Streetbeat News

Revenues

FCEL

HAS

JCI

LCID

ORCL

QQQ

SPY

U.S. stock futures, including Nasdaq and S&P 500, are up ahead of the November consumer price inflation report. A softer inflation reading could prompt a rally if it aligns with expectations for a less hawkish Federal Reserve. Despite positive market performance on Monday, corporate updates have been negative, potentially affecting sector stocks. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw premarket gains. Lucid Group (LCID) dropped after its CFO's resignation, Oracle (ORCL) slumped following quarterly results, and Hasbro (HAS) declined after announcing job cuts. FuelCell Energy (FCEL) and Johnson Controls (JCI) are set to report earnings.

Portfolio Pulse from Shanthi Rexaline

December 12, 2023 | 12:25 pm

CCCC

MRK

C4 Therapeutics (CCCC) has entered into a license and research collaboration with Merck (MRK) to develop degrader-antibody conjugates. C4T will receive an upfront payment of $10 million and is eligible for milestone payments that could total up to $600 million.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:03 pm

CJET

DLA

FSR

MNSO

YUMC

The article highlights the top 5 oversold consumer discretionary stocks with an RSI near or below 30, suggesting potential undervaluation. Chijet Motor Company (CJET) reported a significant revenue drop and its stock fell 39% over five days. Yum China Holdings (YUMC) missed revenue consensus, with a 10% stock decline over a month. MINISO Group (MNSO) reported strong revenue growth but experienced a 25% stock decrease over a month. Delta Apparel (DLA) posted downbeat sales and a 21% stock loss over five days. Fisker Inc. (FSR) announced new hires but saw a 63% stock fall over a month.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 11:46 am

FXI

China is accelerating the development of a new real estate model, aiming to balance local debt risks and ensure stable growth, as reported by Reuters citing state media.

Portfolio Pulse from Charles Gross

December 12, 2023 | 11:26 am

DIS

NFLX

Insider Intelligence forecasts that Netflix will surpass Disney+ in U.S. advertising revenue by 2024, driven by Netflix's upcoming price increases and measures to curb password sharing.

Portfolio Pulse from Charles Gross

December 12, 2023 | 11:05 am

CNC

Centene Corporation projects its FY24 premium and service revenues to be between $132 billion and $135 billion, with a health benefits ratio (HBR) of 87.3% to 87.9%.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 11:05 am

CNC

Centene Corporation projects its FY24 revenues to be between $142.5 billion and $145.5 billion, surpassing the consensus estimate of $142.01 billion.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 11:03 am

GOOG

GOOGL

META

SNAP

A Pew Research Center survey found that YouTube and TikTok are the most popular social media platforms among U.S. teens, with Snapchat, Instagram, and Facebook following. Facebook and Twitter (now X) have seen a significant decline in teen usage over the past decade. The survey, conducted from Sept. 26 to Oct. 23 with 1,453 teens, also touched on concerns about TikTok's Chinese ownership and potential political content influence.

Portfolio Pulse from Ananya Gairola

December 12, 2023 | 10:50 am

AAPL

AMZN

SPOT

Apple Inc. (AAPL) is reportedly planning to increase royalty payouts to artists and labels using its spatial audio technology, which is mixed with Dolby Atmos. This incentive is designed to encourage the adoption of the technology and could lead to increased sales of Apple's Atmos-supported hardware. Amazon Music (AMZN) also offers spatial audio at no extra cost, while Spotify (SPOT) does not provide this format. Apple's move aligns with the trend of offering high-quality streaming music without additional fees, initiated by Apple and Amazon in May 2021.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 10:27 am

GEHI

Gravitas Education Holdings, Inc. (GEHI) announced a merger with Elmtree Inc., resulting in a rebranding to Mynd.ai, Inc. and a ticker change to MYND on the NYSE American. The merger is set to be effective at 3:00 A.M. Eastern Time on December 13, 2023. Concurrently, an affiliate of Ascendent Rainbow will purchase $65 million of secured convertible notes from the company. Additionally, NetDragon Websoft Holdings Limited's subsidiary ND BVI acquired 30% of GEHI's shares from the Founding Shareholders for $15 million. GEHI also completed the divestiture of its China education business for $15 million.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 10:02 am