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Legal

AAL

DAL

LUV

UAL

Congressional negotiators are set to enhance the provisions regarding airline refunds in the upcoming U.S. aviation bill, according to Reuters. This move could significantly impact airlines' operations and financial strategies, ensuring more robust consumer protection in cases of flight cancellations and delays.

Portfolio Pulse from Charles Gross

May 07, 2024 | 8:44 pm

EA

MSFT

TTWO

A jury ruled that Microsoft Corp.'s Activision Blizzard must pay $23.4 million to tech incubator Acceleration Bay for patent infringement related to networking and broadcasting in multiplayer games, including World of Warcraft and two Call of Duty titles. The lawsuit, initiated in 2015, concluded on May 3. The case was overseen by the U.S. District Court for the District of Delaware. Acceleration Bay has pursued similar lawsuits against other companies, including Electronic Arts Inc, Take-Two Interactive Software Inc, and Amazon Web Services.

Portfolio Pulse from Franca Quarneti

May 07, 2024 | 8:44 pm

AAPL

BRK

BofA Securities analyst Wamsi Mohan reiterated a Buy rating on Apple Inc (AAPL) with a price target of $230, highlighting Apple's largest share buyback authorization of $110 billion and a 4% dividend increase. Warren Buffett's Berkshire Hathaway reduced its stake in Apple, citing tax reasons but expects it to remain its largest holding. Apple's gross margin and services momentum are seen positively, despite a decline in operating margins in China. Apple faces EU and DoJ legal challenges but plans to defend itself vigorously. Apple's manufacturing purchase commitments and inventory declined, but it returned $27.3 billion to shareholders in Q2.

Portfolio Pulse from Anusuya Lahiri

May 07, 2024 | 8:01 pm

LYV

Live Nation Entertainment Inc (NYSE:LYV) is preparing to discuss with the DOJ's senior division leadership regarding a lawsuit that challenges the merger between Live Nation and Ticketmaster. CFO Joe Berchtold expressed confidence that a breakup is not a legally permissible outcome. Despite facing potential antitrust litigation and a class action lawsuit from investors, Live Nation reported a 21% increase in Q1 revenue, indicating strong concert demand.

Portfolio Pulse from Aaron Bry

May 07, 2024 | 7:53 pm

PFE

SRPT

Shares of Sarepta Therapeutics (SRPT) increased following circulation of a STAT News report about a young boy's death in a trial for Pfizer's (PFE) Duchenne muscular dystrophy (DMD) gene therapy. Sarepta Therapeutics produces a competing DMD drug.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 7:52 pm

PFE

Pfizer shares are under scrutiny as traders react to a STAT News report about a young boy's death during a trial for Pfizer's Duchenne gene therapy. This incident raises concerns about the safety and future prospects of Pfizer's gene therapy program.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 7:31 pm

NVO

Novo Nordisk has requested additional time to respond to Senator Bernie Sanders regarding inquiries about the pricing of Ozempic, aiming to extend their deadline past May 8.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:37 pm

DJT

Judge Juan Merchan ruled that a mistrial in former President Trump's hush money case is not warranted, according to Reuters. This decision keeps the legal proceedings against Trump ongoing, focusing on allegations related to hush money payments.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:17 pm

BRKR

TXG

The German Federal Patent Court has invalidated European Patent No. 2794928b1 in Germany, impacting companies BRKR (Bruker Corporation) and TXG (10x Genomics, Inc.) which may have had interests or stakes related to this patent.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:09 pm

BRKR

TXG

The German Federal Patent Court invalidated a patent asserted by 10x Genomics against NanoString, now a Bruker business, impacting sales of CosMx SMI products in Germany. This legal victory for Bruker (NASDAQ:BRKR) follows a previous win at the UPC Court of Appeal. NanoString will seek to end the injunction in Germany and expects reimbursement for legal expenses.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 6:08 pm