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Wedbush analyst Daniel Ives predicts major developments in the tech sector for 2024, including AI going mainstream, Apple introducing an AI App Store, increased M&A activity, Tesla launching a sub-$30K vehicle, tech stocks rising by 25%, Apple potentially acquiring ESPN, cybersecurity being the top sub-sector, the 'Magnificent 7' leading tech growth, Musk advancing the super-app concept for X, and Apple and Microsoft reaching $4 trillion market caps.

Portfolio Pulse from Chris Katje

December 19, 2023 | 9:55 pm

MITK

Mitek Systems has announced the appointment of David Lyle as its new CFO, effective January 2, 2024. Fuad Ahmad, the current interim CFO, will stay on for several months to ensure a smooth transition.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:53 pm

CCO

Clear Channel Outdoor Holdings, Inc. has announced the appointment of David Sailer as the new Executive Vice President and Chief Financial Officer, effective March 1, 2024. He will be succeeding Brian Coleman, who is transitioning to a consulting role within the company.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:46 pm

Goldman Sachs is contemplating a major change to its management committee, potentially the largest in years, due to recent departures. CEO David Solomon, with advice from President John Waldron, may expand or shrink the committee. The committee's size and composition are under review, with new members possibly having closer ties to Waldron. The final decision by Solomon could significantly impact the firm's strategic direction. No appointments have been confirmed, and speculation is high among potential candidates. An announcement is expected after annual compensation discussions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:44 pm

General Motors (GM) has reduced its Buick dealership network in the U.S. by about half through a voluntary buyout program, aiming to increase sales per location and profits. The program has cost GM approximately $1 billion and will continue into the next year. The reduction is also part of Buick's transition to exclusively offering electric vehicles (EVs) by 2030. Buick's U.S. sales have increased by 63% through the third quarter compared to the previous year, and the introduction of the new Envista crossover is expected to further boost sales.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:44 pm

FTCH

The NYSE is starting delisting proceedings against Farfetch due to its subsidiary's bridge financing agreements and asset disposal plans, which led to the resignation of all independent board members.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:43 pm

WOR

Andy Rose, President and CEO of Worthington Enterprises, stated that the company is well positioned for 2024 as a leading designer and manufacturer in building products, consumer products, and sustainable energy solutions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:42 pm

NVOS

Novo Integrated Sciences, Inc. (NASDAQ:NVOS) has received a partial assignment of a $1 Billion Gold-Bullion backed Bond from Blacksheep Trust. The Bond is a 20-year instrument with 12.5% annual interest, and the assignment to Novo is for up to 15 years without annual interest. This follows a Master Agreement between Novo and Blacksheep from September 27, 2023, for the transfer of $1 billion in collateral for monetization by Novo.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:40 pm

PRU

Prudential Financial, Inc. (NYSE:PRU) has entered into a $9.2 billion longevity risk transfer agreement with NN Life, a subsidiary of NN Group, marking its first international transaction in the Dutch market. The deal involves reinsuring over 200,000 policies and is part of Prudential's growth strategy to expand its Institutional Retirement Strategies business into The Netherlands. The company sees potential growth in the market following Dutch pension reform legislation.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:39 pm

BVS

Bioventus has appointed Robert Claypoole as its new President, CEO, and a member of its Board, effective January 10, 2024. He will succeed Anthony Bihl, who has been serving as interim CEO and a director on the Board since April 2023.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 9:39 pm