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Stock Prices

BTCUSD

Cryptocurrency analyst Justin Bennett predicts a potential downturn for Bitcoin, suggesting it could drop to $38,000 if it fails to hold above $43,300. He notes a possible lower high forming and pressure on trend line support. Bennett also observes USDT dominance and total market cap resistance, indicating bearish trends. Bitcoin was trading at $42,356.13, down 4% over the past week.

Portfolio Pulse from Bibhu Pattnaik

December 16, 2023 | 9:00 pm

WBA

Walgreens Boots Alliance Inc. (NASDAQ:WBA) closed at $25.14, up 2.07%. The company has a market cap of $21.88 billion and a 52-week range of $19.68 to $41.31. WBA declared a quarterly dividend of $0.48 per share, totaling $1.92 annually with a yield of 9.21%. To earn $1,000 per month from dividends, an investment of $130,293 is needed, equating to 5,183 shares at the current price. Dividend yield can fluctuate with stock price changes and company dividend policies.

Portfolio Pulse from Shankar Iyer

December 16, 2023 | 9:00 pm

BABA

VWAGY

XPEV

Alibaba Group Holding Limited (NYSE:BABA) has reduced its stake in XPeng Inc. (NYSE:XPEV) from 10.2% to 7.5%, selling about 25 million American depositary receipts for approximately $391 million. This decision is part of Alibaba's strategy to reshape its investment strategy and manage capital. Despite the reduction, XPeng assures that Alibaba remains its second-largest shareholder and their strategic relationship continues, with ongoing collaborations in autonomous driving and in-car payment systems. Meanwhile, Volkswagen AG (OTC:VWAGY) has invested $700 million in XPeng for a 4.99% stake, aiming to co-develop EVs in China. Following the news, XPEV shares dropped by 7.54%, while BABA shares rose by 2.76%.

Portfolio Pulse from Nabaparna Bhattacharya

December 16, 2023 | 8:41 pm

MRK

MRNA

The FDA found quality control issues at Moderna's Massachusetts facility, including lapses in cleaning and use of expired materials. These issues were identified during a September inspection and involved the production of Moderna's COVID-19 vaccine and an experimental mRNA cancer vaccine. Moderna has taken immediate actions to address the FDA's findings. No recalls have been issued, and there's no evidence of harm to vaccine recipients. Moderna's shares saw a slight increase on Friday but dipped slightly after hours.

Portfolio Pulse from Nabaparna Bhattacharya

December 16, 2023 | 7:58 pm

WMT

Walmart Inc. (NYSE:WMT) stock is currently priced at $152.67, with a market cap of $411 billion. The stock's 52-week range is $136.09 to $169.94. Walmart has a dividend yield of 1.46% and has paid out $4.61 billion in dividends in the first nine months of 2023. To earn $1,000 per month from Walmart dividends, an investment of approximately $821,918 is required, equating to 5,384 shares. The article also explains how dividend yields are calculated and notes that yields can change with stock price fluctuations and dividend policy changes.

Portfolio Pulse from Shankar Iyer

December 16, 2023 | 7:00 pm

TSLA

Morgan Stanley analyst Adam Jonas expressed concerns about the future of the US auto industry, particularly for legacy automakers like General Motors Corp. (GM) and Ford Motor Co. (F) as they transition to electric vehicles (EVs). Jonas noted that the strong performance of the auto industry in recent years is unlikely to continue due to various macroeconomic factors. He suggested that GM and Ford need to reduce their capital expenditure and R&D spending, which have significantly increased since 2010, to adjust their strategies to the changing economic and competitive landscape. In contrast, Toyota Corp. (TM) has reduced its per unit spend. Jonas believes that modest changes in capex and R&D, along with a pivot in EV strategy, could yield strong rewards for shareholders.

Portfolio Pulse from Shanthi Rexaline

December 16, 2023 | 6:50 pm

BAC

BCS

Elon Musk has been reassuring bankers who financed his $44 billion acquisition of Twitter, now known as X, that they will not face financial losses despite a potential $2 billion hit. Banks like Bank of America, Barclays, and Morgan Stanley provided a $13 billion loan for the buyout. The banks may confront significant losses due to a decline in advertising revenue at X, partly caused by Musk's controversial comments, leading to advertisers withdrawing. There is concern that the banks might have to hold the depreciated debt on their books beyond 2024.

Portfolio Pulse from Bibhu Pattnaik

December 16, 2023 | 5:30 pm

HOOD

The Wall Street Journal reports that Robinhood is targeting wealthier clients, aiming to attract them from larger brokerages. This move is part of Robinhood's strategy to expand its customer base and increase revenue. The company is known for its commission-free trading platform, which has been popular among retail investors. By focusing on more affluent clients, Robinhood is looking to diversify its offerings and possibly introduce new services tailored to this demographic.

Portfolio Pulse from Charles Gross

December 16, 2023 | 5:28 pm

GOLD

Barrick Gold Corporation (NYSE:GOLD) has restarted operations at the Porgera mine in Papua New Guinea, sharing 49% of the project with Zijin Mining Group. The mine, under care since 2020 due to a dispute, is expected to produce 21 tonnes of gold annually over 20 years. Barrick's stock underperformed gold prices, with only 2.2% gains compared to gold's 11% rise. The company also faces challenges in Tanzania with allegations of forced evictions at the North Mara mine, which Barrick denies.

Portfolio Pulse from Stjepan Kalinic

December 16, 2023 | 4:23 pm

AMZN

MRNA

NOK

NVDA

ROKU

Barron's weekend stock picks include Nokia, Roku, Nvidia, Amazon, and Moderna. Nokia's stock was downgraded by Citi, citing reduced sales and labeling it a 'value trap.' Roku's stock fell after analysts downgraded it due to rapid rise concerns and competition. Nvidia is recommended as a buy for its AI focus and upcoming products, despite a high stock value. Amazon is seen as a smart investment for its revenue growth potential, especially in cloud services. Moderna's stock jumped on positive cancer treatment trial results, suggesting improved survival rates with their therapy combined with Merck's Keytruda.

Portfolio Pulse from Justin Chan

December 16, 2023 | 3:26 pm