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AAPL

Apple Inc (NASDAQ:AAPL) shares dropped 0.5% despite market gains, amid news of ending its partnership with Goldman Sachs for a digital credit card and savings account product. The termination is planned within 12-15 months, despite a 2022 extension to 2029. Apple is also reportedly working on a more affordable Vision Pro headset, aiming to cut production costs by 50%. Apple's 52-week trading range is between $124.17 and $198.23.

Portfolio Pulse from Henry Khederian

November 29, 2023 | 7:44 pm

DIS

At the Dealbook Conference, Disney CEO Bob Iger stated that ABC is not for sale, despite speculation to the contrary. Additionally, he mentioned that the production of 'The Marvels' faced challenges due to COVID-19, which may have affected timelines and costs.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 7:43 pm

DIS

Disney CEO Bob Iger, speaking at the Dealbook Conference, admitted that increasing Marvel content on streaming platforms was a 'definite mistake'. This acknowledgment suggests a potential shift in Disney's content strategy, particularly for its streaming services where Marvel series and movies play a significant role.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 7:42 pm

TSLA

General Motors (NYSE:GM) announced that despite the higher costs from new labor contracts and the UAW strike, it expects to offset these impacts and maintain its financial targets. The strike resulted in a $1.1 billion cost and lost production of 95,000 vehicles. GM revised its net income guidance to $9.1-$9.7 billion, down from $9.3-$10.7 billion, and adjusted EBIT to $11.7-$12.7 billion, down from $12-$14 billion. Capital spending will be at the lower end of the $11-$12 billion range. GM aims to cut fixed costs by $3 billion by the end of next year. Meanwhile, Tesla (NASDAQ:TSLA) is preparing for its Cybertruck event on November 30th, with deliveries starting on Thursday, although pricing and specs are not yet disclosed. Tesla's Cybertruck is expected to contribute to cash flow in a year to a year and a half.

Portfolio Pulse from Upwallstreet

November 29, 2023 | 7:39 pm

BIVI

FLNC

FTCH

HRL

ROVR

SEEL

VVOS

U.S. stocks traded higher, with the Dow Jones gaining over 100 points. Hormel Foods Corp reported Q4 sales decline and missed earnings estimates, projecting lower FY24 EPS than expected. Vivos Therapeutics received FDA clearance, causing shares to surge. Rover Group will be acquired by Blackstone. Fluence Energy reported strong Q4 results and provided FY24 guidance. BioVie, Seelos Therapeutics, and Farfetch saw significant share price drops due to negative news. The U.S. economy grew more than expected in Q3, and corporate profits jumped.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 7:20 pm

TSLA

Tesla Inc (NASDAQ: TSLA) is set to begin deliveries of the Cybertruck, with analyst Dan Ives of Wedbush maintaining an Outperform rating and a $310 price target. The launch is seen as a historical moment for Tesla and CEO Elon Musk, showcasing the vehicle's features and production plans. Tesla aims to deliver 2,000 to 3,000 units in Q4 2023, reaching 10,000 per quarter in H1 2024, and targeting annual production of 250,000 by FY 2025. The Cybertruck's pricing is expected to be announced, with estimates ranging from $50,000 to $80,000. The production ramp-up is anticipated to be challenging, with the vehicle not expected to be cash flow positive for 12 to 18 months. The launch is important for Tesla's growth and to demonstrate Musk's ability to expand the company's influence in the EV market.

Portfolio Pulse from Chris Katje

November 29, 2023 | 7:19 pm

VRTX

Health Canada has granted Market Authorization for Vertex Pharmaceuticals' KALYDECO for children with cystic fibrosis ages 2 months and older. This expands the treatment's use for specific CFTR gene mutations. Vertex is committed to facilitating access for eligible patients and continues to focus on developing treatments for younger CF patients.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 7:03 pm

PDCO

ROVR

VVOS

WOOF

Patterson Companies, Inc. (PDCO) shares fell by 14% after reporting Q2 earnings of $0.50 per share, missing estimates of $0.58 per share, and lowering FY24 adjusted EPS guidance below expectations. The company's sales were $1.65 billion, below the expected $1.70 billion. Other stocks moved in the mid-day session with various companies experiencing significant gains or losses due to various factors such as FDA clearances, earnings reports, acquisition announcements, and public offerings.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 7:02 pm

EWC

GOOG

GOOGL

The Canadian government has reached an agreement with Google to ensure that news remains available in Google's search results. Google has committed to contributing C$100 million to support news businesses across Canada.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 6:35 pm

INTC

NVDA

SSNGY

TSM

NVIDIA Corporation's CEO, Jensen Huang, stated that the U.S. may take up to two decades to achieve independence from foreign chip manufacturing. At the DealBook conference, he highlighted the global dependency of NVIDIA's supply chain and the impracticality of U.S. supply chain independence in the short term. Despite U.S. efforts to localize chip production, Huang emphasized NVIDIA's commitment to China, its largest market, and the need to develop new chips that comply with U.S. regulations for export. Leading chipmakers like TSMC, Samsung, and Intel are expanding their U.S. operations. NVIDIA's stock (NVDA) saw a slight increase of 0.74% to $481.75.

Portfolio Pulse from Nabaparna Bhattacharya

November 29, 2023 | 6:34 pm