Streetbeat News

Legal

JBLU

SAVE

Spirit Airlines' stock (SAVE) is trading higher, potentially as a result of the company's decision, along with JetBlue, to appeal a judge's ruling that blocked their proposed merger.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:48 pm

GILD

Gilead Sciences Inc. has announced its intention to collaborate with the FDA regarding a product labeling request. The company has stated that there is no evidence to date that suggests a causal relationship between its treatments Yescarta or Tecartus and the development of T-cell origin malignancies.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 4:28 pm

DWS, a subsidiary of Deutsche Bank, was raided by 50 investigators in Frankfurt over greenwashing allegations. This is the second raid related to claims of falsely advertising funds as more sustainable than they are. The investigation, triggered by former sustainability head Desiree Fixler, has led to a $19 million SEC fine in the USA. DWS is cooperating with authorities and negotiating a separate fine for administrative offenses with the public prosecutor's office.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 3:57 pm

JNJ

Johnson & Johnson (JNJ) has reached a tentative agreement to pay approximately $700 million to settle an investigation by over 40 states into the marketing of its talcum-based baby powder. The settlement is seen as an 'important step' by JNJ's CFO Joseph Wolk to resolve the matter.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 3:54 pm

AAWH

GTBIF

TSNDF

VRNOF

The DOJ intends to seek dismissal of a lawsuit filed against U.S. Attorney General Merrick Garland by Massachusetts cannabis industry players, challenging federal marijuana prohibition. The lawsuit claims prohibition harms businesses by denying them financial services and tax benefits, and poses public safety risks. Plaintiffs include Gyasi Sellers of Treevit, Canna Provisions, Wiseacre Farm, and publicly traded companies Verano Holdings, Ascend Wellness Holdings, Green Thumb Industries, and TerrAscend. The DOJ is also requesting to submit an extended legal memorandum to address constitutional issues. This comes as the DEA considers rescheduling cannabis following a recommendation from the HHS.

Portfolio Pulse from Nina Zdinjak

January 23, 2024 | 3:16 pm

General Electric CEO Larry Culp commented on Boeing's commitment to work with the FAA and NTSB in the investigation of the 737 Max 9 incident. He noted that it is still too early in the investigation to understand the full scope of the issue.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 2:46 pm

AAPL

AMD

BAC

BTCUSD

BYDDY

NFLX

TCEHY

TTE

Bitcoin has plummeted below $39K, erasing gains since the US spot ETF launch. Shiba Inu's burn rate spikes, and analysts comment on crypto volatility. US stocks brace for earnings reports, with defensive stocks highlighted. JPMorgan is bearish on the S&P 500. US politics feature Trump's comments and potential UAW Biden endorsement. Russia-West tensions rise, and China's economy stumbles but still attracts investors. Apple faces criticism and rolls out updates, while AMD's future is uncertain. Tencent sees workforce cuts but shares surge. BYD challenges Tesla with new electric vehicles. Netflix's studio head departs, and Bank of America lays off bankers in Asia. TotalEnergies expands in offshore energy.

Portfolio Pulse from Akanksha Bakshi

January 23, 2024 | 2:15 pm

FUN

SIX

Cedar Fair, L.P. (FUN) and Six Flags Entertainment Corporation (SIX) received a Second Request from the DOJ for additional information regarding their proposed merger. This request extends the waiting period under the HSR Act until 30 days after compliance, with a target date of May 2, 2024, for substantial compliance. The completion of the merger is subject to regulatory approvals and Six Flags' stockholders' approval, with an expected completion in the first half of 2024.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:55 pm

LQDA

UTHR

United Therapeutics filed a stipulation to dismiss all claims in the new Hatch-Waxman litigation related to the '793 patent, as reported by Liquidia on January 22.

Portfolio Pulse from Charles Gross

January 23, 2024 | 12:35 pm

GRFS

Grifols has responded to the Gotham City report by submitting information to the Spanish market supervisor CNMV. The CNMV has indicated that it may request additional information from Grifols.

Portfolio Pulse from Charles Gross

January 23, 2024 | 11:18 am