Streetbeat News

Legal

NVDA

Nvidia has received requests for information from antitrust regulators in France, the European Union, the United Kingdom, and China regarding its GPU sales and supply allocation efforts. This development could indicate regulatory scrutiny over Nvidia's business practices in these regions.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:09 pm

ACVA

ACV Auctions (NASDAQ:ACVA) has settled its antitrust litigation related to the AutoIMS technology platform, allowing the company to provide services to 1,300 commercial consignors using AutoIMS. This settlement enables ACV to expand its digital automotive marketplace and data services by connecting with hundreds of physical auctions. The agreement also includes ACV's participation in NAAA's membership programs and a donation to NAAA's scholarship program. The terms of the settlement are confidential, and it includes no admission of liability.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:50 pm

ACVA

ACV Auctions' stock price increased following the announcement of its Q4 financial results, which exceeded expectations. Additionally, the company has settled its antitrust litigation concerning the AutoIMS technology platform.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 9:24 pm

ALIT

Activist hedge fund Starboard Value has nominated four candidates to the board of directors of Alight Inc, according to sources reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 8:47 pm

DASH

DoorDash has reached a settlement with the California Attorney General over a privacy issue from four years ago, involving a vendor and the sharing of non-sensitive consumer information. DoorDash ceased working with marketing cooperatives in 2020, emphasizing its commitment to privacy.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 7:58 pm

CYH

MAX

MOTS

PANW

THRM

UCAR

U.S. stocks traded lower with the Nasdaq Composite down 1.06%. Energy shares rose by 1.7%, while information technology shares fell by 1.7%. FOMC minutes highlighted the Federal Reserve's cautious stance on interest rate reductions. MediaAlpha, Gentherm, and Motus GI Holdings saw significant stock increases following positive financial results and patent news, respectively. Conversely, Palo Alto Networks, U Power, and Community Health Systems experienced notable declines due to disappointing guidance and financial results.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 7:42 pm

LQDA

UTHR

United Therapeutics Corporation (NASDAQ:UTHR) has initiated legal action against the FDA over the approval process of Liquidia Corporation's (NASDAQ:LQDA) drug, claiming the FDA allowed Liquidia to improperly amend an existing new drug application for a second indication for PH-ILD, rather than requiring a new application. United Therapeutics argues this bypasses a potential 30-month stay on approval due to patent infringement litigation. Meanwhile, United Therapeutics reported strong Q4 earnings, with a 25% increase in sales and a significant rise in EPS.

Portfolio Pulse from Vandana Singh

February 21, 2024 | 6:17 pm

CYH

EXC

MAX

MOTS

PANW

THRM

UCAR

U.S. stocks traded lower with the Nasdaq Composite down 0.5%. Energy shares rose by 1.5%, while information technology shares fell by 1%. Exelon Corp reported better-than-expected Q4 results and increased its dividend. MediaAlpha, Gentherm, and Motus GI Holdings saw shares rise after positive financial results or patent news. Palo Alto Networks, U Power, and Community Health Systems shares fell due to disappointing guidance, delisting notice, and financial results, respectively. Oil prices increased by 0.6%.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 5:03 pm

NEO

NeoGenomics Inc (NASDAQ:NEO) reported a Q4 2023 adjusted EPS of $0.03, surpassing consensus estimates and marking a turnaround from a previous loss. Sales rose 12.1% Y/Y to $155.55 million, also beating estimates. The company saw a 20% increase in Clinical Services revenue and a 17% decrease in Advanced Diagnostics revenue. Adjusted gross profit margin improved to 46.7%. Despite a net loss decrease to $14 million, adjusted EBITDA was positive at $9 million. For FY 2024, NeoGenomics forecasts an adjusted EPS of $0.04, against a consensus loss of $(0.08). William Blair maintains an Outperform rating, viewing legal issues as a temporary concern.

Portfolio Pulse from Vandana Singh

February 21, 2024 | 4:01 pm

ADI

CYH

GBNH

MOTS

PANW

UCAR

VTYX

U.S. stocks traded lower with the Dow Jones falling over 100 points. Analog Devices reported higher-than-expected Q1 earnings but forecasted weaker Q2 earnings and revenue. Greenbrook TMS, Ventyx Biosciences, and Motus GI Holdings saw significant stock increases, while Palo Alto Networks, U Power, and Community Health Systems experienced declines. Oil and gold prices saw slight increases.

Portfolio Pulse from Avi Kapoor

February 21, 2024 | 3:06 pm