Streetbeat News

Legal

DJT

A New York judge approved the $175 million bond posted by former President Trump to appeal a $364 million judgment in a civil fraud case. The bond, underwritten by Knight Specialty Insurance Company, prevents asset seizure by NY Attorney General Letitia James while Trump appeals. The insurance company, not registered with NY's Department of Financial Services, agreed to new terms including exclusive control of the bond account and monthly statements ensuring sufficient funds.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 4:03 pm

TCNNF

Federal OSHA experts emphasized the need for safety strategies in the cannabis industry following the first occupational-related cannabis death in Massachusetts. Trulieve (OTCQX:TCNNF) faced a lawsuit after an employee died from asthma exacerbated by workplace exposure. OSHA's webinar highlighted the importance of industry involvement in training and reporting symptoms of occupational allergy. Despite cannabis being federally illegal, OSHA standards still apply to employers in the industry, stressing the need for marking hazardous chemicals and establishing robust health and safety standards.

Portfolio Pulse from Nina Zdinjak

April 22, 2024 | 3:59 pm

GSK

SNY

Sanofi has agreed to pay $100 million to settle lawsuits alleging that its heartburn medication Zantac caused cancer. This settlement aims to resolve a significant portion of the legal challenges faced by the company related to Zantac.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:31 pm

DJT

SPY

The opening statement in the criminal trial concerning hush money involving former President Donald Trump has commenced in New York. This marks a significant development in the legal challenges facing Trump.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:29 pm

WRNT

Warrantee's stock price has declined following the announcement of a Nasdaq delisting determination. The company plans to appeal the decision.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:29 pm

OPTT

Paragon Technologies, the largest shareholder of Ocean Power Technologies (OPTT), urges OPTT to stop dilutive equity raises and offers up to $3M in non-dilutive preferred equity to prevent insolvency and shareholder losses. Paragon criticizes OPTT's management and recent performance, highlighting a nearly 40% drop in share price and market's loss of faith in OPTT's strategy. Paragon has also filed a complaint alleging an invalid annual meeting and criticizes OPTT's decision to raise capital at the expense of shareholder value.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:59 pm

COF

DFS

MA

V

Visa Inc (NYSE:V) is facing bearish momentum ahead of its Q2 earnings report, with expectations of $2.44 EPS and $8.62 billion in revenues. The stock has declined over 7% since March 21, influenced by Capital One's acquisition of Discover Financial Services and a class action settlement requiring Visa and Mastercard to reduce swipe fees. Mastercard also experienced a stock decline of 6.80% since March 21. Visa's technical setup shows bearish trends, but analysts have an Outperform consensus with a price target of $301.67, indicating a potential upside.

Portfolio Pulse from Surbhi Jain

April 22, 2024 | 1:39 pm

SWBI

The Supreme Court has agreed to review the Biden administration's rule on 'ghost guns', which are firearms without serial numbers, making them difficult to trace. This review could have significant implications for gun control laws and the regulation of untraceable firearms. The outcome of this case could impact companies involved in the firearms industry, including those manufacturing or selling parts that could be used to assemble ghost guns.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:31 pm

NSC

Ancora Holdings Group, LLC, a significant shareholder in Norfolk Southern Corporation (NYSE:NSC), has issued a letter to shareholders urging them to support its campaign to elect a new slate of seven directors to Norfolk Southern's Board at the upcoming Annual Meeting on May 9, 2024. Ancora criticizes the current leadership's handling of the company, particularly its deal with CPKC and the hiring of a third COO in 2.5 years, and advocates for a PSR-powered scheduled network to improve service, safety, and value.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 1:16 pm

MSFT

SPY

TSLA

Bitcoin transaction fees have reached a 5-year low post-halving, while US stocks anticipate a rise due to Big Tech earnings. The US political landscape is heated with discussions on TikTok bans and support for Israel. Globally, tensions rise with military spending and diplomatic efforts. The NYSE considers 24/7 trading, and tech giants like Microsoft and Meta are in focus. The EV market sees Tesla at 15-month lows and discussions on pricing strategies. Express files for bankruptcy, and TikTok faces regulatory challenges. Quanex acquires Tyman, and Plus Therapeutics receives a grant from the US Department of Defense. Blackstone bids for Hipgnosis, and Elon Musk predicts home robots for every American household.

Portfolio Pulse from Akanksha Bakshi

April 22, 2024 | 1:12 pm