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BPAY

HPQ

IPAY

WEX

WEX Inc. has filed a lawsuit against HP Inc. and Hewlett-Packard Development Company, L.P. for trademark infringement over the use of 'HP Wex', claiming it confuses the market due to similarities in software and solutions offered by both companies. WEX, which has used the name since 1989 and rebranded in 2012, seeks a preliminary injunction to stop HP's alleged infringement. The dispute impacts investors through exposure in ETFs like BlackRock Future Financial And Technology ETF (BPAY) and Amplify Mobile Payments ETF (IPAY).

Portfolio Pulse from Lekha Gupta

April 11, 2024 | 4:56 pm

UNH

UnitedHealth Group Inc (NYSE:UNH) faces scrutiny over executives' stock sales totaling $101.5 million ahead of a public antitrust investigation reveal. The sales occurred after the company was allegedly notified of the DOJ probe but before it became public knowledge. Additionally, a cyberattack on UnitedHealth's Change Healthcare subsidiary has raised concerns. Despite the investigation, the trades were reportedly approved, raising questions about the approval process and potential blackout periods. The DOJ is investigating UnitedHealth's acquisitions for potential antitrust violations. UnitedHealth's stock dropped 5.2% following the investigation reports.

Portfolio Pulse from Vandana Singh

April 11, 2024 | 4:08 pm

APVO

ELYM

ENLV

KMX

RCEL

RENT

RLYB

U.S. stocks showed mixed performance with the Dow Jones falling by 100 points and NASDAQ rising. CarMax Inc reported lower than expected Q4 earnings, with a sales decline and EPS below estimates. Rallybio Corporation, Eliem Therapeutics, and Rent the Runway saw significant stock increases due to collaboration news and financial results. Conversely, Aptevo Therapeutics, Enlivex Therapeutics, and AVITA Medical experienced substantial drops in their stock prices due to public offering pricing, trial results, and revenue updates respectively.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 3:55 pm

BHC

A U.S. Appeals Court has ruled in favor of Bausch Health Companies Inc. (BHC), allowing it to prevent Alvogen from producing a generic version of its Xifaxan diarrhea drug until 2029, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:50 pm

NKLA

M&M Residual and Trevor R. Milton have withdrawn their nomination of directors for Nikola Corporation's Board, citing concerns over potential fraud and misconduct by the company's management and certain directors. They highlighted issues such as operational underperformance, product liability, and misleading public statements, which have led to significant stockholder value destruction. The company's recent undisclosed sale of the Nikola Badger and powersports program, and the handling of Nikola trucks catching fire, were specifically criticized. M&M Residual and Milton are considering legal action against Nikola's officers and directors, and have dissolved their previous group intending to solicit Nikola stockholders for the upcoming Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:35 pm

BHC

Bausch Health Companies Inc. has appealed a court ruling regarding a legal dispute with Norwich over the drug Xifaxan. The appeal follows a decision that could impact Bausch Health's rights or profits related to Xifaxan, a significant product in their portfolio.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 2:59 pm

F

The U.S. Auto Safety Agency has initiated an investigation into a fatal crash in Pennsylvania involving a Ford Mach-E, where it's suspected that the advanced driver assistance system was in use at the time of the accident.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 2:27 pm

INMD

BTL Industries, Inc. has filed a petition with the U.S. Patent Office to cancel all 58 claims of U.S. Patent No. 8,961,511, which is owned by InMode Ltd. BTL's CEO, David Chmel, stated they believe InMode's patent claims are invalid and have requested the initiation of invalidation proceedings.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 1:27 pm

GL

Globe Life (GL) shares dropped following a report by Fuzzy Panda Research, alleging extensive insurance fraud within the company. The report claims that sales agencies involved in over $200 million of AIL's ALP, constituting more than 60% of AIL's new business, engaged in fraudulent activities such as writing policies for deceased or fictitious individuals, forging customer signatures, unauthorized bank withdrawals, and actuarial fraud. Additionally, it alleges illegal kickbacks to Globe Life executives exceeding $65 million.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 1:04 pm