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Legal

LUCY

Innovative Eyewear has entered into a license agreement and reached a settlement regarding several IngenioSpec smart eyewear patents. This agreement resolves previous disputes and grants Innovative Eyewear access to important smart eyewear technology.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 3:06 pm

VRNOF

A Montgomery County Circuit Court Judge in Alabama has issued a restraining order preventing the Alabama Medical Cannabis Commission (AMCC) from issuing medical marijuana facility licenses. The decision follows a complaint by several plaintiff companies alleging that the AMCC violated Alabama law with a faulty voting process. The judge believes the plaintiffs will likely prove the AMCC's wrongdoing. Previously, the AMCC awarded 20 medical cannabis licenses and five integrated facility licenses. The legal battle over the licensing process has been ongoing, with previous attempts to issue licenses in June and August failing due to legal challenges involving companies like Medella LLC and Verano Holdings Corp.

Portfolio Pulse from Jelena Martinovic

January 05, 2024 | 3:01 pm

NOK

Nokia Corporation (NYSE:NOK) has signed a 5G patent cross-license agreement with Chinese smartphone maker Honor. This is Nokia's fourth major smartphone agreement in the past year, although terms were not disclosed. Nokia continues legal disputes with other Chinese firms like Oppo and Vivo over 4G and 5G patents. Licensing revenue from patents was 39% of Nokia's operating profit in 2022. The company has stated it will not meet its 2023 sales outlook, with licensing discussions extending into 2024. Nokia's Q4 and full-year 2023 financial results will be announced on January 25, 2024. NOK shares saw a slight increase of 0.29% to $3.46.

Portfolio Pulse from Nabaparna Bhattacharya

January 05, 2024 | 3:01 pm

AAPL

AMT

COST

MSFT

SPCE

TSLA

Cryptocurrencies Bitcoin, Dogecoin, and Ethereum are experiencing a rebound amid renewed hopes for a spot ETF, with predictions of Bitcoin potentially reaching $57K. Apple Card has increased its Annual Percentage Yield from 4.25% to 4.35%. In US markets, investor sentiment is down ahead of the jobs report, with the Nasdaq falling for the fifth consecutive day. US politics are focused on Trump's influence and legal challenges. World politics highlight North Korea's military actions and Russia's procurement of missiles. The world economy sees a record-breaking tuna sale in Tokyo. In tech, Apple Card raises its yield, Microsoft phases out WordPad, and Apple suppliers invest to reduce Chinese dependence. Tesla faces recalls and strikes, while Costco sees a sales jump. American Tower sells Indian assets for $2.5B, and SpaceX sues the US Labor Board over layoffs.

Portfolio Pulse from Akanksha Bakshi

January 05, 2024 | 2:05 pm

AAPL

DIS

MSFT

NYT

Apple Inc (AAPL) and Walt Disney Co (DIS) are set to face shareholder votes on their use of AI after the SEC denied their requests to exclude AI-related proposals from annual meetings. The proposals, filed by the AFL-CIO, seek reports on AI use and ethical guidelines. Concerns include AI's potential to replace workers and the use of their work without fair compensation. The AFL-CIO has filed similar measures at other tech companies and emphasizes transparency and compensation for creators. The SEC's decision aligns Apple and Disney with companies like Microsoft Corp (MSFT), which already disclose AI practices.

Portfolio Pulse from Anusuya Lahiri

January 05, 2024 | 1:57 pm

MPW

Medical Properties Trust Inc (NYSE:MPW) stock plummeted approximately 15% after revealing plans to reduce exposure to Steward Health Care System, which has delayed rent payments. Steward owes about $50 million in unpaid rent, excluding $50 million deferred for Norwood Hospital. MPW is providing a $60 million bridge loan to Steward, secured by collateral and second liens on Steward's managed care business. MPW also agreed to defer unpaid rent and expects partial rent payments to resume in Q1 and Q2 2024. However, MPW anticipates a non-cash charge in Q4 2023 due to uncollectible rent receivables, which may total around $350 million. MPW's stock price dropped 20.8% to $3.96 in premarket trading.

Portfolio Pulse from Lekha Gupta

January 05, 2024 | 1:39 pm

CDP

COPT Defense Properties (NYSE:CDP) announced Robert L. Denton, Sr. as the new Chairman of the Board, effective January 1, 2024. Thomas F. Brady resigned as Chairman but will remain on the Board. Denton has been an Independent Trustee since 1999 and has extensive experience in real estate and finance. Brady has served as Chairman since May 2013 and has been on the Board since 2002. The leadership change is part of the company's ongoing evolution as a specialized REIT serving the U.S. Government and defense contractors.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 1:23 pm

DHLGY

FDX

UPS

India's Competition Commission (CCI) is investigating Deutsche Post (DHL) (OTC:DHLGY), United Parcel Service Inc (NYSE:UPS), and FedEx Corp (NYSE:FDX) for alleged collusion on discounts and tariffs. The probe, which began in October 2022, was triggered by complaints from the Federation of Indian Publishers. If found guilty, the companies could face significant fines based on their profits or revenue. UPS shares closed 0.35% lower at $156.99 on Thursday.

Portfolio Pulse from Shivani Kumaresan

January 05, 2024 | 12:35 pm

FDX

INDA

SPY

UPS

India's competition watchdog is investigating DHL, FedEx, and UPS for alleged antitrust practices and price collusion. The inquiry, which began in October, focuses on potential violations of Indian antitrust laws.

Portfolio Pulse from Charles Gross

January 05, 2024 | 10:09 am

TSLA

Tesla Inc (NASDAQ:TSLA) is recalling over 1.6 million vehicles in China due to concerns about the misuse of its autosteer feature. The company will address the issue with a software update that reminds drivers to follow driving regulations. This follows a similar recall in the U.S. last month, which affected over 2 million vehicles.

Portfolio Pulse from Anan Ashraf

January 05, 2024 | 9:56 am