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In 2017, Google offered Netflix a discounted rate of 10% for in-app payments on Android, a deal that would have made Netflix a 'platform development partner'. However, Netflix declined the proposal, estimating a loss of nearly $250 million annually through Google Play Billing signups. This is not the first instance of tech giants offering significant discounts to major companies. In 2016, Apple offered Amazon a 50% discount on subscription revenues from its streaming video-on-demand app.

Portfolio Pulse from Ananya Gairola

November 10, 2023 | 10:13 am

NFLX

VZ

WBD

Verizon Communications Inc. is reportedly partnering with Netflix Inc. and Warner Bros Discovery to launch a competitively priced streaming bundle. The bundle, which includes ad-supported versions of Netflix and Warner Bros Discovery’s Max streaming services, will be offered to Verizon customers for about $10 a month. The launch is expected in the coming weeks and involves a revenue-sharing agreement between the three companies.

Portfolio Pulse from Benzinga Neuro

November 10, 2023 | 7:48 am

AAPL

The production cost of Apple Inc.'s iPhone 15 Pro Max has increased by 8% compared to its predecessor, according to a report by Counterpoint Research. The Bill of Materials cost for a 256 GB iPhone 15 Pro Max is approximately $502, $37.70 higher than the iPhone 14 Pro Max. The increased cost is due to the new 3-nanometer A17 Pro chip, the Tetraprism lens for enhanced 5x optical zoom, and the shift to a titanium frame. Despite the increased production costs, the iPhone 15 Pro Max maintains the highest profit margin in Apple's lineup this year.

Portfolio Pulse from Ananya Gairola

November 10, 2023 | 7:43 am

F

GM

TM

TSLA

President Joe Biden expressed support for unionization at Tesla and Toyota, which was criticized by entrepreneur David Sacks as an 'archaic view of the past'. Sacks argued that Tesla's non-unionized nature is what makes it innovative. In response, Tesla bear Gordon Johnson argued that Sacks' view is dismissive of the benefits of union jobs for the middle class. Tesla's stock fell 5.46% following the news, partly due to HSBC initiating the stock with a Reduce rating and $146 price target.

Portfolio Pulse from Shanthi Rexaline

November 10, 2023 | 7:13 am

EWU

The U.K.'s trade balance for September was reported at -14.29 billion, better than the estimated -15.30 billion and the prior figure of -15.52 billion.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 7:07 am

EWU

The U.K.'s monthly Gross Domestic Product (GDP) 3M/3M change for September was 0.0%, compared to the estimated -0.1% and the prior 0.3%.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 7:07 am

AQN

Algonquin Power & Utilities Corp. (NYSE:AQN) is expected to release its Q3 financial results on Nov. 10, 2023. Analysts predict earnings of 12 cents per share, up from 11 cents per share in the previous year, and revenue of $670.67 million, up from $594.76 million. The company's shares fell 0.5% to close at $5.59 on Thursday. Recent analyst ratings include a price target cut from $9 to $8.5 by BMO Capital, a price target increase from $9.5 to $10 by Wells Fargo, and a downgrade from Hold to Sell by Desjardins.

Portfolio Pulse from Lisa Levin

November 10, 2023 | 7:06 am

EWU

UK's manufacturing production for September was reported at 0.1%, lower than the estimated 0.3% and significantly improved from the revised prior of -0.7%.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 7:06 am

EWU

The U.K. Industrial Production for September was reported at 0.0%, missing the estimated 0.1% and lower than the revised prior of -0.5%.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 7:05 am

EWU

The preliminary report for Q3 shows a -4.2% change in U.K. business investment, which is lower than the estimated -3.5% and the prior 4.1%.

Portfolio Pulse from Benzinga Newsdesk

November 10, 2023 | 7:01 am