Streetbeat News

Legal

GRFS

Grifols, a global healthcare company, has expressed confusion over the interpretation of its financial information by Gotham City Research. Grifols suggests that Gotham City Research, being a short-term fund, may have the intention of lowering Grifols' share price.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 2:53 pm

GRFS

Grifols has stated that all transactions since 2018 have been properly recorded in the company's books and public accounts, which were presented to both the Spanish regulator and the SEC in the US via the 20-F form. The company emphasizes that there is no new information that could be considered hidden.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 2:53 pm

DIS

SONY

Zee Entertainment Enterprises has reaffirmed its commitment to a $10 billion merger with Sony Group Corp's Indian arm, despite rumors of the deal's potential collapse. The speculation was based on disagreements over Zee CEO's role and a regulatory probe. The merger is crucial as Zee faces financial challenges, including a missed payment to Disney's India unit for cricket TV rights. Sony shares closed up 1.29% at $92.40.

Portfolio Pulse from Shivani Kumaresan

January 09, 2024 | 2:31 pm

AAPL

A Beijing-based research institute claims to have cracked Apple Inc.'s (NASDAQ:AAPL) AirDrop encryption, potentially exposing users' phone numbers and email addresses. The city's judicial bureau has used this method to identify suspects, enhancing case resolution effectiveness. This follows Apple's restriction of the 'Everyone' AirDrop setting in China amid protests and the recent iOS 17 update that allows AirDrop to work over the internet.

Portfolio Pulse from Rounak Jain

January 09, 2024 | 2:25 pm

GRFS

Gotham City Research has released a short report accusing Grifols SA (NASDAQ:GRFS) of manipulating its financial statements to artificially lower its leverage ratio. The report suggests that Grifols' actual leverage could be between 10x-13x, rather than the reported 6x. Grifols has categorically denied the allegations, stating the report contains false information. Following the report, GRFS shares dropped 38.50% in premarket trading.

Portfolio Pulse from Vandana Singh

January 09, 2024 | 2:07 pm

GRFS

Grifols shares have declined after Gotham City Research released a report titled 'Grifols SA: Scranton and the Undisclosed Debts,' suggesting the existence of undisclosed debts.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 1:50 pm

GOOGL

Alphabet Inc's Google is set to defend against a $7 billion patent infringement lawsuit brought by Singular Computing in Boston. The case alleges that Google's Tensor Processing Units, key to its AI technology, infringe on patents held by computer scientist Joseph Bates. The trial, which could result in the largest patent infringement award in U.S. history, is expected to last two to three weeks. This lawsuit is significant as Google has been heavily investing in AI, including a recent investment in AI startup Anthropic and the launch of its powerful AI model, Gemini AI.

Portfolio Pulse from Benzinga Neuro

January 09, 2024 | 1:40 pm

GRFS

JNPR

MCRB

Juniper Networks' stock surged over 20% on reports of a nearing $13B acquisition deal by Hewlett Packard Enterprise. Seres Therapeutics announced preliminary Q4 net sales of $10.4M and total 2023 sales of $19.6M since its June launch. Grifols shares plummeted 42% premarket following a Gotham City Research report alleging manipulation of reported debt and EBITDA, suggesting actual leverage is higher than reported.

Portfolio Pulse from ryanfaloona@benzinga.com

January 09, 2024 | 1:38 pm

ICU

SeaStar Medical has been granted U.S. Patent No. 11,866,730, which encompasses methods for treating inflammatory conditions using its Selective Cytopheretic Device (SCD) cartridges. The patent specifies the use of SCD cartridges to extracorporeally sequester activated leukocytes and/or platelets, modulating their inflammatory activity without adversely affecting the healing process by maintaining appropriate cell counts. The patent details the required ratios of surface area to inner volume of the SCD cartridge for effective treatment.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 1:37 pm

GIL

Glenn J. Chamandy, former President and CEO of Gildan Activewear, criticized the company's board for actions he believes have undermined his record and damaged the company's reputation, leading to a significant loss in shareholder value. He disputes the board's claims and emphasizes the long-range plan presented in October 2023, which showed promising growth prospects for Gildan.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 1:19 pm