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DIS

Pixar Animation Studios, owned by Walt Disney Co (NYSE:DIS), is planning to reduce its workforce due to overstaffing after completing certain projects. While TechCrunch reported potential staff reductions of up to 20%, this figure was refuted by a source who stated that the exact number of job cuts has not been finalized. The layoffs are not expected to affect Pixar's theatrical output. Disney CEO Bob Iger's strategy to reduce in-house streaming content and license from third parties has not significantly boosted Disney's stock, which rose only 1.5% in 2023.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 7:07 am

BAC

Bank of America Corporation (NYSE:BAC) is anticipated to report lower earnings for Q4, with analysts predicting earnings of 63 cents per share, down from 85 cents in the previous year, and revenue of $23.74 billion, down from $24.66 billion. Despite better-than-expected earnings in Q3, BAC shares fell 1.3% recently. Analysts from Goldman Sachs, Oppenheimer, Keefe, Bruyette & Woods, BMO Capital, and Piper Sandler have provided various ratings and price targets for BAC stock.

Portfolio Pulse from Avi Kapoor

January 12, 2024 | 7:02 am

BGI

Birks Group Inc. (NYSE:BGI) reported an 8.1% increase in net sales and a 3.0% increase in comparable store sales for the 8-week interim sales period ended December 30th, 2023, compared to the same period in FY2023.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 6:54 am

BYDDY

STLA

TSLA

Tesla, Inc. (TSLA) has outperformed legacy automakers in U.S. sales growth over the past eight years, despite a general industry slowdown. Elon Musk praised his team in response to a Tesla influencer's post showing Tesla's U.S. sales increase by 632,088 units from 2015 to 2018. Legacy automakers like GM, Ford, and Stellantis reported sales declines, while Hyundai, Kia, Volkswagen, Geely, Subaru, and Mazda saw growth. Tesla's Q4 deliveries hit a record 484,507 units, with annual deliveries of 1.81 million. Tesla's production efficiency, diversified bases, and product appeal contribute to its success, while legacy automakers scale back EV ambitions. BYD has recently surpassed Tesla in battery EV manufacturing. Tesla's stock closed down 2.87% at $227.22.

Portfolio Pulse from Shanthi Rexaline

January 12, 2024 | 6:42 am

BTCUSD

Anthony Scaramucci, CEO of SkyBridge Capital and former White House Communications Director, expressed interest in buying spot Bitcoin ETFs following the SEC's approval for their creation. Scaramucci believes this approval is a pivotal moment for cryptocurrency, contributing to the growth of his hedge fund and predicting Bitcoin could surpass its all-time high by next year. The SEC's decision is seen as a significant step in mainstream financial adoption of Bitcoin, though it does not constitute an endorsement of the cryptocurrency.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 6:18 am

AMZN

QQQ

SPY

Jeff Bezos, founder of Amazon.com Inc. (NASDAQ:AMZN), celebrates his 60th birthday as the second-richest person in the world. Amazon, which started as an online bookstore, faced challenges during the dot-com bubble but survived and thrived, becoming a global e-commerce and technology giant. The article reflects on the potential returns of a $1000 investment in Amazon stock during the dot-com bubble compared to the present day, highlighting the company's resilience and growth. It also mentions Amazon's current ventures, including a significant investment in AI through Anthropic, and its dominance in cloud services with AWS.

Portfolio Pulse from Ananya Gairola

January 12, 2024 | 6:17 am

FXI

China's Consumer Price Index (CPI) for December decreased by 0.3% year-over-year, which is slightly better than the estimated 0.4% decline and an improvement from the previous 0.5% drop.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 5:47 am

HOOD

Robinhood Inc (NASDAQ:HOOD) has added all 11 SEC-approved spot Bitcoin ETFs to its platform, allowing customers to trade them in retirement and standard brokerage accounts. This move follows the SEC's January 10 approval of these ETFs for trading across the U.S. Robinhood's General Manager Johann Kerbrat and CEO Vlad Tenev have expressed positive views on the development, highlighting the benefits for clients in terms of access and risk management in cryptocurrency investments. Bitcoin was trading at $46,050.65, up 0.38% at the time of the report.

Portfolio Pulse from Mehab Qureshi

January 12, 2024 | 5:41 am

COIN

EXAS

HOOD

PATH

TSLA

Ark Invest, led by Cathie Wood, purchased $25.55 million worth of Tesla Inc (TSLA) shares, while selling shares of Coinbase Global Inc (COIN) and Robinhood Markets Inc (HOOD) following the approval of Bitcoin spot ETFs. Ark also increased its stake in Unity Software Inc (U), sold shares in Exact Sciences Corp (EXAS), and offloaded shares in UiPath Inc (PATH). These trades reflect Ark's confidence in Tesla and a strategic shift in their investment portfolio.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 5:32 am

EBAY

eBay Inc. (NASDAQ:EBAY) has agreed to pay a $3 million criminal penalty to resolve charges from a 2019 harassment campaign against bloggers critical of the company. The campaign, led by a former eBay senior director and other staff, involved sending threatening messages and disturbing items to the bloggers. eBay admitted to the charges in a deferred prosecution agreement and will be under supervision for three years. The company has made policy changes and the CEO has apologized. Analyst sentiment towards eBay has shifted recently, with a 6.19% decrease in the average 12-month price target.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 4:11 am