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FWRD

Shares of Forward Air (FWRD) are trading higher after the company reportedly settled its case with Omni.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:54 pm

FWRD

FreightWaves editor John Kingston announced that Forward Air Corporation ($FWRD) and Omni have settled their legal case. Details of the settlement have not yet been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:35 pm

DWAC

SPY

The defamation trial involving former President Trump has been postponed until Tuesday due to illness. The postponement was ordered by Judge Lewis Kaplan after a juror fell ill and one of Trump's lawyers reported a parent testing positive for Covid-19.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:14 pm

OPTT

PGNT

Paragon Technologies, Inc. (PGNT), holding 4.8% of Ocean Power Technologies, Inc. (OPTT), is urging shareholders to vote using the BLUE proxy card against OPT's current Board and CEO, citing a 90% decline in OPTT's share price since their tenure. Paragon claims OPT's statements about votes on the BLUE card not counting are misleading and expects the Delaware courts to resolve the issue of OPT's refusal to recognize Paragon's director nominees. Paragon is soliciting votes for its own nominees for the upcoming annual meeting.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 3:08 pm

JBLU

SAVE

Spirit Airlines Inc (NYSE:SAVE) stock is rising after announcing an appeal with JetBlue Airways Corp (NASDAQ:JBLU) against a ruling that blocked their merger. The appeal follows a decision by U.S. District Judge William Young, who deemed the $3.8 billion acquisition anticompetitive. The news has been positive for Spirit due to its recent financial challenges, while the market has not favored the merger for JetBlue. Spirit's stock surged 12% after the appeal notice but remains down over 50% since the ruling. The appeal process could take months, with a deadline for the merger set for July.

Portfolio Pulse from Adam Eckert

January 22, 2024 | 2:22 pm

DISH

SATS

The Buxton Helmsley Group, Inc. (BHG), an investment fund manager, issued a letter to EchoStar Corporation's Board of Directors alleging accounting and securities fraud, fraudulent conveyances, and breaches of fiduciary duty related to EchoStar's recent merger with DISH Network Corp. BHG claims that DISH had pre-merger material misstatements of financial position and that EchoStar did not respond to BHG's private notification of these issues. BHG holds a short interest in the securities of both companies and may adjust its positions in the future.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 2:05 pm

NMR

RILY

B. Riley Financial Inc (RILY) is reportedly under investigation by the SEC for its dealings with Brian Kahn, a client linked to securities fraud. The probe includes the use of Kahn's assets to secure a loan from Nomura Holdings Inc (NMR). B. Riley's stock has dropped 10.9% following the news, while Nomura's stock is up 2.02%. B. Riley denies knowledge of any SEC investigation and attributes the allegations to short sellers. The SEC is also examining B. Riley's dealings with bebe stores inc., associated with Kahn.

Portfolio Pulse from Vandana Singh

January 22, 2024 | 2:04 pm

NXTP

NextPlay Technologies Inc has filed an appeal against a delisting notice from Nasdaq. A hearing is scheduled for February 27, 2024, to determine the future listing status of the company, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 1:54 pm

ADM

Archer-Daniels-Midland (ADM) shares have dropped as the company's CFO has been placed on leave pending an investigation into the accounting practices of its nutrition segment.

Portfolio Pulse from Luke J Jacobi

January 22, 2024 | 1:53 pm

AMAM

JNJ

KVUE

MSFT

Johnson & Johnson (JNJ) is set to report Q4 earnings with a focus on dividend security post-Kenvue split, legal costs from talc litigation, and recent acquisitions. Analysts expect $2.28 EPS and $20.99 billion in revenue. JNJ's acquisition of Abiomed and Ambrx Biopharma (AMAM) strengthens its medical segments. Despite challenges, JNJ's dividend, with a 61-year growth history, seems secure. The stock closed at $161.68, with a Neutral consensus rating and a $175.75 price target.

Portfolio Pulse from Surbhi Jain

January 22, 2024 | 1:35 pm