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Legal

CSIQ

Canadian Solar Inc. (CSIQ) is facing a lawsuit from Maxeon Solar over alleged patent infringement related to TOPCon solar technology. Canadian Solar denies the claims and intends to defend itself vigorously.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 11:07 am

AMD

BX

MCHI

NVDA

QCOM

Chinese President Xi Jinping met with U.S. CEOs, including Blackstone's Stephen Schwarzman and Qualcomm's Cristiano Amon, to discuss China's economy, U.S.-China relations, and Taiwan. Xi provided 'tough answers' and emphasized China's economic potential, criticized U.S. semiconductor export bans, and expressed displeasure with U.S. support for Taiwan's independence. The meeting aimed to entice U.S. businesses back to China amid geopolitical challenges. The iShares MSCI China ETF (MCHI) saw a slight increase.

Portfolio Pulse from Shanthi Rexaline

March 28, 2024 | 10:47 am

WXIBF

U.S. intelligence officials have accused WuXi AppTec Co Ltd (OTC:WXIBF), a Chinese pharmaceutical company, of illegally transferring U.S. intellectual property to Beijing. This revelation was made during a classified briefing to senators, amid broader concerns over Chinese companies' involvement in activities against U.S. national security interests. WuXi AppTec denies the allegations, emphasizing their commitment to safeguarding client data. The U.S. is considering legislation to restrict government funds to Chinese firms engaged in such activities.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 7:13 am

WBA

Walgreens Boots Alliance, Inc. (NASDAQ:WBA) is set to release its Q2 earnings before the market opens on March 28, 2024, with expectations of earnings at 82 cents per share, down from $1.16 per year ago, and projected revenue of $35.86 billion. The company is also dealing with a legal action against an arbitration award of nearly $1 billion to PWNHealth. Shares rose 2.5% to $21.02 recently. Analysts have revised their ratings and price targets, with Morgan Stanley cutting its price target from $22 to $21.

Portfolio Pulse from Avi Kapoor

March 28, 2024 | 6:36 am

F

GM

STLA

TSLA

Former Ford CEO Mark Fields believes established automakers like Ford, General Motors, and Stellantis are well-positioned for the EV transition, citing their strong ICE vehicle business and investor trust. This comes amid challenges like stringent emissions standards, supply chain issues, and concerns over EV adoption rates. Despite these, shares of GM, Stellantis, and Ford have risen, reflecting market optimism.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 6:24 am

AAPL

Oregon has passed a right-to-repair bill, SB 1596, that prohibits parts pairing in repairs, directly impacting Apple Inc. (NASDAQ:AAPL). This law, signed by Governor Tina Kotek, aims to facilitate consumer and third-party repairs by mandating companies to provide the same parts, tools, and repair documents to owners as to repair shops without extra charges. The bill, which does not apply to phones sold before July 1, 2021, but covers other consumer electronics sold after July 1, 2015, is seen as a significant move against electronic waste and restrictive repair practices.

Portfolio Pulse from Ananya Gairola

March 28, 2024 | 6:08 am

TSLA

Tesla Inc's CEO Elon Musk is urging German authorities to investigate and catch the arsonists responsible for an attack on the company's Berlin gigafactory, which halted production for a week. The attack, claimed by the Vulkan Group, has prompted discussions on Tesla's public relations and community integration in the region. Tesla plans to expand the Berlin factory's capacity for battery and car production.

Portfolio Pulse from Anan Ashraf

March 28, 2024 | 5:58 am

FSR

Fisker Inc. faced significant operational challenges, including the loss of millions in customer payments due to lax procedures, leading to an internal audit and resource diversion. The company recovered most payments but experienced delays in processing funds and filing its annual financial report for 2023. Fisker announced major price cuts for its 2023 Ocean SUV models amid financial struggles, including a recent delisting from the NYSE and failed investment talks. The company's cash balance significantly decreased, and it reported a substantial net loss for Q4. Despite production efforts, Fisker has a large inventory and initiated a production pause to address issues.

Portfolio Pulse from Anan Ashraf

March 28, 2024 | 5:28 am

GOOG

GOOGL

Google's report reveals China as the top exploiter of zero-day vulnerabilities in 2023, with a significant increase in cyber espionage activities. The report, by Alphabet Inc.'s Google, highlights a global surge in zero-day exploits, with China exploiting 12 in 2023, up from seven in 2022. This trend reflects broader concerns over China's cyber activities, including recent accusations from Australia, New Zealand, and the FBI regarding cyberattacks on democratic institutions and critical infrastructure.

Portfolio Pulse from Ananya Gairola

March 28, 2024 | 4:27 am

COIN

Edward Snowden predicts the SEC will face a significant defeat in its lawsuit against Coinbase Global Inc. (NASDAQ:COIN), referencing a past incident where the SEC had to approve Bitcoin ETFs after a legal loss. The SEC's lawsuit accuses Coinbase of operating as an unregistered securities dealer, a motion recently upheld by the court. Snowden, a Bitcoin supporter, remains optimistic about Bitcoin's future despite current legal challenges and recent price movements.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 1:06 am