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AAPL

AMZN

NFLX

RIVN

TSLA

Benzinga's weekly review highlights significant movements in the stock market and bullish and bearish perspectives on several US-listed companies. The Nasdaq, S&P 500, and Dow Jones all experienced losses, with the Nasdaq dropping 3.25%. Strong U.S. job market data may influence the Federal Reserve's interest rate decisions. Bullish reports include Tesla's Model Y becoming the bestselling EV, Amazon being a top pick for 2024, and optimistic Bitcoin predictions. Bearish news includes a $250 billion loss in market cap for tech giants like Apple and Amazon, Cloudflare's CEO criticizing Rivian's high repair costs, and streaming services like Netflix facing increased subscription cancellations.

Portfolio Pulse from Michael Cohen

January 06, 2024 | 1:22 pm

CMCSA

NTDOY

SONY

Following the success of 'The Super Mario Bros. Movie,' which grossed over $1 billion, Nintendo Co (OTC:NTDOY) is hinted to be exploring more film projects. Shigeru Miyamoto, Mario's creator, is considering unique opportunities for Nintendo in movies and amusement parks. Comcast Corporation (NASDAQ:CMCSA), through Universal Pictures, distributed the Mario movie. A 'The Legend of Zelda' live-action film, a collaboration between Nintendo and Sony Group Corp (NYSE:SONY), has also been announced. The success of the Mario movie and potential sequels or spinoffs could positively impact Nintendo's stock, which has seen a 21% increase over the last year.

Portfolio Pulse from Chris Katje

January 06, 2024 | 1:19 pm

CMCSA

DIS

DKNG

PDYPY

The final week of the NFL season is approaching with playoff spots on the line. ESPN, ABC, and ESPN+ will air two games on Saturday, while NBC will broadcast the Sunday Night Football game. The NCAA Football Championship will see Michigan face Washington. The Detroit Pistons ended their 28-game losing streak. Big bets at FanDuel included a 35-cent bet turning into $100 and a $5 bonus bet into $3,396.92. Bet365 shared the most bet-on teams and players in various sports, highlighting the impact of Lionel Messi's move to MLS on soccer betting.

Portfolio Pulse from Chris Katje

January 06, 2024 | 1:10 pm

AAPL

AMZN

ASTS

TMUS

TSLA

VOD

SpaceX, led by Elon Musk, has launched its first set of direct-to-cell Starlink satellites, partnering with T-Mobile US to potentially enter the telecommunications market. The technology aims to provide mobile phone connectivity anywhere on Earth, especially in areas with limited connectivity. SpaceX plans to offer text messaging this year and voice and data services by 2025, pending further FCC approvals. The move could increase SpaceX's customer base and compete with similar initiatives by Apple, Amazon's Project Kuiper, and AST SpaceMobile.

Portfolio Pulse from Chris Katje

January 05, 2024 | 10:01 pm

ANTO.L

EDV.L

GOLD

Barrick Gold Corp and Antofagasta plc have formed a $95 million partnership for copper exploration in Chile. Endeavour Mining Plc fired its CEO for misconduct involving a $5.9 million payment and personal conduct issues. The battery industry needs to invest $514 billion by 2030 to meet demand for lithium-ion batteries.

Portfolio Pulse from Austin DeNoce

January 05, 2024 | 9:40 pm

LGND

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) announced FDA approval for ZELSUVMI, a topical gel for treating molluscum contagiosum in adults and children over one year old. ZELSUVMI is the first novel drug approved for molluscum infections.

Portfolio Pulse from Charles Gross

January 05, 2024 | 9:32 pm

TCNNF

Florida State Rep. Ralph Massullo proposed a bill to cap THC levels in cannabis products, potentially affecting the cannabis legalization initiative funded by Trulieve Cannabis Corp. (TCNNF). The bill limits THC to 10% in smokable products and 60% in other forms, except edibles, which would have a 200mg cap per product and 10mg per serving. The legalization amendment, supported by Smart & Safe Florida and funded by Trulieve, aims to allow non-medical use of marijuana for adults over 21. Attorney General Ashley Moody opposes the initiative, citing its failure to acknowledge federal illegality. The state's highest court will decide by April 1 if the amendment can be voted on, requiring a 60% majority to pass. Over one million Florida voters have signed petitions supporting the amendment.

Portfolio Pulse from Maureen Meehan

January 05, 2024 | 9:30 pm

HLTH

Cue Health announced that the FDA has decided not to prioritize the review of the company's Emergency Use Authorization (EUA) request for its product. As a result, the FDA has declined to issue an EUA at this time. Cue Health expects that payments related to the CRP will be finalized by the end of Q3 2024, according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:19 pm

HLTH

Cue Health received a response letter from the FDA on December 28 regarding their Emergency Use Authorization (EUA) submission for a combined Flu A/B and COVID-19 molecular test, intended for over-the-counter and point-of-care use, as disclosed in an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:18 pm

TLLTF

VRNOF

A study in the Journal of Cancer Survivorship found that 17.4% of cancer survivors use cannabis, with many reporting symptom improvement. However, awareness of potential risks is low. The study calls for more research and education on cannabis use in cancer management. Industry players like Verano Holdings Corp. (VRNOF) and TILT Holdings Inc. (TLLTF) support breast cancer awareness initiatives.

Portfolio Pulse from Joana Scopel

January 05, 2024 | 9:15 pm