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Stock Prices

SPY

The S&P 500 has recovered from its 2022 downturn and is expected to end the year positively. Analysts have revised their 2023 forecasts upwards, with the most bullish prediction from Fund Strat's Tom Lee at 4,825. For 2024, forecasts are mixed, with JPMorgan being the most pessimistic at 4,200 and Capital Economics the most bullish at 5,500. The recent rally is attributed to expectations of Fed rate cuts. The SPDR S&P 500 ETF Trust (SPY) reflects this optimism, closing up 0.59% at $459.10.

Portfolio Pulse from Shanthi Rexaline

December 03, 2023 | 8:40 pm

ALK

HA

Alaska Air (NYSE:ALK) plans to acquire Hawaiian Airlines (NASDAQ:HA) for $1.9 billion, retaining both brands and aiming to enhance customer options and competition against major airlines. The CEOs of both companies are optimistic about the deal's benefits for investments and market competition.

Portfolio Pulse from Benzinga Neuro

December 03, 2023 | 8:13 pm

ALK

HA

Alaska Air Group has announced its intention to acquire Hawaiian Airlines for $18 per share in an all-cash transaction. This acquisition is expected to have significant implications for both companies involved.

Portfolio Pulse from Benzinga Newsdesk

December 03, 2023 | 7:15 pm

BTCUSD

Crypto analyst Dave the Wave predicts Bitcoin could surpass $200,000 by December 2025, based on the MACD indicator's bullish signal on the monthly chart. He suggests widespread expectations could lead to an earlier achievement of this target. Bitcoin has been in the LGC 'buy zone' for 18 months, hinting at a potential breakout. Bitcoin's recent price increase to $39,589.44, with a 7% rise over the last week, is partly due to optimism about a potential spot Bitcoin ETF approval by the SEC.

Portfolio Pulse from Bibhu Pattnaik

December 03, 2023 | 7:02 pm

AFJKU

DOCO

Docola, Inc (NASDAQ:DOCO) and Aimei Health Technology Co (NASDAQ:AFJKU) are set to go public this week with their IPOs. Docola is offering 1,061,000 shares at $6.25 each, while Aimei Health Technology is offering 6,000,000 shares at $10.00 each. Both companies have a 180-day lockup period for insiders.

Portfolio Pulse from Benzinga Insights

December 03, 2023 | 5:17 pm

BTCUSD

ETHUSD

Bitcoin and Ethereum experienced significant gains over the weekend, with Bitcoin nearing the $40,000 mark and Ethereum also rising. The momentum is partly driven by expectations of a spot Bitcoin ETF receiving regulatory approval and speculation about rate cuts by the Fed, which could lead to increased investment in cryptocurrencies.

Portfolio Pulse from Shanthi Rexaline

December 03, 2023 | 4:17 pm

TSLA

Tesla's Cybertruck has received mixed reviews, with Canaccord Genuity analyst George Gianarikas acknowledging its performance but noting polarized opinions. Rivian is highlighted as having an 'incredibly compelling' product. The Cybertruck's economics are uncertain, but it may become gross-margin positive over time. Tesla's stock fell after the Cybertruck's release, with concerns over its high pricing.

Portfolio Pulse from Shanthi Rexaline

December 03, 2023 | 3:51 pm

F

GM

TSLA

Chinese EVs are gaining global popularity but face significant trade barriers in the U.S. due to a 25% tariff and exclusion from 'Buy America' credits. Despite this, China's automotive industry is growing, with BYD outproducing Tesla last year. U.S. lawmakers advocate for more tariffs, while U.S. automakers like Ford and GM are wary of potential Chinese retaliation. Chinese firms plan to assemble EVs in or near the U.S. to avoid tariffs, with Polestar starting production in South Carolina next year.

Portfolio Pulse from Bibhu Pattnaik

December 03, 2023 | 2:59 pm

AAPL

GS

Apple Inc. (AAPL) is reportedly ending its credit card partnership with Goldman Sachs Group (GS) within 12-15 months. Apple faced security issues with an Apple ID hack affecting iCloud access. The company is also developing a budget-friendly version of its Vision Pro headset, aiming to cut production costs by 50%. A YouTuber built a discount Vision Pro, challenging the value of Apple's version. Apple celebrated 'Artist of the Year' Taylor Swift with a free event in NYC.

Portfolio Pulse from Benzinga Neuro

December 03, 2023 | 10:44 am

DASH

GRUB

UBER

A New York state appeals court has ruled that food delivery companies Uber Technologies Inc. (UBER), DoorDash Inc. (DASH), and Grubhub Inc. (GRUB) must pay their workers a minimum hourly wage of $17.96. The court rejected the companies' attempts to overturn a previous ruling, enforcing the minimum pay rule. The companies expressed disappointment and are considering further actions. Following the news, UBER's stock dropped by 2%, DASH by 1.5%, and GRUB by 1.8%.

Portfolio Pulse from Benzinga Neuro

December 03, 2023 | 4:54 am