Streetbeat News

Legal

ACB

CGC

IGC

IMCC

SNDL

Cannabis stocks, including ACB, CGC, IGC, IMCC, and SNDL, are trading higher following Florida's Supreme Court approval of a cannabis legalization proposal for the November election and the recent legalization of cannabis possession in Germany.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 3:28 pm

EWJ

FXI

SPY

U.S. Senators have raised concerns about Nippon Steel's connections with China in the context of a merger case. This development could potentially influence investor sentiment regarding companies and ETFs related to U.S.-China relations and the steel industry.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:48 pm

TSLA

Tesla reported a decline in volumes, attributing it partially to the early phase of the production ramp of the updated Model 3 at its Fremont factory. Additionally, factory shutdowns were caused by shipping diversions due to the Red Sea conflict and an arson attack at Gigafactory Berlin.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:06 pm

META

NFLX

Traders are closely monitoring Meta Platforms, Inc. (META) and Netflix, Inc. (NFLX) shares after a post on X (formerly Twitter) highlighted lawsuit documents filed in May 2023. These documents allege a data-swap deal between the two companies.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 12:54 pm

ANGO

BDX

AngioDynamics, Inc. (NASDAQ:ANGO) and Becton, Dickinson And Company (NYSE:BDX) have reached a settlement agreement to resolve their decade-long patent litigation. Under the agreement, BD will license certain port patents to AngioDynamics, and AngioDynamics will license some catheter patents to BD. AngioDynamics will pay BD a lump sum of $7 million, with $3 million paid upfront and the rest over 12 months, plus six annual payments of $2.5 million until February 2029. Additional payments may be required based on AngioDynamics' annual net sales from port products. The settlement aims to reduce legal expenses and distractions for both companies.

Portfolio Pulse from Nabaparna Bhattacharya

April 02, 2024 | 12:52 pm

COIN

LEVI

NVDA

SNAP

Notable insider sales were reported for Nvidia, Coinbase Global, Snap, and Levi Strauss. These sales could indicate various strategic decisions by insiders. Snap's General Counsel sold shares after a repurchase announcement, Levi Strauss' Director sold shares ahead of a financial report, Nvidia's Director sold after a price target increase, and Coinbase's President and COO sold shares following a legal setback.

Portfolio Pulse from Avi Kapoor

April 02, 2024 | 12:22 pm

SHEL

Shell plc (NYSE:SHEL) is appealing a Dutch court's landmark climate ruling from 2021, which ordered the company to cut its carbon emissions by 45% by 2030 compared to 2019 levels. The appeal comes as Shell has already achieved over 60% of its target to halve emissions from its operations by 2030 versus 2016 and has adjusted its ambitions regarding customer emissions and retired its 2035 target for a 45% reduction in net carbon intensity. Shell plans to invest $10 billion-$15 billion in low-carbon energy solutions between 2023-2025. SHEL shares rose 1.19% in premarket trading.

Portfolio Pulse from Lekha Gupta

April 02, 2024 | 11:12 am

RVTY

The Massachusetts Superior Court issued a preliminary injunction against Cloud Software Group, mandating compliance with its contractual obligations under strategic partner agreements with Revvity (RVTY).

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 10:16 am

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) experienced a significant stock plunge of over 21%, raising concerns from Mary Trump about the company's valuation and potential misuse as a campaign finance tool. She highlighted the discrepancy between TMTG's $10 billion valuation against its $4.1 million revenue and $58 million losses. Mary Trump suggested that TMTG's public status could allow for surreptitious financial support to Donald Trump, bypassing FEC regulations. She also raised concerns about foreign investment and the potential for TMTG to fail due to its financial instability and operational issues.

Portfolio Pulse from Shanthi Rexaline

April 02, 2024 | 6:54 am

TCNNF

VRNOF

The Florida Supreme Court's decision to allow a cannabis legalization amendment on the November 2024 ballot has been met with enthusiasm from the cannabis community, including executives from Trulieve Cannabis Corp (TCNNF) and Verano Holdings Corp (VRNOF). Both companies have expressed their support for the initiative, which could significantly impact the cannabis market in Florida, the nation's largest medical cannabis market.

Portfolio Pulse from Maureen Meehan

April 01, 2024 | 11:21 pm