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META

Former President Donald Trump has criticized a potential TikTok ban, suggesting it benefits Meta Platforms Inc. (Facebook) by making it more dominant. Trump, who previously attempted to ban TikTok, now argues the move would unfairly advantage Facebook. The House has passed legislation requiring TikTok's sale or facing a ban, which President Biden supports. The White House denies seeking a TikTok ban, aiming instead for American ownership to protect data.

Portfolio Pulse from Benzinga Neuro

April 23, 2024 | 12:43 am

CPRI

TPR

Capri Holdings Limited issued a statement expressing strong disagreement with the Federal Trade Commission's (FTC) decision to block its proposed transaction with Tapestry, Inc. The FTC's action represents a significant regulatory hurdle for the merger between the two companies.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:21 pm

CPRI

TPR

Tapestry is responding to the FTC's attempt to block its acquisition of Capri Holdings, expressing confidence in the transaction's merits and its pro-competitive nature. The company aims to close the deal in 2024, highlighting the benefits for customers, employees, partners, and shareholders globally. Tapestry plans to defend the transaction in court.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:01 pm

TEVA

VNDA

The U.S. Supreme Court declined to review Vanda Pharmaceuticals Inc's (NASDAQ:VNDA) appeal to revive patents for its sleep-disorder drug Hetlioz, previously invalidated in a legal battle with Teva Pharmaceutical Industries Limited (NYSE:TEVA) and Apotex. This decision leaves Vanda without patent protection for Hetlioz, impacting its ability to exclusively sell the drug. Vanda's annual revenue from Hetlioz sales surpassed $100 million in 2023, but the company's shares dropped 4.21% to $4.89 following the news.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 6:37 pm

UNH

UnitedHealth Group Inc's CEO Andrew Witty is set to testify before a U.S. House subcommittee on May 1 about a cyberattack on its technology unit, Change Healthcare, that occurred on February 21. This attack disrupted payments to healthcare providers for a month, impacting the company's Q1 earnings by 74 cents per share and is expected to affect full-year 2024 earnings by $1.15 to $1.35 per share. The incident has raised concerns among lawmakers and has financially strained individuals and smaller providers.

Portfolio Pulse from Vandana Singh

April 22, 2024 | 6:35 pm

DJT

Donald Trump's wealth could increase as he may receive an additional 36 million shares of Trump Media & Technology Group (NASDAQ:DJT) if the stock meets certain price milestones. The shares, part of a performance-based earnout from a SPAC merger with Digital World Acquisition Corporation, could boost Trump's stake to 65% of the company. This comes amid volatility in DJT's stock price and concerns over short selling, with the company addressing potential naked short selling in a letter to Nasdaq.

Portfolio Pulse from Chris Katje

April 22, 2024 | 4:58 pm

CENX

CSTM

KALU

MLI

USAP

Lawmakers are advocating for an investigation into unfair trade practices in the aluminum extrusions sector, as reported by Bloomberg. This move could have significant implications for companies involved in the production and supply of aluminum extrusions, potentially affecting their market dynamics and competitive landscape.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:27 pm

VNDA

Vanda Pharmaceuticals' shares dropped following the US Supreme Court's decision not to hear its case on the invalidation of patents for Hetlioz.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:15 pm

VNDA

Vanda Pharmaceuticals' shares increased in value following the US Supreme Court's decision not to hear the company's case on the invalidation of patents for Hetlioz.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:12 pm

TEVA

VNDA

The U.S. Supreme Court declined to hear Vanda Pharmaceuticals' appeal to revive patents for Hetlioz, a sleep-disorder drug, after they were declared invalid in a dispute with Teva and Apotex. The patents were invalidated by the U.S. Court of Appeals for the Federal Circuit, which upheld a decision based on the obviousness of the patents. Vanda's sales of Hetlioz exceeded $100 million in 2023. The decision allows Teva and Apotex to proceed with generic versions of the drug.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:05 pm