Streetbeat News

Legal

AAPL

A counterfeit cryptocurrency app named 'Rabby Wallet & Crypto Solution' on Apple Inc.'s App Store has scammed users, including a reported loss of $5,000. Despite being reported, the app remained accessible for years. This incident raises concerns about the App Store's review process and Apple's ability to protect users from fraudulent apps. The situation is particularly significant as Apple CEO Tim Cook recently emphasized the company's commitment to security, amidst discussions on the EU's App Store regulations potentially compromising iPhone security.

Portfolio Pulse from Rounak Jain

February 19, 2024 | 3:15 pm

FSR

Tech YouTuber Marques Brownlee criticized Fisker Inc's Ocean SUV, calling it the worst car he's reviewed due to multiple issues, despite solid fundamentals. Fisker faces challenges in the competitive electric SUV market, with the NHTSA investigating complaints about the vehicle. Fisker's stock has fallen nearly 89% over the past year.

Portfolio Pulse from Anan Ashraf

February 19, 2024 | 10:38 am

META

SNAP

Snap Inc. (NYSE:SNAP) faces growing investor frustration due to its financial underperformance, with its stock plummeting 40% this month after reporting a $248 million loss and another round of layoffs. Wedbush's Dan Ives highlighted the continuous disappointment among investors, contrasting Snap's struggles with Meta Platforms' (NASDAQ:META) record ad sales profits. Snap's leadership, particularly CEO Evan Spiegel, is under scrutiny as investor confidence wanes, exacerbated by Snap's significant control structure and ongoing legal challenges.

Portfolio Pulse from Benzinga Neuro

February 19, 2024 | 7:32 am

ACDVF

Air Canada (OTC:ACDVF) was ordered to refund a passenger misled by its chatbot about bereavement fares. The airline argued the chatbot was a separate legal entity, but the tribunal ruled against it, ordering a partial refund. This case highlights the legal and operational challenges companies face with AI chatbots, amid growing reliance on such technology across various sectors.

Portfolio Pulse from Ananya Gairola

February 19, 2024 | 7:28 am

GOOGL

ME

Marco Troper, the 19-year-old son of former YouTube CEO Susan Wojcicki and a freshman at UC Berkeley, was found dead in his dorm, likely due to a drug overdose. His death highlights the dangers of fentanyl, a leading cause of death among Americans aged 18-45. The Wojcicki family, influential in Silicon Valley, is devastated by the loss.

Portfolio Pulse from Maureen Meehan

February 18, 2024 | 8:01 pm

AAPL

Apple Inc. (NASDAQ:AAPL) is expected to be fined approximately €500 million by the European Commission for allegedly breaching EU law with its music streaming services. This follows a formal complaint by Spotify in 2019, accusing Apple of anti-competitive practices. The fine, one of the largest against tech firms by the EU, highlights ongoing tensions between Brussels and Big Tech over market competition.

Portfolio Pulse from Benzinga Neuro

February 18, 2024 | 3:14 pm

ANET

DIS

NVDA

PANW

TSLA

The article discusses the end of a five-week winning streak for major indexes due to unexpectedly high inflation data, influencing market expectations for Federal Reserve rate cuts. It highlights bullish and bearish perspectives on stocks like Tesla, Nvidia, Disney, and AI-related companies Palo Alto Networks and Arista Networks, as well as a prediction for Dogecoin. Concerns over inflation, market peaks, and corporate governance issues at Disney are also mentioned.

Portfolio Pulse from Michael Cohen

February 17, 2024 | 2:22 pm

DWAC

Donald Trump was fined $350 million in a New York civil fraud case, banned from doing business in the state, and prohibited from applying for loans from NY-chartered financial institutions for three years. His niece, Mary Trump, commented on the significant financial and psychological impact of the verdict on Trump, highlighting the challenges he faces in covering the fines and damages exceeding his liquid assets. The verdict's timing coincides with the SEC clearing a merger involving Trump's media company, potentially boosting his finances.

Portfolio Pulse from Shanthi Rexaline

February 17, 2024 | 2:03 pm

META

Elon Musk criticizes Meta Platforms Inc. (NASDAQ:META) for using 'election integrity' as a pretext for censorship, in response to Meta's President revealing a $20 billion investment in 'safety and integrity' efforts. This ongoing dispute highlights Musk's stance on free speech and Meta's controversial censorship practices.

Portfolio Pulse from Ananya Gairola

February 17, 2024 | 8:30 am

AMZN

Amazon.com, Inc. (NASDAQ:AMZN) has filed a legal argument against the National Labor Relations Board (NLRB), claiming it is unconstitutional. This move aligns with previous actions by SpaceX and Trader Joe's amid disputes over labor union issues. Amazon's filing responds to allegations of unlawful retaliation against unionizing workers at a New York City warehouse. The company argues that the NLRB's structure violates the separation of powers and infringes on executive powers, also claiming that NLRB proceedings deny the company a fair trial and due-process rights.

Portfolio Pulse from Ananya Gairola

February 17, 2024 | 7:13 am