Streetbeat News

Revenues

MCD

During McDonald's Investor Day, an executive reported that the company is experiencing business impacts in several Middle Eastern markets and a few markets outside the region due to ongoing conflict.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 8:30 pm

CMLS

Dan Bongino has renewed his contract with Cumulus Media's Westwood One to continue hosting his syndicated radio program and podcasts, including 'The Dan Bongino Show'. The radio show, launched in May 2021, now has 356 affiliates and airs in nine of the top 10 US markets. The podcast is a top performer with over 200 million downloads this year and 350 million on Rumble. Cumulus Podcast Network handles distribution, marketing, and monetization of the show. The renewal comes ahead of an unpredictable election cycle, with expectations of continued listener engagement and advertiser interest.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 8:17 pm

LVS

The article discusses the robust spending by consumers and the government, highlighting the increase in holiday sales and the upward revision of the 3Q GDP growth from 4.9% to 5.2%. It questions the accuracy of government statistics and suggests that government overspending is inflating GDP figures. The article also notes the decline in the Personal Consumption Expenditures Index, hinting at a potential end to inflation. Additionally, it covers Miriam Adelson's sale of $2B of Las Vegas Sands stock to purchase a stake in the Dallas Mavericks, which temporarily impacted LVS stock.

Portfolio Pulse from Gary Brode

December 06, 2023 | 8:15 pm

HOOD

Robinhood Markets' stock (HOOD) is trading higher following the company's release of positive monthly customer metrics for November 2023.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:57 pm

AAL

ALK

DAL

ERJ

JETS

LUV

SNCY

ULCC

Airline stocks have entered a bull market phase, with the U.S. Global Jets ETF (JETS) surging over 20% since early November. Despite a mid-July dip due to rising oil prices and economic slowdown fears, the sector shows a 40% discount from pre-pandemic levels, indicating room for growth. Hawaiian Holdings (HA) led the rally with a 220% increase after Alaska Air Group's (ALK) takeover. Other contributors include Southwest Airlines (LUV), Delta Air Lines (DAL), American Airlines (AAL), Sun Country Airlines (SNCY), Frontier Group Holdings (ULCC), and Embraer (ERJ). The International Air Travel Association (IATA) forecasts a positive outlook for 2024, with strong demand and revenue growth, although profitability challenges persist.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 7:54 pm

CMCSA

Comcast Corp (NASDAQ:CMCSA) is increasing prices for its cable TV, internet, and phone services. TV packages will cost about $6 more per month, while Broadcast TV and Regional Sports fees will increase by $4 and $1 respectively. Premium channel bundles will also see a $2 to $4 hike. Peacock, owned by Comcast's NBCUniversal, has reached 30 million subscribers with an ARPU of $10. Internet services will rise by an average of $4, and telephone services by $5 monthly. The total bill for a customer with TV, internet, and phone services could go up by $20 monthly. These changes are set to take effect on December 18, 2023. The price hike is attributed to the rising costs of content from cable networks. CMCSA's stock was up 0.56% at $41.85.

Portfolio Pulse from Anusuya Lahiri

December 06, 2023 | 7:10 pm

META

ByteDance Ltd, the parent company of TikTok, is offering a share buyback of up to $5 billion at $160 per share, which is 11% lower than the previous year's rate. Despite setbacks including regulatory challenges and market bans, ByteDance remains among the top 40 most valuable global companies and saw a 30% revenue increase in 2022, reaching over $80 billion. Meta Platforms Inc (NASDAQ:META) is mentioned as a rival to TikTok.

Portfolio Pulse from Anusuya Lahiri

December 06, 2023 | 7:04 pm

CCL

CPB

HOOD

LCID

MDB

TLT

XLE

Stocks showed little movement while gold and Treasuries rose amid mixed sentiments due to weak ADP employment data. Investors are considering the implications for interest rates and corporate earnings. Oil prices fell, pressuring energy stocks like XLE. TLT gained on safe-haven demand. Citigroup announced a share buyback, boosting its stock, while Altria and Philip Morris were hit by British American Tobacco's brand devaluation. Lucid plans to lower prices, Campbell Soup reported strong earnings, and Carnival saw gains with travel optimism. Brown Forman and MongoDB fell on results, while SentinelOne and Robinhood rose.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 7:04 pm

BMY

Bristol Myers Squibb's Abecma, a CAR T cell immunotherapy, has been approved in Japan for use in earlier lines of therapy for patients with relapsed or refractory multiple myeloma (RRMM) who have received at least two prior therapies. This makes Abecma the first CAR T therapy approved for such use in Japan. The approval is based on the KarMMa-3 study, which showed Abecma significantly increased median progression-free survival compared to standard regimens. The results will be presented at the American Society of Hematology Annual Meeting in San Diego.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:56 pm

HOOD

Bitcoin has surpassed $44,000 for the first time since April 2022, positively impacting Robinhood Markets Inc (HOOD). Robinhood CEO Vlad Tenev highlighted the company's role in the crypto industry on CNBC's 'Squawk Box.' He attributed the crypto surge to factors like institutional interest, optimism for a Bitcoin ETF, a potential end to the Fed's rate hikes, and Bitcoin's appeal as an inflation hedge. Robinhood has seen a 75% increase in crypto trading volumes and $1.4 billion in net deposits last month. Tenev also discussed the alignment of crypto's technology with Robinhood's mission to democratize finance. Robinhood's stock rose 8.64% to $11.44 following the news.

Portfolio Pulse from Adam Eckert

December 06, 2023 | 6:11 pm