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The past week in consumer tech saw significant developments including Mark Cuban's concerns about AI regulation, data breaches at a SoftBank and Naver co-owned company, and the launch of a controversial gossip app. Vrio Corporation partnered with Amazon's Project Kuiper for satellite broadband in South America. Microsoft announced that 'Call of Duty: Black Ops 6' will require a constant internet connection. Apple made several announcements at WWDC 2024, including updates to visionOS, iOS 18, and a new AI initiative. Google faced fines and privacy complaints, while Samsung combined its AI research centers. Meta Platforms and Tesla were also in the news for various reasons.

Portfolio Pulse from Lekha Gupta

June 16, 2024 | 10:42 pm

TSLA

Tesla shares saw a bounce after CEO Elon Musk hinted at shareholder support for his 2018 compensation plan, but pulled back sharply after the approval was confirmed. Analyst Per Lekander criticized Tesla, calling it a bubble and predicting a 50% drop in earnings this year. He set a $15 price target and flagged risks like class action lawsuits and board compensation. Lekander compared Tesla to Enron and noted that retail traders are currently holding up the stock.

Portfolio Pulse from Shanthi Rexaline

June 16, 2024 | 10:13 pm

LGF/A

LGF/B

Steven Mnuchin's Liberty 77 Capital has reported the purchase of 698,858 shares of Lions Gate Entertainment at an average price of $8.10 per share, according to a Form 4 filing on Friday.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2024 | 6:51 pm

ACLS

CLSK

ENVX

ESI

HIMS

IREN

KFY

NTLA

RNA

WLY

Avidity Biosciences, CleanSpark, and other mid-cap stocks saw significant gains last week. Avidity Biosciences surged 50.15% due to positive trial data, while CleanSpark gained 13.31% amid Bitcoin strength. Other notable gainers include Iris Energy, Hims & Hers Health, John Wiley & Sons, Element Solutions, Enovix, Axcelis Technologies, Intellia Therapeutics, and Korn Ferry.

Portfolio Pulse from Lekha Gupta

June 16, 2024 | 6:25 pm

AAPL

Apple CEO Tim Cook participated in a blind ranking of iconic Apple products during an interview with YouTuber Marques Brownlee at WWDC 2024. Cook praised the MacBook Air, iPad, iPhone, Magic Mouse, and Vision Pro, highlighting their significance and innovations. Additionally, Apple announced AI-powered personal intelligence features, receiving positive feedback from analysts.

Portfolio Pulse from Pooja Rajkumari

June 16, 2024 | 6:15 pm

CELH

GFI

IOT

MBLY

MSTR

NTR

ORAN

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PYPL

WBD

The article highlights the ten large-cap stocks that were the worst performers from June 9 to June 15, 2024. Notable mentions include Celsius Holdings, PayPal, Gold Fields, Paramount Global, Warner Bros. Discovery, Samsara, Orange SA, Nutrien, Mobileye Global, Zoom Video Communications, and MicroStrategy.

Portfolio Pulse from Lekha Gupta

June 16, 2024 | 5:48 pm

AAPL

ANET

ARM

AVGO

CASY

ORCL

QRVO

RTO

SWKS

The article highlights the top-performing large-cap stocks from June 9 to June 15, 2024, including Broadcom, Arm Holdings, Caseys General Stores, Qorvo, Skyworks Solutions, Zillow Group, Arista Networks, Rentokil Initial, Oracle, and Apple. These stocks saw significant gains due to various positive developments such as strong earnings reports, index inclusions, and strategic partnerships.

Portfolio Pulse from Lekha Gupta

June 16, 2024 | 5:45 pm

TIP

Former Treasury Secretary Larry Summers criticized Donald Trump's fiscal policy proposals, warning they could lead to severe stagflation. Summers highlighted the inflationary impact of Trump's tariff and labor restriction plans, comparing them to the damaging Smoot-Hawley tariffs of the Great Depression era. The iShares TIPS Bond ETF (NYSE:TIP) saw a slight increase, reflecting market concerns about inflation.

Portfolio Pulse from Shanthi Rexaline

June 16, 2024 | 5:33 pm

SPY

XHB

Federal Reserve Bank of Minneapolis President Neel Kashkari stated that the best action the Fed can take for the housing market is to reduce inflation. This statement suggests a focus on monetary policy to control inflation, which could impact housing-related stocks and ETFs.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2024 | 3:26 pm

SPY

XHB

Neel Kashkari, President of the Federal Reserve Bank of Minneapolis, stated that the median projection is for one interest rate cut, likely toward the end of the year. He emphasized the need for more evidence to be convinced that inflation is heading towards the 2% target.

Portfolio Pulse from Benzinga Newsdesk

June 16, 2024 | 3:25 pm