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Regulatory

MA

V

Visa Inc (NYSE:V) and Mastercard Inc (NYSE:MA) have reached a $30 billion settlement with U.S. merchants, ending two decades of antitrust litigation over swipe fees and merchant restrictions. The settlement includes capping credit interchange rates for five years, offering savings to merchants, and enhancing consumer payment options. Meanwhile, credit card APRs are on the rise, with the average new card offer at 24.66%, despite the Federal Reserve's current stance on rates.

Portfolio Pulse from Surbhi Jain

March 28, 2024 | 7:20 pm

TCNNF

The Florida Supreme Court did not issue a ruling on proposed amendments for cannabis legalization and abortion rights, causing uncertainty ahead of the April 1 deadline. Trulieve Cannabis (OTCQX:TCNNF), criticized by Florida's AG for supporting the cannabis initiative, is involved in the controversy. The outcome could impact the presidential election dynamics.

Portfolio Pulse from Maureen Meehan

March 28, 2024 | 7:04 pm

DIS

Blackwells Capital has initiated a lawsuit against Walt Disney in a Delaware court, aiming to access books and records to investigate potential disclosure violations related to its interactions with the hedge fund ValueAct, according to a court filing.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 6:38 pm

AMGN

Raymond James has resumed coverage of Amgen Inc (NASDAQ:AMGN), highlighting its diversified portfolio across various therapeutic areas, which is expected to drive long-term growth. Recent deals, like the Horizon deal, and successful product launches have strengthened its position, particularly in rare diseases. However, concerns about the durability of flagship products and market challenges persist. The company's innovative pipeline in oncology, rare diseases, and obesity shows promise despite uncertainties. The FDA's review of Lumakras and the requirement for an additional study by 2028 are noted. Despite challenges, Amgen's confidence in sustaining margins remains, with the stock's risk-reward balance appearing stable.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 6:28 pm

ANET

CSCO

JACK

Andreas Bechtolsheim, founder of Arista Networks Inc (ANET), settled insider trading charges related to Acacia's takeover by Cisco Systems Inc (CSCO) for nearly $1 million. The SEC also charged minor league baseball players with insider trading in Del Taco's takeover by Jack in the Box Inc (JACK). Additionally, the CFTC filed a civil action against KuCoin for operating an illegal exchange.

Portfolio Pulse from Neil Dennis

March 28, 2024 | 5:45 pm

WATT

Energous announced it has received a Notice of Allowance for its U.S. patent application 18/296,339, which is focused on systems and methods of wirelessly delivering power to a receiver device. This development marks a significant milestone in the company's efforts to advance wireless charging technology.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 5:08 pm

EIS

SPY

USO

The U.S. Defense Department is reportedly in early discussions to fund a peacekeeping force in Gaza, according to Reuters citing Politico. This development could have implications for defense spending and geopolitical stability in the region.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 5:00 pm

EVLV

NY Mayor Eric Adams announced the deployment of electromagnetic weapon detection systems in New York subway stations to enhance security. EVLV, a company involved in security technologies, may see an impact.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:58 pm

JNJ

Johnson & Johnson (NYSE:JNJ) has been granted the opportunity to challenge the scientific evidence linking its talc products to ovarian cancer in a federal ruling by U.S. District Judge Michael Shipp. This decision could affect over 53,000 lawsuits against the company. J&J, which has denied allegations of its talc products being carcinogenic, announced a tentative settlement of approximately $700 million in January to address investigations by 42 U.S. states and Washington, D.C. The company has until July 23 to present renewed arguments regarding the scientific evidence.

Portfolio Pulse from Vandana Singh

March 28, 2024 | 4:58 pm

SPY

Speaker Johnson announced that the U.S. House will transmit articles of impeachment against Homeland Security Secretary Mayorkas to the Senate on April 10, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:57 pm