Streetbeat News

Stock Prices

MSFT

Microsoft Corp (NASDAQ:MSFT) has entered into a union agreement with the Communications Workers of America, incorporating AI usage terms into its first U.S. collective bargaining contract. The contract covers staff at ZeniMax video game studio and includes Microsoft's six AI principles. The company must inform the union about AI implementations affecting workers and negotiate impacts. This is part of Microsoft's initiative to integrate AI into its products, with the company recognizing AI's potential to change job roles. Microsoft's union-friendly approach contrasts with some industry peers. Microsoft shares fell by 1.55% to $368.48.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 5:25 pm

AAPL

AMZN

GLD

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

USO

The stock market has rallied since early November, with the Invesco QQQ Trust Series 1 (QQQ) consolidating at the resistance zone's lower band. The Fed faces a challenge in tightening financial conditions without derailing the market, as the market may interpret their actions to fuel further gains. CPI and PPI data releases are anticipated, but the market's focus is on the upcoming FOMC meeting and Powell's press conference. Market mechanics, AI frenzy, and expectations of rate cuts in 2024 are driving the market higher. Deflation in China may help lower U.S. inflation, while Japan's yen fell after rate hike comments were walked back. Early trade money flows show positive trends for NVIDIA (NVDA) and Tesla (TSLA), but negative for Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), Meta Platforms (META), and Microsoft (MSFT). The SPDR S&P 500 ETF Trust (SPY) and QQQ show mixed flows. Gold and oil trading are active, with the SPDR Gold Trust (GLD) and United States Oil ETF (USO) being the most popular ETFs. Bitcoin (BTC) dropped as whales sold at $45,000 instead of pushing for a run to $50,000.

Portfolio Pulse from The Arora Report

December 11, 2023 | 5:21 pm

Citigroup analyst Andrew Kaplowitz has reaffirmed a Buy rating on General Electric (NYSE:GE) and increased the price target from $135 to $148, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 5:20 pm

LLAP

Terran Orbital's stock price has declined following the company's announcement of a formal review of strategic alternatives to enhance shareholder value. Options may include an investment, sale, a 'take private' transaction, or an alternative strategic relationship.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 5:17 pm

ACRHF

GTBIF

VFF

Nevada Governor Joe Lombardo appointed James Humm as the new leader of the state's Cannabis Compliance Board, succeeding Tyler Klimas. Klimas plans to start a consulting company after a cooling-off period. Humm previously worked at the Governor's Office of Economic Development. In other cannabis industry news, Mandesh Dosanjh became the executive board chair of the IRCC, Richard Drexler stepped down from Green Thumb Industries' board, and Philip Himmelstein was named interim CFO of Acreage Holdings, replacing Carl Nesbitt. Vincent Doré resigned from Entourage Health. The article also hints at potential growth in cannabis stocks, mentioning gains in Green Thumb Industries, Trulieve Cannabis, and Village Farms International.

Portfolio Pulse from Jelena Martinovic

December 11, 2023 | 5:16 pm

ECL

Ecolab (NYSE:ECL) has seen a 5.13% increase in short interest since its last report, with 2.05 million shares sold short, representing 0.82% of available shares. The short interest ratio is 2.04 days to cover. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. Ecolab's short interest is below its peer group average of 4.03%.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 5:15 pm

COP

ConocoPhillips (NYSE:COP) has seen a 4.95% decrease in short interest since its last report, with 11.45 million shares sold short, representing 0.96% of its float. The average time to cover these short positions is 2.04 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, ConocoPhillips has a lower short interest as a percentage of float, with the peer group average at 6.25%.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 5:15 pm

Brookfield (NYSE:BN) has seen a 12.35% increase in short interest since its last report, with 26.98 million shares sold short, representing 1.82% of its float. It would take about 9.12 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, Brookfield has less short interest compared to its peer group average of 3.11%. The rise in short interest doesn't necessarily predict a stock price drop.

Portfolio Pulse from Benzinga Insights

December 11, 2023 | 5:15 pm

BLUE

Bluebird Bio's stock (BLUE) is trading higher following an endorsement from B of A Securities, which maintained a Buy rating and increased the price target from $11 to $12.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 5:14 pm

ARGT

EDN

MELI

TEO

YPF

Javier Milei was inaugurated as Argentina's president, promising radical economic changes amid a hyperinflationary crisis. Milei plans to cut government spending to combat inflation projected to potentially reach 15,000%. U.S. officials attended the inauguration, indicating potential for improved U.S.-Argentina relations. Since Milei's election, Argentine stocks have surged, with the Global X MSCI Argentina ETF (ARGT) up 20%, and companies like EDN, YPF, TEO, and MELI showing significant gains.

Portfolio Pulse from Piero Cingari

December 11, 2023 | 5:12 pm