Streetbeat News

Stock Prices

AMZN

TGT

VCR

WMT

XLY

A ProPublica investigation has revealed that Walmart Inc. (NYSE: WMT) is implicated in a fraud network involving gift cards and money laundering, with losses exceeding $1 billion from 2013 to 2022 according to the FTC. Despite Walmart's efforts to dismiss a lawsuit alleging negligence in preventing fraud, the company's financial services are under scrutiny for lack of effective anti-fraud measures. The case of Qinbin Chen, who laundered $7 million in Walmart gift cards, highlights the issue. Walmart's expansion into financial services, including the acquisition of One, raises concerns about its ability to manage these services amidst compliance issues. The situation may also impact related companies like Amazon.com Inc. (NASDAQ: AMZN) and Target Corporation (NYSE: TGT), as well as ETFs like XLY and VCR.

Portfolio Pulse from Bibhu Pattnaik

January 28, 2024 | 7:17 pm

SUBL

Amer Sports, Inc (NYSE:AS) and BIOLINGUS (CAYMAN) LIMITED (NASDAQ:SUBL) are set to go public on Feb. 1, 2024, and Jan. 31, 2024, respectively. Amer Sports will offer 100 million shares at $17.00 each, while BIOLINGUS will offer 360,000 shares at $15.50 each. Both companies have a 180-day insider lock-up period post-IPO.

Portfolio Pulse from Benzinga Insights

January 28, 2024 | 5:03 pm

ALK

UAL

United Airlines Holdings Inc. (UAL) is resuming flights with Boeing Co.'s (BA) 737 Max 9 aircraft after a temporary grounding. The grounding was due to an incident involving an Alaska Air Group Inc (ALK) flight where a door plug blew out mid-flight. The FAA has given final approval for the Max 9 fleet's return. United, a major Boeing customer, had expressed concerns over Boeing's quality control. Alaska Airlines has already restarted Max 9 operations, with Aeromexico and Turkish Airlines expected to follow. Boeing has committed to improving quality standards to regain confidence from customers, regulators, and the public.

Portfolio Pulse from Bibhu Pattnaik

January 28, 2024 | 4:05 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares dropped 12.13% on Thursday after Q4 results but slightly recovered on Friday. The stock is now in the oversold zone according to the 14-day RSI. A long-term technical chart suggests that Tesla has historically bounced back after hitting a long-term upward trendline. Analysts have lowered estimates and price targets post-earnings, but the average target still indicates over 21% upside potential. Near-term catalysts include Q1 delivery updates and news on new EVs, Giga Mexico, or India launch.

Portfolio Pulse from Shanthi Rexaline

January 28, 2024 | 2:31 pm

AAPL

RIVN

DJ Novotney, a key executive involved in Apple's self-driving car project, has left the company to join Rivian Automotive as its senior vice president of vehicle programs. Novotney's departure is part of a series of executive exits from Apple, which may impact its car project. Rivian, on the other hand, could benefit from Novotney's experience as it works on its next-gen EV platform.

Portfolio Pulse from Shanthi Rexaline

January 28, 2024 | 2:21 pm

DOGE-USD

ETH-USD

SHIB-USD

This week in cryptocurrency saw Dogecoin's value surge due to Elon Musk's X app, Trump sold over 1,000 Ethereum, a Colorado pastor admitted to crypto fraud, Trump profited from MAGA coin, and Shiba Inu's burn rate increased by over 4,200%. Dogecoin may be adopted by X/Twitter as a payment method, Trump's NFTs remain in demand, and Shiba Inu tokens were burned by anonymous entities.

Portfolio Pulse from Benzinga Neuro

January 28, 2024 | 12:57 pm

AAPL

MASI

META

MSFT

NVDA

TSLA

This week in AI featured Elon Musk denying xAI's capital raise reports, tech giants backing Biden's AI initiative, Apple's potential AI integration in iPhones, concerns over deepfake threats to US elections, and Tesla's plans to invest in AMD and Nvidia hardware. Musk refuted a Financial Times story about xAI raising $6 billion. Microsoft, Nvidia, and Meta support Biden's AI project. Apple is likely to incorporate generative AI into iPhones, and Tesla aims to purchase chips from AMD and invest in Nvidia hardware for AI advancements.

Portfolio Pulse from Benzinga Neuro

January 28, 2024 | 12:27 pm

COIN

DKNG

INTC

JBLU

SAVE

TSLA

Barron's weekend stock coverage includes Intel's 12% drop after weak guidance, Flutter Entertainment's NYSE debut and its implications for DraftKings, Tesla's minimal rebound and expected short-term weakness, Coinbase's stock rise due to an Oppenheimer upgrade, and Spirit Airlines' stock tumble as JetBlue hints at walking away from their merger. Analysts downgraded Intel on AI competitiveness concerns, DraftKings is expected to withstand Flutter's entry, Tesla is subject to the 'three-day rule' post-underperformance, Coinbase is seen as resilient despite SEC challenges, and Spirit faces uncertainty over its merger with JetBlue.

Portfolio Pulse from Justin Chan

January 28, 2024 | 12:37 am

INTC

SMH

SOXX

TSM

TXN

The Biden administration is reportedly planning to announce billions in subsidies for semiconductor companies under the $53 billion Chips Act. The initiative aims to boost U.S. microchip production, countering China's industry. Intel (INTC) and Taiwan Semiconductor Manufacturing Co. (TSM) are expected to be key beneficiaries, with projects in states like Arizona, Ohio, and New Mexico. The Chips Act has faced slow implementation due to permitting, negotiations, and worker shortages. Despite these challenges, the Act has spurred over $200 billion in private sector investments. Other companies to watch include Samsung Electronics (SSNGY), Micron Technology (MU), and Texas Instruments (TXN), along with ETFs like SOXX and SMH.

Portfolio Pulse from Nabaparna Bhattacharya

January 27, 2024 | 10:23 pm