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Legal

AREN

Arena Group Holdings Inc was notified by ABG-SI LLC of their intention to immediately terminate a licensing agreement dated June 14, 2019. As a result of the termination, Arena Group is required to pay a fee of $45 million to ABG-SI LLC, as per the SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 6:16 pm

LLY

The FDA has discovered manufacturing issues at an Eli Lilly plant in New Jersey. This could potentially impact the company's production capabilities and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 3:09 pm

AAL

DAL

JBLU

LUV

SAVE

UAL

Spirit Airlines (SAVE) is urging JetBlue (JBLU) to appeal a federal judge's decision that blocked their $3.8 billion merger, which could have created the fifth-largest US carrier. The ruling, favoring antitrust regulators, has led to a significant drop in Spirit's shares. Despite the setback, Spirit's Q4 2023 revenue is expected to be at the high end of guidance, and the company is looking to refinance debt. Shares of SAVE and JBLU have risen on the latest update.

Portfolio Pulse from Vandana Singh

January 19, 2024 | 2:33 pm

GRFS

An investment company named Scranton, which has ties to Grifols, is expected to provide a public explanation following a report from a hedge fund. This anticipation comes from a statement made by a Grifols board member who is also a shareholder in Scranton. Investors are likely awaiting further details to understand the implications of the hedge fund's findings on Grifols and its relationship with Scranton.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:20 pm

GRFS

Spain's stock market supervisor has requested Grifols to clarify certain transactions that the company had previously explained in 2019, according to a board member cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 2:19 pm

CCHWF

HERTF

TCNNF

VRNOF

West Virginia Delegate Evan Hansen introduced House Bill 4873 to legalize recreational cannabis for adults over 21. The bill follows a similar unsuccessful attempt with House Bill 2091 and comes amid suggestions by Senate President Craig Blair to use marijuana legalization as a strategy against the state's fentanyl crisis. The bill proposes a 15% excise tax and a local 6% tax to fund county and municipal needs. Multi-state medical marijuana operators like Trulieve Cannabis Corp., Columbia Care Inc., Heritage Cannabis Holding Corp, and Verano Holdings could benefit if the bill passes.

Portfolio Pulse from Nina Zdinjak

January 19, 2024 | 1:56 pm

AAPL

VGK

The European Commission is seeking feedback on commitments offered by Apple regarding its Apple Pay practices, which have raised antitrust concerns. The Commission's preliminary view is that Apple may have restricted competition by limiting access to NFC technology on its devices for payments in stores, benefiting Apple Pay over other mobile payment services. Apple has proposed commitments to address these concerns, including allowing rival mobile wallets to access the necessary hardware and software on equal terms for five years. The Commission is inviting comments from interested parties before making a final decision.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 1:29 pm

RAIN

Rain Oncology disclosed in an SEC 8K filing that it has received 15 demand letters from purported company stockholders in relation to its proposed deal with Pathos AI. The company denies all allegations made in these demand letters.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 1:08 pm

PFE

Amit Dagar, a former Pfizer Inc (NYSE:PFE) employee, was found guilty of securities fraud for insider trading on Paxlovid trial news. He purchased stock options before the trial results were announced and tipped off a friend. Pfizer had previously cut its earnings and revenue guidance due to reduced demand for COVID-19 products. The FDA has approved Paxlovid under emergency use, and Pfizer is considering raising its price. PFE shares saw a slight decrease in premarket trading.

Portfolio Pulse from Vandana Singh

January 19, 2024 | 12:43 pm

FSR

Fisker has announced full cooperation with the NHTSA concerning braking issues with the 2023 Fisker Ocean. The company asserts that the vehicle's brake system meets or exceeds all US and international performance requirements.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 11:34 am