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Legal

PRPL

TPX

Purple Innovation and Tempur Sealy International have entered into a post-acquisition framework to continue their partnership with Mattress Firm. This agreement also includes confirmation of Purple's patents, ensuring their technology remains protected. This strategic move aims to strengthen their market position and leverage their combined expertise in the mattress industry.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 8:04 pm

ILMN

Illumina's stock price has decreased following reports that Carl Icahn has decided not to initiate another proxy battle with the company's board.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 7:38 pm

GOOG

GOOGL

LCID

Lucid Group Inc (LCID) is in a trademark dispute with Gravity Technologies, backed by Alphabet Inc (GOOG, GOOGL), over the name of its Gravity SUV. Gravity Technologies, which operates EV charging stations and previously ran an electric taxi fleet, filed a petition for cancellation against Lucid's vehicle trademark, citing potential consumer confusion. Lucid, facing a significant stock decline and reduced production estimates, is fighting the petition, despite the potential high costs and impact on its trademarks.

Portfolio Pulse from Chris Katje

March 12, 2024 | 7:38 pm

FXI

SPY

TikTok is preparing for a comprehensive legal battle if the U.S. passes a bill requiring the company to divest its American operations. The move comes amid growing concerns over data privacy and national security. The potential legislation could significantly impact TikTok's business model and its presence in the U.S. market.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 6:31 pm

SPY

Republican U.S. Representative Ken Buck announced his resignation from Congress, effective at the end of next week, according to a statement on X.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 6:14 pm

JAZZ

Paige Figi, mother of Charlotte Figi who inspired the FDA-approved CBD medicine Epidiolex by Jazz Pharmaceuticals (NASDAQ:JAZZ), advocates for CBD access and regulation through her non-profit, Coalition for Access Now. Despite CBD's legalization under the 2018 Farm Act, the market remains unregulated, posing safety risks. Figi supports bills H.R. 1629 and S. 2451 to regulate CBD as a dietary supplement, emphasizing the urgency due to the wide-ranging benefits of CBD for various consumer groups.

Portfolio Pulse from Nina Zdinjak

March 12, 2024 | 5:44 pm

ILMN

Carl Icahn has decided not to pursue his previously considered plan to challenge the board of directors at Illumina, according to sources cited by Reuters. This development could signal a de-escalation in the potential conflict between the activist investor and the biotechnology company.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:37 pm

DGLY

Digital Ally announced it has received a Notice of Allowance for its U.S. Patent Application 18/076,960, titled 'Breath Analyzer, System, And Computer Program For Authenticating, Preserving, And Presenting Breath Analysis Data'. This development marks a significant milestone for the company in enhancing its intellectual property portfolio related to breath analysis technology.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 4:31 pm

COIN

MSTR

TSLA

The crypto market cap hits $2.5T with Bitcoin, Ethereum, Dogecoin surging as MicroStrategy buys more BTC. Tesla's German factory resumes after an arson attack. MILLI's value increases, outperforming Dogecoin and Shiba Inu. $47M stolen in crypto phishing in February. Bitcoin's volatility expected to decrease, while Ethereum's ETF approval odds drop. Ark Invest sells Coinbase shares despite Bitcoin's new highs. Tesla offers early Cybertruck delivery to long-term shareholders, and Volvo aims to cut EV charging times.

Portfolio Pulse from Akanksha Bakshi

March 12, 2024 | 4:04 pm

DWAC

Former President Donald Trump reportedly attempted to sell Truth Social to Elon Musk, owner of X (formerly Twitter), but failed. The conversation did not lead to a deal, but they have remained in contact. Trump also sought campaign donations from Musk for the 2024 election and invited him to speak at the GOP convention, which Musk declined. The report emerges as the SPAC merger between Digital World Acquisition Corp (DWAC) and Truth Social's parent company, Trump Media & Technology Group (TMTG), faces delays and litigation. Trump, facing significant legal fees and penalties, views TMTG as a financial lifeline. Musk, having bought Twitter and rebranded it to X, has criticized Truth Social and is seen as a competitor.

Portfolio Pulse from Chris Katje

March 12, 2024 | 3:45 pm