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NWS

NWSA

News Corp's subsidiary News Group Newspapers (NGN) has settled multiple phone-hacking claims, including those from celebrities and a former minister, offering apologies and paying substantial damages. The scandal, which first emerged in 2006, led to the closure of News of the World, imprisonment of its editor, and a public inquiry. NGN aims to conclude litigation ongoing for over 20 years. Further allegations against the Sun are set for trial in 2025. News Corp's shares (NWS) saw a slight increase of 0.84% to $22.91.

Portfolio Pulse from Anusuya Lahiri

December 06, 2023 | 7:07 pm

MULN

Mullen Automotive, Inc. has filed a federal lawsuit against UBS Securities, IMC Financial Markets, and Clear Street Markets, alleging market manipulation through spoofing, which artificially deflated Mullen's stock prices. The complaint, filed in the Southern District of New York, claims this activity occurred between Nov. 9, 2021, and Nov. 9, 2023, and could result in damages in the billions. The lawsuit aims to protect shareholder equity and address the significant impact on Mullen's share price.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:06 pm

META

ByteDance Ltd, the parent company of TikTok, is offering a share buyback of up to $5 billion at $160 per share, which is 11% lower than the previous year's rate. Despite setbacks including regulatory challenges and market bans, ByteDance remains among the top 40 most valuable global companies and saw a 30% revenue increase in 2022, reaching over $80 billion. Meta Platforms Inc (NASDAQ:META) is mentioned as a rival to TikTok.

Portfolio Pulse from Anusuya Lahiri

December 06, 2023 | 7:04 pm

CCL

CPB

HOOD

LCID

MDB

TLT

XLE

Stocks showed little movement while gold and Treasuries rose amid mixed sentiments due to weak ADP employment data. Investors are considering the implications for interest rates and corporate earnings. Oil prices fell, pressuring energy stocks like XLE. TLT gained on safe-haven demand. Citigroup announced a share buyback, boosting its stock, while Altria and Philip Morris were hit by British American Tobacco's brand devaluation. Lucid plans to lower prices, Campbell Soup reported strong earnings, and Carnival saw gains with travel optimism. Brown Forman and MongoDB fell on results, while SentinelOne and Robinhood rose.

Portfolio Pulse from Piero Cingari

December 06, 2023 | 7:04 pm

DUST

FNV

GOLD

NEM

NUGT

Spot gold has maintained its position above $2,000, with the Direxion Daily Gold Miners Index Bull 2X Shares (NUGT) rising by 1.2%. This comes in anticipation of the November jobs report and the upcoming FOMC meeting. NUGT, which aims to outperform the NYSE Arca Gold Miners Index by 200%, includes significant holdings in Newmont Corp (NEM), Barrick Gold Corp (GOLD), and Franco-Nevada Corp (FNV). The ETF is forming a bull flag pattern, suggesting a potential 38% rise if the pattern holds. Conversely, for bearish traders, the Direxion Daily Gold Miners Index Bear 2X Shares (DUST) is an option. Leveraged ETFs like NUGT and DUST are recommended for experienced traders and not for long-term investment strategies.

Portfolio Pulse from Melanie Schaffer

December 06, 2023 | 7:02 pm

AMD

DELL

Dell has announced that it will be incorporating AMD's Instinct MI300X Accelerator into its offerings, enhancing its capabilities in artificial intelligence (AI). This move signifies a strengthening of the partnership between Dell and AMD, and positions Dell to better serve customers requiring advanced AI processing.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:01 pm

TSVT

2seventy bio, Inc. (NASDAQ:TSVT) has issued a statement reaffirming its commitment to maximizing shareholder value. The company's Board has started a process to evaluate all options to enhance value, focusing on making their therapies available to patients, driving shareholder value, and supporting their employees.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 7:01 pm

HDB

Over the past 10 years, HDFC Bank (NYSE:HDB) has produced an average annual return of 13.31%, outperforming the market by 3.6% on an annualized basis. A $100 investment in HDB a decade ago would now be worth $345.78. HDFC Bank currently has a market capitalization of $159.56 billion.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 7:00 pm

XPO

Within the last quarter, XPO Logistics, Inc. (NYSE:XPO) received 17 analyst ratings, with an average price target of $86.65, suggesting a slight upside from the current price of $85.5. The ratings included 3 bullish, 11 somewhat bullish, and 3 indifferent, with no bearish or somewhat bearish ratings. Over the past month, the average price target for XPO has increased by 8.79%. Analysts typically review stocks quarterly or after major company updates, basing their ratings on financial forecasts, company performance, and industry analysis.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 7:00 pm

COR

Cencora (NYSE:COR) has delivered an average annual return of 18.36% over the past 15 years, outperforming the market by 6.76% annually. A $1000 investment in COR 15 years ago would be worth $13,252.07 today. Cencora's market cap stands at $40.63 billion, with a current stock price of $203.73.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 7:00 pm