Streetbeat News

Legal

ARKK

ARKW

ROKU

Roku, Inc. (NASDAQ:ROKU) shares are trading lower after announcing a partnership with the NBA to launch the NBA FAST channel and NBA Zone exclusively on The Roku Channel. Despite this, Roku faced backlash for implementing mandatory dispute resolution terms, including forced arbitration, causing devices to become inoperable until users agreed to these terms. ROKU stock has lost over 5% in the past year, and investors can also gain exposure through ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW).

Portfolio Pulse from Nabaparna Bhattacharya

April 03, 2024 | 4:26 pm

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) shares have surged over 45% in the past month, driven by cannabis legalization in Germany, potential U.S. marijuana rescheduling, and a favorable ruling in Florida for a recreational marijuana ballot. Additionally, Tilray's Medical division published a study on medical cannabis reducing prescription opioid use, underscoring the company's commitment to medical research. The stock's positive momentum is also supported by its performance relative to its 200-day moving average, indicating bullish investor sentiment.

Portfolio Pulse from Erica Kollmann

April 03, 2024 | 4:26 pm

ABUS

MRNA

Traders are closely monitoring Arbutus Biopharma in light of circulating court documents related to a patent infringement lawsuit involving Arbutus/Genevant and Moderna. The documents pertain to a claim construction order in the case.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:22 pm

ULCC

Frontier's Flight Attendants' Union has expressed opposition to the proposed overhaul of the airline's operation model, stating that any changes require dispute negotiations under the U.S. Railway Labor Act, according to a letter cited by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 3:46 pm

OCGN

Ocugen Inc (NASDAQ:OCGN) shares surged 14% to $1.58 after updating on its 2023 business activities and financial status. The company reported progress in gene therapy programs for blindness, with notable advancements in OCU400 and OCU410 trials. Ocugen is also advancing its vaccine and NeoCart® platform projects. Despite planning to restate 2022 financial statements due to errors, Ocugen's current funds are expected to support operations into Q4 2024. Shares have risen 80% over the past month following a favorable court ruling and a bylaw amendment to lower quorum requirements for shareholder meetings.

Portfolio Pulse from Henry Khederian

April 03, 2024 | 3:44 pm

EIS

SPY

The White House has expressed frustration over Israel's strike on aid workers in Gaza, emphasizing the importance of getting aid into the region. Despite the incident, it does not anticipate an impact on ceasefire discussions. Efforts to facilitate maritime aid into Gaza are ongoing.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 2:51 pm

TEVA

URGN

UroGen Pharma Ltd. has filed a patent infringement lawsuit against Teva Pharmaceuticals in the U.S. District Court for the District of Delaware, alleging infringement of two patents related to JELMYTO®, a treatment for low-grade, upper tract urothelial cancer. The patents in question are listed in the FDA's Orange Book and pertain to UroGen's proprietary RTGel® technology.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 12:26 pm

ORGO

Organogenesis Holdings Inc. announced that the United States District Court has dismissed a securities fraud case against the company. This legal victory is significant for Organogenesis, as it removes a major legal hurdle and potential financial liability.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 11:33 am

META

NFLX

Meta Platforms Inc. (NASDAQ:META) has denied allegations of sharing Facebook Messenger chats with Netflix Inc. (NASDAQ:NFLX), stating the partnership only allowed users to share their Netflix viewing with Facebook friends directly from the Netflix app. The denial follows claims of a 'special relationship' that supposedly gave Netflix access to private messages for advertising purposes. Meta's stock rose 1.23% following the clarification.

Portfolio Pulse from Rounak Jain

April 03, 2024 | 9:08 am

DIS

Elon Musk publicly endorsed Nelson Peltz for a position on Walt Disney Co's (NYSE:DIS) board of directors, suggesting that Peltz's involvement would significantly improve Disney's share price. Musk's support was expressed via X, highlighting Peltz's track record of enhancing shareholder value. Additionally, Musk criticized the alleged leaking of early election returns in Disney's proxy contest with Peltz, suggesting it could manipulate the contest's outcome.

Portfolio Pulse from Benzinga Neuro

April 03, 2024 | 8:06 am