Streetbeat News

Legal

ADM

FBI agents have issued grand jury subpoenas to current and former employees of Archer Daniels Midland (ADM) in Illinois, as part of an escalating accounting investigation. The subpoenas, issued by the Southern District of New York, are seeking information, messages, and devices related to ADM's accounting practices, specifically focusing on sales from two divisions to its Nutrition Unit.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 8:25 pm

LLY

Eli Lilly And Co (NYSE:LLY) is taking legal action against various entities for selling fake compounded versions of tirzepatide, found to contain bacteria and impurities. These products falsely claim to be alternatives to Eli Lilly's diabetes and weight loss medications, Mounjaro and Zepbound. The company is also increasing production of Zepbound through partnerships.

Portfolio Pulse from Vandana Singh

March 07, 2024 | 7:47 pm

ETH-USD

SOL-USD

ZynCoin, a cryptocurrency inspired by Zyn Nicotine pouches, has seen a remarkable surge of over 4,000% in three weeks, reaching a market cap of $80 million. Available on Ethereum and Solana networks, it's gained traction as a 'culture coin' among social media traders and has been compared to other meme coins like Pepe. Despite its success, concerns about trademark and intellectual property issues loom. Mechanism Capital has invested $577,000 in ZynCoin, signaling confidence in its potential despite the risks associated with meme coins.

Portfolio Pulse from Khyathi Dalal

March 07, 2024 | 6:54 pm

AAPL

VGK

EU Industrial Chief Thierry Breton has announced that the EU will prioritize investigating Apple's decision to terminate Epic Games' developer account. This move comes amid ongoing tensions between Apple and Epic Games over app store policies and fees.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:50 pm

MDT

The FDA has classified Medtronic Neurosurgery's recall of its Duet External Drainage and Monitoring System Catheter Tubing as a Class I recall due to the risk of catheter disconnection. This issue has already resulted in 26 reported injuries. The recall highlights a significant safety concern for patients using the device.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 5:49 pm

AAPL

GOOGL

RIVN

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin are on the rise as investors buy the dip, with Bitcoin ETFs seeing strong inflows. The Arizona Senate is considering BTC ETFs for pension funds. Gold hits an unprecedented high amid economic uncertainties. US markets and stocks record gains, while major spending bills pass in the US House to prevent government shutdown. Tech giants like Apple and Google face scrutiny and challenges, while the EV market sees activity from Rivian and Tesla. Healthcare and energy sectors also see notable developments.

Portfolio Pulse from Akanksha Bakshi

March 07, 2024 | 4:23 pm

MSOS

Senate Majority Leader Chuck Schumer announced to Marijuana Moment that passing a cannabis banking bill is a 'very high priority'. This development could significantly impact the cannabis industry, potentially easing banking and financial transactions for businesses within the sector.

Portfolio Pulse from Charles Gross

March 07, 2024 | 3:57 pm

ACI

KR

A Kroger executive stated the company is committed to defending its merger with Albertsons against the FTC's lawsuit, believing it to be the best outcome for America's families. Hearing dates are expected in mid- to late summer.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:43 pm

KVUE

Kenvue shares experienced a significant increase as traders shared analyst comments indicating a favorable final judgment for Kenvue in the Tylenol lawsuit, leading to the dismissal of the cases.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 3:36 pm

AAPL

GOOGL

Google One introduces a new bundle for U.K. subscribers, adding Nest Aware and Fitbit Premium to its cloud storage plans. This move aims to enhance Google's subscription services and positions Google One as a strong competitor to Apple One. The update is currently exclusive to the U.K. and seems to be gradually rolling out. This strategy is significant for Alphabet Inc. in the competitive cloud services market and comes amid concerns about potential monopolies in cloud computing and legal challenges faced by competitors like Apple Inc.

Portfolio Pulse from Benzinga Neuro

March 07, 2024 | 3:11 pm