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WMT

$24.5 billion of fraudulent returns during the holiday season has major retailers like Walmart and Amazon fighting back with new strategies. Walmart warns of higher prices or store closures, while Amazon spent $1.2 billion and employed 15,000 people to combat fraud using machine learning. Kohls Corp. has also adjusted its return policies to mitigate losses.

Portfolio Pulse from Caleb Naysmith

February 05, 2024 | 5:36 pm

MNMD

Elon Musk's response to a Wall Street Journal article accusing him of using illicit drugs has sparked discussions. Meanwhile, Mind Medicine Inc. (NASDAQ:MNMD), a company developing psychedelic-inspired medicines, aims to transform mental health treatment. Despite a significant drop from its 2021 highs, MindMed's research into compounds like LSD and MDMA shows promise for treating various mental health issues without traditional pharmaceuticals. The company's stock has risen 12% in the past year but remains 94% below its peak.

Portfolio Pulse from Caleb Naysmith

February 05, 2024 | 5:04 pm

GOOG

GOOGL

Google is set to face a jury trial on September 9, 2024, due to an antitrust lawsuit filed by the U.S. Justice Department and several U.S. states, focusing on its digital ads business, as reported by Reuters citing a court order.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 4:56 pm

AAPL

NVDA

SSNLF

Samsung Electronics Co, led by Jay Y. Lee, was acquitted of stock manipulation charges, a significant legal victory allowing Lee to continue leading the company. This ruling comes as Samsung faces competition from Apple Inc in smartphones and SK Hynix Inc in AI, with plans to commercialize advanced chips by 2025 and 2027. The acquittal removes the threat of imprisonment for Lee, enabling him to focus on Samsung's challenges, including a downturn in the smartphone and memory chip markets. Nvidia Corp, a rival in the chip sector, saw its shares rise by 3.08% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

February 05, 2024 | 3:41 pm

FNB

FNB has agreed to invest $11.75 million in a loan subsidy fund and spend an additional $750,000 on advertising, outreach, and education as part of a consent order with the U.S. Department of Justice. The total settlement value is $13.5 million, and the consent order will last for 5 years, according to a court filing.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:09 pm

FNB

The U.S. government and North Carolina have filed a lending discrimination lawsuit against First National Bank of Pennsylvania. The bank has agreed to settle the case, according to a court filing.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:08 pm

SAN

Banco Santander shares are trading lower after a report indicated that Iran utilized Santander UK and Lloyds to secretly transfer funds, evading sanctions.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:07 pm

LYG

A spokesperson from Lloyds stated that the bank believes it has met all legal and regulatory obligations and, based on its own investigation, does not think it has breached any sanction requirements. This statement was reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 3:03 pm

AAPL

TSLA

A Tesla Inc. (TSLA) driver was pulled over for driving while wearing Apple Inc.'s (AAPL) new mixed reality headset, Apple Vision Pro. The incident has sparked a debate on social media, with some users calling for the driver's arrest for endangering road safety. The Apple Vision Pro's launch has led to various innovative and controversial uses, highlighting its potential and the risks of misuse.

Portfolio Pulse from Rounak Jain

February 05, 2024 | 1:59 pm

SUPN

Supernus Pharmaceuticals (SUPN) won a court case against Torrent Pharmaceuticals and its subsidiary, confirming the infringement and validity of patents related to Trokendi XR. The U.S. District Court for the District of New Jersey ruled that Torrent's submission of an ANDA to the FDA for a generic version of Trokendi XR infringed on Supernus' patents.

Portfolio Pulse from Benzinga Newsdesk

February 05, 2024 | 1:37 pm