Streetbeat News

Stock Prices

DIS

Disney (NYSE:DIS) is in advanced talks with Reliance Industries to merge their Indian media and entertainment divisions, potentially creating India's largest media enterprise. The merger involves a stock swap, with Reliance securing over 51% and Disney owning the rest. Negotiations include a capital infusion of $1 billion to $1.5 billion. The board would have equal representation from both companies, with additional seats for Bodhi Tree and independent directors. The deal aims to finalize a term sheet by the end of January, with Disney+ content licensing and Jio Platforms as a distribution channel. The merger seeks to capitalize on synergies and enhance long-term business value.

Portfolio Pulse from Shomik Sen Bhattacharjee

December 12, 2023 | 7:00 am

NFLX

The film 'Leave the World Behind,' produced by Barack and Michelle Obama's Higher Ground Productions and released on Netflix (NASDAQ:NFLX), has topped the streaming charts in 85 countries. Despite its success, Tesla CEO Elon Musk expressed skepticism on social media regarding a scene in the movie. The film's performance is a notable achievement for the Obamas post-politics and reflects the growing influence of streaming content.

Portfolio Pulse from Ananya Gairola

December 12, 2023 | 6:44 am

AAPL

MSFT

Apple Inc. (AAPL) celebrated its 43rd IPO anniversary, reflecting on a journey from a $22 share price to becoming the largest company by market cap at $3.004 trillion. An initial $1000 investment in Apple's IPO would now be worth $1,524,838.86, outperforming the Nasdaq and S&P 500 returns for the same period. Despite challenges, including Steve Jobs' departure and return, Apple has thrived, launching revolutionary products like the iPod and iPhone, and continues to grow under CEO Tim Cook.

Portfolio Pulse from Ananya Gairola

December 12, 2023 | 6:30 am

GOOG

GOOGL

Google has updated its ad policies to allow advertising for cryptocurrency coin trusts targeting the U.S. market, effective December 6. This change could benefit potential Bitcoin spot ETFs, as companies like BlackRock, ARK Invest, and Grayscale may be able to advertise their products if approved by the SEC. The SEC's decision on 13 ETF applications is expected by January 10. Bitcoin's price was at $41,472, down 1.51% at the time of the report.

Portfolio Pulse from Mehab Qureshi

December 12, 2023 | 5:38 am

BTC

BTT

ETH

BitTorrent's native token BTT has seen a significant surge of 194% over the past week, outperforming Bitcoin and Ethereum. The increase is attributed to the user growth of the Tron blockchain, which recently reached 200 million users. Tron founder Justin Sun highlighted this achievement and the potential for increased usage of stablecoins on the platform. Tron is now the second-ranked blockchain in terms of user numbers and total value locked (TVL), with $8.2 billion in DeFi protocols. BitTorrent's market cap is approximately $958 million, with a 540% increase in daily trading volumes. Meanwhile, HTX exchange, also associated with Sun, experienced a $258 million net outflow after resuming operations post a significant hack.

Portfolio Pulse from Mehab Qureshi

December 12, 2023 | 4:21 am

ADPT

ARKF

ARKK

ARKW

COIN

CRSP

GBTC

Ark Invest, led by Cathie Wood, sold over $12.8 million worth of Grayscale Bitcoin Trust (GBTC) shares through its ARK Next Generation Internet ETF (ARKW) as the crypto market shows signs of uncertainty. Additionally, Ark sold 13,634 Coinbase (COIN) shares through ARKK, ARKF, and ARKW, valued at $1.8 million. The sales occurred against a backdrop of fluctuating cryptocurrency prices, with Bitcoin recently crossing the $44K mark. Ark also increased its investments in the biotech sector, purchasing shares of CRISPR Therapeutics (CRSP) and Adaptive Biotechnologies (ADPT).

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 3:55 am

BTCUSD

DOGEUSD

ETHUSD

Bitcoin experienced its sharpest daily decline in nearly four months, leading to $236.04 million in liquidations across the crypto market. Ethereum and Dogecoin showed mixed performance. Analysts suggest Bitcoin could bounce back from the $39,500-40,000 level to above $42,000, potentially establishing a new range before year-end. The S&P 500 and Nasdaq Composite rose, with investors awaiting key inflation data that could influence Federal Reserve rate policy decisions.

Portfolio Pulse from Mehab Qureshi

December 12, 2023 | 3:12 am

NFLX

Netflix Inc. (NASDAQ:NFLX) experienced a significant global outage on Monday, with users reporting a 'tvq-pb-101' error message. The issue, which lasted several hours, affected various devices including Roku smart TVs, PS5, and Xbox, but did not impact services like Google or Amazon. The outage was resolved by 8 PM ET. This comes amid customer dissatisfaction over rising subscription costs, which could influence Netflix's subscriber numbers and competitive standing.

Portfolio Pulse from Ananya Gairola

December 12, 2023 | 3:00 am

Ford Motor Co (NYSE:F) is reducing its production targets for the F-150 Lightning electric pickup by 50% starting next year due to changing market demand. The new target is approximately 1,600 vehicles per week, down from the initial 3,200 units. This decision follows Ford's Q3 announcement of delaying a $12 billion EV investment and focusing on combustion engine vehicles and hybrids. Despite the production cut, Ford's Lightning sales increased by 113% year-on-year in November.

Portfolio Pulse from Anan Ashraf

December 12, 2023 | 2:31 am

GOOG

GOOGL

A federal jury ruled that Google's Android app store, operated by Alphabet Inc, has unfairly maintained antitrust barriers, negatively impacting consumers and developers. The lawsuit, initiated by Epic Games, concluded with a unanimous verdict against Google after a four-week trial. U.S. District Judge James Donato will decide on remedial actions for Google's Play Store practices. The case highlights Google's control over app distribution and commission fees, contrasting with a previous loss by Epic against Apple.

Portfolio Pulse from Benzinga Neuro

December 12, 2023 | 1:10 am