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BABA

PDD

JD.com's founder Richard Liu acknowledges the need for significant changes within the company, responding to an employee's critique about issues like poor merchant support and high-priced items. JD.com's stock has dropped over 50% this year, while competitors like PDD Holdings have seen a 75% increase. Alibaba's Jack Ma also called for action, praising PDD's Temu. JD.com is attempting to regain market share with strategies such as discounts and lower prices. Despite revenue growth, JD.com missed consensus in Q3 FY23 and its stock has lost 56% year-to-date.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 12:25 pm

FCEL

HAS

JCI

LCID

ORCL

QQQ

SPY

U.S. stock futures, including Nasdaq and S&P 500, are up ahead of the November consumer price inflation report. A softer inflation reading could prompt a rally if it aligns with expectations for a less hawkish Federal Reserve. Despite positive market performance on Monday, corporate updates have been negative, potentially affecting sector stocks. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw premarket gains. Lucid Group (LCID) dropped after its CFO's resignation, Oracle (ORCL) slumped following quarterly results, and Hasbro (HAS) declined after announcing job cuts. FuelCell Energy (FCEL) and Johnson Controls (JCI) are set to report earnings.

Portfolio Pulse from Shanthi Rexaline

December 12, 2023 | 12:25 pm

BRK-A

BRK-B

DELL

HPQ

Warren Buffett's Berkshire Hathaway has reduced its stake in HP Inc by nearly half, from 97.85 million shares to 51.5 million shares. HP's shares have underperformed compared to Dell Technologies, with a year-to-date gain of 13.5% versus Dell's 72%. HP reported a Q4 net revenue decline of 6.5% year-over-year but beat the consensus revenue estimate. HP's stock is trading lower by 0.36% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

December 12, 2023 | 12:22 pm

EVER

Raymond James analyst Aaron Kessler has upgraded EverQuote (NASDAQ:EVER) from Market Perform to Outperform and set a price target of $13.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:21 pm

AAPL

Apple Inc. (NASDAQ:AAPL) has delayed the release of two iOS 17 features, AirPlay in Hotels and collaborative playlists for Apple Music, to 2024. These features were expected to launch in 2023 but were missing from the iOS 17.2 public release. The delay follows the recent launch of the 'Journal' app, suggesting Apple's focus on enhancing user experience with innovative features. The postponed features were first announced in June after WWDC and were set for a fall release.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 12:18 pm

LQDA

Liquidia has priced its public offering of 3.49 million shares at $7.16 per share, aiming to raise total gross proceeds of $25 million. The offering is anticipated to close on December 14, 2023, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:17 pm

SNY

Sanofi SA is terminating its licensing agreement with Maze Therapeutics for the Pompe disease drug MZE001 due to an FTC lawsuit aimed at blocking the deal over antitrust concerns. The FTC argues that the $755 million deal would maintain Sanofi's monopoly in the Pompe disease treatment market, as Sanofi is the sole FDA-approved supplier of such treatments. Maze's MZE001, an oral treatment, is seen as a potential competitor to Sanofi's intravenous infusions. Despite the termination, Sanofi's stock is up 1.06% in premarket trading.

Portfolio Pulse from Vandana Singh

December 12, 2023 | 12:14 pm

LSXMA

LSXMB

LSXMK

SIRI

Liberty Media and SiriusXM have announced definitive agreements to merge Liberty Media's Liberty SiriusXM tracking stock group (LSXMA, LSXMB, LSXMK) with SiriusXM, creating a new public company, New SiriusXM. The new entity will operate under the SiriusXM name and brand, with a single series of common stock, expected to trade on the Nasdaq Global Select Market under the ticker symbol 'SIRI'.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:07 pm

EPIX

ESSA Pharma (NASDAQ:EPIX) reported Q4 earnings with an EPS of $-0.12, beating estimates by 42.86% against an expected $-0.21. However, revenue was down $0 from the same period last year. In the previous quarter, ESSA Pharma's EPS beat led to a 0.36% drop in share price the following day.

Portfolio Pulse from Benzinga Insights

December 12, 2023 | 12:05 pm

MTBL

Moatable has received a non-compliance letter from the NYSE due to the trading price of its American Depositary Shares (ADS) falling below the required minimum. The company must address this issue to regain compliance and avoid potential delisting.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 12:04 pm