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Legal

CB

Chubb Ltd (NYSE:CB) CEO Evan Greenberg clarified that underwriting Donald Trump's $91.63M appeal bond in the E. Jean Carroll defamation lawsuit does not imply support for any party. The decision was based on supporting the rule of law, and the bond is fully collateralized. Trump's bond payment has raised concerns about national security and his ability to serve as president.

Portfolio Pulse from Benzinga Neuro

March 14, 2024 | 12:42 am

RDDT

Reddit Inc (NYSE:RDDT) is preparing for its IPO, targeting a $6.4 billion valuation despite concerns over its financial health, including a negative shareholder's equity of $412.9 million and a net income loss of $90.8 million. Discussions on r/stocks, particularly by user GuitarHero52, have sparked debates on Reddit's valuation, capital structure, and leadership, leading to mixed sentiments among investors. Some users are bullish, while others foresee a potential short opportunity, highlighting the company's controversial business model and management decisions.

Portfolio Pulse from Surbhi Jain

March 13, 2024 | 9:04 pm

NXPI

PI

Impinj shares are trading higher following the announcement of a patent litigation settlement with NXP Semiconductors, indicating a positive resolution to the legal dispute.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:51 pm

NXPI

PI

Impinj has reached a settlement in its patent litigation with NXP Semiconductors. As part of the agreement, NXP will make a one-time payment of $45 million to Impinj and will also make annual license fee payments.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 8:23 pm

DIS

Trian Fund Management, an activist investor in Disney, clarified that it does not oppose Bob Iger's reelection as CEO of Disney. They also stated that Ike Perlmutter is not seeking a board seat and will not influence the fiduciary responsibilities of Trian's candidates at Disney. Trian criticized Disney for being slow to adapt to streaming.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:43 pm

DIS

Trian Fund Management, L.P. has nominated Nelson Peltz and Jay Rasulo for election to Disney's Board of Directors, opposing the reelection of incumbents Michael B.G. Froman and Maria Elena Lagomasino. Trian criticizes Disney's current board for deflecting from performance issues and misrepresenting Trian's contributions, highlighting Disney's underperformance in stock and earnings. Trian, owning over $3.5 billion in Disney shares, advocates for change to improve governance and oversight, emphasizing Disney's potential for future outperformance.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:40 pm

ADM

The U.S. Justice Department is investigating Archer-Daniels-Midland (ADM) for potential improper accounting practices related to hedges in its ethanol trading unit, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 7:39 pm

ILMN

Carl Icahn has decided not to pursue a second proxy battle against Illumina Inc (NASDAQ:ILMN) due to the company's efforts to divest Grail and address antitrust concerns. Despite this, Icahn remains committed to legal action against Illumina's board for alleged mismanagement related to the Grail acquisition. Illumina is focusing on its core business amid the ongoing divestment process, with its shares slightly down in recent trading.

Portfolio Pulse from Vandana Singh

March 13, 2024 | 5:56 pm

GGME

META

PNQI

Meta Platforms, Inc (NASDAQ:META) faces ongoing scrutiny from the FTC over its Facebook unit's privacy practices, despite a previous $5 billion fine and a 2020 privacy settlement. A U.S. appeals court has denied Meta's bid to halt the FTC's investigation, which focuses on minors' data use and facial recognition technology. The court emphasized the public interest in the FTC's privacy concerns. Meta criticizes the FTC's actions as an overreach, while the FTC has not commented on the court's decision. Investors can gain exposure to Meta through Invesco Nasdaq Internet ETF (NASDAQ:PNQI) and Invesco Next Gen Media And Gaming ETF (NYSE:GGME).

Portfolio Pulse from Anusuya Lahiri

March 13, 2024 | 5:37 pm

CLOV

GXAI

LUNA

VERI

VJET

Clover Health Investments, Corp. (CLOV) shares rose by 11% after reporting better-than-expected Q4 revenue and FY24 guidance. Other stocks also moved significantly, with Gaxos.ai Inc. (GXAI) and Veritone, Inc. (VERI) among the top gainers, while voxeljet AG (VJET) and Luna Innovations Incorporated (LUNA) led the losers.

Portfolio Pulse from Avi Kapoor

March 13, 2024 | 5:18 pm