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Legal

AQN

Algonquin announced that its Corporate Governance Committee will review director nominations from Starboard Value and has advised shareholders not to take any action at this time. The company values open communication with shareholders and appreciates constructive input to enhance shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 10:34 am

AAPL

Carl Pei, CEO of Nothing, criticized Apple Inc. (NASDAQ:AAPL) for its 'walled garden' strategy amid an antitrust lawsuit by the DOJ. The lawsuit accuses Apple of violating antitrust laws by limiting competitors' access to iPhone features, potentially harming companies like Amazon, Microsoft, and HTC. Apple vows to fight the lawsuit, claiming it threatens its innovation and core principles.

Portfolio Pulse from Ananya Gairola

March 22, 2024 | 10:27 am

AAPL

GOOG

GOOGL

The U.S. Department of Justice (DOJ) has cited a 2022 conversation by Apple Inc. CEO Tim Cook in its antitrust lawsuit against the company. Cook's comments about preferring to sell an iPhone to users for better messaging interoperability between iPhones and Android devices, rather than improving the interoperability itself, have been highlighted as part of the lawsuit. This issue adds to the ongoing debate over messaging between Apple and Android devices, a topic that has seen complaints from Google and its Android partners. Apple's stance on messaging and its actions against third-party messaging app Beeper are also noted. Apple's shares saw a slight increase in premarket trading following this news.

Portfolio Pulse from Rounak Jain

March 22, 2024 | 9:44 am

AMGDF

Aston Martin Lagonda Glb (OTC:AMGDF) appoints Adrian Hallmark, current head of Bentley, as its new CEO effective Oct. 1. Hallmark replaces Amedeo Felisa amidst Aston Martin's efforts to manage a significant debt burden. The company aims for stability and growth under Hallmark's leadership, leveraging his extensive experience in the luxury automotive sector.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 9:38 am

ETHUSD

XRPUSD

Ripple CEO Brad Garlinghouse comments on the SEC's regulatory battles with the cryptocurrency industry, highlighting the ongoing challenges faced by Ethereum (ETH) and comparing them to Ripple's (XRP) past experiences. Garlinghouse criticizes the SEC for its legal struggles and conflicts with other regulators like the CFTC. The Ethereum Foundation is under scrutiny by a state authority, potentially affecting ETH's classification as a security, which could impact ETH-based ETFs and the broader crypto market. ETH's price was up 2.71% at $3,503.

Portfolio Pulse from Mehab Qureshi

March 22, 2024 | 9:18 am

MYGN

Myriad Genetics has been granted a foundational patent for Molecular Residual Disease (MRD) with an early priority date, marking a significant advancement in the field of genetic testing and cancer treatment.

Portfolio Pulse from Benzinga Newsdesk

March 22, 2024 | 7:14 am

COIN

META

RDDT

Ark Invest, led by Cathie Wood, purchased shares of Meta Platforms Inc (META) and Reddit (RDDT) on their debut, while selling Coinbase (COIN) shares. The firm bought 90,253 META shares valued at $45.82 million and 9,982 RDDT shares worth $503,492. Meanwhile, 199,526 COIN shares were sold for $52.27 million. The trades reflect Ark's strategic positioning in response to market trends and legal challenges faced by META.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 5:16 am

TSLA

Senator Elizabeth Warren has requested the SEC to investigate the independence of Tesla Inc.'s board, citing concerns over potential conflicts of interest between Tesla and CEO Elon Musk's private companies, including the social media platform X. Musk responded by suggesting the influence of Senator Warren's advisor, Joseph Bankman, who is the father of Sam Bankman-Fried, founder of the collapsed crypto exchange FTX.

Portfolio Pulse from Anan Ashraf

March 22, 2024 | 4:10 am

PLNT

Planet Fitness (NYSE:PLNT) faces backlash over a commercial accused of mocking women's safety concerns, particularly regarding locker room use. The ad, criticized for making light of serious safety issues, has sparked outrage on social media. This controversy adds to previous incidents questioning the gym's inclusive policies, which allow members to use locker rooms matching their gender identity. A notable incident in Alaska, where a man was found in the women's locker room, led to further scrutiny and a membership cancellation. Amid these controversies, Planet Fitness' stock has seen a decline, dropping 19.33% over the last year despite a recent 3.43% increase.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 3:38 am

AAPL

LULU

NKE

RDDT

TSLA

U.S. stocks saw a positive trend with Reddit's IPO outperforming expectations, Apple facing a DOJ lawsuit, Nike beating revenue estimates, Lululemon surpassing revenue expectations, and Tesla proving its 4680 cell production capabilities. Reddit's shares soared, while Apple's fell due to legal challenges. Nike, Lululemon, and Tesla also made significant moves.

Portfolio Pulse from Benzinga Neuro

March 22, 2024 | 3:36 am