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Legal

HUT

Hut 8 Mining Corp. has responded to a short report, stating that the report includes false and misleading characterizations about its business. The company has refuted the claims made in the short report, defending its business practices and financial health.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 11:31 am

LMT

Lockheed Martin Corp. (NYSE:LMT) announced a potential delay in the delivery of the TR-3 version of its F-35 fighter jets due to software issues, causing its stock to drop by 3.9%, the largest decline in over four months. Despite surpassing fourth-quarter earnings estimates with $18.87 billion in sales, Lockheed predicts a 6.5% decrease in earnings for 2024. The Pentagon is withholding $7 million in payment for each F-35 in storage until the software and hardware upgrades are completed.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 10:52 am

NOK

Nokia has signed a multi-year 5G patent cross-license agreement with OPPO, which includes royalty payments and catch-up payments from OPPO. This agreement settles all pending patent litigation between the two companies across all jurisdictions. The specific terms of the agreement are confidential.

Portfolio Pulse from Charles Gross

January 24, 2024 | 10:51 am

EGRNQ

FXI

A group of offshore bondholders of China Evergrande is set to join a petition for the company's liquidation. This move could potentially accelerate the restructuring process of the debt-laden property developer. Evergrande, which has been struggling with over $300 billion in liabilities, has been trying to negotiate with creditors and restructure its debts. The involvement of the bondholder group in the liquidation petition may put additional pressure on the company to expedite its restructuring efforts.

Portfolio Pulse from Charles Gross

January 24, 2024 | 9:44 am

AMZN

Amazon.com Inc (NASDAQ:AMZN) has been fined $35 million by France's CNIL for using an 'excessively intrusive system' to monitor its warehouse employees, violating EU privacy rules. Amazon disputes the findings and may appeal. This adds to the controversies around Amazon's employee management practices, including 'quiet firing' and strict office attendance guidelines.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 7:50 am

AAPL

Apple Inc. is facing a lawsuit in the U.K. where over 1,500 app developers are seeking close to $1 billion in damages over alleged unfair App Store charges. Apple has appealed to a London tribunal to dismiss the case, arguing that most developers are not subject to commission fees and that U.K.-based claims should pertain to purchases made via the U.K. App Store. The lawsuit is part of a series of legal challenges Apple is dealing with in the U.K., including a mass lawsuit over App Store commissions and a case concerning iPhone batteries.

Portfolio Pulse from Ananya Gairola

January 24, 2024 | 5:10 am

ALK

BA

UAL

Boeing CEO Dave Calhoun is scheduled to meet with U.S. senators including Ted Cruz and Mark Warner to discuss the grounding of the 737 MAX 9, following a cabin panel blowout on an Alaska Air jet. The FAA has grounded 171 MAX 9 airplanes and recommended expanded checks on the 737-900ER fleet. United Airlines CEO Scott Kirby has concerns about the MAX 10 jets, which are vital for Boeing's recovery. Boeing has also announced a quality stand down at its Seattle-area location to address safety concerns.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 1:50 am

VSAC

VSACU

Vision Sensing Acquisition Corp. (VSAC) has received a delisting determination letter from Nasdaq. The company plans to appeal the determination and request a stay of delisting pending the outcome of the appeal hearing.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 10:49 pm

DWAC

SPY

The defamation trial against Donald Trump, brought by E. Jean Carroll, is set to resume on Thursday, according to court records cited by Reuters. The trial will not take place on Wednesday as previously scheduled.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:47 pm

DWAC

SPY

The defamation trial involving Donald Trump, brought by E. Jean Carroll, is set to resume on Thursday, with no proceedings taking place on Wednesday, according to Reuters citing court records.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 8:47 pm