Streetbeat News

Legal

LYV

The Department of Justice (DOJ) is reportedly preparing to file a lawsuit against Live Nation Entertainment (NYSE:LYV), the parent company of Ticketmaster, over antitrust concerns. This follows increased scrutiny after Ticketmaster's website crashed during a presale for Taylor Swift's 'The Eras Tour', highlighting issues with ticket availability and high fees. Live Nation, which merged with Ticketmaster in 2010, is accused of having a dominant position in the ticketing market, with an 80% market share in primary ticket sales for the largest U.S. venues. The DOJ's investigation may have found violations of a revised settlement from the 2010 merger, which was extended through 2025.

Portfolio Pulse from Chris Katje

April 16, 2024 | 5:07 pm

UBER

Uber Technologies Inc. was involved in a tax probe in Portugal, focusing on the company's delivery partners. Authorities conducted a raid as part of the investigation into potential tax violations.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:30 pm

MSOS

YOLO

Emily Paxhia, Founding Partner & Managing Partner at Poseidon Investment Management, discussed the challenges of M&A deals in California at Benzinga's Cannabis Capital Conference. Access to the conference is available for existing subscribers and new users can gain instant access.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:08 pm

KA

Kineta, Inc. has been granted a U.S. patent titled 'Proteasome activity enhancing compounds (including methods for treating cancer or tumors)'. This patent could potentially bolster Kineta's position in the oncology market by providing new avenues for cancer treatment.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:35 pm

MSOS

SPY

At Benzinga's Cannabis Capital Conference, former Congressman and Holland & Knight partner, Hon. Ed Perlmutter, mentioned that the DEA is expected to assist with tax issue 280E, with a decision anticipated this week or soon.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:33 pm

ALK

HA

U.S. consumers have filed a lawsuit to halt the proposed merger between Alaska Air Group Inc and Hawaiian Airlines, arguing that the consolidation could reduce competition and negatively impact consumer choices and prices.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:21 pm

MSOS

Hon. Ed Perlmutter discussed the challenges of progressing cannabis banking reforms through the Senate Banking Committee, highlighting the political and campaigning aspects involved.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:05 pm

MSOS

Lauren Niehaus discusses the current state of cannabis legalization, emphasizing the importance of a consistent message among organizations lobbying on the issue. The commentary suggests that legalization is not imminent, but the alignment among lobbying groups could play a crucial role in future developments.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:04 pm

CRLBF

MSOS

John Sullivan emphasized the importance of passing full-cannabis legalization as a significant legislative move. Sen. Schumer plans to submit the Cannabis Administration and Opportunity Act (CAOA) again this year, highlighting cannabis's societal benefits. Despite the President's reluctance towards cannabis, he has directed the HHS, FDA, and DEA to review cannabis-related policies, indicating momentum towards legalization.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 3:03 pm

MSOS

SPY

Senator Cory Gardner emphasized the importance of engagement and support in Congress for advancing cannabis legislation. He highlighted the need to demonstrate sufficient votes based on merit and to strategically navigate the legislative process.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 2:59 pm