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Stock Prices

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

XAIR

Beyond Air's Director, Robert Carey, disclosed the purchase of 1.2 million shares at an average price of $1.635 per share through a Form 4 filing on Tuesday.

Portfolio Pulse from Charles Gross

December 19, 2023 | 10:19 pm

SCS

Steelcase Inc. (NYSE:SCS) stock fell in after-hours trading following the release of their mixed Q3 financial results. While adjusted earnings per share of $0.30 exceeded analyst estimates of $0.23, revenue of $777.9 million fell short of the expected $796.425 million. The company saw a 6% decline in revenue compared to the previous year but reported a 15% increase in orders. Steelcase anticipates Q4 adjusted earnings per share to be between $0.19 and $0.23, with revenue projections of $765 million to $790 million, compared to an estimate of $789.05 million. The company's liquidity improved, reaching $424.6 million.

Portfolio Pulse from Ryan Gustafson

December 19, 2023 | 10:16 pm

RSP

The Invesco S&P 500 Equal Weight ETF (RSP) has experienced a significant rally, rising nearly 19% from a 52-week low of $133.34 to a 52-week high of $158.25 in just 33 trading days. This performance is notable as it is the fastest such rally since 1957, except for one instance in September 1982. The equal-weighted approach of RSP means that all companies in the S&P 500, regardless of size, have the same impact on the ETF's performance. This rally suggests a potential for a strong market move in 2024, following a 23% increase year-to-date after a nearly 20% drop in 2022.

Portfolio Pulse from Erica Kollmann

December 19, 2023 | 10:09 pm

ALT

DIA

EYPT

IWM

QQQ

SPY

The Russell 2000 index, tracked by the iShares Russell 2000 ETF (IWM), has hit a 16-month high, outperforming large-cap indices in December with an 11.4% surge. Over 80% of the small-cap stocks in the index are trading above their 50-day moving averages, indicating broad strength. In contrast, the SPDR S&P 500 ETF Trust (SPY), SPDR Dow Jones Industrial Average ETF (DIA), and Invesco QQQ Trust (QQQ) saw smaller gains. Top gainers in the Russell 2000 include EyePoint Pharmaceuticals (EYPT), Hawaiian Holdings (HA), Altimmune (ALT), 2seventy bio (TSVT), Aurora Innovation (AUR), Carvana (CVNA), Purple Innovation (PRPL), Marathon Digital Holdings (MARA), MBIA (MBI), and Century Therapeutics (IPSC).

Portfolio Pulse from Piero Cingari

December 19, 2023 | 10:05 pm

MMV

MultiMetaVerse (MMV) reported a total net revenue of $5.5 million for the half year, marking a 31% decrease compared to the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:05 pm

NHWK

Nighthawk Biosciences has filed for a mixed shelf offering allowing it to raise up to $200 million. Additionally, the company has filed an at-market offering prospectus for the potential sale of up to $4.04 million of its common stock over time, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 10:01 pm