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AAPL

Apple Inc. (AAPL) is reportedly ending its credit card partnership with Goldman Sachs Group (GS) within 12-15 months. Apple faced security issues with an Apple ID hack affecting iCloud access. The company is also developing a budget-friendly version of its Vision Pro headset, aiming to cut production costs by 50%. A YouTuber built a discount Vision Pro, challenging the value of Apple's version. Apple celebrated 'Artist of the Year' Taylor Swift with a free event in NYC.

Portfolio Pulse from Benzinga Neuro

December 03, 2023 | 10:44 am

DASH

GRUB

UBER

A New York state appeals court has ruled that food delivery companies Uber Technologies Inc. (UBER), DoorDash Inc. (DASH), and Grubhub Inc. (GRUB) must pay their workers a minimum hourly wage of $17.96. The court rejected the companies' attempts to overturn a previous ruling, enforcing the minimum pay rule. The companies expressed disappointment and are considering further actions. Following the news, UBER's stock dropped by 2%, DASH by 1.5%, and GRUB by 1.8%.

Portfolio Pulse from Benzinga Neuro

December 03, 2023 | 4:54 am

AAPL

JNJ

PSX

SCHW

UBER

Barron's weekend stock picks include Uber joining the S&P 500, Elliott Management's stake in Phillips 66, Schwab's rebound, Apple's December performance, and UBS's upgrade of Johnson & Johnson. Uber's inclusion in the S&P 500 reflects its recent profitability. Elliott Management's $1 billion stake in Phillips 66 could lead to a 75% stock increase. Schwab's stock rose 12% with a positive outlook from analysts. Apple may see a better December due to high holiday expectations and improved supply. Johnson & Johnson was upgraded to 'Buy' by UBS, with a positive outlook on its businesses.

Portfolio Pulse from Justin Chan

December 02, 2023 | 10:29 pm

ALK

BLDR

JBL

SEDG

SEE

UBER

Uber Technologies, Inc. (NYSE:UBER) is set to join the S&P 500 index, replacing Sealed Air Corp. (NYSE:SEE). Jabil Inc (NYSE:JBL) and Builders FirstSource Inc. (NYSE:BLDR) will also join, replacing Alaska Air Group Inc. (NYSE:ALK) and SolarEdge Technologies Inc. (NASD: SEDG). The changes will take effect on December 18, coinciding with the quarterly rebalance. Uber has shown strong financial performance with four consecutive quarters of positive GAAP earnings and robust growth in stock value. The company reported an Adjusted EBITDA of $1.09 billion in the last quarter and expects Q4 gross bookings of $36.5 to $37.5 billion with an adjusted EBITDA of $1.18 to $1.24 billion. UBER shares closed higher by 1.72% and rose 5.49% after hours.

Portfolio Pulse from Nabaparna Bhattacharya

December 02, 2023 | 9:45 pm

Boeing Company (NYSE:BA) has been excluded from the U.S. Air Force's competition to develop the E-4B Nightwatch successor, known as the 'Doomsday Plane'. The exclusion was due to disagreements over data rights and contract terms, specifically Boeing's reluctance to accept a fixed-price contract. This leaves Sierra Nevada Corp as the only known contender for the Survivable Airborne Operations Center (SAOC) contract. Boeing's defense unit has faced significant losses on fixed-price development programs, totaling $16.3 billion since 2014. Boeing's stock saw a slight increase on Friday despite the news.

Portfolio Pulse from Nabaparna Bhattacharya

December 02, 2023 | 9:37 pm

BTCUSD

Bitcoin (BTC) has surged to $39,000, driven by optimism for a potential U.S. SEC approval of a spot Bitcoin ETF. The cryptocurrency has seen a 3% increase in the last 24 hours and 12% over the past month. Despite the rally, Bitcoin remains below its all-time high of $69,044. The market anticipates Federal Reserve interest-rate cuts and the approval of a spot Bitcoin ETF as catalysts for further growth. Bitcoin options market suggests a trading range of $37,000 to $40,000 for December.

Portfolio Pulse from Bibhu Pattnaik

December 02, 2023 | 8:44 pm

AEM

BTG

FNV

GDX

NEM

Peter Schiff, a well-known gold bull, commented on the recent performance of gold and gold stocks, highlighting that despite gold's record close, gold mining stocks rose by a lower percentage, indicating 'extreme bearishness'. Gold has rallied about 13.5% this year, driven by expectations of Federal Reserve rate cuts. The VanEck Gold Miners ETF (GDX) and several gold mining stocks such as AEM, BTG, FNV, NEM, and NG have underperformed compared to spot gold and gold futures, but could catch up as higher gold prices boost their revenues. Benzinga screened gold stocks based on market cap, trading volume, analyst recommendations, and price targets.

Portfolio Pulse from Shanthi Rexaline

December 02, 2023 | 7:10 pm

AAPL

AMZN

DIS

IBM

WBD

WMT

Walmart Inc. (WMT) has joined other major companies in halting advertising on a platform (referred to as 'X' in the article) following Elon Musk's critical remarks. Kevin O'Leary, Chairman of O'Leary Ventures, also expressed skepticism about the platform's advertising effectiveness, choosing not to spend his $2 million monthly advertising budget there. Major companies like The Walt Disney Company (DIS), Warner Bros. Discovery, Inc. (WBD), International Business Machines Corporation (IBM), Apple Inc. (AAPL), and Amazon.Com, Inc. (AMZN) have paused or suspended campaigns on 'X'. The platform could face a $75 million downturn in ad revenue by year's end.

Portfolio Pulse from Nabaparna Bhattacharya

December 02, 2023 | 6:20 pm

FTCH

JPM

Point72 Asset Management, led by Steven A. Cohen, has acquired a 5.1% stake in Farfetch (NYSE:FTCH), a luxury fashion company. The SEC filing revealed Point72 owns 18,132,807 Class A Ordinary Shares. Farfetch's founder, José Neves, is considering taking the company private with the help of JP Morgan Chase & Co. (NYSE:JPM), controlling 15% of the stake and 77% of the voting rights. Farfetch has postponed its Q3 financial results and guidance, with shares closing higher by 9.4% but trading lower by 0.78% after hours.

Portfolio Pulse from Nabaparna Bhattacharya

December 02, 2023 | 3:57 pm

BTCUSD

Crypto trader The Flow Horse predicts Bitcoin (BTC) will surpass the $40,000 mark, citing the potential SEC approval of a Bitcoin ETF by January 10, 2024, the upcoming Bitcoin halving event in April 2024, and possible Federal Reserve rate cuts next year. Bitcoin is currently trading at $38,808.55, having risen 3% in the past week.

Portfolio Pulse from Bibhu Pattnaik

December 02, 2023 | 3:11 pm