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Legal

SGML.V

Sigma Lithium's (SGML.V) COO Brian Talbot has resigned, marking the latest leadership change at the company. This comes amid a legal dispute between the company's former co-CEOs, Ana Cabral-Gardner and Calvyn Gardner, over mineral rights where Sigma plans to build mining pits. Despite the ongoing legal battle, Sigma maintains that its expansion plans and efforts to find a buyer for the company are unaffected.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 3:36 pm

MANU

Scottish football club Haddington Town AFC has noticed similarities between its logo and the new logo of SpaceX, owned by Elon Musk. The club has joked about the situation on Twitter and expressed a wish for Musk to buy the team, rather than pursuing legal action. This comes after rumors of Musk's interest in buying Manchester United (NYSE:MANU) were debunked.

Portfolio Pulse from Chris Katje

October 05, 2023 | 3:18 pm

AMZN

GOOG

MSFT

The Federal Trade Commission (FTC) and UK's media regulator, Ofcom, are investigating Amazon and Microsoft for alleged anti-competitive practices. The FTC accuses Amazon of using its online retail dominance to suppress competition, while Ofcom is concerned about Amazon and Microsoft's dominance in the UK cloud market. Ofcom estimates that Amazon, Microsoft, and Google generate roughly 81% of revenues in the UK's cloud infrastructure services market, worth $18.2 billion. The investigations aim to ensure fair competition in these markets.

Portfolio Pulse from Upwallstreet

October 05, 2023 | 2:57 pm

BRCC

RUM

The Bear Cave has issued a short report on Rumble (NASDAQ:RUM), a conservative video platform, highlighting several issues including a shrinking user base, increasing losses, difficulty expanding into mainstream content, legal issues for its major stars, competition from Twitter, and an exodus of advertisers. The report also mentions Black Rifle Coffee (NYSE:BRCC), a Rumble advertiser, which has faced controversy and allegations of improper stock grants.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 2:32 pm

FTTUSD

U.S. prosecutors are targeting two luxury aircraft associated with former FTX (CRYPTO: FTT) CEO and founder Sam Bankman-Fried for potential seizure. The Department of Justice's forfeiture bill identifies a Bombardier Global 5000 BD-700-1A11 aircraft and an Embraer Legacy EMB-135BJ aircraft as potential assets for seizure. The potential forfeiture is in line with various U.S. codes pertaining to property subject to confiscation as a result of offenses.

Portfolio Pulse from Murtuza Merchant

October 05, 2023 | 2:27 pm

LNVGY

The U.S. International Trade Commission (USITC) has announced an investigation into certain electronic devices made by Lenovo and Motorola Mobility. This follows a complaint filed by InterDigital, a mobile technology research and development company.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 1:25 pm

EURN

Euronav NV is considering a transaction that would terminate its pending arbitration action against Frontline and its affiliates, conditional to a share sale.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 1:17 pm

MXL

SIMO

Silicon Motion Technology Corporation (SIMO) has filed an arbitration claim against MaxLinear, Inc. (MXL) for breaching its agreement to acquire the company. The claim was filed in the Singapore International Arbitration Centre and seeks payment of the termination fee of $160 million, further substantial damages, interest and costs.

Portfolio Pulse from Benzinga Newsdesk

October 05, 2023 | 1:09 pm

BTCUSD

Crypto journalist Coffeezilla criticized Michael Lewis' new book about Sam Bankman-Fried (SBF), the founder of FTX, who is facing trial for alleged fraud. The book, 'Going Infinite: The Rise and Fall of a New Tycoon', is seen by Coffeezilla as a defense of SBF rather than a critical examination of his actions. The book details FTX's journey under SBF's leadership, but Coffeezilla suggests it presents a positive image of SBF, contradicting court filings and investor losses. SBF is charged with multiple counts of fraud and conspiracy, each carrying a maximum sentence of 20 years.

Portfolio Pulse from Mehab Qureshi

October 05, 2023 | 11:33 am

AAPL

GOOG

MSFT

Apple Inc. had considered replacing Google with DuckDuckGo as Safari’s default search engine for its private mode, but dismissed the idea. The decision was revealed during the ongoing antitrust trial against Google. Apple's executive, John Giannandrea, argued that DuckDuckGo’s reliance on Bing for search information might lead to sharing user information with Microsoft Corporation, contradicting DuckDuckGo's privacy claims. Previously, Apple also explored the possibility of acquiring Microsoft's Bing search engine.

Portfolio Pulse from Benzinga Neuro

October 05, 2023 | 9:14 am