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TSLA

Tesla shares fell on Monday despite broader market gains. Fund manager Gary Black dismissed concerns over shareholders potentially rejecting CEO Elon Musk's compensation plan, calling it 'insane fear-mongering.' Black expects shareholders to approve the plan in 2024, as they did in 2018. Black's Future Fund Active ETF holds Tesla shares, though at a reduced weighting compared to earlier this year. Tesla's plan to seek reapproval for Musk's 2018 compensation plan has met mixed reactions, with some fearing Musk might leave if not approved.

Portfolio Pulse from Shanthi Rexaline

May 21, 2024 | 6:33 am

AZN

AstraZeneca aims to achieve $80 billion in revenue by 2030 through the launch of 20 new medicines, significant growth in oncology, biopharmaceuticals, and rare disease portfolios, and investments in disruptive innovation. The company also plans to decouple carbon emissions from revenue growth.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 6:13 am

SNY

Sanofi, Formation Bio, and OpenAI have announced a collaboration to develop AI-powered software aimed at accelerating drug development and enhancing patient access to new medicines. Sanofi will provide proprietary data to develop AI models, aiming to become the first biopharma company powered by AI at scale.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 5:48 am

IBM

IBM has introduced new developments in its watsonx platform, including open-source releases, new product innovations, and ecosystem collaborations. Key highlights include the release of IBM Granite models into open source, the launch of InstructLab with Red Hat, and strengthened collaborations with major tech companies to enhance AI capabilities.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 5:02 am

BHP

HL

NUE

STLD

X

Nippon Steel is pushing for a $14.1 billion acquisition of U.S. Steel despite opposition from union leaders and the Biden administration. Hecla Mining released its 2023 Sustainability Report highlighting ESG achievements. BHP's $43 billion bid for Anglo American faces challenges. Jefferies initiated coverage on Steel Dynamics and Nucor with Hold ratings.

Portfolio Pulse from Austin DeNoce

May 20, 2024 | 9:48 pm

TUYA

Tuya is confident in its business prospects due to a stabilizing macroeconomic environment and normalizing downstream inventory levels, indicating a positive industry trajectory.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 9:40 pm

FWRD

Forward Air has appointed Jamie G. Pierson as Interim CFO, effective May 20, 2024, following the departure of Rebecca Garbrick.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 9:29 pm

KBE

KRE

SPY

XLF

FDIC Chair Gruenberg has announced his intention to resign once his successor is confirmed. This follows a call for new leadership by the Senate Banking Committee Chairman.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 8:54 pm

PTON

Peloton Interactive Inc (NASDAQ:PTON) shares dropped 8.4% in after-hours trading following the announcement of a global refinancing initiative. The company plans to offer $275 million in convertible senior notes due 2029 and enter into a $1 billion term loan facility and a $100 million revolving credit facility. Proceeds will be used to repurchase $800 million of its 0.00% convertible senior notes due 2026 and refinance existing loans. This follows a recent CEO transition and restructuring efforts aimed at reducing costs.

Portfolio Pulse from Adam Eckert

May 20, 2024 | 8:39 pm

HNI

HNI Corporation announced the closure of its Hickory plant, which is expected to impact approximately 200 production and operations members.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 8:32 pm