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TSLA

VFS

VinFast Auto Ltd. (VFS) is expanding its presence in the U.S. by building a $4 billion EV factory in North Carolina, challenging Tesla Inc. (TSLA). Despite Tesla's strong performance in 2023, its stock has declined by 16% in 2024. VinFast's stock surged by 1414.7%, indicating investor confidence. VinFast's CEO Pham Nhat Vuong, also the founder of VinGroup, has taken over as CEO to lead the company's growth.

Portfolio Pulse from Caleb Naysmith

January 30, 2024 | 1:00 pm

TSVT

2Seventy Bio has appointed William D. Baird III as its new President and CEO, succeeding Nick Leschly, who will now serve as the Chairman of the Board of Directors.

Portfolio Pulse from Charles Gross

January 30, 2024 | 12:55 pm

CVLT

Commvault (CVLT) reported strong fiscal 2024 third quarter results with total revenues of $216.8 million, an 11% increase YoY. The company's Annual Recurring Revenue (ARR) grew to $752 million, up 17% YoY, while subscription revenue rose 31% to $114.2 million. Subscription ARR also saw a significant increase of 29% to $571 million. Operating income (EBIT) was $21.1 million with a margin of 9.7%, and non-GAAP EBIT was $46.7 million with a 21.5% margin. Operating cash flow stood at $44.4 million, and free cash flow was $42.6 million. The company repurchased $51.3 million worth of shares, approximately 711,000 shares of common stock, during the quarter.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:53 pm

TSLA

VWAGY

Volkswagen AG (OTC:VWAGY) has postponed the sale of a stake in its battery unit, PowerCo, and its IPO due to a slowdown in the EV market. The company's preference shares fell by 1% after the news. VW is reevaluating its long-term funding plans for PowerCo, which was established to compete with Tesla Inc. (NASDAQ:TSLA) in the EV sector. Despite the delay, VW aims to be ready for investors from 2024. The EV market's slowdown is evident with VW-backed JAC's Yiwei EV, the first to use a sodium-ion battery, set to deliver in 2024, and QuantumScape Corp.'s shares, which VW is partnering with for solid-state batteries, pulling back after initial gains.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 12:19 pm

REGN

The article provides a correction regarding the ticker symbol for Regeneron, clarifying that the correct ticker is 'REGN'.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:08 pm

TSVT

2seventy bio has announced leadership changes with COO Chip Baird being named as the new CEO. Nick Leschly will take on the role of Chairman of the Board. Vicki Eatwell is set to become the CFO, and Jessica Snow will continue as senior vice president, quality and head of operations. Dan Lynch will resign from the Board in June but will remain as an advisor to the company.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:08 pm

TARO

Krensavage Asset Management, the largest minority shareholder of Taro Pharmaceutical Industries Ltd. (NYSE:TARO), has expressed opposition to Sun Pharmaceutical Industries Ltd.'s bid to acquire Taro. Krensavage deems the offer inadequate and has communicated this stance to the special committee evaluating the bid.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:07 pm

OSK

Oshkosh Corporation has declared a 12% increase in its quarterly cash dividend, raising it to $0.46 per share. This announcement reflects the company's confidence in its financial stability and commitment to delivering shareholder value.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:02 pm

JCI

Johnson Controls has announced that it is exploring strategic alternatives for its non-commercial businesses. This could include divestitures or spin-offs as the company seeks to streamline its operations and focus on its core commercial business.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:02 pm

WAL

Western Alliance (NYSE:WAL) has received mixed reviews from analysts over the past three months, with a total of 3 bullish, 1 somewhat bullish, and 1 indifferent rating. The average 12-month price target for WAL is $74.6, marking a 9.71% increase from the previous target of $68.00. Analysts from Wells Fargo, Citigroup, RBC Capital, and Truist Securities have raised their price targets, reflecting a positive outlook on the company's performance. Despite a revenue decline of -7.17% as of December 31, 2023, Western Alliance has strong profitability indicators such as a net margin of 26.85% and an exceptional ROE of 2.58%. However, the company's debt-to-equity ratio of 1.44 is higher than the industry average, suggesting higher financial risk.

Portfolio Pulse from Benzinga Insights

January 30, 2024 | 12:00 pm