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The U.S. Supreme Court has declined to hear an appeal by Epic Games in its antitrust case against Apple, effectively upholding lower court decisions. This development is a setback for Epic Games, which had challenged Apple's App Store policies, alleging they constitute monopolistic practices. The refusal to hear the case means that Apple's current App Store model, including its payment systems and commission structure, remains intact without further legal challenge from this case.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:36 pm

Goldman Sachs Group Inc (NYSE:GS) reported a Q4 2023 GAAP EPS of $5.48, beating the consensus of $3.43. Despite a 24% Y/Y dip in net income for fiscal 2023, Q4 net income rose 51% to $2 billion. Q4 revenue was $11.32 billion, up 7% Y/Y, with Asset & Wealth Management revenue increasing 23% Y/Y to $4.39 billion. The firm hit its $225 billion alternatives fundraising target. GS shares rose 0.25% to $378.69.

Portfolio Pulse from Vandana Singh

January 16, 2024 | 2:35 pm

DWAC

Shares of Digital World Acquisition Corp (NASDAQ:DWAC) rose after former President Donald Trump won the Iowa caucus with 51% of the vote. Trump's victory margin set a new record for the Iowa Republican caucus. Digital World is a SPAC planning to merge with Trump Media & Technology Group, which operates the Truth Social app. Trump's lead in the Republican primary race and his association with Digital World likely contributed to the stock's positive movement.

Portfolio Pulse from Adam Eckert

January 16, 2024 | 2:31 pm

ANSS

SNPS

ANSYS shares are trading lower after an agreement was made for Synopsys to acquire the company. Ansys shareholders will receive $197 in cash and 0.3450 shares of Synopsys stock per Ansys share.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:30 pm

VXRT

Vaxart's President and CEO Andrei Floroiu has resigned from his position. Michael J. Finney, Ph.D., the Chair of Vaxart, will take over as the Interim CEO.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:29 pm

UNH

Stephens & Co. analyst Scott Fidel has maintained an Overweight rating on UnitedHealth Group (NYSE:UNH) but reduced the price target from $615 to $605.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:28 pm

SHEL

Shell PLC (NYSE:SHEL) has agreed to sell its Nigerian onshore subsidiary, The Shell Petroleum Development Company of Nigeria Limited (SPDC), to Renaissance, a consortium of five companies, for $1.3 billion. Additional payments to Shell could reach $1.1 billion related to receivables and cash balances. The deal aims to preserve SPDC's operational capabilities and Shell will continue to support SPDC JV facilities supplying gas to Nigeria LNG. Shell's stock is trading lower by 1.13% at $63.08 in premarket.

Portfolio Pulse from Shivani Kumaresan

January 16, 2024 | 2:22 pm

ANSS

SNPS

ANSYS, Inc. (ANSS) shares have declined following the announcement that Synopsys, Inc. (SNPS) will acquire ANSS for $19 billion, representing a 29% premium.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:21 pm

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Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 2:15 pm

Boeing Co (NYSE:BA) stock is trading lower due to additional quality inspections required for its 737 MAX jets after a cabin panel incident on an Alaska Airlines flight. Boeing plans to oversee work at Spirit AeroSystems and conduct checks at 50 other points. The FAA extended grounding orders for Boeing Max 9s, and United and Alaska Airlines canceled flights. Additionally, Wells Fargo downgraded Boeing from Overweight to Equal-Weight and lowered the price target from $280 to $225.

Portfolio Pulse from Adam Eckert

January 16, 2024 | 2:15 pm