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Investors expect the European Central Bank to cut rates six times by 2024, potentially before the Fed does. ADP data indicates a Goldilocks economy with employment change lower than expected but still positive. U.S. Q3 Unit Labor Costs fell more than anticipated, and productivity surged, which is positive for the stock market. India's stock market capitalization reached $4 trillion, with iShares MSCI India Small-Cap ETF (SMIN) up 31.2% YTD. Early trade money flows are positive for major tech stocks and ETFs like SPY and QQQ. Gold and oil are experiencing mixed actions from the momo crowd and smart money. Bitcoin crossed $44,000. The Arora Report advises investors to maintain a balance of cash, hedges, and good long-term positions.

Portfolio Pulse from The Arora Report

December 06, 2023 | 4:08 pm

ARVN

PFE

Arvinas, Inc. (ARVN) stock price increased following the announcement of positive interim data from a Phase 1b trial of Vepdegestrant in combination with Palbociclib, conducted in partnership with Pfizer.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 4:06 pm

AMZN

MAT

NFLX

Mattel Inc (MAT) has entered into a multi-year licensing partnership with Amazon MGM Studios, part of Amazon.com Inc (AMZN), to create and sell dolls and collector sets inspired by the Netflix Inc (NFLX) series 'Wednesday.' The products, including Monster High dolls and Little People Collector sets, will be released in 2024 and will be available on Amazon and other retailers. 'Wednesday' has been a massive hit on Netflix, becoming the most-watched English-language series on the platform and has been renewed for a second season.

Portfolio Pulse from Chris Katje

December 06, 2023 | 4:00 pm

LCID

SIRI

SiriusXM Canada and Lucid Group, Inc. have partnered to offer SiriusXM's audio streaming entertainment to all new and existing Canadian Lucid owners. This includes a 3-month trial subscription. SiriusXM will be an optional subscription for the Lucid Air lineup, enhancing the luxury driving experience with a wide range of curated music, entertainment, and sports content. The Lucid Air is designed to receive over-the-air software updates, allowing for continuous improvement and new features like SiriusXM.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 3:53 pm

ARVN

CPB

PHR

PHVS

PLAY

THO

WBUY

THOR Industries reported better-than-expected quarterly earnings of 99 cents per share against estimates of 98 cents, with sales of $2.50 billion versus $2.498 billion expected, sending its shares up 6.5%. Other stocks also moved higher, with significant gains following positive earnings, clinical study results, strategic moves, and financial updates.

Portfolio Pulse from Lisa Levin

December 06, 2023 | 3:48 pm

SCGLY

Société Générale (OTC:SCGLY) is set to launch EUR CoinVertible, a euro-denominated stablecoin, which will be the first offered by a major financial institution and fully backed by euros. Unlike JPMorgan's JPMCoin, which is limited to institutional clients, SocGen's stablecoin will be available for trading on crypto exchanges like Bitstamp and comply with the EU's upcoming MiCA regulations. The stablecoin aims to be used for settling trades in digital bonds and other assets, with the euros held in a trust managed by a third party, mitigating exposure risk to the bank.

Portfolio Pulse from Khyathi Dalal

December 06, 2023 | 3:25 pm

BTDR

CAN

NVDA

Bitdeer and Canaan are diversifying into AI to hedge against crypto volatility. Bitdeer partners with Nvidia to provide AI cloud services, while Canaan is creating a separate AI chip unit. Despite a crypto rally, Canaan's Q3 revenue fell 77% year-on-year, while Bitdeer's grew 14%. Both companies' fortunes may improve with rising crypto prices, but they remain cautious and aim to reduce reliance on crypto through AI diversification.

Portfolio Pulse from The Bamboo Works

December 06, 2023 | 3:17 pm

SERA

Sera Prognostics Inc (NASDAQ:SERA) stock surged after the DSMB overseeing its PRIME study recommended stopping enrollment due to efficacy, with co-primary endpoints meeting statistical significance at the interim analysis. The company will now focus on analyzing and reporting the data. The PreTRM Test, offered by Sera, predicts spontaneous preterm birth risk. The stock's volume spiked to 30.85 million shares, significantly higher than the 100-day average of 36.12k shares, leading to a 234.80% increase in stock price to $7.03.

Portfolio Pulse from Vandana Singh

December 06, 2023 | 3:13 pm

Bleeker Street Research has issued a report on NextNav Inc. (NN), a company that has been developing an alternative to GPS for sixteen years without significant commercial success. Despite raising $270 million as a private company and an additional $400 million from a BRiley SPAC, NextNav is struggling financially, with cash reserves dwindling and recent expensive debt taken on in August 2023. The company's Pinnacle Network, aimed at providing vertical location for Enhanced 911 services, faces competition from existing solutions by Google and Apple. NextNav's TerraPoint Network, which seeks to replace GPS, requires an estimated $1 billion investment, further challenging the company's financial stability.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 3:13 pm

COTY

Coty Inc. highlighted the resilience of the beauty category, noting its strong performance with an 8% growth in the U.S. in recent months, as stated at the MS Conference.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 3:10 pm