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AAPL

ALK

An iPhone, likely an iPhone 14 Pro or iPhone 15 series model, survived a 16,000-feet drop from an Alaska Air Group, Inc. flight. The phone was found intact on the side of a road, still in airplane mode with half a battery and a baggage receipt for the flight displayed. This incident highlights the durability of Apple's iPhones, which have previously survived extreme conditions, such as a three-month submersion in a river. Apple has been known to improve the durability of its devices, as seen with the iPhone 15 Pro's use of Grade 5 titanium alloy.

Portfolio Pulse from Rounak Jain

January 08, 2024 | 7:58 am

LGEIY

ROKU

LG Electronics Inc (OTC:LGEIY) has introduced the LG Signature OLED T, a transparent OLED TV, at CES 2024, with plans to release it in the second half of 2024. The innovative TV features a transparent OLED panel and a retractable 'contrast screen' for a traditional picture. The announcement comes as LG faces increased competition in the TV market, particularly from Roku Inc. (NASDAQ:ROKU), which recently entered the high-end TV market. LG Display saw a 17% revenue decline in Q4 2023 due to macroeconomic conditions.

Portfolio Pulse from Benzinga Neuro

January 08, 2024 | 7:44 am

AUDA

Audacy Inc (OTC:AUDA), a radio and podcast company, has filed for Chapter 11 bankruptcy due to a significant drop in advertising revenues. The company plans to reduce its $1.9 billion debt by approximately 80%, leaving it with $350 million. The restructuring plan has been approved by most creditors, and Audacy will continue operations during the bankruptcy process. Its stock, now traded over the counter, has fallen 97% over the past year.

Portfolio Pulse from Benzinga Neuro

January 08, 2024 | 7:07 am

ARBK

Seif El-Bakly has stepped down as COO of Argo Blockchain, with Sebastien Chalus to continue overseeing operations. Argo issued 1,973,892 new shares for El-Bakly's vested PSUs, which will be admitted to trading on the London Stock Exchange on January 11, 2024.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 7:06 am

ATK

AVAV

BAESY

VSAT

China has announced sanctions against five U.S. military manufacturers in retaliation for U.S. arms sales to Taiwan. The sanctioned companies are BAE Systems Land and Armaments, Alliant Techsystems Operations, AeroVironment, Viasat, and Data Link Solutions. The sanctions will freeze their assets in China and prohibit transactions with them. This move adds to the tensions between the U.S. and China over Taiwan, especially ahead of Taiwan's elections on Jan. 13.

Portfolio Pulse from Benzinga Neuro

January 08, 2024 | 6:54 am

IDCBY

UBS

UBS Group AG (NYSE:UBS) is determined to expand its wealth and asset management operations in China despite economic challenges and global tensions. Eugene Qian, UBS's China head, emphasized the importance of the Chinese market and the bank's plans to grow its onshore platforms. UBS did not integrate Credit Suisse's wealth management team in China after their merger. UBS has also signed a memorandum of understanding with the Industrial And Commercial Bank Of China Ltd (OTC:IDCBY) to serve clients and strengthen its presence in China, which is part of a long-term strategy.

Portfolio Pulse from Benzinga Neuro

January 08, 2024 | 6:21 am

ETHUSD

SOLUSD

Solana's native token, SOL, has dropped by 12% in the past 24 hours, interrupting its recent rally. The decline follows a peak in price and transaction volume due to airdrops of new tokens like JITO and BONK, which also led to the sell-out of Solana's Saga phone. However, post-airdrop, tokens JITO, WIF, and BONK saw significant price drops. Solana's TVL in SOL also decreased by 17%. Max Keiser commented on the situation, suggesting a 'rug pull' has begun, while analyst Pentoshi expects SOL could drop to the $70s but remains optimistic about holding ecosystem coins.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 6:06 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced declines as the market anticipates the decision on the U.S.'s first spot BTC ETF. Bloomberg's Eric Balchunas expects approvals for ETF applicants who met the SEC's requirements. The crypto market cap fell by 4.80%, while U.S. stock futures were mixed. Congressional leaders reached a deal to avoid a government shutdown. Analysts predict a bull cycle for Bitcoin if the ETF is approved, with significant liquidity inflows and potential for a 10x price increase.

Portfolio Pulse from Mehab Qureshi

January 08, 2024 | 3:19 am

AAPL

Apple Inc. (AAPL) has postponed the launch of its second-generation AirTag to 2025 due to an excess inventory of the original AirTags. The decision reflects the lack of urgency to release a new version as the current AirTags are still effective and face little competition. The AirTag 2 is expected to include an upgraded wireless chip for better communication. Meanwhile, Apple faces a class action lawsuit over concerns that AirTags are being used for stalking, despite the company's efforts to implement an alert system for tracking.

Portfolio Pulse from Ananya Gairola

January 08, 2024 | 2:06 am

TSLA

Elon Musk refuted allegations of drug use reported by the Wall Street Journal, citing three years of clean random drug tests requested by NASA. The report had raised concerns among Tesla executives, with former director Linda Johnson Rice not seeking re-election to the board due to worries about Musk's substance use and behavior. Despite the controversy, Musk's leadership continues to drive progress at Tesla and SpaceX.

Portfolio Pulse from Benzinga Neuro

January 08, 2024 | 1:27 am