Streetbeat News

Legal

UHAL

U-Haul trucks have been increasingly used for illegal cannabis shipments, with several incidents reported across the US. The most recent case involved a U-Haul truck crashing into a police station in Los Angeles, with the occupants found in possession of large quantities of marijuana. Previous incidents have occurred in Texas and Ohio, with the largest seizure of 3,181 pounds of marijuana in 2005 in Ohio.

Portfolio Pulse from Maureen Meehan

October 28, 2023 | 1:16 pm

AAPL

GOOG

GOOGL

In 2021, Google, a subsidiary of Alphabet Inc., reportedly paid $26.3 billion to various partners, including Apple, to maintain its default search engine status on browsers and mobile devices. This information was revealed during the ongoing federal antitrust trial against Google. The trial's outcome could significantly affect Google and the broader tech industry.

Portfolio Pulse from Ananya Gairola

October 28, 2023 | 6:25 am

DIS

Walt Disney World’s governing district, appointed by Florida Governor Ron DeSantis, is being accused by Disney (NYSE:DIS) of delaying the release of important documents related to an ongoing lawsuit. The lawsuit revolves around who holds design and construction authority over Disney’s theme park resort in Florida. Disney is seeking a delay in the case until it can access the requested documents and conduct necessary depositions.

Portfolio Pulse from Benzinga Neuro

October 28, 2023 | 1:49 am

DIS

DKNG

PDYPY

PENN

SGHC

The upcoming launch of ESPN Bet, a partnership between PENN Entertainment and The Walt Disney Company, is making headlines due to a logo dispute with social sports betting site BroThrow. The World Series match-up is set with the Arizona Diamondbacks and Texas Rangers, with DraftKings and FanDuel featuring bets on the outcome. The National Hockey League announced a 41-game suspension for Shane Pinto for sports betting, despite the Ottawa Senators having a helmet sponsor with a gambling company, Betway, a unit of Super Group.

Portfolio Pulse from Chris Katje

October 27, 2023 | 8:52 pm

AAPL

MASI

The International Trade Commission (ITC) has upheld a decision that Apple Inc. infringed on Masimo Corporation's patent rights related to a light-based technology used in blood-oxygen-level monitoring. If Masimo is successful, Apple might be forced to pay royalties, potentially generating $50 million-$100 million of annual revenue for Masimo. However, Apple is expected to appeal the decision, which could delay any potential royalty payments. Masimo's recent acquisition of Sound United and its potential for growth in the medical business were also highlighted.

Portfolio Pulse from Nabaparna Bhattacharya

October 27, 2023 | 6:44 pm

SCLX

Scilex has filed an emergency motion in the Bankruptcy Court for the South District of Texas, seeking an order to compel the production of books and records from certain brokers, dealers, banks, and nominees under Rule 2004 of the Federal Rules of Bankruptcy Procedure.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 6:10 pm

AMZN

GOOG

META

MSFT

Amazon.com Inc (NASDAQ: AMZN) has reported a YoY increase of 13% in revenue for Q3 2023, with net income more than tripling to $9.9 billion. The company's cloud service, Amazon Web Services, saw a 12% expansion in revenue, while its core e-commerce segment expanded by 7%. Advertising revenue also saw a significant increase of 26% YoY. Despite facing legal challenges and macroeconomic issues, Amazon is expecting robust margins to continue throughout the rest of the year.

Portfolio Pulse from Upwallstreet

October 27, 2023 | 5:08 pm

BTCUSD

Craig Wright, who claims to be the founder of Bitcoin, has won a U.S. Appeals Court case, ruling that he was not in a legal partnership with the late David Kleiman when they mined Bitcoin together. The ruling upheld a 2021 decision over whether the Kleiman estate had a right to the supply of minted bitcoin, believed to be worth billions. Wright's recent legal battles also include a lawsuit against UK-based crypto developers.

Portfolio Pulse from Murtuza Merchant

October 27, 2023 | 4:31 pm

NWG

NatWest Group PLC (NYSE:NWG) shares dropped by around 11% following the release of its Q3 FY23 results and the disclosure of key findings from an independent review related to the closure of accounts of former U.K. Independence Party leader, Nigel Farage. The bank admitted 'serious failings' in the decision-making process and handling of confidential information. Despite this, the company reported an increase in total income to £3.488 billion, up from £3.229 million a year ago, and a net impairment charge of £229 million. The bank also expects total income to be around £14.3 billion and NIM greater than 3% for FY23.

Portfolio Pulse from Lekha Gupta

October 27, 2023 | 3:28 pm

AAPL

MASI

The U.S. International Trade Commission (ITC) has upheld a January judge’s decision that found Apple Inc. guilty of infringing Masimo’s patent rights related to a light-based technology used in blood-oxygen-level monitoring. This could potentially lead to a ban on Apple from importing its Apple Watch. The ruling is not effective immediately as it awaits presidential review and possible appeals. The dispute began in January 2023 when a U.S. judge ruled that Apple had infringed on one of Masimo’s pulse oximeter patents.

Portfolio Pulse from Benzinga Neuro

October 27, 2023 | 10:30 am