Streetbeat News

Corporate Responsibility

AAPL

The article discusses a unique habit of the late Steve Jobs, co-founder of Apple Inc (NASDAQ:AAPL), who used to buy a new black Porsche 911 every six months to avoid having license plates, exploiting a California loophole that didn't require plates on new cars for up to six months. This practice, known as the 'Steve Jobs Loophole,' ended in January 2019 when California mandated temporary plates at the time of new vehicle sales. Jobs, who served as Apple's CEO from 1997 until 2011, was known for his leadership and the introduction of the iPhone.

Portfolio Pulse from Chris Katje

December 27, 2023 | 2:58 pm

BABA

NTES

PDD

TCEHY

Chinese regulators have proposed revisions to stringent video game rules, leading to a brief recovery in shares of gaming companies like Tencent Holdings and NetEase, Inc. The National Press and Publication Administration of China approved 105 new game licenses for December, which saw Tencent and NetEase shares increase by 5% and 10%, respectively. Despite this, concerns remain over the regulatory impact on the market. Smaller gaming companies saw lesser gains, and various firms have started share buyback plans with limited market impact. Alibaba Group Holding Limited has faced an 18% loss year-to-date amid leadership and organizational restructuring, while PDD Holdings Inc continues to grow its market share.

Portfolio Pulse from Anusuya Lahiri

December 27, 2023 | 2:15 pm

CALF

FANG

QCOM

TSM

On CNBC's 'Halftime Report Final Trades,' analysts recommended several stocks and ETFs. Bryn Talkington recommended Pacer US Small Cap Cash Cows 100 ETF (CALF) for its high free cash flow yield. Jim Lebenthal chose QUALCOMM Inc. (QCOM) amidst the formation of the Coalition for Open Digital Ecosystems (CODE) by tech companies including Qualcomm. Stephen Weiss selected Taiwan Semiconductor Manufacturing Co. Ltd. (TSM) as his final trade, noting the upcoming retirement of its Chairman, Mark Liu. Joseph Terranova favored Diamondback Energy, Inc. (FANG), citing strong momentum in the energy sector, while Raymond James analyst John Freeman maintained a Strong Buy on FANG with a reduced price target. Stock prices for QCOM, TSM, and FANG saw gains in Tuesday's session.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 2:08 pm

WRAP

Wrap Technologies, Inc. (NASDAQ:WRAP) has received its largest order ever, valued at $4.9 million, for its BolaWrap product to be delivered in Q4 2023. This order is seen as the beginning of a significant global deployment of WRAP's non-lethal restraint solutions in 2024. The company plans to use this order to scale production, accelerate R&D, and improve customer support, indicating strong demand and validation for its public safety technology.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:06 pm

SOAR

Volato Inc. (NYSE:SOAR) has increased its HondaJet fleet by 50% to 24 aircraft as of December 2023, with the addition of three new aircraft in that month. The company has also contracted for 22 additional HondaJet Elite IIs for delivery in 2024 and beyond. This expansion is part of Volato's strategic growth plan, which includes acquiring aircraft directly from Honda and managing planes for owners. The larger fleet will improve availability and flexibility for customers, and the company has signed a letter of intent for HondaJet's new Echelon aircraft, capable of transcontinental flights.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:05 pm

FSLR

First Solar, Inc. (FSLR) has entered into agreements to sell up to $700 million in 2023 IRA Advanced Manufacturing Production tax credits to Fiserv, Inc. The deal, facilitated by Citigroup Global Markets, Inc. as the placement agent, is at a rate of $0.96 per $1 of tax credits. This transaction, a first in the solar industry, is expected to enhance First Solar's cash position and balance sheet, allowing for further investment in growth and innovation. The tax credits are derived from the sale of PV solar modules produced by First Solar's US manufacturing facilities. The company plans to invest over $2 billion in new manufacturing facilities and expects to have 14 gigawatts of US solar manufacturing capacity by 2026.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 2:01 pm

OPT

Opthea shares are trading higher following the announcement that the company will receive the remaining $35 million from Carlyle and Abingworth, and has secured an additional $50 million from a new co-investor.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:53 pm

MSFT

NYT

The New York Times has filed a lawsuit against OpenAI and Microsoft, alleging that millions of its copyrighted articles were used to train chatbots, which are now competing with the newspaper. The lawsuit claims infringement of copyright and seeks to address the competitive implications of AI-generated content.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:19 pm

CNSL

Consolidated Communications Holdings, Inc. (CNSL) is urging shareholders to vote for a proposed acquisition by Searchlight Capital Partners and British Columbia Investment Management Corporation. The offer is $4.70 per share, a 70% premium over the April 12, 2023 share price, and a 218% increase from the initial bid. The transaction is seen as the best risk-adjusted outcome for shareholders, providing a certain value and transferring execution risks to the acquirers. The Special Meeting to vote on the transaction is scheduled for January 31, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 1:09 pm

GOOG

GOOGL

The Chameleon banking trojan, first identified in January 2023, has evolved with new capabilities to disable biometric authentication on Android devices, allowing it to steal passwords and PINs. The malware, which initially targeted users in Australia and Poland, is now also affecting users in the U.K. and Italy. It disguises itself as Google Chrome apps and exploits Android 13's 'Restricted Settings' to bypass security measures. Alphabet Inc. (GOOG, GOOGL) is mentioned as the trojan masquerades as its Google Chrome apps.

Portfolio Pulse from Rounak Jain

December 27, 2023 | 12:57 pm