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AAPL

QCOM

Apple Inc.'s project to develop its own modem to replace components from Qualcomm Inc. has faced delays, pushing the timeline back to 2026. This setback means Apple will continue to rely on Qualcomm's technology for its iPhones for a longer period than initially expected. The delay could affect Apple's plans to control more of its supply chain and potentially impact its negotiating power and cost structure for components.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 7:57 pm

RBLX

Roblox Corp's Investor Day has sparked optimism among analysts, with several reiterating or upgrading their ratings and price targets based on the company's projected bookings growth, margin expansion, and advertising business potential. Piper Sandler raised the price target from $50 to $52, while other analysts from firms like Oppenheimer, Needham, Benchmark, Morgan Stanley, Citi, and Raymond James provided positive outlooks and price targets ranging from $30 to $52. Despite the positive analyst sentiment, RBLX shares traded lower by 4.48% at $37.98.

Portfolio Pulse from Anusuya Lahiri

November 16, 2023 | 6:48 pm

SPY

SEC Chair Gary Gensler has announced that the SEC is seeking to enhance standards and promote board independence. The measures aim to consider the views of relevant stakeholders and reduce potential conflicts of interest concerning board and senior management decisions.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 6:22 pm

AMSWA

American Software has entered into an agreement to divest its transportation rating solutions. This move is in line with the company's strategy to focus on AI-first supply chain technology solutions.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 5:05 pm

FMST

At the Benzinga 'Metals & Mining' Conference, Foremost Lithium's President & CEO, Jason Barnard, discussed the company's anticipation of corporate developments that will enable financing for further lithium explorations.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 4:05 pm

MAT

Mattel, Inc. (NASDAQ:MAT) has appointed Michelle Mendelovitz as Head of Mattel Television Studios. Mendelovitz will manage development, production, and distribution of content globally and reports to Chief Franchise Officer Josh Silverman. She brings experience from Disney 20th Television Studios, Apple TV+, Sony Pictures Television, and CBS Television Network. Mattel's CEO Ynon Kreiz expressed enthusiasm for Mendelovitz's role in growing the fan base and developing culturally resonant stories. Mattel Television Studios has premiered 12 series and specials in 2023, focusing on content from Mattel's iconic franchises.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 4:01 pm

NLSP

NLS Pharmaceutics AG (NASDAQ:NLSP) stock plummeted 40% after announcing it is exploring strategic alternatives, including partnerships and licensing, and implementing cost-saving measures such as reducing its workforce by 50%. These steps are taken to diversify revenue, extend cash reserves, and streamline operations while focusing on innovation in therapies for nervous system disorders.

Portfolio Pulse from Henry Khederian

November 16, 2023 | 4:00 pm

SONO

Sonos Inc. is reducing its workforce in the product development organization as it gears up to enter the headphones market. This decision follows the company's recent earnings report and was communicated by Chief Product Officer Maxime Bouvat-Merlin to employees. The exact number of job cuts has not been disclosed, but affected employees will be notified by email.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:53 pm

GM

Union workers at General Motors have ratified a deal with the United Auto Workers (UAW) after a contentious vote. The agreement's details and the potential impact on GM's operations were not disclosed in the article.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:47 pm

AAL

American Airlines Group Inc. (AAL) subsidiary, American Airlines, Inc., plans to issue $750 million in senior secured notes due 2029 and borrow an equal amount under a new term loan. The proceeds, along with cash on hand, will be used to redeem $1.5 billion of its 11.75% Senior Secured Notes due 2025. The new notes and term loan will be secured by certain assets and guaranteed by the parent company. The offerings are subject to market conditions and are not interdependent.

Portfolio Pulse from Benzinga Newsdesk

November 16, 2023 | 3:32 pm