Streetbeat News

Stock Prices

AAPL

Apple Inc. has released watchOS 10.3 update for Apple Watch, focusing on stability and performance without introducing significant new features. The update follows the watchOS 10.2 which improved Siri integration and reinstated the swipe gesture for changing watch faces. Despite a sales pause for two watch models in the U.S. due to a patent infringement ruling, analysts from JPMorgan believe the financial impact on Apple will be minimal. Apple also launched its 2024 Black Unity collection for Apple Watch, iPhone, and iPad.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:34 am

NFLX

Netflix Inc. (NASDAQ:NFLX) will start streaming 'Crossroads,' Britney Spears' 2002 debut film, globally on February 15. The film, which also stars Zoë Saldana and was written by Shonda Rhimes, coincides with its original release date. Additionally, Scott Stuber, a key figure in Netflix's success, is set to leave the company in March to start his own production business.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:14 am

AMD

FB

MSFT

NVDA

AMD's stock surged by nearly 130% in 2023 due to demand for AI GPUs, but faces uncertainty after a downgrade by Northland Capital Markets analyst Gus Richard. The downgrade reflects concerns over inflated expectations for AI chip market growth, with Richard skeptical of the high revenue forecasts and noting market distortions from Nvidia's dominance and U.S. chip export bans to China. Despite recent highs, AMD's future in the AI chip market is now less certain.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 8:03 am

ADM

JNJ

M

NFLX

PG

VZ

The CNN Money Fear and Greed index remained in 'Greed' territory on Monday, with the Dow Jones closing above 38,000 for the first time. Archer-Daniels-Midland's stock fell over 24% due to an investigation into its accounting practices, while Macy's shares rose 3.6% after rejecting a takeover bid. U.S. leading index declined less than expected. Sectors like industrials and real estate gained, while utilities and consumer discretionary fell. Investors are looking forward to earnings from Johnson & Johnson, Procter & Gamble, Netflix, and Verizon.

Portfolio Pulse from Avi Kapoor

January 23, 2024 | 7:33 am

NTES

TCEHY

China's National Press and Publication Administration (NPPA) removed draft rules aimed at limiting video game spending and rewards from its website, leading to a surge in shares of Tencent Holdings Ltd (OTC:TCEHY) and NetEase Inc (NASDAQ:NTES). The removal suggests a potential revision of the rules, which had previously caused a market selloff and significant loss in market value for major gaming companies. The shift in regulatory stance could impact the future of China's gaming industry.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 7:31 am

MSTR

Jim Cramer, CNBC host, expressed a bearish view on Bitcoin, calling it a 'tough own' and doubting its price recovery. MicroStrategy CEO Michael Saylor responded, defending Bitcoin's resilience. Bitcoin's price fell below $40,000, impacting the wider crypto market. Ethereum also saw a downturn. The market corrections follow the launch of spot Bitcoin ETFs in the U.S. Cramer had previously acknowledged Bitcoin's endurance when its price surged past $45,000.

Portfolio Pulse from Mehab Qureshi

January 23, 2024 | 7:22 am

ACET

Adicet Bio has priced a public offering of 27,054,667 common shares at $2.40 per share and pre-funded warrants for 8,445,333 common shares at $2.3999 each. The expected gross proceeds are approximately $85.2 million, before underwriting discounts, commissions, and expenses. The offering is anticipated to close around January 25, 2024, subject to standard closing conditions.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 7:18 am

FFND

TSLA

Morgan Stanley analyst Adam Jonas lowered his 2024 adjusted EPS estimate for Tesla from $2.41 to $1.98, below the consensus estimate of $3.82, and reduced the price target from $380 to $345. Gary Black of Future Fund, who is bullish on Tesla and holds it in the Future Fund Active ETF (FFND), criticized Jonas' estimates as being inconsistent with his second-highest price target among analysts. Tesla is expected to report Q4 earnings soon, and its performance may influence its current trading range.

Portfolio Pulse from Shanthi Rexaline

January 23, 2024 | 7:13 am

PSBD

Palmer Square Capital BDC has completed its initial public offering (IPO), offering 5.45 million common shares at a price of $16.45 per share. The shares began trading on the New York Stock Exchange on January 18, 2024, under the ticker symbol 'PSBD'. The company raised approximately $89.7 million in gross proceeds, which will be used to make investments aligned with its investment objectives and strategies.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 7:10 am

GSBC

Great Southern Bancorp (NASDAQ:GSBC) reported Q4 earnings of $1.11 per share, missing the consensus estimate of $1.15, and a 39.67% decrease from the previous year. Sales were $45.15M, also below the estimate of $48.29M, marking a 17.34% year-over-year decline.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 6:59 am