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Legal

NTRA

Natera, Inc. (NASDAQ:NTRA) was ordered to pay $57M in damages in a patent infringement lawsuit brought by Ravgen, Inc., which is significantly lower than the $410M sought by Ravgen. The jury found no willful infringement by Natera, and the patent in question has expired. Natera plans to appeal the verdict and states the decision will not affect its customer service.

Portfolio Pulse from Charles Gross

January 16, 2024 | 10:20 pm

CVGW

Calavo Growers, Inc. (NASDAQ:CVGW) has announced a delay in releasing its Q4 and FY23 financial results due to an internal investigation into its operations in Mexico. The company will file a Form 12b-25 for an extension to submit its Form 10-K. Preliminary results indicate an 18% decrease in net sales to $972M for the year ended October 31, 2023. The company is working to complete the investigation and financial statements for a timely filing.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:56 pm

BYSI

BeyondSpring Inc. announced that the Arbitral Tribunal at the China International Economic and Trade Arbitration Committee has issued a final award, denying all claims made by Hengrui. The announcement was made on January 10, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:45 pm

SHOT

Safety Shot, Inc. (NASDAQ:SHOT) has filed a lawsuit against Capybara Research and Igor Appelboom for publishing defamatory articles that allegedly caused a 37.03% drop in SHOT's share price. The company accuses Capybara and Appelboom of short selling and benefiting from the resulting decline in stock price. After evasive actions by the defendants, a court order now allows SHOT to serve notice of action through public disclosure and press release.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:28 pm

JBLU

SAVE

The U.S. District Court for the District of Massachusetts has blocked JetBlue Airways' proposed $3.8 billion acquisition of Spirit Airlines, citing antitrust concerns. The court ruled that the merger would harm competition and lead to higher fares and fewer choices for travelers. The decision comes after a 17-day trial and a lawsuit filed by the Justice Department and several states to prevent the merger under the Clayton Act.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:06 pm

BX

INVH

MS

SBLK

Morgan Stanley (NYSE:MS) was fined $249 million for leaking information on block trades, affecting clients like Blackstone (NYSE:BX) and Oaktree Capital Management. The leaks allowed a hedge fund to profit by shorting Invitation Homes (NYSE:INVH) and another investment company to bet against Star Bulk Carriers (NASDAQ:SBLK). Morgan Stanley profited from the trades, but the breach of trust cost Blackstone and Oaktree. Morgan Stanley has since improved controls to prevent future breaches.

Portfolio Pulse from Neil Dennis

January 16, 2024 | 9:06 pm

DD

Bank of America Securities analyst Steve Byrne downgraded DuPont de Nemours Inc (NYSE:DD) from Buy to Underperform, while raising the price target from $78 to $80. The downgrade is attributed to relative valuation, modest earnings recovery in 2024, and under-appreciated PFAS liabilities. The analyst raised the 2024 EPS estimate from $3.76 to $3.85 due to expected improvements in U.S. housing starts and modest gains in Electronics & Industrial. However, concerns over PFAS litigation risks, particularly personal injury litigation, are seen as a potential threat to DD's stock value. DuPont's shares dropped 2.56% to $73.60 following the news.

Portfolio Pulse from Shivani Kumaresan

January 16, 2024 | 8:46 pm

INPX

Inpixon, a technology company, has been granted U.S. Patent #11872397 for a 'Proactive Loss Prevention System'. This patent covers a system designed to prevent loss of items through proactive measures, potentially enhancing Inpixon's intellectual property portfolio and offering new opportunities for product development and market differentiation.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 8:17 pm

TRX-USD

USDT-USD

A UN report highlights Tether's (USDT) role in a 'parallel banking system' used by organized crime, particularly in illegal gambling and 'pig butchering' romance scams in Southeast Asia. The report emphasizes the use of USDT on the Tron blockchain (TRX) for money laundering and other illicit activities. It calls for action from governments and financial institutions to align with human rights standards to prevent the conversion of illegal crypto to fiat currency.

Portfolio Pulse from Murtuza Merchant

January 16, 2024 | 8:01 pm

ALK

DAL

HA

UAL

Airlines stocks are down due to recent flight cancellations from severe weather and Boeing 737 Max 9 groundings. Additionally, a US judge blocked the Spirit-JetBlue merger, adding pressure to the sector.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 8:00 pm