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Legal

GL

Globe Life Inc. (GL) has issued a statement refuting allegations made by Fuzzy Panda Research, calling them false, misleading, and defamatory. The company emphasizes its long-standing business model, sustainable earnings growth, and commitment to ethics and integrity. Globe Life, with over 17 million policies in force, criticized the report for mixing unsubstantiated claims with recycled allegations and intends to explore legal recourse against the responsible parties.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 9:27 pm

DIS

VIVHY

Vivendi SE's Gameloft has announced that starting from Season 7 in April 2024, Disney Speedstorm's premium battle pass will only be available through real-money purchases, eliminating the option to use in-game tokens. This decision has led to significant backlash from the gaming community, who feel misled by previous assurances that tokens could be used for such purchases.

Portfolio Pulse from Franca Quarneti

April 11, 2024 | 9:14 pm

FUV

KNDI

NIO

TSLA

Ohio Senator Sherrod Brown has called on President Biden to implement a permanent ban on electric vehicles (EVs) produced by Chinese companies, according to a letter cited by Reuters. This move could significantly impact the competitive landscape for EVs in the U.S., potentially affecting companies involved in the EV sector, including those with ties to China as well as U.S.-based EV manufacturers.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 8:23 pm

ETHUSD

JPMorgan predicts only a 50% chance of Spot Ethereum ETFs receiving SEC approval in May, citing an ongoing SEC investigation into firms linked with the Ethereum Foundation as a potential obstacle. The bank anticipates possible litigation against the SEC if approvals are not granted, drawing parallels with previous cases involving Grayscale and Ripple. The outcome of this situation could significantly impact the regulatory landscape for cryptocurrency ETFs.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 8:02 pm

DIS

Walt Disney Co (NYSE:DIS) is facing a lawsuit from actress Gina Carano, who was fired from the Star Wars series 'The Mandalorian' due to controversial social media posts. Disney filed a motion to dismiss the lawsuit, citing the First Amendment right to dissociate from Carano's speech. The lawsuit, supported by Elon Musk, accuses Disney of sexual discrimination and retaliation against political activity. The outcome of Disney's motion to dismiss could lead to a high-profile trial.

Portfolio Pulse from Chris Katje

April 11, 2024 | 6:50 pm

GLD

NKE

NVDA

PARA

TLT

VRTX

Stocks rebounded with the Nasdaq 100 leading gains, up 1.2%, driven by Nvidia's 3.1% surge. The Producer Price Index (PPI) inflation was slightly lower than expected, affecting Fed rate cut expectations. Treasury yields were mixed, impacting the iShares 20+ Year Treasury Bond ETF (TLT), which fell 0.2%. Gold, tracked by the SPDR Gold Trust (GLD), rose nearly 1%, while Bitcoin softened. Notable stock movements included Nike's 3.8% rise after an upgrade, Paramount Global's 6.5% rally, and significant drops for Globe Life, CarMax, and Nikola Corp. Vertex Pharmaceuticals announced a $4.9 billion deal to buy Alpine Immune Sciences.

Portfolio Pulse from Piero Cingari

April 11, 2024 | 6:13 pm

REGN

The U.S. Justice Department has accused Regeneron Pharmaceuticals of manipulating Medicare's drug-pricing system for its eye drug Eylea, alleging inflated average sales prices and undisclosed payments to distributors. This manipulation has significantly impacted Medicare expenses, with Eylea sales reaching $5.9 billion in 2023 and Medicare payments for the drug totaling over $25 billion from 2012 to 2023. The lawsuit, filed in Boston, claims violations of the False Claims Act due to not reporting all price concessions for Eylea.

Portfolio Pulse from Vandana Singh

April 11, 2024 | 6:09 pm

BPAY

HPQ

IPAY

WEX

WEX Inc. has filed a lawsuit against HP Inc. and Hewlett-Packard Development Company, L.P. for trademark infringement over the use of 'HP Wex', claiming it confuses the market due to similarities in software and solutions offered by both companies. WEX, which has used the name since 1989 and rebranded in 2012, seeks a preliminary injunction to stop HP's alleged infringement. The dispute impacts investors through exposure in ETFs like BlackRock Future Financial And Technology ETF (BPAY) and Amplify Mobile Payments ETF (IPAY).

Portfolio Pulse from Lekha Gupta

April 11, 2024 | 4:56 pm

UNH

UnitedHealth Group Inc (NYSE:UNH) faces scrutiny over executives' stock sales totaling $101.5 million ahead of a public antitrust investigation reveal. The sales occurred after the company was allegedly notified of the DOJ probe but before it became public knowledge. Additionally, a cyberattack on UnitedHealth's Change Healthcare subsidiary has raised concerns. Despite the investigation, the trades were reportedly approved, raising questions about the approval process and potential blackout periods. The DOJ is investigating UnitedHealth's acquisitions for potential antitrust violations. UnitedHealth's stock dropped 5.2% following the investigation reports.

Portfolio Pulse from Vandana Singh

April 11, 2024 | 4:08 pm