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Legal

MMM

3M's settlement agreement with U.S. public water suppliers, involving a $10.3 billion payment over 13 years, received final approval from the U.S. District Court in Charleston, South Carolina. Payments are set to begin in Q3 2024, assuming no appeals. 3M is also pursuing insurance recovery related to this matter.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:51 am

LQDA

UTHR

Judge Andrews has set aside the injunction issued in August 2022 against Liquidia, allowing the FDA to proceed with the final approval of Liquidia's new drug application for Yutrepia (Treprostinil) Inhalation Powder. The injunction was initially in place due to a lawsuit filed by United Therapeutics.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:09 am

DIS

Elon Musk announced on social media that he has been appointed as the Chief Diversity, Equity, and Inclusion (DEI) Officer at Disney, expressing enthusiasm to work with Disney's executives to make the content 'MORE woke.' However, the announcement was made on April 1, known for April Fools' Day pranks, and Disney has not made an official statement. This follows a series of public disputes between Musk and Disney, including accusations of 'institutional racism and sexism' by Musk.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 9:20 am

AMZN

Amazon.com Inc. (NASDAQ:AMZN) has spent over $3 million in 2023 on consultants to discourage unionization among its delivery network employees. This spending is part of Amazon's broader efforts to resist unionization, despite facing legal challenges, including a ruling by a National Labor Relations Board judge that found the company guilty of violating federal labor laws. Amazon's spending on anti-union activities has decreased compared to the previous two years.

Portfolio Pulse from Rounak Jain

April 01, 2024 | 8:26 am

MA

NVDA

V

Hannah Gooch-Peters, an analyst at Sanlam Investments, highlighted Visa Inc's (V) sustainable profit margins compared to Nvidia Corporation (NVDA), questioning Nvidia's future sales and profit sustainability due to its reliance on hardware. Visa, with a 60% operating profit margin and a strong networking effect, is seen as a more sustainable investment. Additionally, Visa and Mastercard Inc. (MA) recently settled a $30 billion lawsuit with U.S. merchants, agreeing to reduce interchange fees, which could impact the credit card industry.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 4:01 am

T

AT&T Inc. (NYSE:T) has confirmed a significant data breach affecting 65.4 million customers, compromising passcodes, names, and other personal information. The breach, which occurred over two years ago, did not involve personal financial information or call history. AT&T has taken steps to reset passcodes for 7.6 million current customers and is offering identity theft and credit monitoring services to affected customers.

Portfolio Pulse from Ananya Gairola

April 01, 2024 | 2:48 am

TSLA

Elon Musk, CEO of Tesla Inc. and SpaceX, advised a negotiated settlement to end the conflict in Ukraine, warning that Ukraine risks losing Odesa and access to the Black Sea if the war continues. Musk's comments on an X thread, where he criticized Ukraine's military strategy and predicted further territorial losses to Russia, have sparked controversy and accusations of pro-Kremlin sympathies, despite his companies' efforts to support Ukraine.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 1:39 am

META

Meta Platforms Inc. (NASDAQ:META) has been denied a request to delay the FTC's re-evaluation of its Facebook division's alleged privacy violations. The U.S. Court of Appeals for the D.C. Circuit ruled against Meta, stating the company did not meet the requirements for an injunction. This decision is part of a series of setbacks for Meta, following a 2020 privacy settlement which the FTC is seeking to amend. The amendments include a ban on exploiting minors' data and expanded restrictions on facial recognition technology.

Portfolio Pulse from Ananya Gairola

April 01, 2024 | 1:30 am

MIMO

Airspan Networks Holdings Inc. (MIMO) announced a Restructuring Support Agreement with Fortress Investment Group and other stakeholders, providing up to $95M in equity financing and eliminating all debt. The company filed for Chapter 11 to expedite restructuring, aiming to become private under Fortress majority ownership. Airspan received over $53M in DIP financing to support operations during restructuring, with court approval pending. Existing stockholders may exchange shares for cash or warrants.

Portfolio Pulse from Charles Gross

March 31, 2024 | 6:34 pm

AAPL

AMZN

GOOGL

Apple Inc. (NASDAQ:AAPL) had a notable week with events including a rare iPhone auction fetching $130K, CEO Tim Cook's strategic visit to China, rumors of new iPhone 16 Pro colors, and a lawsuit against a former employee for leaks. Additionally, Jim Cramer criticized antitrust lawsuits against Big Tech, including Apple, Alphabet Inc. (NASDAQ:GOOGL), and Amazon.com Inc. (NASDAQ:AMZN).

Portfolio Pulse from Benzinga Neuro

March 31, 2024 | 1:19 pm