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BAC

Bank of America Corporation (NYSE:BAC) has laid off around 20 bankers in Asia, primarily in Hong Kong, amid stock market downturns in China and Hong Kong. The layoffs follow the company's mixed Q4 financial results with a 10% year-over-year revenue decline. CEO Brian Moynihan remains optimistic about the recovery of commercial loan demand and downplays the risk of a commercial real estate market crash.

Portfolio Pulse from Nabaparna Bhattacharya

January 23, 2024 | 12:26 pm

GBDC

Raymond James analyst Robert Dodd has reaffirmed an Outperform rating on Golub Capital BDC (NASDAQ:GBDC) and increased the price target from $16 to $16.5.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:24 pm

TTE

TotalEnergies SE (NYSE:TTE) acquired German battery storage developer Kyon Energy for €90 million plus earn-out payments. Kyon Energy has 770 MW of projects in various stages of development. This acquisition aligns with TotalEnergies' integrated power strategy and contributes to its profitability target of 12% ROACE by 2028. Additionally, TotalEnergies entered a deal with European Energy for offshore wind projects in Denmark, Finland, and Sweden, totaling 405 MW under development. This deal complements a previous agreement for onshore renewable projects and supports TotalEnergies' expansion in northern Europe. TTE shares saw a slight premarket decrease of 0.40%.

Portfolio Pulse from Lekha Gupta

January 23, 2024 | 12:15 pm

GBTC

Bitcoin's price has dropped below $39,000, erasing gains from the last two months since the U.S. launch of spot ETFs. The sell-off is partly due to the FTX bankruptcy estate selling shares of Grayscale's GBTC. Analysts suggest the ETF approval might mark a short- to mid-term price peak. Trading volume and circulating supply of Bitcoin have also decreased, while Peter Schiff comments on the bear market for Bitcoin ETFs.

Portfolio Pulse from Benzinga Neuro

January 23, 2024 | 12:14 pm

HWM

Keybanc analyst Philip Gibbs has maintained an Overweight rating on Howmet Aerospace (NYSE:HWM) and increased the price target from $52 to $60, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:11 pm

CYN

Cyngn Inc. (CYN) has announced significant milestones and achievements for 2023, including deployments, paid projects with global customers, and strategic partnerships. These developments are aimed at enhancing its AI and robotics technologies for autonomous vehicles, setting the stage for a transformational year in 2024.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:07 pm

VZ

Verizon forecasts a total wireless service revenue growth of 2-3.5% for the year 2024.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:05 pm

VZ

Verizon forecasts its adjusted earnings per share (EPS) for 2024 to be in the range of $4.50 to $4.70, which compares to the estimated $4.59 by analysts.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:04 pm

VZ

Verizon reported Q4 total wireless postpaid phone net additions of 449K, a significant increase from 217K in the same quarter of the previous year.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:04 pm

VZ

Verizon has reported a 26% year-over-year increase in total wireless postpaid net additions for 2023, indicating a significant growth in its customer base.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 12:03 pm