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JCI

Vertical Research analyst Jeffrey Sprague has downgraded Johnson Controls Intl (NYSE:JCI) from Buy to Hold and set a price target of $55.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:30 am

MFA

Keefe, Bruyette & Woods analyst Bose George upgraded MFA Financial (NYSE:MFA) from Market Perform to Outperform and set a price target of $12.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:17 am

CCCC

Stifel analyst Bradley Canino has upgraded C4 Therapeutics (NASDAQ:CCCC) from Hold to Buy and increased the price target from $2 to $12, indicating a positive outlook for the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:16 am

OPEN

Keefe, Bruyette & Woods analyst Will Jones has upgraded Opendoor Technologies (OPEN) from Underperform to Market Perform and increased the price target from $1.65 to $3.5.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 9:09 am

GM

RIVN

TSLA

General Motors Co. (GM) has dropped Apple CarPlay and Android Auto from its vehicles, citing safety concerns. GM's Infotainment Product Head, Tim Babbitt, stated that the unpredictability of these systems could lead to driver distraction. GM plans to introduce its own 'Ultifi' infotainment software with integrated Google applications in the 2024 Chevy Blazer EV. Other EV makers like Tesla Inc (TSLA) and Rivian Automotive Inc (RIVN) also use proprietary in-house systems.

Portfolio Pulse from Anan Ashraf

December 13, 2023 | 9:01 am

ABM

ADBE

JCI

ORCL

REVG

Investor sentiment improved as the Fear and Greed index remained in 'Greed' territory. U.S. stocks rose after November's inflation rate eased to 3.1%. Oracle reported strong Q2 earnings but missed sales estimates, while Johnson Controls had weak Q4 results. The Dow Jones, S&P 500, and Nasdaq closed higher. Earnings from ABM Industries, REV Group, and Adobe are anticipated. The Fed's policy decision is due Wednesday.

Portfolio Pulse from Avi Kapoor

December 13, 2023 | 7:25 am

NKLA

Prosecutors are seeking an 11-year prison sentence for Trevor Milton, the founder of Nikola Corp (NASDAQ:NKLA), after he was found guilty of fraud. Milton's sentencing is scheduled for Dec. 18, following a conviction on charges of wire fraud and securities fraud related to misleading investor statements about the company's technology. Milton's lawyers argue for probation, citing no malicious intent and distinguishing Nikola from the Theranos case. Nikola's market cap has significantly decreased from its peak in June 2020.

Portfolio Pulse from Anan Ashraf

December 13, 2023 | 7:07 am

VERX

Vertex (VERX) has proposed to acquire e-invoicing company Pagero for $555 million to enhance its global tax compliance leadership. The offer includes a significant premium over Pagero's recent share prices and is financed in part by a strategic investment from Silver Lake. The acquisition aims to create a comprehensive global platform for customers to improve efficiency and comply with new mandates. The offer period is set to start around December 15, 2023, and end on January 23, 2024, with settlement expected around February 1, 2024, subject to regulatory approvals and tender of over 90% of Pagero's shares.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 7:01 am

NEGG

Newegg Commerce has regained compliance with Nasdaq's minimum bid price requirement. The company's stock had previously fallen below the $1.00 minimum bid price per share, which is a requirement for continued listing on the Nasdaq Stock Market. Newegg's stock price has since recovered, satisfying the Nasdaq's requirement and ensuring the company's continued listing on the exchange.

Portfolio Pulse from Benzinga Newsdesk

December 13, 2023 | 6:39 am

F

TSLA

Ford CEO Jim Farley clarified that a video showing a Ford Super Duty truck rescuing a Tesla Cybertruck from snow was not a staged advertisement but a real event. The video has sparked discussions among truck enthusiasts, with some defending the Cybertruck by suggesting it was a prototype and that any truck could get stuck in similar conditions without chains. Farley has previously criticized the Cybertruck but also expressed interest in collaborating with Tesla on 48-volt EV architecture, which is used in the Cybertruck and is part of Ford's future vehicle plans.

Portfolio Pulse from Anan Ashraf

December 13, 2023 | 6:16 am