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Legal

UNH

The Biden administration is investigating UnitedHealth Group due to a cyberattack on its subsidiary, Change Healthcare, which has disrupted health-care payments and likely exposed millions of patients' data. The Department of Health and Human Services (HHS) aims to determine the breach's extent and compliance with HIPAA. The attack, described as the most significant in U.S. health system history, has led to frozen payments, affecting hospitals and doctors' ability to meet payroll. UnitedHealth is under pressure to expedite payments to affected providers, with the White House and lawmakers urging action. UnitedHealth has outlined steps to restore services, but critics argue these efforts are insufficient.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 5:17 pm

GIL

Browning West criticizes Gildan Activewear's Board for poor judgement in appointing Vince Tyra as CEO, citing failures in due diligence regarding Tyra's past behavior. Browning West, owning 5% of Gildan's shares, urges for Tyra's resignation and a board reconstitution, highlighting the need to protect shareholder interests and mitigate conflicts and risks.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 5:12 pm

GXAI

LUNA

NCNA

SKIN

SOS

VJET

Crude oil prices rose by 2.3% following a decline in U.S. inventories, contrary to market expectations of a gain. U.S. stocks showed mixed performance, with the Dow Jones up and NASDAQ down. Gaxos.ai Inc. saw a significant share price increase after acquiring AI technology rights. Other notable movements included NuCana plc and The Beauty Health Company shares rising, while voxeljet AG, SOS Limited, and Luna Innovations Incorporated shares fell.

Portfolio Pulse from Avi Kapoor

March 13, 2024 | 4:38 pm

BNBUSD

Nigeria has detained two Binance executives and demanded transaction data of the top 100 Nigerian users over the past six months, as part of an investigation into the cryptocurrency exchange's impact on the naira's stability. The Nigerian government views Binance as contributing to the naira's devaluation amidst the country's severe economic downturn. Binance has stopped trading in the naira following these developments. Binance Coin (BNB) was trading up 7.7% at $583.40.

Portfolio Pulse from Murtuza Merchant

March 13, 2024 | 4:31 pm

AAPL

Epic Games has filed a court document claiming that Apple is not complying with a court injunction related to the App Store's operations. This development could potentially impact Apple's App Store policies and its relationship with developers.

Portfolio Pulse from Happy Mohamed

March 13, 2024 | 4:24 pm

BA

SPR

The National Transportation Safety Board (NTSB) has issued a directive to Boeing, as reported by Reuters, emphasizing the necessity for the company to adhere to investigation rules concerning the disclosure of information. This development underscores the regulatory scrutiny Boeing is under, potentially affecting its reputation and operational protocols.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 4:11 pm

GOOG

GOOGL

MSFT

Alphabet Inc's Google faces criticism for its AI system, Gemini, due to quality issues and biases. The launch was rushed to compete with OpenAI's ChatGPT, leading to controversies, including racially inaccurate image generations. Google has since suspended its image generating software and limited its chatbot from generating answers related to global elections this year. Critics argue Gemini and similar AI could influence user opinions and biases, raising concerns about AI's role in shaping thoughts and democracy.

Portfolio Pulse from Natan Ponieman

March 13, 2024 | 3:21 pm

PIII

P3 Health Partners Inc. announced it will delay its Annual Report filing due to the need for more time to finalize its 2023 Financial Statements and disclosures. The company also revealed ongoing material weaknesses in its internal controls over financial reporting and anticipates disclosing substantial doubt about its ability to continue as a going concern, citing insufficient cash resources to support operations for the next 12 months.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:13 pm

FXI

SPY

A TikTok spokesperson has labeled a recent U.S. House bill as a 'ban' on the platform, expressing hope that the Senate will review the facts and listen to constituents before making a decision. The statement suggests TikTok is actively seeking to influence legislative outcomes in the U.S. to avoid potential restrictions or a ban.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 3:03 pm

META

The U.S. House of Representatives passed a bill requiring ByteDance to sell TikTok or face a U.S. ban, affecting 150 million users. The bill, supported by 352 votes, now moves to the Senate. Arguments varied, with some citing national security concerns and others economic harm and free speech risks. Rep. Massie criticized the bill as beneficial to rival Meta Platforms (META).

Portfolio Pulse from Neil Dennis

March 13, 2024 | 3:03 pm