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ABUS

MRNA

Jefferies issued a note on Arbutus Biopharma following the LNP Markman hearing, indicating that the judge's decision favors Arbutus over Moderna. This development could have implications for both companies, especially in terms of their legal and competitive positions.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 6:13 pm

DWAC

RUM

SPY

The U.S. Supreme Court has postponed its decision on Trump v. Anderson, concerning the removal of Trump's candidacy from the Colorado ballot, until Friday, Feb. 16. This case has potential implications for companies associated with Trump.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 5:26 pm

BRK

FRFHF

Carson Block of Muddy Waters Research announced a short position on Fairfax Financial Holdings (OTCPK: FRFHF), accusing it of financial manipulation and overvaluing assets. Fairfax responded, disagreeing with the allegations. Shares of Fairfax fell nearly 9% following the report. Block criticized Fairfax's financial practices, including investments and governance, comparing its aspirations to Berkshire Hathaway (NYSE:BRK) unfavorably.

Portfolio Pulse from Piero Cingari

February 08, 2024 | 5:25 pm

DWAC

The Supreme Court is set to hear arguments regarding former President Donald Trump's eligibility for the 2024 election ballot in Colorado, following his removal due to a violation of the 14th Amendment's insurrection clause. This case could influence Trump's presence on ballots in other states and impact the 2024 presidential election. Shares of Digital World Acquisition (NASDAQ:DWAC), merging with Trump Media & Technology Group, may be affected by the outcome.

Portfolio Pulse from Chris Katje

February 08, 2024 | 4:38 pm

AAL

DAL

LUV

UAL

A Senate committee has approved a bill that significantly increases the maximum civil penalties for airline consumer violations, raising the cap from $25,000 per violation to $75,000. This legislative move aims to enforce stricter compliance and accountability among airlines regarding consumer rights and safety standards.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 4:23 pm

NSTG

NanoString Technologies has entered into a debtor-in-possession credit facility agreement, according to an SEC filing. The agreement provides for an initial loan of $12.5 million, with an additional $35 million available upon final court approval. Furthermore, there is a provision for a $95 million debt 'roll up' from a previous agreement.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 3:56 pm

LLY

NVO

SNY

Eli Lilly And Co (NYSE:LLY) shares have surged 8% since Monday, closing at $724.85 on Wednesday, with a market cap of $690 billion. The company's fourth-quarter results exceeded expectations, forecasting FY 2024 sales between $40.4 billion and $41.6 billion, above the consensus of $39.14 billion. Analysts from BMO Capital, BofA Securities, Wells Fargo, Barclays, Morgan Stanley, and Truist Securities have raised their price targets for LLY. Additionally, Eli Lilly settled a lawsuit in Minnesota related to insulin pricing, agreeing to provide low-cost insulin and donate to clinics, impacting affordability.

Portfolio Pulse from Vandana Singh

February 08, 2024 | 3:37 pm

JBLU

SAVE

Spirit Airlines Inc (NYSE:SAVE) reported a 5% Y/Y decline in Q4 fiscal 2023 revenue to $1.322 billion, slightly above consensus. Adjusted EPS showed a loss of $(1.36), an improvement over the expected $(1.46). Passenger revenues decreased by 5.3% Y/Y, while other revenues increased by 15.7%. The company faced a contraction in load factor and a decrease in total revenue per ASM and per passenger flight segment. Amidst these financial results, Spirit and JetBlue Airways Corporation (NASDAQ:JBLU) are appealing a court injunction against their merger, with a hearing set for June 2024.

Portfolio Pulse from Akanksha Bakshi

February 08, 2024 | 3:36 pm

AAPL

GOOG

META

MSFT

Meta Platforms Inc (NASDAQ:META) is challenging a supervisory fee imposed by the EU under the new Digital Services Act (DSA), which is calculated as 0.05% of its annual global net income. This fee is part of the EU's efforts to monitor compliance with the DSA, requiring companies like Meta, Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL), Apple Inc (NASDAQ:AAPL), and others to enhance content policing measures. Meta's legal challenge, filed in Luxembourg's General Court, arises from disagreements over the fee calculation method, particularly the exemption of companies reporting a loss. This situation has led to an uneven distribution of the fee burden. The EU has also scrutinized other tech giants, including Microsoft Corp (NASDAQ:MSFT), under the DSA.

Portfolio Pulse from Anusuya Lahiri

February 08, 2024 | 3:16 pm

DIS

FUBO

SFTBY

Cryptocurrencies surge amid small banking fears and potential regulatory advancements. US markets show signs of overbought levels but remain optimistic. Political and global events continue to influence market sentiments. Tech and EV sectors see significant developments, while consumer and communication sectors experience notable stock movements. Financial sector reports gains, particularly for SoftBank. General news highlights include corporate and legal updates.

Portfolio Pulse from Akanksha Bakshi

February 08, 2024 | 2:28 pm