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Legal

DJD

DOGG

MMM

SOLV

3M Company (NYSE:MMM) received final approval from the U.S. District Court in Charleston, South Carolina, for its settlement agreement with U.S. public water suppliers concerning PFAS contamination. The agreement, which involves a $10.3 billion accrual over 13 years, aims to support water suppliers that detect PFAS. Additionally, 3M completed the spin-off of Solventum, which now trades under the ticker 'SOLV'. 3M retained 19.9% of Solventum's shares, planning to monetize them within five years. Investors can also gain exposure to 3M through Invesco Dow Jones Industrial Average Dividend ETF (NYSE:DJD) and FT Vest DJIA Dogs 10 Target Income ETF (BATS:DOGG). MMM shares dropped 13.6% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 01, 2024 | 1:28 pm

UHS

Universal Health Services (UHS) was ordered by a jury to pay $60M in compensatory damages and $475M in punitive damages due to a lawsuit related to the sexual assault of a minor patient by another in 2020. UHS plans to appeal the decision.

Portfolio Pulse from Charles Gross

April 01, 2024 | 12:21 pm

COP

IEO

XLE

ConocoPhillips (NYSE:COP) has requested a U.S. court to delay its decision on awards against Venezuela until the outcome of a Citgo Petroleum parent share auction is known. The auction aims to settle $21.3 billion in claims from Venezuela's expropriations and debt defaults. ConocoPhillips' claims total over $11.5 billion. The company's shares rose 0.57% to $128.00 in premarket trading. Exposure to COP can also be gained through IEO and XLE ETFs.

Portfolio Pulse from Lekha Gupta

April 01, 2024 | 11:34 am

SLGL

Sol-Gel Technologies' collaboration partner, Arcutis Biotherapeutics, has initiated a patent infringement action against Padagis concerning a generic version of Zoryve Cream for plaque psoriasis. The lawsuit was filed in the U.S. District Court for the District of New Jersey on March 26, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 11:19 am

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