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LCID

Saudi Arabia's Public Investment Fund (PIF), the majority owner of Lucid Group Inc (NASDAQ:LCID), has announced a multi-year partnership with electric motorsport series Formula E, Extreme E, and E1. The partnership, named Electric 360, aims to support the growth of electric motorsports through leadership events, STEM initiatives, and community apprenticeship programs. Financial details were not disclosed. PIF's involvement in electric mobility, including its 60% ownership of Lucid and partnership with Foxconn to form Ceer Motors, aligns with Saudi Arabia's diversification from oil.

Portfolio Pulse from Anan Ashraf

January 23, 2024 | 3:37 am

AAPL

Gene Munster of Deepwater Asset Management predicts that Apple Inc.'s (NASDAQ:AAPL) Vision Pro mixed-reality headset will take two years to reach one million unit sales, a slower pace compared to the iPhone's initial sales. Despite higher revenue from the Vision Pro's opening weekend, estimated at $555 million from 150,000 units, Munster suggests that the adoption rate will be gradual. Analyst Ming-Chi Kuo's estimates align with Munster's, noting potential tapering demand post-launch. The high price of the Vision Pro at $3,499 may hinder rapid adoption, contrasting with Apple's strategic shift towards wearable technology.

Portfolio Pulse from Ananya Gairola

January 23, 2024 | 3:24 am

FBTC

GBTC

IBIT

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced declines amid rising outflows from Grayscale's GBTC. BlackRock's IBIT and Fidelity's FBTC spot Bitcoin ETFs attracted over $1 billion in AUM each, post-launch. FTX offloaded its entire GBTC stake valued at nearly $1 billion. The global cryptocurrency market cap decreased by 1.59%. The S&P 500 and Nasdaq Composite hit record highs. Analysts predict Ethereum may outperform Bitcoin, and Bitcoin's price movements are influenced by ETF flows around the US market open.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 3:03 am

TCNNF

Florida Governor Ron DeSantis predicts that the state Supreme Court will approve a recreational cannabis initiative for the 2024 ballot. Despite his opposition to marijuana reform, DeSantis believes Florida voters should have their say. The initiative, backed by public support and funded by Trulieve Cannabis Corp, would allow medical cannabis companies to sell to adults but not permit home cultivation. Attorney General Ashley Moody is attempting to block the initiative, which has nearly one million signatures.

Portfolio Pulse from Maureen Meehan

January 23, 2024 | 2:12 am

AAPL

GOOG

GOOGL

MASI

SSNLF

Samsung Electronics Co. is entering the health tech sector with noninvasive glucose and continuous blood pressure monitoring technology, challenging Apple Inc. and other tech giants. Samsung plans to integrate health features into various devices, including the Galaxy Ring. The company is also enhancing its blood pressure features and exploring new sensors for earbuds. Apple, facing an IP dispute with Masimo Corporation, had to remove the blood oxygen feature from its latest Apple Watch models in the U.S. This intensifies the competition between Samsung and Apple, who recently surpassed Samsung in global smartphone shipments.

Portfolio Pulse from Ananya Gairola

January 23, 2024 | 1:47 am

DKNG

Former President Donald Trump is predicted to win the New Hampshire GOP primary with a 98% chance according to Polymarket, a cryptocurrency prediction market. Trump's strong position comes after winning the Iowa caucus and the withdrawal of candidates Ron DeSantis and Vivek Ramaswamy, who have since endorsed Trump. Nikki Haley remains in the race, but her odds are significantly lower. The New Hampshire primary betting has attracted over $4 million in wagers. DraftKings Inc's CEO expressed interest in political betting, which remains illegal in the U.S. The 2024 presidential election betting has reached $14.6 million, with Trump leading over Joe Biden.

Portfolio Pulse from Chris Katje

January 23, 2024 | 12:24 am

AAPL

AMZN

DKNG

FOX

FOXA

META

MSFT

NFLX

NTDOY

SONY

The Detroit Lions are approaching their first NFC Championship game in 32 years, with improved odds of winning Super Bowl LVIII. The article highlights technological and cultural phenomena that did not exist in 1992, the last time the Lions were this close to the Super Bowl, including companies like Amazon and Apple, social media platforms, cryptocurrencies like Bitcoin, and the PlayStation console. Fox Corporation will broadcast the game, and DraftKings provides betting odds.

Portfolio Pulse from Chris Katje

January 22, 2024 | 11:37 pm

BGCP

BGC Group has announced that its FMX Futures Exchange has received approval from the Commodity Futures Trading Commission (CFTC) to operate an exchange for US Treasury and SOFR (Secured Overnight Financing Rate) futures. This regulatory approval allows BGC to expand its offerings in the futures market, potentially increasing its competitive position in the financial services industry.

Portfolio Pulse from Benzinga Newsdesk

January 22, 2024 | 10:03 pm

BMY

EXEL

Bristol Myers Squibb (BMY) and Exelixis, Inc. (EXEL) announced positive four-year follow-up results from the CheckMate -9ER trial for Opdivo and CABOMETYX in treating advanced renal cell carcinoma. The combination showed superior progression-free survival, objective response rates, and overall survival compared to sunitinib. The results, which also include health-related quality-of-life benefits, will be presented at the ASCO 2024 Genitourinary Cancers Symposium.

Portfolio Pulse from Charles Gross

January 22, 2024 | 10:02 pm

AMD

NVDA

Jim Breyer, CEO of Breyer Capital, expressed strong support for Nvidia (NVDA) and AMD (AMD) on CNBC's 'Squawk Box', citing their pivotal role in AI applications, especially in healthcare. Breyer praised Nvidia's software layer around their chips and AMD's potential in AI hardware growth, expecting both companies to thrive. KeyBanc analyst John Vinh noted AMD's competitive edge and $2 billion outlook for MI300 compute accelerators in 2024. Nvidia's stock closed slightly up, while AMD's closed down on Monday.

Portfolio Pulse from Erica Kollmann

January 22, 2024 | 9:59 pm