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AAPL

QQQ

Apple Inc. launched the Apple Card, a credit card issued by Goldman Sachs, four years ago. The card, linked to Apple Pay, offers features like no fees, lower interest rates, and cash back on purchases. It contributes to Apple's Services business, a key revenue generator. However, Goldman Sachs' 'Platform Solutions', including Apple Card, saw a net loss of $667 million in the recent quarter. If an investor had put in $1,000 in Apple on the day the Apple Card was launched, the investment would have fetched a return of roughly 247% over a four-year period.

Portfolio Pulse from Shanthi Rexaline

August 23, 2023 | 7:33 am

Ford has entered into a revolving credit agreement with lenders, providing $4B of commitments to Ford. The agreement has a maturity date of August 15, 2024.

Portfolio Pulse from Charles Gross

August 22, 2023 | 9:21 pm

Hawaiian Electric Industries Inc is seeking advice from various experts, including Guggenheim Securities, to maintain its financial health.

Portfolio Pulse from Happy Mohamed

August 22, 2023 | 6:42 pm

Macy's executive has stated that the company is working closely with its bank partner to mitigate the impact of rising bad debts by adjusting underwriting strategies.

Portfolio Pulse from Benzinga Newsdesk

August 22, 2023 | 12:34 pm

ROIVW

Presidential candidate Vivek Ramaswamy predicts a US recession in 2024, based on historical indicators such as the inverted yield curve and current labor market conditions. He also highlights the impact of inflation, with goods being 16%-20% more expensive than in 2020. Ramaswamy is known in the biotech space, having founded Roivant Sciences (NASDAQ:ROIVW) and Myovant Sciences.

Portfolio Pulse from AJ Fabino

August 21, 2023 | 9:55 pm

BABA

KWEB

Chinese stocks have been hit hard due to concerns about China's economic growth and surprise rate cuts. China's central bank reduced the lending rate for its 1-year bonds but kept the 5-year bond interest rates steady. Analyst Adam Button sees similarities between China's economic situation and the U.S. crisis of 2008. The uncertainty has led to a sharp decline in a number of Chinese stocks like Alibaba Group (NYSE:BABA), JD.Com Inc (NASDAQ:JD), which are among the holdings in the KraneShares CSI China Internet ETF (NYSE:KWEB).

Portfolio Pulse from Aaron Bry

August 21, 2023 | 6:56 pm

AMZN

DIS

KHC

META

MPW

ODFL

SCU

TSLA

WMT

Meta Platforms is preparing to launch a desktop version of Threads to compete with Elon Musk's X. Amazon has restarted its external shipping service, challenging FedEx and UPS. High-profile investors have presented a competing bid for Sculptor Capital Management. Kraft Heinz plans to offer Lunchables to school cafeterias. Medical Properties Trust's deal with Prospect Medical Holdings is on hold. Tesla has suffered a data breach affecting over 75,000 people. Old Dominion Freight Line has offered $1.5 billion to acquire Yellow Corp's terminals. General Motors' Cruise is under investigation after a collision. DuPont is in talks to sell its Delrin resins unit. Disney is in a legal battle with Florida Governor Ron DeSantis. Goldman Sachs faces potential lawsuits over the 1MDB scandal. Citigroup is considering splitting its largest division. Walmart and Centric Brands are examining their Cambodian supply chains. US Steel denies union veto rights in company sale.

Portfolio Pulse from Vandana Singh

August 21, 2023 | 3:17 pm

CMPS

MNMD

PSIL

A recent study by the Federal Reserve indicates that cannabis and psychedelics consumption has reached all-time highs in 2022, particularly among adults aged 35-50. In other news, COMPASS Pathways (NASDAQ:CMPS) has entered into a securities purchase agreement for an initial $125 million and a potential additional $160 million, while MindMed (NASDAQ:MNMD) has secured a $50 million senior secured credit facility with K2 HealthVentures. The AdvisorShares Psychedelics ETF (NYSE:PSIL) opened at $1.8 on August 14, slightly below prior openings.

Portfolio Pulse from Lara Goldstein

August 21, 2023 | 2:55 pm

SPRU

Spruce Power Holding Corp (NYSE:SPRU) has acquired a portfolio of over 2,400 residential solar systems and contracts from a regulated utility company for $20.9 million. The portfolio is expected to generate about $4 million of annual run-rate revenue. The acquisition has increased Spruce's portfolio to over 75,000 home solar assets and contracts, representing approximately 50% growth in less than a year. The company funded the acquisition from the upsizing of its Spruce Power 2 credit facility.

Portfolio Pulse from Akanksha Bakshi

August 21, 2023 | 1:18 pm

COIN

Coinbase Global, Inc. has announced the early tender results of its offer to purchase up to $150 million of its 3.625% Senior Notes due 2031. The company has also increased the Total Consideration and the Tender Consideration per $1,000 principal amount of Notes tendered and accepted for purchase to $675.00. The Tender Offer will expire on September 1, 2023. The company has engaged Citigroup Global Markets Inc. to serve as Dealer Manager for the Tender Offer.

Portfolio Pulse from Happy Mohamed

August 21, 2023 | 1:01 pm