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Florida Governor Ron DeSantis predicts that the state Supreme Court will approve a recreational cannabis initiative for the 2024 ballot. Despite his opposition to marijuana reform, DeSantis believes Florida voters should have their say. The initiative, backed by public support and funded by Trulieve Cannabis Corp, would allow medical cannabis companies to sell to adults but not permit home cultivation. Attorney General Ashley Moody is attempting to block the initiative, which has nearly one million signatures.

Portfolio Pulse from Maureen Meehan

January 23, 2024 | 2:12 am

ADM

DWAC

NFLX

TSLA

UAL

Stocks of Digital World Acquisition Corp (DWAC), Netflix (NFLX), United Airlines (UAL), Archer-Daniels-Midland (ADM), and Tesla (TSLA) were in focus. DWAC surged 88.36% after an endorsement of Trump by Florida's Governor. Netflix saw a modest gain ahead of its Q4 earnings report. United Airlines dipped slightly despite positive Q4 results. ADM shares fell 24.20% amid an accounting investigation. Tesla's stock decreased by 1.60% following Jim Cramer's suggestion to remove it from the 'Magnificent Seven' index.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 2:07 am

AAPL

GOOG

GOOGL

MASI

SSNLF

Samsung Electronics Co. is entering the health tech sector with noninvasive glucose and continuous blood pressure monitoring technology, challenging Apple Inc. and other tech giants. Samsung plans to integrate health features into various devices, including the Galaxy Ring. The company is also enhancing its blood pressure features and exploring new sensors for earbuds. Apple, facing an IP dispute with Masimo Corporation, had to remove the blood oxygen feature from its latest Apple Watch models in the U.S. This intensifies the competition between Samsung and Apple, who recently surpassed Samsung in global smartphone shipments.

Portfolio Pulse from Ananya Gairola

January 23, 2024 | 1:47 am

GMAB

JNJ

Genmab A/S (GMAB) announced that its appeal in the second arbitration with Janssen Biotech, Inc. (a subsidiary of Johnson & Johnson, JNJ) over the daratumumab license agreement has been denied. The appeal was regarding claims for milestone payments and a new royalty term for the subcutaneous formulation of daratumumab, marketed as DARZALEX FASPRO in the U.S. The denial concludes the dismissal of Genmab's claims, which will not affect Genmab's 2024 financial guidance.

Portfolio Pulse from Charles Gross

January 23, 2024 | 12:24 am

SPRU

Spruce Power Holding (SPRU) has reached a settlement agreement to pay $19.5 million to resolve a class action litigation. The settlement received preliminary approval from the court and a final approval hearing is scheduled for April 30, 2024. The settlement fund will cover all claims, legal fees, and administrative costs, with no reversion to the company. SPRU's D&O liability insurers will fund $4 million, while SPRU will cover the remaining $15.5 million, which was accrued in Q3 2023 earnings.

Portfolio Pulse from Charles Gross

January 22, 2024 | 10:39 pm

TCRT

Alaunos Therapeutics has appointed Dale Curtis Hogue as its interim CEO, effective January 20, 2024, according to an SEC filing. Hogue will also continue his role on the company's board.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:38 pm

DWAC

SPY

The defamation trial involving Donald Trump, brought by E. Jean Carroll, is set to resume on Wednesday, according to a Reuters report citing a court official. The trial will not take place on Tuesday as previously scheduled.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:36 pm

INTU

The FTC has found Intuit Inc. guilty of deceptive advertising for claiming TurboTax was a 'free' service, despite most tax filers being ineligible for the free version. The Commission's order requires Intuit to cease deceptive ads and accurately disclose eligibility for free products. This decision is seen as a victory for consumers and a warning to other businesses about misleading 'free' claims.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:11 pm

INTU

The Federal Trade Commission (FTC) has issued an opinion finding that Intuit Inc., the maker of TurboTax, engaged in deceptive advertising practices. The FTC's decision is based on Intuit's marketing of its TurboTax product, where it allegedly misled consumers by promoting free tax filing services that were not actually free for all users.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 9:00 pm

ADM

Archer-Daniels-Midland Company (NYSE:ADM) placed its CFO on leave amid an investigation into accounting practices. The company updated its FY23 EPS outlook to above $6.90, below consensus of $7.28, and withdrew its nutrition segment outlook. ADM delayed its earnings release due to the investigation. Baird downgraded ADM from Outperform to Neutral with a price target of $61, citing the current financial figures as too high and noting potential downside risks. ADM shares are down 23.40% at $52.22.

Portfolio Pulse from Vandana Singh

January 22, 2024 | 7:52 pm