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EMKR

EMCORE Corporation has entered into a cooperation agreement with Bradley L. Radoff and appointed Cletus C. Glasener as the new Chairman of the Board. Jeffrey J. Roncka also joins the board. Concurrently, Stephen L. Domenik stepped down, and the board size was increased to six members. Additionally, EMCORE will amend and restate the charter for its Strategy and Alternatives Committee.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:02 pm

MJ

MSOS

Maine lawmakers rejected a bill proposed by Sen. Joe Baldacci to remove marijuana from the state's criminal code and expunge past convictions. The bill aimed to decriminalize marijuana possession and trafficking, eliminate mandatory minimum sentences for marijuana offenses, and order the expungement of past convictions. The Criminal Justice and Public Safety Committee voted 8–2 against the bill over concerns of lacking regulatory framework. An amended version suggests a stakeholder group review and report on potential changes to the criminal code. The bill now moves to the full legislature but faces challenges after the committee's majority voted against it.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:58 pm

BA

Senate Commerce Committee Chair Cantwell expressed concerns about the FAA's oversight effectiveness regarding Boeing's airplane production for safe operation.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:47 pm

BA

Senate Commerce Committee Chair Cantwell has requested a new special FAA technical audit focusing on 11 areas related to Boeing's production systems, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 8:47 pm

AMZN

BABA

GOOG

GOOGL

MSFT

SPY

Google has eliminated fees for customers migrating from Google Cloud to competitors like Amazon or Microsoft, a move that could prompt similar actions from these companies. This change comes amid regulatory scrutiny over switching penalties. Google's VP, Amit Zavery, noted that while these fees are a small part of total costs, they are a regulatory and customer concern. Google also aims to shift regulatory focus to Microsoft's practices that limit customers' ability to use Google Cloud. Google recently announced layoffs in its hardware and digital assistant teams and is reallocating resources to focus on priority investments. Additionally, Google is testing limits on cookie usage in Chrome, impacting the online advertising industry. Last year, Google's stock outperformed the SPDR S&P 500 ETF, Amazon, and Microsoft.

Portfolio Pulse from Anusuya Lahiri

January 11, 2024 | 8:21 pm

ACI

KR

A Kroger spokesperson commented on reports that Washington State plans to sue to block the proposed merger with Albertsons, stating that any attempt to enjoin the transaction at this stage would be premature. The deal has been under scrutiny due to concerns about reduced competition and potential negative impacts on consumers.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 7:31 pm

DCGO

DocGo Inc (NASDAQ:DCGO) responded to a short report by Fuzzy Panda, which accused the company of fraudulent billing and other illegal practices. DocGo refuted the claims, asserting its fiscal health and growth plans, with preliminary FY 2023 revenue of $615-$625 million and an expected increase in 2024 revenue to exceed $700 million. Needham maintained a Buy rating on DCGO with a $14 price target. DCGO shares rose 10.40% to $3.30 after the response.

Portfolio Pulse from Vandana Singh

January 11, 2024 | 7:15 pm

ENDPQ

Endo International (OTC:ENDPQ), a bankrupt generic drugmaker, has received court approval to solicit votes for its restructuring plan, which includes a $600 million trust to compensate various creditors affected by the opioid epidemic linked to its painkiller Opana ER. The plan is still under negotiation with U.S. agencies and proposes payments of up to $465 million over ten years. A group of states, tribes, and private institutions is supporting the vote solicitation, indicating progress in discussions with the U.S. Trustee and the Department of Justice.

Portfolio Pulse from Vandana Singh

January 11, 2024 | 7:09 pm

HUGE

GBB Drink Lab. Inc's lawsuit against FSD Pharma (NASDAQ:HUGE) for violating a Non-Disclosure Agreement and attempting to launch GBB's product without permission will proceed, as a federal court has refused to dismiss the case. The court recognized the economic value of GBB's trade secrets and the impact of FSD Pharma's actions on potential investors.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:17 pm

EBAY

eBay Inc. has agreed to pay a $3 million criminal penalty for a 2019 cyberstalking campaign against a Massachusetts couple and for obstructing the subsequent investigation. eBay was charged with stalking and obstruction of justice, and has entered into a deferred prosecution agreement. The company admitted to the facts and will have a corporate compliance monitor for three years. Seven former eBay employees or contractors were convicted, with sentences ranging from home confinement to 57 months in federal prison.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 5:43 pm