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PEV

Phoenix Motor Inc. has settled obligations with vendors IAT Automobile Design LLC and Ultimate Automotive Engineering Inc. by entering into agreements to issue shares of common stock in lieu of cash payments. The agreements resolve disputes over performance and payments for electric vehicle design and maintenance services. Phoenix will issue shares valued at $1.24 each to IAT and UAE to settle outstanding payments of $952,606 and $738,406, respectively.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:30 pm

SINT

SINTX Technologies, Inc. (NASDAQ:SINT) has been granted six new U.S. patents related to the antipathogenic properties of silicon nitride. These patents cover a range of applications including antifungal composites, antibacterial biomedical implants, methods for inactivating viruses, and antipathogenic face masks. The company has also received three foreign patents in 2023 and has forty-three patent applications pending globally. SINTX's VP of R&D, Dr. Ryan Bock, emphasized the company's commitment to protecting its intellectual property and the potential for commercializing these technologies in various fields.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 2:23 pm

COWZ

MCD

MRK

On CNBC's 'Halftime Report Final Trades,' Joseph Terranova recommended Merck & Co., despite the FDA's CRL on gefapixant for RCC and UCC. Stephanie Link expects McDonald's revenues to rise, citing legal action by GAR against BDS Malaysia and a Buy rating from HSBC with a $317 target. Bryn Talkington highlighted Pacer US Cash Cows 100 ETF's high free cash flow yield as a strong trade for 2024. Merck's stock rose 1.4%, McDonald's fell 0.9%, and COWZ dropped 0.5% on Wednesday.

Portfolio Pulse from Avi Kapoor

January 04, 2024 | 2:11 pm

JAGX

Jaguar Health has been granted a patent for methods to treat congenital diarrheal disorders (CDD) using crofelemer, an inhibitor of chloride-ion transport. The company is backing studies for crofelemer's use in rare diseases like microvillus inclusion disease and short bowel syndrome (SBS), with results anticipated in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 04, 2024 | 1:39 pm

BABA

JD

PDD

TCEHY

Alibaba Group Holding Ltd (NYSE:BABA) has faced a challenging year with setbacks including a $2.8 billion fine for monopolistic behavior, a drop in U.S. market value below competitor PDD Holdings Inc (NASDAQ: PDD), and a significant share price decline. Alibaba withdrew plans for a public listing of its cloud unit and faces stiff competition from Huawei and Tencent Holding Ltd (OTC:TCEHY). Despite challenges, optimism remains for Alibaba's future. JD.com Inc (NASDAQ:JD) and Alibaba's Taobao implemented a 'refund only' policy, mirroring Pinduoduo's strategy, which has led to concerns among sellers about potential abuse.

Portfolio Pulse from Anusuya Lahiri

January 04, 2024 | 1:08 pm

TSLA

Driving schools in Norway are banning new Tesla vehicles, particularly the Model 3, as instruction cars due to concerns over the unconventional steering wheel design. The design, which replaces the traditional indicator lever with buttons on the steering wheel, has been criticized for causing loss of focus and direction, particularly in roundabouts. This has raised safety concerns among driving instructors and the National Roads Administration, potentially affecting Tesla's reputation and complicating driving tests for students using these vehicles.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 11:06 am

BABA

PDD

Alibaba Group Holding Ltd (NYSE:BABA) faces a challenging future as its shares have dropped 75% from their 2020 high, now trading below $77. The company was fined $2.8 billion for monopolistic practices in 2021 and has recently canceled the IPO of its cloud computing unit. This has led to a decrease in U.S. market value, falling below that of competitor PDD Holdings Inc (NASDAQ:PDD). Alibaba's cloud business is also losing market share to Huawei Technologies Co., and the company faces a tough IPO market for its logistics and grocery store chains.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 8:27 am

TSLA

The National Labor Relations Board (NLRB) has accused SpaceX of wrongfully firing eight employees who criticized Elon Musk's tweets, calling him a 'distraction and embarrassment.' The employees' letter claimed Musk's behavior contradicted SpaceX's diversity and workplace conduct policies. The NLRB alleges SpaceX interrogated and threatened employees over the letter. A hearing is set for March 5, unless SpaceX settles. If guilty, SpaceX could face penalties and be required to reinstate the employees with back pay. This adds to Musk's labor-related controversies, including Tesla's recent changes to equity awards and a legal dispute with a former employee.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 4:33 am

AAPL

SPOT

Apple Inc (AAPL) has reached a settlement in a lawsuit over a scam involving its iTunes and App Store gift cards, where scammers convinced victims to pay for various obligations with gift cards. Apple allegedly kept a 30% commission from the stolen funds. The settlement covers U.S. residents who purchased gift cards from 2015 to July 31, 2020, and were scammed without receiving refunds. This follows other legal issues for Apple, including a $500 million 'Batterygate' settlement and a $25 million Family Sharing lawsuit settlement. Spotify Technology (SPOT) was also mentioned in relation to an antitrust fine faced by Apple.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 4:16 am

SPY

Rep. Marjorie Taylor Greene refuted a report by Unusual Whales that listed her as one of the top-earning Congress members from stock trades in 2023. She clarified that she doesn't own any stocks and the gains were from her son's account. Unusual Whales, a retail stock trading platform, reported Greene's 18.6% returns, while SPDR S&P 500 ETF Trust (SPY) had 24.8% returns. The report raises concerns about Congress members' stock trading and the push for the 'Ban Congressional Stock Trading Act.'

Portfolio Pulse from Navdeep Yadav

January 04, 2024 | 3:19 am