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Stock Prices

NFLX

DZ Bank analyst Markus Leistner has downgraded Netflix (NASDAQ:NFLX) from Buy to Hold and set a price target of $495.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:59 am

NIO

Nio Inc (NYSE:NIO) has achieved its year-end goal by launching its 1,000th Power Swap station, meeting its target of 1,000 new stations for the year. The milestone station was opened at the Sha'anxi Nature Museum in Xi'an. Nio's power swap technology allows EV owners to exchange depleted batteries for charged ones in about 3 minutes, contrasting with the traditional charging approach of other EV manufacturers like Tesla, Volkswagen, and General Motors. Nio has also recently partnered with Zhejiang Geely Holding Group and Chongqing Changan Automobile Co to enhance its battery swap business.

Portfolio Pulse from Anan Ashraf

December 22, 2023 | 9:54 am

PAYX

TD Cowen analyst Bryan Bergin has downgraded Paychex (NASDAQ:PAYX) from Outperform to Market Perform and reduced the price target from $132 to $123.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 9:25 am

BILI

NTES

TCEHY

China's top gaming regulator introduced new draft rules targeting online gaming, causing a significant market selloff. Tencent Holdings Ltd. (OTC:TCEHY) saw a $54 billion loss in market value, with its stock experiencing the largest intraday dip since 2008. Other companies like NetEase Inc. (NASDAQ:NTES) and Bilibili Inc. (NASDAQ:BILI) also faced substantial drops. The regulations include spending limits, bans on certain rewards, and content restrictions. This move is part of the Chinese government's broader campaign against the private sector's unchecked growth and is expected to impact gaming companies' revenue and monetization strategies.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 8:49 am

NTES

TCEHY

China's regulators have issued new rules to curb spending in online games, impacting major gaming companies Tencent Holdings and NetEase. The rules set spending limits, ban daily login rewards, first-time spending rewards, and consecutive spending rewards. Tencent's shares dropped by 16%, while NetEase's plunged by 25%. The regulations also require game approvals within 60 days and mandate that servers be located in China. The gaming industry, which shrank in 2021, saw a 13% revenue increase to 303 billion yuan in 2022.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 7:20 am

NCPL

Netcapital has priced a public offering of 16 million common shares and Series A warrants at $0.25 per share. The Series A-1 Warrants are exercisable at the same price and will expire in five years, pending stockholder approval. The offering is expected to close on December 27, 2023, subject to customary conditions.

Portfolio Pulse from Benzinga Newsdesk

December 22, 2023 | 7:06 am

TSLA

Franz von Holzhausen, Tesla's Chief Designer, emphasized that the Cybertruck's unique design is strategic for the brand and not an experiment. He mentioned that the design draws inspiration from the Lamborghini Countach and Lockheed's F-117 Stealth Fighter jet. Despite a price increase and safety concerns, the Cybertruck has attracted interest from a new demographic and celebrities, with deliveries starting sooner than expected. This indicates potential growth in Tesla's customer base and brand enhancement.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 6:17 am

DIS

TSLA

Walter Isaacson, biographer of Tesla CEO Elon Musk, commented on Musk's pervasive influence despite polarizing opinions. Isaacson appeared on CNBC's 'Squawk Box' discussing various topics, including Twitter's future and plagiarism in academia. He referenced a survey showing Warren Buffett as the only billionaire with a positive rating, while Musk scored zero, indicating a balance of supporters and detractors. Isaacson also mentioned John Oliver's critical segment on Musk, which acknowledged Musk's significant impact on society. Musk responded to Oliver's segment, criticizing his shift to 'wokeness'.

Portfolio Pulse from Ananya Gairola

December 22, 2023 | 5:32 am

F

GM

TSLA

Wedbush analyst Daniel Ives has reiterated an Outperform rating on Tesla (TSLA) and raised the price target from $310 to $350, based on expectations of electric vehicle share gains and margin stabilization in 2024. Ives predicts Tesla will regain its $1 trillion market cap in 2024. He commends Tesla's strategy, especially in China, and anticipates a record fourth-quarter volume there. Ives also sees potential in Tesla's full-self-driving package and Supercharger network, comparing Tesla's current position to Apple's in 2008/2009. Meanwhile, he notes a potential tempering in the EV transformation of General Motors (GM) and Ford (F), with rumors of Ford slashing its F-150 Lightning production from 2024.

Portfolio Pulse from Shanthi Rexaline

December 22, 2023 | 5:14 am

BA

Boeing Co. (NYSE:BA) has resumed direct deliveries of its 787 Dreamliner to China with the first delivery to Juneyao Airlines since November 2019. This event marks a significant step for Boeing, which has been working to ramp up production and deliveries of new jets, including the 737 Max, which deliveries to China were halted almost five years ago due to safety concerns. The resumption of deliveries follows Boeing's recent approval from China's aviation regulator to resume 737 MAX deliveries and a competitive deal with Thai Airways favoring the 787 over Airbus.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 5:13 am