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AVDL

JAZZ

Avadel Pharmaceuticals' shares surged after a favorable jury ruling in its patent litigation against Jazz Pharmaceuticals in the United States District Court for the District of Delaware.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 8:46 pm

AVDL

Avadel announced that the jury's decision will not affect the commercial launch or the potential of LUMRYZ to transform the lives of people with narcolepsy.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 8:41 pm

AVDL

JAZZ

Avadel Pharmaceuticals (NASDAQ:AVDL) responded to a jury ruling in a patent suit by Jazz Pharmaceuticals (NASDAQ:JAZZ) regarding LUMRYZ, a narcolepsy treatment. The jury ruled in favor of Avadel for one patent and against it for another. Avadel plans to appeal the unfavorable decision but does not expect it to affect LUMRYZ's commercial launch. LUMRYZ, approved by the FDA for narcolepsy treatment, has shown significant improvements in patients and has been granted seven years of Orphan Drug Exclusivity.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 8:39 pm

NYCB

New York Community Bancorp, Inc. (NYSE:NYCB) shares are tumbling due to the announcement of material weaknesses in its internal controls, a CEO replacement, and a Moody's downgrade to B3. The downgrade was influenced by delayed financial reporting, leadership changes, and fourth-quarter losses. NYCB shares have fallen significantly over the past year and month, with a current RSI indicating oversold conditions.

Portfolio Pulse from Erica Kollmann

March 04, 2024 | 8:37 pm

DWAC

The U.S. Supreme Court ruled to reinstate Donald Trump on the Colorado state ballot for the 2024 presidential election, overturning a previous decision based on the 14th Amendment's Insurrection clause. Trump hailed the decision as a victory for liberty and democracy, emphasizing that it's up to voters to decide election outcomes. He also discussed an upcoming Supreme Court case on presidential immunity related to actions taken during his presidency. Additionally, Trump criticized President Biden's border policies and opposed a bipartisan border security bill. Digital World Acquisition Corp (DWAC) shares rose 14% following the news.

Portfolio Pulse from Chris Katje

March 04, 2024 | 7:37 pm

SPR

The FAA's audit of Boeing and Spirit AeroSystems' 737 MAX production revealed multiple compliance failures in manufacturing quality control, process control, parts handling, storage, and product control. This raises concerns about the manufacturing standards and oversight of the 737 MAX aircraft.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 7:04 pm

NYCB

New York Community Bancorp's shares dropped following the announcement of material weaknesses in its internal controls over loan reviews, attributed to ineffective oversight, risk assessment, and monitoring activities.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 6:46 pm

AAPL

GOOGL

HPE

IWM

JBLU

NVDA

NYCB

TSLA

Stocks showed mixed performance with the Russell 2000 ETF outperforming major indices. Nvidia soared, while Apple, Alphabet, and Tesla faced declines. Gold and Bitcoin approached record highs. Macy's received a higher acquisition offer, and JetBlue ended its bid for Spirit Airlines due to regulatory issues. New York Community Bancorp saw a significant drop, and Hewlett Packard Enterprise surged post-earnings.

Portfolio Pulse from Piero Cingari

March 04, 2024 | 6:36 pm

BIVI

BTDR

FUFU

JOAN

Bitdeer Technologies Group's shares surged 10.2% after reporting positive Q4 financial results and successful testing of its Bitcoin mining chip, amidst a general rise in Bitcoin prices. Other stocks also saw significant movements, with BitFuFu Inc. leading with a 107% jump following its Nasdaq listing. The session also highlighted FDA approvals, strategic approaches, and financial results as key drivers for stock movements. Conversely, companies like BioVie Inc. and JOANN Inc. faced declines due to public offering pricing and bankruptcy reports, respectively.

Portfolio Pulse from Avi Kapoor

March 04, 2024 | 6:29 pm

AGRX

DARE

EVFM

EWQ

PFE

TEVA

VGK

France has made history by becoming the first country to explicitly include abortion rights in its constitution, according to a report by the Washington Post. This landmark decision could have implications for companies involved in women's health and reproductive products.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 5:53 pm