Streetbeat News

Stock Prices

BOTZ

OpenAI CEO Sam Altman has expressed a new perspective on interest rates in the context of abundant innovation, questioning what will happen to rates when there are more and better ideas than ever. Hedge fund Lumida Wealth and venture capital firm Aleph responded, suggesting higher rates could lead to better allocation of talent and innovation. Interest rates have fluctuated over the years, with the Fed recently initiating an aggressive rate-hike cycle. Cathie Wood of Ark Investment Management highlighted the potential for disruptive innovations to significantly boost global productivity and GDP growth. The Global X Robotics & Artificial Intelligence ETF (BOTZ) experienced a slight increase.

Portfolio Pulse from Shanthi Rexaline

December 27, 2023 | 9:21 am

ACNT

BLIN

CHRS

PROC

TOMZ

Coherus BioSciences, Inc. (CHRS) received FDA approval for UDENYCA ONBODY, causing its shares to jump 37.2% after hours. Bridgeline Digital, Inc. (BLIN) is expected to post a quarterly loss, with a slight gain in after-hours trading. Ascent Industries Co. (ACNT) sold Specialty Pipe & Tube for $55 million, leading to a 7.4% share increase after hours. Procaps Group S.A. (PROC) reported strong Q3 results and provided positive full-year guidance, resulting in a 1.3% share gain after hours. TOMI Environmental Solutions Inc (TOMZ) filed for a shelf offering, with shares dropping 3.4% after hours.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 9:17 am

LEJU

Leju Holdings Limited (NYSE:LEJU), a Chinese e-commerce and online media platform for real estate and home furnishing, has received a non-compliance letter from the NYSE. The letter indicates that Leju is below the NYSE's compliance standards because of its low total market capitalization and stockholders' equity.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 9:02 am

MSFT

Microsoft Corporation (NASDAQ:MSFT) has launched a standalone AI-driven Copilot app for Android, featuring ChatGPT-like capabilities, DALL-E 3 image creation, and access to OpenAI's GPT-4 model. The app is available on the Google Play Store. This move follows Microsoft's rebranding of Bing Chat to Copilot and the expansion of Copilot to all Windows users. The Copilot app signifies Microsoft's ongoing commitment to AI integration in its products, with an iOS version expected soon.

Portfolio Pulse from Ananya Gairola

December 27, 2023 | 9:01 am

AZN

BLIN

GRCL

RYZB

U.S. stocks closed higher with the Dow Jones rising over 150 points and the S&P 500 nearing record levels. Investor sentiment improved as indicated by the CNN Money Fear and Greed index remaining in 'Extreme Greed' territory. RayzeBio shares soared after a buyout announcement by Bristol Myers Squibb, and Gracell Biotechnologies shares surged following an acquisition agreement with AstraZeneca. All sectors of the S&P 500 ended positively, led by energy, real estate, and industrials. Investors are looking forward to Bridgeline Digital's earnings results.

Portfolio Pulse from Avi Kapoor

December 27, 2023 | 8:28 am

AAPL

AMZN

BBY

TGT

Apple Inc.'s Series 9 and Ultra 2 watch models are banned from sale in the U.S. due to a patent violation ruling by the ITC. Despite this, third-party retailers like Best Buy, Target, AT&T, and Amazon are still selling the watches. Apple faces potential holiday sales losses of $300 million to $400 million but is fighting the ban with an emergency motion for a temporary suspension while appealing the decision. The ban's impact on Apple's sales and its efforts to overturn the decision highlight the significance of the ITC ruling and the ongoing legal battle with Masimo.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 8:12 am

AAPL

Gene Munster, an analyst from Deepwater Asset Management, believes that Apple Inc.'s iPhone will not be affected by rumors of the iPhone’s design executive, Tang Tan, joining a project with OpenAI CEO Sam Altman and former Apple design head Jony Ive. The project is speculated to be an AI hardware device unrelated to phones. Despite Ive's departure from Apple and his history with phone development, Munster sees no immediate or medium-term impact on the iPhone, which he expects to perform well for the next five plus years.

Portfolio Pulse from Shanthi Rexaline

December 27, 2023 | 7:56 am

SFBQF

TMUS

SoftBank Corp (OTC:SFBQF) is set to receive $7.6 billion worth of T-Mobile US Inc (NASDAQ:TMUS) shares, resulting from an agreement related to the Sprint and T-Mobile merger. This transaction doubles SoftBank's stake in T-Mobile US to 7.64%, significantly increasing its portfolio of listed assets and boosting its Tokyo-listed shares by 5%. Despite past investment setbacks, this deal improves SoftBank's internal rate of return on its Sprint investment to 25.5%.

Portfolio Pulse from Benzinga Neuro

December 27, 2023 | 7:37 am

STLA

TSLA

Ford Motor Co (NYSE:F) and Stellantis NV's Chrysler (NYSE:STLA) lead U.S. recalls in 2023, with Ford at 55 recalls for 5.9 million vehicles and Chrysler at 45 recalls for 2.7 million vehicles. Honda's American unit had 19 recalls affecting 6.3 million vehicles. Tesla Inc (NASDAQ:TSLA), despite 14 recalls affecting 2.6 million vehicles, did not rank in the top 12 for recalls. The high recall numbers for Ford and Chrysler are attributed to their longer history, diverse vehicle lineup, and larger fleet compared to Tesla.

Portfolio Pulse from Anan Ashraf

December 27, 2023 | 7:31 am

LATG

Chenghe Acquisition I Co. (formerly LatAmGrowth SPAC), trading as LATG on NASDAQ, has received a notice from Nasdaq for non-compliance due to delayed filings of its Form 10-Q for the periods ended June 30, 2023, and September 30, 2023. The company has 60 days to submit a compliance plan, with a possible extension of up to 180 days to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

December 27, 2023 | 7:16 am