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The cryptocurrency market saw a downturn with $116M in liquidations, affecting Bitcoin, Ethereum, and Dogecoin. Genesis blocked DCG from selling its ownership during bankruptcy proceedings. The S&P 500 and Nasdaq showed gains, with the latter closing above 15,000 for the first time since January 2022. Analyst Michael Van de Poppe predicts Bitcoin will stay in the $38-48K range for 3-6 months, while Jon Najarian suggests a potential Bitcoin ETF approval could lead to a 30% surge in its value. Wallets holding 1 or less BTC have accumulated the most coins ever since November.

Portfolio Pulse from Mehab Qureshi

December 20, 2023 | 3:09 am

AFRM

DWAC

FDX

NIO

TSLA

U.S. indices traded positively with the Dow Jones, S&P 500, and Nasdaq all seeing gains. Digital World Acquisition Corp. (DWAC) remained unchanged amid political developments. FedEx (FDX) dropped post weaker-than-expected Q2 results. Affirm Holdings (AFRM) surged due to expanded services at Walmart. NIO Inc. (NIO) rose after a $2.2 billion investment, indicating growth in the EV market. Tesla (TSLA) increased with predictions of a strong year and a new affordable car model.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 2:31 am

AAPL

MASI

The Biden administration is closely monitoring a potential ban on Apple Inc.'s (AAPL) Watch sales due to a patent infringement dispute with Masimo Corp (MASI). The International Trade Commission found that Apple Watch models infringed on Masimo's patents related to blood oxygen sensing. U.S. Trade Representative Katherine Tai is considering the case, with a decision due by December 25. Despite the potential ban, JPMorgan analysts believe the impact on Apple's revenue may be minimal.

Portfolio Pulse from Ananya Gairola

December 20, 2023 | 1:39 am

AMC

CNK

DIS

A projection for the global box office in 2024 forecasts a 5% decline from 2023, potentially impacting movie theater operators like AMC and Cinemark. The Hollywood Strike has caused production delays, affecting the number of movies released. Despite record-breaking films in 2023, Disney struggled without a $1 billion hit. Concert films may boost AMC's Q4 results. China's box office is expected to grow, but North America's could drop 11%. The decline is attributed to reduced production, not waning interest in cinema. The impact of the strike is expected to be felt in 2024, with a recovery possible in 2025.

Portfolio Pulse from Chris Katje

December 20, 2023 | 12:12 am

GBTC

Grayscale Investments CEO Michael Sonnenshein discussed the potential impact of a spot Bitcoin ETF on the crypto market, suggesting it could unlock $30 trillion in advised wealth. He emphasized the benefits for institutional adoption and smooth participation in the crypto market. Crypto analyst MDBitcoin and The Bitcoin Therapist also commented on the potential for significant market growth if a small percentage of the $30 trillion is invested in Bitcoin. Bitcoin's price has seen a recent surge, with a 1.3% increase in the past 24 hours and a 14.5% gain over the past 30 days.

Portfolio Pulse from Khyathi Dalal

December 19, 2023 | 11:59 pm

PACB

Pacific Biosciences of California Inc (NASDAQ:PACB) stock has seen an uptrend due to significant analyst upgrades. After a prolonged downtrend, the stock began to recover in early November. UBS analyst John Sourbeer upgraded the stock from Neutral to Buy, albeit with a reduced price target from $13 to $10. Stephens & Co. analyst Mason Carrico initiated coverage with an Overweight rating and a price target of $11, citing the potential of the company's Revio sequencer. Improved market sentiment has also contributed to the stock's recent gains. PACB shares closed up 10.6% at $10.16 on Tuesday.

Portfolio Pulse from Ryan Gustafson

December 19, 2023 | 10:52 pm

AAPL

Apple Inc. (AAPL) has halted sales of the Apple Watch Series 9 and Apple Watch Ultra 2 in the U.S. due to a patent infringement ruling by the ITC favoring Masimo. Despite this, JPMorgan analysts believe the impact on Apple's revenue will be minimal, potentially affecting only 1% of total revenue. Apple intends to appeal the decision and has requested the Biden administration to review it. Apple's stock price saw a slight increase following the news, and JPMorgan maintains an Overweight rating with a price target of $225.

Portfolio Pulse from Piero Cingari

December 19, 2023 | 10:38 pm

LTHM

NCR

VOYA

Livent Corporation (LTHM) is set to join the S&P MidCap 400 index, taking the place of NCR Corporation (NCR), which will be removed from the index. This change is due to the acquisition of NCR by an affiliate of Veritas Capital, which will result in NCR becoming a private company. The S&P MidCap 400 index will also see the addition of Voya Financial, Inc. (VOYA), which will be replacing Livent in the S&P SmallCap 600 index.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:33 pm

SIEB

Siebert Financial and Kakaopay have mutually agreed to terminate the second tranche stock purchase agreement they entered into on April 27, 2023. No reasons for the termination were provided in the news article.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:32 pm

SHOP

SOL

Solana (CRYPTO: SOL) has seen a 500% increase year-to-date in 2023, outperforming Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH). The interest in Solana has been fueled by airdrops, meme coins, and partnerships with Visa Inc (NYSE:V) and Shopify (NYSE:SHOP). Sam Bankman-Fried's historical tweet offering to buy SOL at $3 highlighted a significant investment opportunity. A $1,000 investment in Solana at the time of his tweet could be worth $20,114.46 today, a 1,911.4% return. Solana's momentum continues as it becomes the sixth largest cryptocurrency by market capitalization.

Portfolio Pulse from Chris Katje

December 19, 2023 | 10:24 pm