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BTCUSD

Former BitMEX CEO, Arthur Hayes, predicts that Bitcoin (BTC) could reach a price of $1 million due to escalating geopolitical tensions and persistent inflation. He believes that the ongoing wars involving the U.S and the stagnation of interest rate hikes by the Federal Reserve create a 'trigger moment' for Bitcoin. Hayes suggests that the surge in Bitcoin's value is not due to speculation about an ETF approval, but rather a reflection of a forthcoming 'very inflationary global world war situation'.

Portfolio Pulse from Benzinga Neuro

October 26, 2023 | 9:47 am

F

GM

STLA

The United Auto Workers union has struck a tentative deal with Ford Motor Co., potentially ending a strike that started in mid-September and impacted production at Ford, General Motors Corp., and Stellantis N.V. The strike has negatively affected the stocks of these companies, with Ford and GM seeing a downward trajectory, while Stellantis has traded in a broad range. The strike came at a difficult time for the automakers, who were already dealing with a challenging economy, higher input costs, and a transition to electric vehicle manufacturing.

Portfolio Pulse from Shanthi Rexaline

October 26, 2023 | 9:33 am

AMZN

BMY

MA

META

ORLY

Amazon, Meta Platforms, Mastercard, O'Reilly Automotive, and Bristol-Myers Squibb are the stocks to watch heading into Thursday. Amazon and Bristol-Myers Squibb are expected to report their quarterly earnings, while Meta Platforms and O'Reilly Automotive have reported better-than-expected results. Mastercard is also set to release its earnings.

Portfolio Pulse from Lisa Levin

October 26, 2023 | 9:32 am

WPP

WPP has lowered its FY23 like-for-like (LFL) revenue less pass-through costs growth outlook to 0.5%-1.0%, down from the previous 1.5%-3.0%. The company also expects its headline operating margin (excluding foreign exchange effects) to be between 14.8% and 15.0%, compared to the earlier estimate of around 15.0%.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 9:05 am

PHM

The US housing market saw a significant surge in new home sales in September, despite rising mortgage rates. New single-family home purchases rose by 12.3% to an annualized pace of 759,000, surpassing all predictions. Homebuilders like PulteGroup Inc. have been adjusting their product, pricing, and incentive programs to address affordability concerns. However, the sustainability of this sales pace remains uncertain due to high borrowing costs.

Portfolio Pulse from Benzinga Neuro

October 26, 2023 | 9:05 am

AAPL

Apple Inc. plans to phase out its second and third-generation AirPods in 2024, with new fourth-generation models set to adopt USB-C charging cases. The company aims to improve the earbuds, change the case design, and enhance the sound. A new version of the AirPods Max headphones is also expected in 2024. The decision to retire the older AirPods comes amidst growing competition in the wireless earbuds market from companies like Samsung, Google, Xiaomi, Sony, Bose, and Jabra.

Portfolio Pulse from Ananya Gairola

October 26, 2023 | 8:32 am

OCEA

Ocean Biomedical, Inc. (NASDAQ:OCEA) announced that its JV partner, Virion Therapeutics, has begun dosing its first patient in a Phase 1b clinical trial for its VRON-0200 immunotherapy, a potential cure for chronic Hepatitis B virus (HBV) infection. The trial is currently enrolling participants in Hong Kong and New Zealand, with plans to expand to the US. Initial clinical data from the study are expected in early 2024. OCEA shares are trading lower by 2.89% at $1.68 premarket on the last check Thursday.

Portfolio Pulse from Akanksha Bakshi

October 26, 2023 | 8:30 am

AMZN

BMY

F

GOOGL

MA

MSFT

U.S. stocks closed lower on Wednesday, with the S&P 500 settling below the 4,200 level. Alphabet Inc. shares fell 9.5% after reporting Q3 results, while Microsoft shares rose 3% following strong Q1 results. Investors are awaiting earnings results from Bristol-Myers Squibb, Mastercard, Ford Motor, and Amazon. The CNN Money Fear and Greed index remained in the 'Fear' zone.

Portfolio Pulse from Lisa Levin

October 26, 2023 | 8:16 am

TTE

TotalEnergies (NYSE:TTE) reported Q3 earnings of $2.63 per share, beating the analyst consensus estimate of $2.57 by 2.33%. However, this is a 31.33% decrease from the same period last year. The company also reported quarterly sales of $59.02 billion, surpassing the analyst consensus estimate of $49.83 billion by 18.44%, but this is a 14.51% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 7:51 am

ASX

ASE Tech Holding Co (NYSE:ASX) reported Q3 earnings of $0.13 per share, missing the analyst consensus estimate by 2.31%. This is a 51.15% decrease from the same period last year. The company also reported quarterly sales of $4.87 billion, missing the analyst consensus estimate of $5.12 billion by 4.92%. This is a 22.32% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 26, 2023 | 7:39 am