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Regulatory

AAPL

INDA

Apple has communicated to the Indian government that the proposed rule for a universal phone charger port could impact its local production targets. The company has requested that existing iPhone models be exempt from the new rule or for an extension of the deadline to comply. This information comes from documents cited by Reuters.

Portfolio Pulse from Charles Gross

December 05, 2023 | 10:54 am

BLK

BlackRock Inc. (NYSE:BLK) has received $100,000 in seed funding for a proposed spot Bitcoin ETF, as per an SEC filing. The investment, made in October, involved the purchase of 4,000 shares at $25 each by an anonymous investor. The fund, named 'iShares Bitcoin Trust,' will directly invest in Bitcoin rather than Bitcoin futures. The SEC is anticipated to approve spot Bitcoin ETFs in early 2024, with Bloomberg analysts estimating a 90% chance of approval by January 2024. Bitcoin's price recently surpassed $40,000, influenced by expectations of the SEC's approval of a Bitcoin Spot ETF.

Portfolio Pulse from Navdeep Yadav

December 05, 2023 | 9:47 am

META

Meta Platforms Inc (NASDAQ:META) is discontinuing the cross-app chatting feature between Instagram and Facebook Messenger, reversing its 2020 decision to integrate the two services. The change is expected to take effect by mid-December 2023. While Meta has not provided a specific reason for the disconnection, it is speculated that the move could be in response to the Digital Markets Act (DMA) in Europe, which requires large companies to ensure messaging platform interoperability. Meta's WhatsApp is already adapting to the DMA with a new 'Third-Party Chats' feature. The company has also been scaling back Messenger, having lost SMS/MMS capabilities on Android and shut down Messenger Lite.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 7:28 am

NEPT

Neptune Wellness Solutions has received a delisting notification from Nasdaq. The company plans to appeal the decision. The news could impact investor confidence and the company's ability to raise capital.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 6:54 am

AAPL

A check signed by Apple Inc co-founder Steve Jobs in 1976 is expected to fetch over $20,000 at auction. The check, which references the 'Apple Computer Company,' is a rare collectible as Jobs was known for rarely giving autographs. In the past, items signed by Jobs have sold for high amounts, with a letter declining an autograph request selling for $479,939 in 2021. The auction for the check is currently active with bids exceeding $22,000. Radio Shack, mentioned in the check's history, filed for bankruptcy in 2015.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 6:13 am

EWA

Australia's current account for Q3 reported a deficit of 0.2 billion, contrasting with the estimated surplus of 3.1 billion and the revised prior surplus of 7.8 billion.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 5:57 am

BRK

BYDDF

TSLA

VWAGY

Chinese EV manufacturer BYD Co. (OTC:BYDDF) faces a $12 billion selloff due to concerns over its sales targets and smart-car capabilities. The company's shares dropped 12% in November, with doubts cast by competition from Huawei and a volatile market. Despite record sales, BYD's growth is questioned, and Warren Buffett's Berkshire Hathaway (NYSE:BRK) has reduced its stake. The EU's probe into Chinese EV subsidies and a surge in short interest in BYD shares add to the challenges. BYD's market cap gap with Tesla (NASDAQ:TSLA) despite similar revenues and sales also raises analyst concerns.

Portfolio Pulse from Benzinga Neuro

December 05, 2023 | 4:47 am

BTCUSD

DOGEUSD

ETHUSD

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced significant surges amid a weak dollar and anticipation of lower interest rates. Bitcoin's rise is attributed to panic buying and FOMO, with Matrixport noting an increase in bitcoin perpetual futures premium. The global crypto market cap increased by 3.58% to $1.54 trillion. Stocks declined, with the S&P 500 and Nasdaq Composite falling by 0.54% and 0.84%, respectively. Big Tech shares were sold off, while Bitcoin and gold rallied. Investors speculate on a potential Fed interest rate cut despite Chairman Powell's cautioning. Analyst Michael Van de Poppe suggests Bitcoin could reach $47K-$50K pre-spot ETF approval, with altcoins expected to run in Q1 2024.

Portfolio Pulse from Mehab Qureshi

December 05, 2023 | 2:29 am

META

Meta Platforms Inc. (NASDAQ:META) is being sued for EUR 550 million (approximately $600 million) by a Spanish media association representing 83 outlets, including Prisa and Vocento. The lawsuit alleges that Meta engaged in unfair competition by using personal data from Facebook, Instagram, and WhatsApp users without explicit consent for ad placements, violating EU data protection rules from 2018 to 2023. This legal action reflects ongoing efforts by traditional media to challenge tech giants over data privacy and fair competition in advertising.

Portfolio Pulse from Ananya Gairola

December 05, 2023 | 1:27 am

MSTR

Dogecoin (DOGE) has seen a 16.3% increase over the past week, coinciding with broader cryptocurrency market strength. Bitcoin's surge past $40,000, following MicroStrategy's purchase of 16,130 Bitcoins, has positively influenced altcoins, including Dogecoin. The SEC's consideration of a rule change for a Fidelity Ethereum ETF also suggests growing institutional interest in cryptocurrencies, which could further boost altcoin prices like Dogecoin.

Portfolio Pulse from Henry Khederian

December 05, 2023 | 12:10 am