Streetbeat News

Legal

GSK

PFE

SNY

Pfizer Inc has settled 10,000 lawsuits related to its discontinued heartburn medication Zantac over allegations of concealing cancer risks. The financial details of the settlements are undisclosed. This resolution does not fully absolve Pfizer from Zantac-related legal challenges. The litigation has previously impacted the market value of involved drugmakers, including Sanofi SA and GSK Plc, with a collective loss of about $45 billion in 2022. Sanofi and GSK have also made moves to settle Zantac-related lawsuits.

Portfolio Pulse from Vandana Singh

May 08, 2024 | 6:58 pm

CZR

MGM

OKTA

PNC

Cybersecurity researchers have identified that the hacking group Scattered Spider, previously focusing on casinos like MGM Resorts International, has shifted its attention to targeting banks and insurance companies, including breaches through Caesars Entertainment's external IT vendor. The group has impacted several companies, including Visa, PNC Financial Services, and Synchrony Financial, by deploying phishing links to steal credentials. Okta Inc is combating the group's tactics by introducing new security features.

Portfolio Pulse from Shivani Kumaresan

May 08, 2024 | 6:21 pm

EIS

ITA

The U.S. has temporarily halted a shipment of high-payload munitions to Israel, reflecting concerns over potential civilian casualties in Rafah, Gaza. The decision underscores discord between the U.S. and Israel, with the Biden administration conditioning aid on efforts to limit civilian harm. The shipment included 3,500 bombs intended to enhance strike precision, featuring technology from Boeing Co. (NYSE:BA). U.S. defense stocks, including the U.S. Aerospace & Defense ETF (NYSE:ITA), rose following the announcement, while Israeli-related stocks, tracked by the iShares MSCI Israel ETF (NYSE:EIS), also saw gains.

Portfolio Pulse from Piero Cingari

May 08, 2024 | 4:36 pm

FDX

A Boeing Co cargo plane, operated by FedEx Corporation, made an emergency gearless landing at Istanbul airport, with no casualties reported. The incident, involving a Boeing 767 freighter, is under investigation by Turkish authorities. Despite this, Istanbul Airport's operations remain largely unaffected. Boeing, facing a crisis from a recent 737 MAX incident, is restructuring its management. BA shares rose 0.8% following the news.

Portfolio Pulse from Vandana Singh

May 08, 2024 | 3:41 pm

AAPL

The Communication Workers Of America (CWA) has filed additional labor law violation charges against Apple, alleging the company has engaged in practices that infringe upon workers' rights.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 3:37 pm

HOUS

RMAX

Homebuyers have filed for a preliminary injunction to halt the final approval of settlements in antitrust lawsuits against major real estate franchisors Anywhere, Keller Williams, and RE/MAX. The plaintiffs argue that the settlements, intended to resolve claims of anticompetitive practices in real estate commissions, are inadequate. This legal action could significantly impact the operations and public perception of these companies.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 3:29 pm

EIS

SPY

The White House has announced that discussions regarding a potential hostage deal in Gaza are still in progress. Despite the existing gap between the two negotiating sides, there is optimism that this gap can be bridged.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 3:03 pm

INTC

QCOM

Qualcomm has confirmed reports that the U.S. has revoked its and Intel's export licenses to sell to Huawei, a major Chinese tech company. Qualcomm stated its commitment to comply with all applicable export control regulations.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:57 pm

SHOP

TSLA

UBER

USO

Tesla's stock falls due to reports of a DOJ probe. Shopify and Uber experience drops following their earnings reports. Oil prices decline as a result of an increase in crude inventory.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:38 pm