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SBGI

Diamond Sports Group has entered into a Restructuring Support Agreement with key creditors to reorganize and emerge from Chapter 11 bankruptcy. The agreement includes over 85% of first lien, over 50% of second lien, and over 66% of unsecured bond holders. Sinclair Inc., Diamond's parent company, will pay $495 million in cash and provide support services as part of a settlement to aid Diamond's reorganization and separation from Sinclair.

Portfolio Pulse from Charles Gross

January 17, 2024 | 11:06 am

MNOV

MediciNova has received a notice of grant for a new patent in China covering the use of MN-166 (ibudilast) for the treatment of macular injury. This development could potentially strengthen MediciNova's intellectual property portfolio and market position in China, a significant market for macular injury treatments.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 11:03 am

GOOGL

Google (NASDAQ:GOOGL) has been tracking user activity in incognito mode, contrary to previous assurances of privacy. A 2020 class-action lawsuit led to a $5 billion settlement in 2023, without Google admitting wrongdoing. Google updated the incognito mode disclaimer to clarify that user activity is still tracked, raising privacy concerns.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 10:58 am

BP

BP PLC (NYSE:BP) has announced the appointment of Murray Auchincloss as its permanent CEO, effective immediately. Auchincloss had been serving as interim CEO since September 2023 and was BP's CFO since July 2020. The company's previous CEO, Bernard Looney, resigned last year. BP is set to report its Q4 results on February 6, 2024. BP shares closed lower by 1.66% at $34.28 on Tuesday.

Portfolio Pulse from Lekha Gupta

January 17, 2024 | 10:05 am

SPY

Ray Dalio, billionaire and hedge-fund veteran, shared his perspective on LinkedIn about the pivotal nature of the year 2024. He highlighted five major interconnected influences: debt-money-markets-economy, internal conflict, external conflict, climate change, and human inventiveness. Dalio sees internal conflict as the biggest risk, potentially leading to pre-civil war conditions. He also discussed the implications of the U.S. elections, technological advancements, and climate change. The SPDR S&P 500 ETF Trust (SPY) was mentioned in relation to market performance.

Portfolio Pulse from Shanthi Rexaline

January 17, 2024 | 8:07 am

META

Meta CEO Mark Zuckerberg has been ordered to participate in a deposition for a Texas court case concerning Meta's alleged misuse of facial recognition technology. The lawsuit, filed by Texas Attorney General Ken Paxton, claims Meta illegally collected biometric data of Texans without consent, violating the state's Deceptive Trade Practices Act. This follows previous controversies and settlements by Meta over biometric data issues.

Portfolio Pulse from Ananya Gairola

January 17, 2024 | 3:15 am

BA

BRK

Boeing Co's (NYSE:BA) recent grounding of 171 of its 737 Max 9 aircraft due to a door incident may negatively affect Precision Castparts, a subsidiary of Warren Buffett's Berkshire Hathaway Inc (NYSE:BRK). Precision Castparts, a key supplier to Boeing, has previously experienced production delays due to issues with Boeing's 737 Max and 787 programs. The ongoing problems with Boeing's aircraft could further strain its operations and relationships with suppliers like Precision Castparts.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 2:47 am

AAPL

Epic Games CEO Tim Sweeney plans to challenge Apple Inc.'s compliance plan following a Supreme Court ruling that requires Apple to allow alternative payment options in its App Store. Apple's new policy allows for alternative payment links but still requires in-app purchases through the App Store, with a commission of 27% for alternative platform purchases, slightly reduced from the previous 30%. Sweeney criticizes the policy as 'anticompetitive,' particularly the requirement for a generic browser session for purchases and the use of a 'scare screen' to deter users from alternative platforms.

Portfolio Pulse from Ananya Gairola

January 17, 2024 | 2:27 am

MSFT

NYT

OpenAI CEO Sam Altman has dismissed the need for substantial training data from publishers like The New York Times Co. (NYT) amidst a copyright infringement lawsuit. Altman stated that OpenAI does not want to train on NYT data and is instead seeking partnerships with publishers to provide current news to users. The lawsuit, which alleges damages in the billions, is one of several legal challenges OpenAI faces, including class-action lawsuits from various writers. Despite this, OpenAI has secured content deals with the Associated Press and Axel Springer SE.

Portfolio Pulse from Ananya Gairola

January 17, 2024 | 1:27 am

JBLU

SAVE

President Joe Biden praised a federal judge's decision to block the merger between Spirit Airlines Inc. (SAVE) and JetBlue Airways Corporation (JBLU), citing the ruling as a victory for consumers seeking lower prices and more options. The $3.8 billion deal was opposed by the Justice Department due to concerns over reduced competition and increased airfares. Following the decision, Spirit's shares plummeted by 47.09%, while JetBlue's shares rose by 4.9%.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 12:52 am