Streetbeat News

Legal

NAK

The U.S. Supreme Court has declined to review Alaska's petition challenging the EPA's veto of the Pebble Project, a mining initiative by Northern Dynasty Minerals Ltd. The company's CEO expressed disappointment but noted that the decision does not reflect on the state's arguments. Northern Dynasty maintains that the EPA overstepped its authority and is considering further legal action to advance the project, emphasizing its potential benefits for Alaska and the U.S. in terms of jobs, economic growth, and critical mineral supply.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:17 pm

NYT

OpenAI has responded to a lawsuit from The New York Times, stating that the suit lacks merit. The company emphasizes its ongoing efforts to make its systems more resistant to adversarial attacks that could cause the regurgitation of training data. Despite the legal challenge, OpenAI remains optimistic about forming a constructive partnership with The New York Times.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 6:08 pm

RGNX

REGENXBIO's stock price has declined following a U.S. District Court decision against the company in a patent infringement lawsuit concerning its NAV Technology Platform, which was co-developed with the University of Pennsylvania.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:20 pm

EWJ

GOOGL

META

TWTR

The Japanese government is developing regulations that will mandate social media platforms to address user reports of online slander within a week. This includes establishing guidelines for post deletion and disclosing measures taken. Major tech companies like Meta Platforms Inc., Google, and Twitter will be affected by these new rules.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 5:10 pm

BA

DADA

DTC

PACB

SPR

Boeing shares fell 6.6% after an exit door blew out of a 737 aircraft, leading to the FAA grounding 171 jets. Other stocks also moved lower: Dada Nexus dropped 38.1% due to suspicious practices in revenue reporting; Solo Brands decreased 34.7% after cutting revenue guidance; Prothena fell 25.1% after program updates; Pacific Biosciences declined 15.1% with preliminary FY23 revenue announcement; and Spirit AeroSystems dropped 6.5% as it was involved with the faulty door on the Boeing aircraft.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 4:46 pm

SPY

President Joe Biden is not considering the dismissal of Defense Secretary Lloyd Austin, despite Austin's failure to inform the White House about his emergency hospitalization. Senior administration officials have stated that Biden would not accept Austin's resignation if offered and emphasized Biden's loyalty and preference for continuity in his cabinet. The support for Austin remains strong even amid Republican calls for his firing, following his hospitalization at Walter Reed National Military Medical Center due to complications from an undisclosed surgery.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:40 pm

AMAM

CMC

DADA

DTC

HARP

LMDX

U.S. stocks were mixed with the Nasdaq Composite up by around 100 points. The Dow and S&P 500 showed mixed performance. Information technology shares led gains, while energy shares lagged. Commercial Metals Company (CMC) reported better-than-expected Q1 earnings. Harpoon Therapeutics (HARP) surged after a buyout announcement by Merck, and Ambrx Biopharma (AMAM) also jumped on acquisition news by Johnson & Johnson. LumiraDx (LMDX) announced a trading suspension on Nasdaq, Dada Nexus (DADA) reported suspicious practices casting doubt on certain revenues, and Solo Brands (DTC) lowered its full-year 2023 revenue guidance. Commodities saw oil and gold prices fall, and European and Asian markets closed mostly lower.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 3:00 pm

SONY

Sony Group Corp (NYSE:SONY) is considering withdrawing from a merger deal with Zee Entertainment Enterprises Ltd due to disagreements over leadership roles. The initial agreement had Zee's CEO Punit Goenka leading the merged entity, but Sony has changed its stance amid Zee's regulatory issues. Sony plans to file a termination notice before the January 20 deadline, as certain conditions for the merger have not been met. Discussions are ongoing, and a resolution is possible before the deadline. Sony's stock saw a slight increase of 0.25% to $91.45.

Portfolio Pulse from Lekha Gupta

January 08, 2024 | 2:59 pm

JNJ

Johnson & Johnson (JNJ) has agreed to pay $700 million to settle a probe by multiple states into the marketing of its talc-based products. The investigation focused on allegations that the company did not adequately disclose potential cancer risks associated with its talc products. This settlement resolves the legal uncertainties surrounding JNJ's talc marketing practices.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 2:52 pm