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ROBO

FDA inspectors found deficiencies in record-keeping and quality controls at Elon Musk's Neuralink during inspections of its animal research facilities. These issues come shortly after Neuralink received clearance for human testing of its brain implants. The inspections revealed missing calibration records and lapses in quality control, particularly at the California facility, while the Texas facility showed no issues. These findings raise concerns about Neuralink's attention to detail and its readiness for human trials, despite FDA approval based on the company's data.

Portfolio Pulse from Vandana Singh

February 29, 2024 | 2:26 pm

GSK

GSK Plc (NYSE:GSK) has confidentially settled another lawsuit in California alleging its heartburn drug Zantac caused cancer. This is the second settlement within a month, with previous cases also resolved confidentially. GSK does not admit liability in these settlements. The settlements resolve the final three breast cancer bellwether cases in California, exempting GSK from further pre-trial hearings. Zantac was a top-selling medication but was pulled from the market in 2020 due to carcinogenic concerns. GSK's stock rose 1.02 to $42.77 in premarket trading.

Portfolio Pulse from Vandana Singh

February 29, 2024 | 2:21 pm

MDT

Medtronic has initiated an ITC action against Axonics, accusing the latter of importing and selling products that infringe on two of Medtronic's patents concerning the MRI compatibility of implantable medical devices.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 2:04 pm

GOOG

GOOGL

XLC

Alphabet Inc's Google is facing a 2.1-billion-euro lawsuit from 32 media groups, including Axel Springer and Schibsted, over its digital advertising practices. The lawsuit accuses Google of market dominance abuse, leading to financial losses for these media companies. This legal action is part of broader antitrust scrutiny that Big Tech companies like Google, Apple, Amazon, Meta Platforms, and Microsoft are facing. The lawsuit was filed in a Dutch court, known for its strategic importance in antitrust damage claims in Europe. U.S. Big Tech companies continue to face regulatory scrutiny and lawsuits globally. The Communication Services Select Sector SPDR Fund, with significant exposure to Google, has seen a 9% increase year-to-date.

Portfolio Pulse from Anusuya Lahiri

February 29, 2024 | 2:03 pm

META

Eight EU consumer groups have filed complaints against Meta Platforms Inc. (NASDAQ:META), accusing it of illegal data processing and violating GDPR. The complaints focus on Meta's 'pay-or-consent' policy, which allegedly covers up the lack of a legal basis for its extensive data collection from Facebook and Instagram users. This follows Meta's attempts to address privacy concerns, including proposals for consent-based ads and paid ad-free versions of its platforms.

Portfolio Pulse from Rounak Jain

February 29, 2024 | 12:48 pm

ASLN

ASLAN Pharmaceuticals has received a favorable opinion from the European Patent Office on its composition of matter patent application for Farudodstat, ensuring exclusivity for the drug until at least 2043. This development is significant for the company's intellectual property rights and its ability to commercialize Farudodstat in the European market.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 12:16 pm

DOGEUSD

Elon Musk reaffirmed his support for Dogecoin (DOGE) in June 2022 amidst a lawsuit accusing him of running a 'Dogecoin Crypto Pyramid Scheme'. Since his endorsement, Dogecoin's value has doubled from $0.060 to $0.12, marking a 100% increase. Dogecoin is now the 10th largest cryptocurrency with a market capitalization of $18.3 billion.

Portfolio Pulse from Mehab Qureshi

February 29, 2024 | 11:47 am

TSLA

Tesla Inc (NASDAQ:TSLA) is accused by a local water authority near its German Gigafactory in Grünheide of polluting Berlin's drinking water with hazardous pollutants exceeding permitted levels. Despite warnings, Tesla has not addressed the pollution issues. This adds to Tesla's challenges in Germany, including opposition to its expansion plans. Tesla aims to double the plant's capacity for battery and car production, but faces environmental and community concerns.

Portfolio Pulse from Anan Ashraf

February 29, 2024 | 11:46 am

GSK

GSK has settled a lawsuit related to Zantac (Ranitidine) with Boyd/Steenvoord, avoiding a trial set for April 2, 2024. The settlement is confidential, and GSK does not admit any liability. GSK will continue to defend itself in other Zantac cases.

Portfolio Pulse from Benzinga Newsdesk

February 29, 2024 | 10:34 am

AAPL

Apple Inc's shareholders voted against a proposal for an AI transparency report, which aimed to examine the ethical use of AI by the company. The proposal was rejected during Apple's annual meeting, alongside other measures concerning equal employment policies and human rights. The rejection follows Apple's strategic shift towards generative AI, abandoning its electric car project. Additionally, two long-serving directors stepped down, and CEO Tim Cook's pay structure saw a significant change, with a 36% reduction in annual compensation.

Portfolio Pulse from Benzinga Neuro

February 29, 2024 | 4:01 am