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Legal

DWAC

SPY

The defamation trial against Donald Trump, brought by E. Jean Carroll, is set to resume on Thursday, according to court records cited by Reuters. The trial will not take place on Wednesday as previously scheduled.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:47 pm

DWAC

SPY

The defamation trial involving Donald Trump, brought by E. Jean Carroll, is set to resume on Thursday, with no proceedings taking place on Wednesday, according to Reuters citing court records.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:47 pm

ALK

SPR

FAA Administrator Mike Whitaker has indicated that the investigation into the Alaska Airlines blowout is centered on Boeing's quality control processes. While the design of the 737 Max 9's door plug is considered adequate when properly implemented, the focus is now on Boeing's quality assurance and control measures.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:09 pm

BTCUSD

COIN

U.S. Senator Cynthia Lummis defended cryptocurrencies against Senator Elizabeth Warren's claims of their use for money laundering. Lummis highlighted the disparity between fiat and crypto money laundering figures, arguing against crushing the crypto industry based on incorrect data. Her stance is consistent with her history of supporting cryptocurrencies and the SEC's approach to regulation. The ongoing SEC lawsuits against Binance and Coinbase will test the alignment of Lummis's views with judicial outcomes.

Portfolio Pulse from Ivan Crnogatić

January 23, 2024 | 8:00 pm

JNJ

Johnson & Johnson (NYSE:JNJ) has reached a tentative settlement of approximately $700 million with 42 U.S. states and Washington, D.C., over allegations of misleading information about the safety of its talc products. This settlement does not include over 52,000 personal-injury lawsuits still pending. The company has faced setbacks in bankruptcy proceedings aimed at mass settlements, with a rejected $8.9 billion payout plan. JNJ shares dropped 1.43% to $160.15 following the news.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 6:18 pm

GMAB

JNJ

An appeal arbitrator dismissed Genmab A/S's (NASDAQ:GMAB) bid for additional milestone and royalty payments from Janssen Biotech Inc, a unit of Johnson & Johnson (NYSE:JNJ), related to Darzalex (daratumumab). The decision will not affect Genmab's 2024 financial guidance. William Blair maintains a Market Perform rating on Genmab, citing strong growth from diverse revenue sources but limited initial commercial potential for Tivdak and epcoritamab. GMAB shares dropped 3.28% to $27.74.

Portfolio Pulse from Vandana Singh

January 23, 2024 | 6:11 pm

BAH

EADSF

EADSY

PLTR

XOM

Palantir Technologies Inc (NYSE:PLTR) is experiencing a slowdown in revenue growth from U.S. government contracts, leading to a decline in its stock market performance. RBC Capital Markets and Jefferies analysts point to government agencies preferring more cost-effective solutions, while William Blair notes increasing competition in defense contracts. Palantir's CEO Alex Karp is focusing on the company's new AI platform for future growth, despite skepticism from some investors. The company has also faced challenges with data privacy in Europe and a potential breach of contract with the U.K.'s NHS. Palantir's stock has gained over 138% last year but is currently trading lower by 1.65% to $17.31.

Portfolio Pulse from Anusuya Lahiri

January 23, 2024 | 6:04 pm

BNBUSD

Binance (CRYPTO: BNB) is seeking to have a lawsuit by the SEC dismissed, following a $4.3 billion settlement with the DOJ and CFTC over finance violations. The SEC's lawsuit alleges Binance of fraud and rule violations, including trading of unregistered securities. The outcome of the case could significantly impact the regulatory landscape for cryptocurrencies.

Portfolio Pulse from Murtuza Merchant

January 23, 2024 | 5:38 pm

Kelcy Warren, Chairman of Energy Transfer, stated that he does not anticipate the US Army Corps of Engineers to shut down the Dakota Access Oil Pipeline. He also mentioned that the company is not affected by the Corps' draft of a more intensive environmental impact study for the pipeline.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:53 pm

XPER

Rubric Capital Management is pressuring Xperi Inc. to implement cost reductions and consider strategic options for its AI division. Rubric plans to nominate two directors, Thomas Lacey and Deborah Conrad, to Xperi's board.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:49 pm