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EWA

Australia's Producer Price Index (PPI) increased to 4.1% year-over-year, surpassing the previous 3.8%. This indicates higher production costs, potentially affecting companies with significant operations in Australia.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 5:37 am

EWA

Australia's Producer Price Index (PPI) for the quarter increased by 0.9%, which is lower than the estimated 1.9% and the previous quarter's 1.8%. This indicates a slowdown in the growth of prices at the producer level in Australia.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 5:36 am

AAPL

AMZN

GOOG

GOOGL

META

MSFT

NVDA

QQQ

TSLA

Meta Platforms, Inc. (META) announced a quarterly cash dividend of 50 cents per share, marking its entry into dividend distribution 12 years after its IPO. This move led to a 15% surge in Meta shares during after-hours trading. Meta joins the 'Magnificent Seven' tech companies paying dividends, alongside Apple (AAPL), Nvidia (NVDA), and Microsoft (MSFT). However, Tesla (TSLA), Amazon (AMZN), and Alphabet (GOOG/GOOGL) have not initiated dividend policies. Meta's decision is backed by its strong financials, with $64.5 billion in cash and $43 billion in free cash flow in 2023. Additionally, Meta announced a new $50 billion share repurchase authorization.

Portfolio Pulse from Shanthi Rexaline

February 02, 2024 | 5:36 am

AAPL

Jim Cramer expressed concerns over Apple's performance in China, highlighting a revenue decline in the market. Despite Apple Inc. (NASDAQ:AAPL) reporting an overall increase in its first-quarter earnings, with record Services and iPhone revenue, the company saw a 12.9% sales decline in China. This downturn in the Chinese market, a critical region for Apple, led to a slide in the stock's after-hours trading.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 5:25 am

General Motors Co (NYSE:GM) CEO Mary Barra announced the company has 100,000 reservations for its electric pickups, signaling strong interest. GM plans to produce 200,000 to 300,000 Ultium-based EVs in North America by 2024, depending on demand. The company aims to be variable profit positive in the U.S. EV sector in the second half of the year, attributing this to strong interest and lower commodity prices. Despite concerns over slowing EV growth, GM remains committed to phasing out combustion engine light-duty vehicle sales by 2035, adjusting production based on demand.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 5:11 am

META

Meta Platforms Inc (NASDAQ:META) has announced its first-ever quarterly cash dividend of 50 cents per share, starting in March. This move is expected to yield CEO Mark Zuckerberg an estimated $700 million annually, based on his 350 million shares. The decision reflects Meta's growth outlook, despite the tech firm's reduced acquisition opportunities due to regulatory challenges. Meta's focus shift and a $50 billion share buyback plan have contributed to its stock nearly tripling in value in 2023. Additionally, Meta reported a 25% year-over-year increase in fourth-quarter revenue to $40.11 billion, surpassing consensus estimates.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 4:37 am

NTLA

RKLB

TSLA

TWLO

TXG

Cathie Wood's Ark Invest purchased $4.7 million in Tesla Inc (TSLA) shares and an equal amount in Rocket Lab USA Inc (RKLB) shares, showing confidence in both companies. The Tesla shares were bought through ARK Innovation ETF (ARKK) and ARK Next Generation Internet ETF (ARKW), while Rocket Lab shares were acquired via ARK Autonomous Technology & Robotics ETF (ARKQ) and ARK Space Exploration & Innovation ETF (ARKX). Additionally, Ark Invest sold shares in Twilio Inc (TWLO) and Zoom Video Communications (ZM), and bought more shares in 10X Genomics Inc (TXG) and Intellia Therapeutics Inc (NTLA).

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 4:18 am

AAPL

AMZN

META

TEAM

TSLA

Tech giants Apple, Meta Platforms, Amazon, Atlassian, and Tesla were in focus as U.S. stocks closed higher, driven by their earnings releases. Apple and Meta beat earnings expectations, Amazon reported a revenue increase, Atlassian surpassed earnings and sales forecasts but saw its stock decline, and Tesla announced a shareholder vote on moving its incorporation to Texas.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 3:15 am

META

Senate Judiciary Committee Chair Dick Durbin criticized Meta Platforms CEO Mark Zuckerberg for downplaying the impact of social media on mental health, comparing him to tobacco executives. Durbin's remarks followed Zuckerberg's statement denying a causal link between social media use and negative mental health outcomes. The criticism comes amid a Senate hearing on child safety online, where social media executives were questioned. Despite the controversy, Meta Platforms reported a 25% year-over-year increase in fourth-quarter revenue to $40.11 billion, beating estimates and causing its stock to surge 15.22% in after-hours trading.

Portfolio Pulse from Navdeep Yadav

February 02, 2024 | 2:24 am

API

NYCB

The commercial real estate sector's struggles have led to a significant drop in regional bank stocks, highlighted by New York Community Bancorp, Inc.'s (NYCB) 40% drop due to a Q4 loss from distressed loans. Other banks like Agora Inc (API) and Deutsche Bank AG (DB) also faced declines. The looming $2.2 trillion debt in the US commercial property sector threatens smaller banks, with some offloading property loan portfolios to reduce exposure.

Portfolio Pulse from Benzinga Neuro

February 02, 2024 | 2:22 am