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TSLA

The week ending October 13 saw a lackluster performance from electric vehicle (EV) stocks, with Tesla's Q3 margins causing concern among analysts. Rivian's stock is now seen as undervalued by some analysts, while Fisker is planning to expand into China. Lucid's delay in delivery has unnerved investors, and Ford is offering a $7,500 discount on its F-150 Lightning. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.

Portfolio Pulse from Shanthi Rexaline

October 14, 2023 | 1:18 pm

JPM

JPMorgan Chase & Co.'s CEO Jamie Dimon has voiced concern about intensifying global threats, including the ongoing war in Ukraine and recent attacks by Hamas on Israel, warning of their potential impacts on global energy and food markets, trade and geopolitical relationships. He also highlighted the mounting national debt and the possibility of sustained high inflation and interest rates. Despite the bank posting a profit of $13.15 billion for the third quarter, up 35% from a year ago, Dimon warned that the strong performance might not persist.

Portfolio Pulse from Benzinga Neuro

October 14, 2023 | 4:23 am

NVO

Novo Nordisk (NYSE:NVO) has revised its full-year sales and operating profit outlook for 2023 due to a surge in demand for its weight-loss drug Wegovy and diabetes medication Ozempic. The company now expects sales growth of 32% to 38% and operating profit growth of 40% to 46%. The updated forecast reflects higher expectations for Ozempic sales in the U.S. and adjustments for Ozempic and Wegovy sales in the U.S.

Portfolio Pulse from Benzinga Neuro

October 14, 2023 | 4:23 am

TSLA

A video of Tesla's Cybertruck and Semi 'racing' has resurfaced online as the company prepares for its Q3 earnings and the Cybertruck launch event. The video, which also features the Model S, 3, X, and Y, is believed to be a promotional shoot rather than a race. The Cybertruck and Semi were unveiled in 2019 and 2017 respectively, with the first Semi deliveries made to PepsiCo in December last year.

Portfolio Pulse from Anan Ashraf

October 14, 2023 | 3:09 am

EGO

Eldorado Gold Corporation has provided updates on the tax impacts in Turkey due to the weakening of the Turkish Lira. The company expects the Turkish current income tax expense on mining profits to decrease by up to $3 million in Q3, primarily due to reductions from the investment tax credit relating to Kisladag and Efemcukuru, increased depreciation impact of revaluated fixed assets and certain legislated discounts to the enacted rate. However, an incremental current tax charge of approximately $6.2 million will be recognized in Q3 and Q4 2023 due to the enacted rate change.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 9:10 pm

VWE

Vintage Vine Estates (VWE) has updated its fiscal 2024 outlook, expecting revenues of $260M-$270M, up from the previous estimate of $255.22M. The company attributes this to its restructuring and Five-Point Plan. Gross margin is expected to be around 38%, an 800 basis point improvement on lower volume. SG&A is expected to be around $98M, excluding restructuring costs. The company also expects to face restructuring charges of $5M-$6M.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:54 pm

VWE

Vintage Wine Estates (NASDAQ:VWE) reported Q4 losses of $(0.24) per share, missing the analyst consensus estimate of $(0.09) by 166.67%. This is a 241.18% decrease over earnings of $0.17 per share from the same period last year. The company also reported quarterly sales of $62.10 million, missing the analyst consensus estimate of $66.87 million by 7.13%. This is a 17.79% decrease over sales of $75.54 million the same period last year.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:53 pm

SDIG

Stronghold Digital Mining has projected its Bitcoin production for October 2023 to be between 205-215 Bitcoin, excluding any electricity sales. The company also anticipates over 20% average hash rate growth in Q4 of 2023 compared to Q3 of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:36 pm

SDIG

Stronghold Digital Mining, Inc. (NASDAQ:SDIG) announced that it mined 196 Bitcoin in September 2023, generating approximately $0.2 million in energy revenue. The company experienced an unplanned outage at its Scrubgrass power plant, affecting operations. However, it achieved an all-time-high hash rate of 3.5 exahash per second by the end of the month. Stronghold also entered into a Managed Services Agreement with Frontier Mining to optimize its data centers.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:35 pm

PFE

Pfizer has revised its FY23 adjusted diluted EPS guidance to $1.45-$1.65, down from the original range of $3.25-$3.45. The company also anticipates full-year 2023 revenues to be $58.0 to $61.0 billion, a decrease from the previous guidance of $67.0 to $70.0 billion. This is due to lower-than-expected revenues from its COVID products, Paxlovid and Comirnaty. Pfizer also recorded a non-cash charge of $5.5 billion due to inventory write-offs for these products. However, the company expects to deliver approximately $1.0 billion in savings in 2023 through its cost realignment program.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:34 pm