPO upheld the validity of Moderna's EP949 patent, which is crucial for its claims against Pfizer and BioNTech. Although Pfizer has nine months to appeal, this decision boosts Moderna's efforts to reclaim pandemic profits. Legal proceedings continue in multiple jurisdictions, and the financial stakes are high, with all three companies having generated significant revenue from COVID-19 vaccines in 2022.

Portfolio Pulse from Vandana Singh

May 17, 2024 | 4:46 pm

BNTX

MRNA

PFE

Moderna announced that the European Patent Office has decided to maintain the validity of its EP949 patent. This patent is one of the key patents currently asserted against Pfizer and BioNTech in various European national courts.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 4:09 pm