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Legal

AAPL

MASI

A late-night email to Apple CEO Tim Cook in 2013 from scientist Marcelo Lamego, formerly of Cercacor Laboratories, a Masimo sister company, may have sparked a legal battle between Apple and Masimo Corporation. The dispute involves allegations of patent infringement and talent poaching related to blood-oxygen monitoring technology in the Apple Watch. Masimo claims Lamego brought over proprietary technology to Apple, which Apple denies. The legal issues led to a temporary ban on Apple Watch sales in the U.S., which was halted by an appellate court. Masimo is seeking a settlement, while Apple maintains its innocence and emphasizes its internal development.

Portfolio Pulse from Ramakrishnan M

December 28, 2023 | 5:57 am

META

MSFT

Yann LeCun, Meta Platforms Inc.'s chief AI scientist, criticized OpenAI, calling it a 'contract research house' for Microsoft Corp. He pointed out OpenAI's shift from its original non-profit model to a for-profit subsidiary after Microsoft's investment. LeCun also criticized OpenAI's closed source approach and expressed skepticism about OpenAI being the first to develop AGI, despite the integration of OpenAI's technologies into Microsoft's services.

Portfolio Pulse from Rounak Jain

December 28, 2023 | 2:41 am

GTBIF

TCNNF

TRSSF

TSLA

Ross Gerber, Tesla investor and CEO of Gerber Kawasaki Wealth and Investment Management, is advocating for the DEA to reschedule cannabis, highlighting the absurdity of the delay. He remains bullish on cannabis stocks, citing strong sales and cash flow for companies like Green Thumb, TerrAscend, and Trulieve. A recent report supports his view, showing significant EBITDA upside for Green Thumb and a market cap increase for Trulieve. The potential repeal of IRS tax code 280E could further benefit these companies by reducing their effective tax rates.

Portfolio Pulse from Maureen Meehan

December 28, 2023 | 2:23 am

META

MSTR

NYT

RIOT

TSLA

The stock market saw gains with the Dow Jones, NASDAQ, and S&P 500 all rising. Riot Platforms Inc (RIOT) and MicroStrategy Incorporated (MSTR) experienced significant increases, attributed to Bitcoin's recent price movements and MicroStrategy's Bitcoin holdings. Meta Platforms Inc (META) closed higher with bullish analyst predictions on AI and the Metaverse. The New York Times Company (NYT) also rose amidst a legal battle with OpenAI and Microsoft. Tesla, Inc (TSLA) increased with positive expectations for Q4 delivery results.

Portfolio Pulse from Benzinga Neuro

December 28, 2023 | 1:53 am

CLRO

ClearOne has entered into a non-exclusive cross-license agreement with Sennheiser Electronic GmbH, according to a recent filing. Sennheiser will pay ClearOne a one-time fee of $4 million by March 20, 2024, for the intellectual property licenses granted under the agreement.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 10:21 pm

LOPE

The FTC has filed a lawsuit against Grand Canyon University, its marketer, and its CEO for deceptive advertising regarding the cost and course requirements of its doctoral programs, as well as its nonprofit status. The lawsuit also alleges that the university engaged in illegal telemarketing practices.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:19 pm

ACNT

NPSCY

Former Louisiana AG Charles C. Foti, Jr. is investigating the sale of United States Steel Corporation (NYSE:X) to Nippon Steel Corporation (OTC:NPSCY) for $55 per share, questioning if the deal undervalues U.S. Steel. Meanwhile, Ascent Industries Company (NASDAQ:ACNT) has sold its Specialty Pipe & Tube business for $55 million in cash, aiming to reduce debt and focus on growth opportunities.

Portfolio Pulse from Austin DeNoce

December 27, 2023 | 9:14 pm

FRTX

Fresh Tracks Therapeutics has announced a new special meeting of stockholders to be held on February 15, 2024, to seek approval for the company's liquidation.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:07 pm

CURLF

Boris Jordan, founder of Curaleaf Holdings Inc (OTCQX:CURLF), predicts a major turnaround for the cannabis sector in 2024 after a challenging 2023. Growth catalysts include New York's move to adult use, Germany's shift to medical cannabis, and a potential Florida transition. Rescheduling cannabis in the U.S. could reduce tax burdens and unlock financial resources. Curaleaf's TSX uplift and expected custodianship by major banks aim to overcome investment barriers. Federal action on rescheduling by April next year is anticipated.

Portfolio Pulse from Patricio Liddle

December 27, 2023 | 9:05 pm

Daihatsu Motor, a unit of Toyota Motor, may incur losses exceeding 100 billion yen ($700 million) due to a safety test scandal. The issue has led to a halt of all production in Japan, with no set date for resumption, though most shipments in Indonesia and Malaysia have continued.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 8:33 pm