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BTMD

Biote Corp. (NASDAQ:BTMD) has reached a settlement with its founder, Dr. Gary S. Donovitz, to repurchase 18.4 million shares at $4.17 per share, totaling approximately $76.9 million. This settlement resolves ongoing litigation and includes a mutual release of claims, termination of the founder advisory agreement, and non-compete and non-solicitation agreements. The repurchase is structured over a three-year period, with the first transaction of approximately $32.2 million completed on April 26, 2024. Biote believes this action will be accretive to shareholder value and allows the company to focus on strategic objectives and growth.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:20 pm

DB

PHG

TSLA

Philips closed higher after announcing a settlement, Deutsche Bank's stock fell following an update on Postbank litigation, and Tesla's stock rose on news of a partnership with Baidu for Full Self-Driving (FSD) technology.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 8:12 pm

EIS

Israel has proposed a 40-day ceasefire to Hamas in Gaza for the release of captives, reducing the number of hostages for release to 33. Concerns rise over potential ICC arrest warrants for Israeli officials, including Prime Minister Netanyahu, which could jeopardize the ceasefire agreement. U.S. Secretary of State Antony Blinken is touring the Middle East, emphasizing the importance of Hamas accepting Israel's ceasefire offer to halt the offensive in Gaza. The iShares MSCI Israel ETF (EIS) saw a 0.9% increase.

Portfolio Pulse from Piero Cingari

April 29, 2024 | 7:51 pm

CPRI

TPR

The court hearing for the Tapestry-Capri deal is scheduled for September 9, as decided by a judge, according to Bloomberg. This hearing is a critical step in the process of finalizing the acquisition.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 7:36 pm

DISH

SATS

Dish Network bondholders have initiated a lawsuit against the company, alleging improper asset transfers to EchoStar, which they claim could potentially harm Dish Network's financial position and their investment security. The legal action focuses on the movement of valuable assets that bondholders believe are critical to Dish Network's operational integrity and financial health.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 7:14 pm

META

SNAP

TikTok's parent company, ByteDance, opts to fight a potential U.S. ban in court rather than sell its assets, as mandated by a new bill signed by President Biden. The bill, which received bipartisan support, could force ByteDance to sell TikTok's U.S. operations within 9-12 months to avoid a ban. This situation benefits competitors like Meta Platforms Inc (META) and Snap Inc (SNAP), with Meta recently losing value due to poor quarterly results, while Snap's shares surged after a positive earnings report. TikTok CEO Shou Chew emphasizes the fight for freedom of expression and plans to challenge the ban's constitutionality, highlighting the national security versus First Amendment debate.

Portfolio Pulse from Natan Ponieman

April 29, 2024 | 6:40 pm

AZN

AstraZeneca Plc (NASDAQ:AZN) faces a class action lawsuit over its COVID-19 vaccine, developed with the University of Oxford, alleging it caused death and serious injury in rare cases. The company admitted in court that its vaccine could cause Thrombosis with Thrombocytopenia Syndrome (TTS) in very rare instances, but the causal mechanism remains unknown. Despite this, AstraZeneca disputes claims that the vaccine is defective and has overstated efficacy. The vaccine is no longer used in the UK for under-40s due to safety concerns. Victims seek £100 million in compensation. AZN shares are up 0.44% at $75.50.

Portfolio Pulse from Vandana Singh

April 29, 2024 | 6:38 pm

TMUS

The U.S. Federal Communications Commission (FCC) has finalized nearly $200M in fines against U.S. wireless carriers for illegal consumer data disclosures. T-Mobile and its Sprint unit are facing the largest fine of $103M.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 5:22 pm

ADXN

ANVS

CLVR

DCPH

Clever Leaves Holdings Inc. announced its decision to voluntarily delist from Nasdaq, causing a 60% drop in its shares. Other stocks moved significantly in Monday's session, with Deciphera Pharmaceuticals surging 73% after an acquisition announcement, and various companies like Collective Audience and ImmunityBio also seeing substantial gains. Losers included Annovis Bio, down 57% after disappointing trial results, and Addex Therapeutics, falling 48.8% due to a failed epilepsy study.

Portfolio Pulse from Avi Kapoor

April 29, 2024 | 5:04 pm

CSLR

Complete Solaria, Inc. (NASDAQ:CSLR) announced T.J. Rodgers as the new CEO, succeeding Chris Lundell. Rodgers plans to leverage his experience in fundraising and M&A to guide the company through its financial challenges, including a significant reduction in quarterly operating expenses and addressing quality issues. The company faces pressure from its private equity debt holders, particularly Carlyle, which Rodgers criticizes for their detrimental financial tactics. Complete Solaria also promoted Brian Wuebbels to COO. Rodgers aims to convert debt to equity to alleviate financial strain and criticizes Carlyle's approach to business and its impact on companies and communities.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 4:48 pm