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Corporate Responsibility

CYD

EAF

KITT

SFWL

VLD

The article highlights the top 5 oversold industrial stocks with an RSI near or below 30, suggesting potential undervaluation. Nauticus Robotics (KITT) disclosed a $34 million acquisition deal. China Yuchai (CYD) won a significant order. Velo3D (VLD) announced a CEO change. Shengfeng Development (SFWL) saw a 68% drop in shares over five days. GrafTech International (EAF) reported disappointing Q3 results.

Portfolio Pulse from Avi Kapoor

December 19, 2023 | 12:14 pm

TSLA

Senator Richard Blumenthal criticizes Tesla's recall of over 2 million vehicles for Autosteer issues as insufficient and urges the NHTSA to take stronger action. Blumenthal highlights safety concerns with Tesla's Autopilot and references Elon Musk's previous mocking of the NHTSA. The conflict between Musk and regulators is escalating, with Musk recently criticizing the FCC and alleging political targeting by the Biden administration. Despite direct sales bans in some states, Tesla opened a sales center in Connecticut on tribal land.

Portfolio Pulse from Anan Ashraf

December 19, 2023 | 12:13 pm

DNA

FGen AG, a subsidiary of Ginkgo Bioworks, has been awarded funding by the European Innovation Council's Pathfinder Programme to develop a sustainable method for producing milk protein. The project aims to create an alternative to traditional milk production by engineering bacteria to convert CO2 and electricity into whey protein, which could significantly impact the sustainable bioproduction of food, medicine, and chemicals.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:10 pm

DNA

Ginkgo Bioworks has been awarded funding by the U.S. Department of Energy to develop algal crop protection solutions. This initiative is part of a broader effort to enhance agricultural sustainability and productivity through innovative biotechnology.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 12:09 pm

BUD

CABGY

HEINY

Anheuser-Busch InBev SA (NYSE:BUD) has agreed to transfer its stake in a Russian joint venture to Anadolu Efes, a Turkish partner, without immediate payment. Future compensation will depend on the venture's performance, with the transaction valued between $1.1 billion and $1.3 billion. This divestment is part of a broader trend of European companies leaving Russia due to geopolitical tensions. Carlsberg A/S (OTC:CABGY) and Heineken N.V. (OTC:HEINY) have also exited the Russian market, with Carlsberg's local unit seized by Russia and Heineken selling its business at a loss. BUD shares saw a slight increase of 0.30% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 19, 2023 | 11:48 am

FSR

Fisker is enhancing its service capabilities and staffing across the US and Canada, with nearly 100 technicians now available in 20 US states and two Canadian provinces. The company is also expanding its service leadership team and plans to offer access to over 100 collision repair shops. Additionally, Fisker is implementing OTA software updates for all Fisker Ocean SUVs.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 11:32 am

SCKT

Socket Mobile has launched a recycling center and outlet store where customers can recycle or trade in old units and buy refurbished data capture devices at lower prices.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 11:08 am

AUDVF

BMWYY

DDAIF

VWAGY

Audi AG's CEO Gernot Döllner announced a delay in EV launches to avoid production and sales bottlenecks. Despite slow growth in sales and issues with the Q6 e-tron model, Audi aims to introduce 20 new models by 2026, with half being fully electric. The Q6 e-tron is expected to launch in Q2, followed by more models in the next year. Audi, part of Volkswagen AG, faces competition from Mercedes-Benz and BMW, and broader industry challenges in marketing EVs. Döllner is confident in Audi's diversified portfolio of EVs, plug-in hybrids, and combustion engines.

Portfolio Pulse from Benzinga Neuro

December 19, 2023 | 11:04 am

OPT

Opthea, a biotech company, has received an R&D tax credit of A$8.8 million (approximately $5.9 million) from the Australian Taxation Office. This financial boost acknowledges the company's research and development efforts.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 11:02 am

AMZN

DBX

MSFT

Dropbox Inc. (DBX) introduced an AI-powered search feature for subscribers, developed in partnership with OpenAI, backed by Microsoft Corp. (MSFT). The feature, enabled by default, raised privacy concerns among users, including Amazon.com Inc.'s (AMZN) CTO Werner Vogels. Dropbox CEO Drew Houston denied sharing user data with third parties, but the option to disable the AI search has been hidden, causing further controversy.

Portfolio Pulse from Rounak Jain

December 19, 2023 | 11:02 am