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UAL

Alaska Airlines and United Airlines have extended cancellations of Boeing 737 Max 9 flights through Wednesday, according to Reuters. This decision may affect the operational schedules and customer bookings of both airlines, as well as reflect on Boeing's ongoing challenges with the 737 Max series.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 6:24 pm

CRUS

Four analysts have provided ratings on Cirrus Logic (NASDAQ:CRUS) in the last three months, with an average 12-month price target of $93.75, down from the previous $94.50. Analysts from Barclays, Keybanc, Loop Capital, and Susquehanna have made adjustments to their ratings and price targets. Cirrus Logic specializes in integrated circuits for audio and voice signal processing applications, with a strong net margin and ROE but facing revenue challenges and a lower market capitalization compared to industry peers.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 6:00 pm

ETHUSD

On Monday, 4,768.82 Ether (ETH) valued at $12.2 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5, 2021, which introduced a variable base fee for transactions that is burned. The Ethereum network currently has a 4% annual issuance rate of new Ether, expected to drop to 0.5-1% with Ethereum 2.0, potentially making ETH deflationary. The net annualized issuance rate for Ether was -3.82% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

January 16, 2024 | 6:00 pm

AMZN

CMCSA

DIS

FOX

FOXA

PARA

PARAA

Comcast Corporation's Peacock streamed the most-watched livestreamed event in U.S. history with the NFL Playoffs game between the Miami Dolphins and Kansas City Chiefs. The game averaged 23 million viewers and peaked at 24.6 million. Comcast also aired the Cleveland Browns vs. Houston Texans game, which was the most-watched Saturday NFL Wild Card game on NBC since 2014. The NFL's move towards streaming exclusives, including Amazon's 'Thursday Night Football', indicates a shift in how fans consume sports. Comcast benefits from strong NFL viewership, with six of the top 10 most-watched primetime broadcasts in 2023. The company has one more NFL Playoffs game to air and will report Q4 financial results on Jan. 25, which may reflect the impact of NFL rights on its performance.

Portfolio Pulse from Chris Katje

January 16, 2024 | 5:54 pm

SPR

Spirit Aerosystems has announced plans to enhance its manufacturing processes by leveraging the FAA's Safety Management System. This will involve incorporating visual work instructions and working with employees to improve their understanding of the Quality Management System, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 5:52 pm

SPR

Spirit Aerosystems CEO has announced an immediate increase in 737 inspections on their production line to match the quality assurance and controls that airlines will use to return the Boeing Max 9 to service.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 5:51 pm

BABA

BIDU

Alibaba Group Holding Limited (NYSE:BABA) shares have declined over 9% in January. The drop is partly attributed to broader market concerns following a report that Baidu, Inc.'s (NASDAQ:BIDU) AI platform is being tested by a university with ties to the Chinese military. Alibaba is also beta testing new AI tools for merchants. BABA's stock is trading below its 50-day moving average and its 52-week high. The company has a forward P/E ratio of 7.37, lower than its peers' average of 21.37, and has shown an average annual revenue growth of 20.74% over the past 5 years.

Portfolio Pulse from Erica Kollmann

January 16, 2024 | 5:45 pm

AAPL

Apple Inc (NASDAQ:AAPL) stock is trading lower after the company announced a price cut for iPhones in China to boost demand. The discount of up to 500 yuan ($70) is part of a Lunar New Year promotion. Early sales of iPhone 15 models in China are reportedly worse than previous models due to competition and government restrictions. The U.S. Supreme Court also declined Apple's appeal in the Epic v. Apple antitrust case. Meanwhile, Apple previewed its new Apple Vision Pro, launching on Feb. 2, featuring advanced technology for immersive entertainment experiences.

Portfolio Pulse from Adam Eckert

January 16, 2024 | 5:44 pm

ELAB

INMB

Elevai Labs, Inc. (NASDAQ:ELAB) stock is trading higher after announcing an exclusive worldwide licensing agreement with INmune Bio, Inc. (NASDAQ:INMB) to use INmune Bio's EMx technology for manufacturing hucMSCs. This technology allows Elevai to produce these cells more cost-effectively than purchasing them, which can be used in certain licensed topical cosmetic products. The agreement includes an initial deposit, a final tech transfer fee, and a nominal royalty on sales of products made using the technology.

Portfolio Pulse from Erica Kollmann

January 16, 2024 | 5:41 pm

Ford plans to start production of the electric Explorer in June, with first deliveries in August, after an eight-month delay. The delay was due to a new battery standard. Ford's second EV, also based on VW's platform, is expected by the end of 2024. The Cologne factory was upgraded for $2 billion for EV production. Ford aims to sell 600,000 EVs annually in Europe by 2026 and go all-electric by 2035. The electric Explorer will start under $50,000. Ford also confirmed an electric three-row SUV for the US and a next-gen electric pickup, the T3 project. Ford's next-gen EV platform is due in 2025.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 5:37 pm