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Revenues

AAPL

AMZN

Economist Steve Hanke predicts a recession and a stock market downturn, with inflation falling below 2% by the end of 2024. He believes the stock market is overvalued and will decline as the recession impacts, with the S&P 500 index currently trading near an all-time high. Hanke attributes unstable inflation to changes in the U.S. money supply. Despite a majority of top investors expecting a 'soft landing' for the U.S. economy, Hanke's view contrasts with this optimism, suggesting caution in the market.

Portfolio Pulse from Benzinga Neuro

January 19, 2024 | 5:40 am

AAPL

AMZN

GOOG

Amazon's premium AI voice assistant project, 'Remarkable Alexa,' faces internal disputes and technical issues, leading to potential delays. Despite testing with 15,000 customers, Alexa's performance is underwhelming, often providing inaccurate or evasive responses. The project's viability is questioned internally, especially regarding the feasibility of a subscription model for Alexa. This comes as Alexa trails behind Google Assistant and Siri in user numbers. Amazon previously faced legal issues with Alexa, including a $30M settlement over privacy concerns and criticism for spreading false election information.

Portfolio Pulse from Ananya Gairola

January 19, 2024 | 5:14 am

CP

FDX

Jim Cramer, on CNBC's 'Mad Money', warned investors about the potential impact of the Red Sea crisis on inflation and the Fed's efforts to control it. The crisis has disrupted global shipping routes, leading to higher shipping costs and potentially higher crude prices. Cramer advised against investing in shipping stocks and suggested owning stocks like FedEx Corp (FDX) or Canadian Pacific Kansas City Ltd (CP) instead. The crisis, exacerbated by a U.S. tanker seizure by Iran and Houthi rebel attacks, could significantly impact the broader economy and market sustainability.

Portfolio Pulse from Benzinga Neuro

January 19, 2024 | 4:22 am

GOOG

GOOGL

MrBeast's video on Elon Musk's X platform, '$1 Car vs $100,000,000 Car', has garnered over 100 million views in less than a week. Skepticism arises due to X's view count policy, which counts multiple non-unique views. MrBeast's decision to post on X versus YouTube, owned by Alphabet Inc. (GOOG, GOOGL), is highlighted by his statement that even a billion views on X wouldn't fund his video production costs. The impact of X's Creator Ads Revenue Sharing initiative on MrBeast's earnings is yet to be determined.

Portfolio Pulse from Ananya Gairola

January 19, 2024 | 3:47 am

GM

Cadillac, a luxury brand of General Motors Co (NYSE:GM), is increasing production of its Lyriq electric SUV due to improved battery availability and high demand for luxury EVs. The production had previously been limited by battery module assembly issues. Cadillac's global vice president John Roth noted the luxury EV market's strength, with 60% of luxury consumers considering an EV for their next purchase. The Lyriq sold 9,154 units in 2023, a significant increase from 122 in 2022. Despite losing eligibility for a federal EV tax credit, GM plans to source eligible components in early 2024 to regain this benefit.

Portfolio Pulse from Anan Ashraf

January 19, 2024 | 3:31 am

EIGR

Eiger BioPharmaceuticals and its partner AnGes have received approval in Japan for Zokinvy (lonafarnib) to treat Hutchinson-Gilford Progeria Syndrome and related conditions. Eiger will receive a $500K milestone payment as a result of this approval.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 10:52 pm

FNB

F.N.B. Corporation (NYSE:FNB) saw its stock price fall in after-hours trading following the release of its Q4 financial results. Despite beating earnings per share estimates with $0.38 compared to the expected $0.35, the company's revenue of $337.10 million fell short of the $403.83 million analyst forecast. Year-over-year, earnings decreased by 13.64% from $0.44 per share. However, total loans and leases grew by 6.8% to $2.1 billion. The company highlighted a record full-year operating earnings, record revenue, and a significant increase in tangible book value per share. F.N.B. also mentioned balance sheet actions aimed at enhancing future profitability and capital positioning as they move into 2024. After the report, FNB shares dropped by 6.09% to $12.25.

Portfolio Pulse from Ryan Gustafson

January 18, 2024 | 10:40 pm

AA

ABAT

IDR

BMO Capital analyst Katja Jancic downgraded Alcoa Corporation's (AA) price target from $30 to $29 following a Q4 earnings report showing a loss and revenue decline. Idaho Strategic Resources (IDR) reported its best year with significant revenue and gold production increases. American Battery Technology Company (ABAT) announced an upgraded resource classification for its Tonopah Flats Lithium Project, indicating a stronger potential for commercialization with a substantial increase in lithium resource size and higher confidence levels.

Portfolio Pulse from Austin DeNoce

January 18, 2024 | 9:31 pm

MESA

UAL

Mesa has entered into an agreement with United Airlines that increases the block-hour rate under its Capacity Purchase Agreement (CPA), effective from October 1, 2023, to December 31, 2024. This adjustment is expected to generate an additional $63.5 million in revenue for Mesa over the next twelve months, enhancing the company's liquidity.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:27 pm

MESA

UAL

Mesa Air Group has entered into new agreements with United Airlines that are expected to enhance its operating income and liquidity over the next year. Additionally, Mesa Air is working on selling excess CRJ-900 assets to decrease its debt and improve liquidity.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 9:21 pm