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COST

Costco Wholesale Corporation (NASDAQ:COST) is testing a new scanning system at store entrances to prevent unauthorized access by non-members using others' membership cards. The system, piloted in a Washington State store, requires members to scan their cards upon entry. This initiative, which also includes checking photo IDs at self-checkout registers, aims to address membership sharing issues and streamline the shopping process. Costco's membership fees are vital to its profitability and low prices, and the company is expanding globally, with a strong presence in China.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 9:09 am

SPY

Tom Lee from Fund Strat warned of a potential 7% drawdown in the S&P 500 after a possible minor new high this month. Despite a strong performance in 2023, the S&P 500 has been flat in January. The SPDR S&P 500 ETF Trust (SPY) slightly declined. Concerns stem from Federal Reserve comments on interest rates and poor manufacturing data. The upcoming earnings season will be crucial for market direction.

Portfolio Pulse from Shanthi Rexaline

January 17, 2024 | 9:08 am

DIS

Disney CEO Bob Iger's total compensation for 2023 has more than doubled to $31.6 million, up from $15 million in 2022. His package includes a base salary, stock awards, stock option awards, performance-based compensation, and other compensation. Despite Disney's challenges, such as box office failures and a shift to streaming, Iger's earnings have increased significantly. Disney also announced additional expense cuts of $2 billion, adding to a previous $5.5 billion reduction. Iger, who returned as CEO after Bob Chapek's short tenure, has had his contract extended through 2026.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 8:41 am

TSLA

Tesla Inc (NASDAQ:TSLA) has reduced the prices of its Model Y SUV in Germany by up to 9%, with cuts ranging from 1,900 euros to 5,000 euros across different configurations. The price reduction follows a similar move in China, although the Model Y Performance version's price was not changed in China. Other Tesla vehicle models retain their previous prices.

Portfolio Pulse from Anan Ashraf

January 17, 2024 | 8:29 am

SPY

Ray Dalio, billionaire and hedge-fund veteran, shared his perspective on LinkedIn about the pivotal nature of the year 2024. He highlighted five major interconnected influences: debt-money-markets-economy, internal conflict, external conflict, climate change, and human inventiveness. Dalio sees internal conflict as the biggest risk, potentially leading to pre-civil war conditions. He also discussed the implications of the U.S. elections, technological advancements, and climate change. The SPDR S&P 500 ETF Trust (SPY) was mentioned in relation to market performance.

Portfolio Pulse from Shanthi Rexaline

January 17, 2024 | 8:07 am

SHEL

Iran has temporarily stopped supplying weapons to Yemen's Houthi rebels following US and UK airstrikes. The long-term impact is uncertain, but there's a cautious optimism about the intervention's effectiveness. The strikes were in response to Houthi attacks on commercial shipping in the Red Sea, affecting global trade and prompting companies like Shell Plc to suspend Red Sea shipments. The situation remains tense, with recent Houthi attacks on US Navy ships.

Portfolio Pulse from Benzinga Neuro

January 17, 2024 | 7:41 am

EGY

VAALCO Energy, Inc. (EGY) reported strong operational performance for FY23 with sales volumes exceeding guidance. The company achieved 18,700 to 18,800 NRI BOEPD for the full year, surpassing the top end of its guidance range of 17,900 to 18,500 NRI BOEPD. Q4 sales volumes were about 21,725 to 22,125 NRI BOEPD. Full year WI BOEPD was 23,900 to 24,000, and Q4 production was 23,100 to 23,500 WI BOEPD or 17,900 to 18,200 NRI BOEPD. The company also increased its cash reserves to over $120 million after returning $12.5 million to shareholders through dividends and buybacks in Q4.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 7:28 am

ARKW

BITW

GBTC

Peter Schiff predicts a sharp decline in Bitcoin's price due to anticipated stringent regulations from the SEC, following the approval of spot Bitcoin ETFs. Schiff believes these regulations will increase Bitcoin transaction costs and undermine its utility. The recent trading of new Bitcoin Spot ETFs saw about $10 billion in volume in just three days. SEC-approved Spot ETFs include those from Grayscale, Bitwise, Hashdex, iShares, Valkyrie, ARK 21Shares, Invesco Galaxy, VanEck, WisdomTree, Fidelity Wise Origin, and Franklin.

Portfolio Pulse from Mehab Qureshi

January 17, 2024 | 7:23 am

DFS

IBKR

PRGS

SCHW

USB

U.S. stock futures are trading lower, with investor focus on earnings reports from U.S. Bancorp, Interactive Brokers Group, Charles Schwab, Progress Software, and Discover Financial Services. U.S. Bancorp is expected to report earnings before the opening bell, while Charles Schwab and Discover Financial will also release their earnings. Interactive Brokers posted weaker-than-expected Q4 earnings, and Progress Software reported strong Q4 results and provided FY24 guidance.

Portfolio Pulse from Avi Kapoor

January 17, 2024 | 7:11 am

ETH-USD

TIA-USD

Ethereum co-founder Vitalik Buterin clarified that validiums are not genuine rollup solutions for Ethereum scaling. He responded to Daniel Wang's suggestion that rollups using another data chain for data availability could be classified as validiums. Buterin emphasized that validiums lack the security assurance of rollups. The debate continues within the Ethereum community, with Ryan Berckmans arguing that validiums are indeed layer 2 solutions. Meanwhile, Ethereum's price saw a slight decline.

Portfolio Pulse from Mehab Qureshi

January 17, 2024 | 7:02 am