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BB

BlackBerry Limited (NYSE:BB) has appointed John J. Giamatteo as its new CEO and announced the full separation of its IoT and Cybersecurity business units. The company has decided against pursuing a subsidiary IPO for its IoT business. This announcement precedes BlackBerry's third-quarter earnings report, expected to show quarterly losses and revenue of $172.36 million. BB shares closed down slightly at $4.10.

Portfolio Pulse from Ryan Gustafson

December 11, 2023 | 9:48 pm

AAPL

Apple Inc. has introduced a new 'Journal' app with the latest iOS 17.2 update, which allows users to create digital diaries using photos, videos, and audio. The app features machine learning, tailored prompts, and robust security with end-to-end encryption. Apple's stock saw a 1.4% decline on Monday, trading 2.7 percentage points below its all-time high.

Portfolio Pulse from Piero Cingari

December 11, 2023 | 9:42 pm

ADAUSD

BTCUSD

ETHUSD

Cardano (ADA) experienced a significant 8% decline, outpacing Bitcoin (BTC) and Ethereum (ETH) which both fell over 6%. ADA's open interest dropped by 14%, indicating a market outflow. Analyst Ali Martinez signaled a potential short-term correction for ADA. The Cardano community celebrated Ada Lovelace's 208th birthday, and the Cardano Foundation launched a self-sovereign Identity Wallet. Charles Hoskinson's post about his dog Freya inadvertently caused a rally in the Freya NFT project, which he later clarified he was not endorsing.

Portfolio Pulse from Khyathi Dalal

December 11, 2023 | 9:42 pm

RCI

Rogers Communications Inc. has disclosed a private sale of its shares in Cogeco, which will reduce its debt leverage ratio by an additional 0.1X. This move is part of Rogers' efforts to improve its financial position by lowering debt.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:41 pm

ORCL

Oracle Corporation (NYSE:ORCL) reported Q2 earnings of $1.34 per share, beating estimates by $0.02, but missed revenue expectations with $12.94 billion against the forecasted $13.05 billion. Despite the revenue shortfall, Oracle highlighted a 25% increase in cloud revenue, with cloud infrastructure up 52% and cloud application revenue up 15%. The company's operating cash flow over the last twelve months was $17 billion, and free cash flow was $10.1 billion. CEO Safra Catz emphasized the growing demand for Cloud Infrastructure and Generative AI services, with Remaining Performance Obligations over $65 billion. After the report, ORCL shares dropped 8.91% in after-hours trading to $104.83.

Portfolio Pulse from Ryan Gustafson

December 11, 2023 | 9:40 pm

EGLE

SBLK

Eagle Bulk Shipping Inc. shareholders are set to receive 2.6211 shares of Star Bulk Carriers Corp. common stock for each share of Eagle they own. The deal values Eagle shares at $52.60 each, a 17% premium over the closing price on December 8, 2023. Post-transaction, Star Bulk and Eagle shareholders will own about 71% and 29% of the merged entity, respectively.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:36 pm

INAB

IN8bio's stock price has risen following the announcement of positive updated data from its Phase 1 trial of INB-100 for hematologic malignancies.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:35 pm

HIHO

Highway Holdings (HIHO) shares are up following the announcement of a non-binding letter of intent to acquire a majority stake in Synova Metall- und Kunststofftechnik GmbH.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:33 pm

EGLE

SBLK

Star Bulk Carriers Corp. and Eagle Bulk Shipping Inc. have announced a merger agreement. Under the terms, Eagle Bulk Shipping shareholders will receive 2.6211 shares of Star Bulk common stock for each share they hold. This strategic move will combine two major players in the bulk shipping industry.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:32 pm

ARMK

Aramark's CFO Tom Ondrof is set to retire on January 12, 2024, and will serve as a strategic advisor until May 2024. Jim Tarangelo will take over as CFO starting January 13. Despite the transition, the company maintains a positive outlook for the fiscal year.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 9:32 pm