Streetbeat News

Stock Prices

TSLA

Tesla Inc (NASDAQ:TSLA) is planning to produce a new mass market electric vehicle, codenamed 'Redwood', which is expected to be a compact crossover with production starting in mid-2025, according to a Reuters report citing sources familiar with the matter.

Portfolio Pulse from Anan Ashraf

January 24, 2024 | 5:38 am

AMZN

NFLX

Netflix Inc (NASDAQ:NFLX) is experiencing positive results from its crackdown on password sharing, leading to increased user engagement and new account sign-ups. Co-CEO Ted Sarandos expressed satisfaction with the strategy during an earnings call, noting that while engagement was slightly impacted by paid sharing, it is expected to normalize as users create their own accounts. The company's Q4 earnings showed a 12.5% year-over-year revenue increase, surpassing consensus estimates, continuing the positive trend from Q2 2023. Netflix's move has also drawn attention from competitors like Amazon.com Inc's (NASDAQ:AMZN) Prime Video.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 5:07 am

BABA

PDD

SFBQF

Jack Ma and Joe Tsai have become the largest shareholders of Alibaba Group Holding Ltd (NYSE:BABA), surpassing SoftBank Corp (OTC:SFBQF). Ma increased his stake to over 4.3% by purchasing $50 million worth of shares, while Tsai bought 1.957 million shares through Blue Pool Management. Their combined stake now exceeds that of SoftBank, which has reduced its stake to less than 0.5%. Alibaba's stock price, which had dropped by 11% in Q4 2023, saw a resurgence of over 7% following the co-founders' investments, signaling their confidence in the company's future.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 4:58 am

TSLA

Tesla CEO Elon Musk expressed skepticism with a 'Sigh' in response to Toyota Chairman Akio Toyoda's view that battery electric vehicles (BEVs) will only secure up to 30% of the global automotive market. Toyoda believes in a diverse approach to reducing CO2 emissions, including hybrids, hydrogen fuel cells, and combustion engines. Musk, who is focused on BEVs at Tesla, has previously stated that electric cars will replace combustion cars, much like cars replaced horses, and has criticized hydrogen as an inefficient energy source for vehicles.

Portfolio Pulse from Anan Ashraf

January 24, 2024 | 4:24 am

AAPL

AMZN

GOOG

GOOGL

META

MSFT

Alphabet Inc. has ended its contract with Appen, the AI firm that has been instrumental in training Google's Chatbot Bard and contributing to Google Search results. This decision, effective March 19, follows a strategic review by Alphabet and will impact around two thousand subcontracted workers. Appen, which has been facing challenges such as client attrition and declining financials, relied on Alphabet for about one-third of its revenue. Alphabet's move aligns with its focus on developing proprietary AI technology, amidst defending a $7 billion lawsuit over AI patent infringement.

Portfolio Pulse from Ananya Gairola

January 24, 2024 | 3:45 am

BTCUSD

DOGEUSD

ETHUSD

GBTC

Cryptocurrencies Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) are in decline, partly due to institutional sales from ETFs. Grayscale's GBTC has seen significant outflows since converting to a spot Bitcoin ETF, with FTX's bankruptcy estate selling a large portion of its GBTC shares. Analysts predict a massive correction for Bitcoin, while some assets like Bitcoin Cash and Loopring are being actively shorted on Binance. The S&P 500 and Nasdaq hit new highs, and key economic indicators are expected later this week.

Portfolio Pulse from Mehab Qureshi

January 24, 2024 | 3:37 am

TSLA

Tesla Inc (NASDAQ:TSLA) has listed over 80 job openings related to its Semi electric truck, indicating an acceleration in its plans for the vehicle. The jobs are located in Nevada, California, and Texas, with the Nevada gigafactory nearing completion of a high-volume Semi factory announced in January 2023. Tesla executives have targeted volume production of the Semi for 2024, with about 100 Semis currently in the fleet and ongoing durability testing with PepsiCo.

Portfolio Pulse from Anan Ashraf

January 24, 2024 | 3:05 am

BABA

DWAC

NFLX

NVVE

TSLA

U.S. indices showed mixed results with the Dow Jones down, while the S&P 500 and Nasdaq rose. Netflix reported a revenue beat with subscriber growth, despite missing EPS estimates. Digital World Acquisition surged after Trump's primary win. Alibaba rallied after China's stimulus announcement. Nuvve Holding soared on a fleet electrification project. Tesla saw a slight increase ahead of its earnings report.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 1:59 am

ALK

UAL

Boeing CEO Dave Calhoun is scheduled to meet with U.S. senators including Ted Cruz and Mark Warner to discuss the grounding of the 737 MAX 9, following a cabin panel blowout on an Alaska Air jet. The FAA has grounded 171 MAX 9 airplanes and recommended expanded checks on the 737-900ER fleet. United Airlines CEO Scott Kirby has concerns about the MAX 10 jets, which are vital for Boeing's recovery. Boeing has also announced a quality stand down at its Seattle-area location to address safety concerns.

Portfolio Pulse from Benzinga Neuro

January 24, 2024 | 1:50 am

INSG

Trading for INSG has been halted at 7:50:00 p.m. ET due to pending news. The halt is in place to manage market orderliness and ensure a fair and orderly market in anticipation of significant news that could affect the stock price.

Portfolio Pulse from Benzinga Newsdesk

January 24, 2024 | 12:50 am