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AAPL

AMZN

NFLX

RIVN

TSLA

Benzinga's weekly review highlights significant movements in the stock market and bullish and bearish perspectives on several US-listed companies. The Nasdaq, S&P 500, and Dow Jones all experienced losses, with the Nasdaq dropping 3.25%. Strong U.S. job market data may influence the Federal Reserve's interest rate decisions. Bullish reports include Tesla's Model Y becoming the bestselling EV, Amazon being a top pick for 2024, and optimistic Bitcoin predictions. Bearish news includes a $250 billion loss in market cap for tech giants like Apple and Amazon, Cloudflare's CEO criticizing Rivian's high repair costs, and streaming services like Netflix facing increased subscription cancellations.

Portfolio Pulse from Michael Cohen

January 06, 2024 | 1:22 pm

CMCSA

NTDOY

SONY

Following the success of 'The Super Mario Bros. Movie,' which grossed over $1 billion, Nintendo Co (OTC:NTDOY) is hinted to be exploring more film projects. Shigeru Miyamoto, Mario's creator, is considering unique opportunities for Nintendo in movies and amusement parks. Comcast Corporation (NASDAQ:CMCSA), through Universal Pictures, distributed the Mario movie. A 'The Legend of Zelda' live-action film, a collaboration between Nintendo and Sony Group Corp (NYSE:SONY), has also been announced. The success of the Mario movie and potential sequels or spinoffs could positively impact Nintendo's stock, which has seen a 21% increase over the last year.

Portfolio Pulse from Chris Katje

January 06, 2024 | 1:19 pm

CMCSA

DIS

DKNG

PDYPY

The final week of the NFL season is approaching with playoff spots on the line. ESPN, ABC, and ESPN+ will air two games on Saturday, while NBC will broadcast the Sunday Night Football game. The NCAA Football Championship will see Michigan face Washington. The Detroit Pistons ended their 28-game losing streak. Big bets at FanDuel included a 35-cent bet turning into $100 and a $5 bonus bet into $3,396.92. Bet365 shared the most bet-on teams and players in various sports, highlighting the impact of Lionel Messi's move to MLS on soccer betting.

Portfolio Pulse from Chris Katje

January 06, 2024 | 1:10 pm

BLK

BTCUSD

GBTC

Better Markets CEO Dennis M. Kelleher has warned the SEC that approving a spot Bitcoin ETF would be a 'historic mistake' and could lead to 'massive investor harm.' Bloomberg ETF analyst James Seyffart criticized Kelleher's stance, calling it a 'criminal move.' The SEC is set to decide on the Bitcoin ETF by Jan. 10, with 11 applicants having submitted amendment forms. BlackRock Inc. and Grayscale Investments have met with the SEC to discuss Bitcoin ETFs. BTC's price was slightly up at the time of reporting.

Portfolio Pulse from Rounak Jain

January 06, 2024 | 10:02 am

IBKR

Thomas Peterffy, billionaire founder of Interactive Brokers, shared his worst trade involving DuPont de Nemours Inc. (NYSE:DD), where he lost $80,000, half his capital at the time, due to impatience and a mistake in option trading. He also discussed his investment philosophy, emphasizing logic and independent research over secrets or advice from books.

Portfolio Pulse from Rounak Jain

January 06, 2024 | 9:02 am

BLK

GBTC

A Bitwise and VettaFi survey reveals only 39% of financial advisors believe the SEC will approve a spot Bitcoin ETF in 2024. Firms like BlackRock, VanEck, and Valkyrie Investments await the SEC's decision on their applications. Despite Bloomberg analysts' 90% approval prediction, advisors are cautious, with 88% indicating approval would be a significant trigger for Bitcoin investment. Currently, only 19% of advisors can buy crypto on client accounts, but 98% of those investing in crypto plan to maintain or increase their exposure in 2024. The SEC's deadline for final amendments was Dec. 29, 2023, and Peter Schiff warns of potential market reactions to the approval news.

Portfolio Pulse from Rounak Jain

January 06, 2024 | 4:27 am

CHK

CVX

EQT

HES

OXY

PXD

SWN

XOM

Southwestern Energy Co. (SWN) and Chesapeake Energy Corp. (CHK) are reportedly close to finalizing a merger to create a $17 billion natural gas giant. The merger could make the combined entity one of the largest gas producers in the U.S. Southwestern's stock rose over 7%, and Chesapeake's shares gained over 2% following the news. The merger is part of a trend of energy industry consolidations, with recent deals involving Exxon Mobil (XOM), Chevron (CVX), and Occidental Petroleum (OXY).

Portfolio Pulse from Rounak Jain

January 06, 2024 | 2:30 am

EIGR

Trading on Eiger BioPharmaceuticals, Inc. (EIGR) was halted at 7:50:00 p.m. ET due to pending news. The halt is in place to ensure a fair and orderly market until the pending news is released to the public.

Portfolio Pulse from Benzinga Newsdesk

January 06, 2024 | 12:50 am

BLK

FNF

The U.S. SEC has indicated that issuers of spot Bitcoin ETFs can submit their final 19b-4 filings, which are proposals for rule changes on stock exchanges, as soon as Friday. SEC commissioners are expected to vote on these filings next week. Additionally, issuers need SEC approval for their S-1 filings and ETF prospectus documents. The approval of 19b-4 and S-1 forms may not occur simultaneously, with a gap of days expected between them. Once the S-1 is approved, trading can commence on the next business day. BlackRock, Fidelity, Grayscale, VanEck, Valkyrie, and 21Ark have made recent filings. Bloomberg analyst Eric Balchunas commented that the 19b-4 filings might not pass until Jan. 10 and S-1 approvals could extend to Jan. 16 or later.

Portfolio Pulse from Khyathi Dalal

January 05, 2024 | 10:15 pm

CNEY

CN Energy Group, Inc. (CNEY) received a delisting notification from Nasdaq due to non-compliance with the minimum bid price requirement. The company's stock had a closing bid price of $0.10 or less for ten consecutive days. CNEY has requested a hearing to appeal the delisting, which will stay the suspension and Form 25-NSE filing pending the Panel's decision. There is no assurance of a successful outcome for the appeal.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 10:03 pm