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Legal

SPY

Republican U.S. Representative Ken Buck announced his resignation from Congress, effective at the end of next week, according to a statement on X.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 6:14 pm

JAZZ

Paige Figi, mother of Charlotte Figi who inspired the FDA-approved CBD medicine Epidiolex by Jazz Pharmaceuticals (NASDAQ:JAZZ), advocates for CBD access and regulation through her non-profit, Coalition for Access Now. Despite CBD's legalization under the 2018 Farm Act, the market remains unregulated, posing safety risks. Figi supports bills H.R. 1629 and S. 2451 to regulate CBD as a dietary supplement, emphasizing the urgency due to the wide-ranging benefits of CBD for various consumer groups.

Portfolio Pulse from Nina Zdinjak

March 12, 2024 | 5:44 pm

ILMN

Carl Icahn has decided not to pursue his previously considered plan to challenge the board of directors at Illumina, according to sources cited by Reuters. This development could signal a de-escalation in the potential conflict between the activist investor and the biotechnology company.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 5:37 pm

DGLY

Digital Ally announced it has received a Notice of Allowance for its U.S. Patent Application 18/076,960, titled 'Breath Analyzer, System, And Computer Program For Authenticating, Preserving, And Presenting Breath Analysis Data'. This development marks a significant milestone for the company in enhancing its intellectual property portfolio related to breath analysis technology.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 4:31 pm

COIN

MSTR

TSLA

The crypto market cap hits $2.5T with Bitcoin, Ethereum, Dogecoin surging as MicroStrategy buys more BTC. Tesla's German factory resumes after an arson attack. MILLI's value increases, outperforming Dogecoin and Shiba Inu. $47M stolen in crypto phishing in February. Bitcoin's volatility expected to decrease, while Ethereum's ETF approval odds drop. Ark Invest sells Coinbase shares despite Bitcoin's new highs. Tesla offers early Cybertruck delivery to long-term shareholders, and Volvo aims to cut EV charging times.

Portfolio Pulse from Akanksha Bakshi

March 12, 2024 | 4:04 pm

DWAC

Former President Donald Trump reportedly attempted to sell Truth Social to Elon Musk, owner of X (formerly Twitter), but failed. The conversation did not lead to a deal, but they have remained in contact. Trump also sought campaign donations from Musk for the 2024 election and invited him to speak at the GOP convention, which Musk declined. The report emerges as the SPAC merger between Digital World Acquisition Corp (DWAC) and Truth Social's parent company, Trump Media & Technology Group (TMTG), faces delays and litigation. Trump, facing significant legal fees and penalties, views TMTG as a financial lifeline. Musk, having bought Twitter and rebranded it to X, has criticized Truth Social and is seen as a competitor.

Portfolio Pulse from Chris Katje

March 12, 2024 | 3:45 pm

AMZN

zuMedia Inc. has filed a lawsuit against IMDb.com, Inc., owned by Amazon.com, Inc. (AMZN), in the Southern District of New York. The lawsuit seeks a judicial declaration that zuMedia's DMDb trademark does not infringe on IMDb's trademark and aims to cancel two of IMDb's trademark registrations. This legal action follows IMDb's opposition to the DMDb trademark registration, citing potential public confusion between the two trademarks. DMDb, launched in February 2023, is a platform providing information on various digital media and features a social media component and showcases Backskin.com, an innovative advertising platform.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 3:00 pm

UNH

The White House has summoned the CEO of UnitedHealth Group as the payment paralysis affecting the healthcare sector enters its third week. This move underscores the administration's concern over the ongoing disruptions caused by UnitedHealth's handling of payments. The situation has drawn significant attention, indicating potential regulatory scrutiny or intervention that could impact UnitedHealth's operations and possibly its financial performance in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:43 pm

EWW

SPY

U.S. Supreme Court Justice Samuel Alito has extended a temporary pause on a Texas law that permits state law enforcement to arrest individuals suspected of illegally crossing the U.S.-Mexico border. This decision continues to halt the implementation of the law pending further legal review.

Portfolio Pulse from Benzinga Newsdesk

March 12, 2024 | 2:23 pm

NVDA

NVIDIA Corporation (NASDAQ:NVDA) shares fell 2% to close at $857.74 on Monday, following a recent 19% gain over the past month and a 78% increase year-to-date. Mizuho analyst Vijay Rakesh maintained a Buy rating on NVIDIA, raising the price target from $850 to $1,000. NVIDIA faces a lawsuit from three authors alleging unauthorized use of their works to train its AI platform. The article also explores how investors can earn monthly income from NVIDIA's dividends, with an annual yield of 0.02%.

Portfolio Pulse from Avi Kapoor

March 12, 2024 | 1:38 pm