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ALPN

Alpine Immune Sciences has started an underwritten public offering of $150M of its common stock. The underwriters are expected to be granted an option to purchase up to an additional $22.5M of shares at the public offering price, less the underwriting discounts and commissions.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 11:01 am

TM

TSLA

Toyota Motor Corp (NYSE:TM) is reportedly striving to match the production pace of Tesla Inc (NASDAQ:TSLA) in the EV market. Toyota is making progress in solid-state battery technology and investing in the US EV market, but is challenged by Tesla's gigacasting assembly process. Toyota has stated it will not fully embrace Tesla’s gigacasting technique, instead leveraging its expertise to carve out its unique path.

Portfolio Pulse from Anan Ashraf

November 06, 2023 | 11:00 am

CLX

UBS analyst Peter Grom has upgraded Clorox (NYSE:CLX) from Sell to Neutral and raised the price target from $124 to $132.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 10:20 am

AAPL

TSLA

Charlie Munger, Vice Chairman of Berkshire Hathaway, expressed confidence in Apple Inc. despite its high valuation. Tesla Inc.'s CEO, Elon Musk, stated that none of his companies would create cryptocurrency tokens. Musk also praised Tesla's Giga Berlin factory, hinting that affordable electric vehicles would be manufactured there. Economist Peter Schiff warned of a potential surge in inflation rates due to the weakening dollar.

Portfolio Pulse from Benzinga Neuro

November 06, 2023 | 10:03 am

AAPL

BRK

Berkshire Hathaway, led by Warren Buffett, reported a 41% YoY increase in Q3 operating earnings, despite a widened net loss due to increased investment and derivative trading losses. The company's cash reserves reached a record $157.241 billion at the end of Q3, up from $147.38 billion at the end of Q2. Berkshire's leading portfolio investment is Apple, which accounted for 37.35% of the aggregate fair value of its investments. Apple's cash holdings at the end of Q3 amounted to $162.10 billion.

Portfolio Pulse from Shanthi Rexaline

November 06, 2023 | 10:02 am

GLD

Cathie Wood of Ark Investment Management has expressed concerns about bond yields and the current monetary policy. She believes the economy is in a 'rolling recession' and expects long-term interest rates to drop below 2%. Wood also noted that the U.S. federal deficit is at about 6% of nominal GDP and suggested that rapid growth, similar to the 80s and 90s, could help contain the deficit. The SPDR Gold Shares (NYSE:GLD) ended Friday’s session up 0.36% at $184.79.

Portfolio Pulse from Shanthi Rexaline

November 06, 2023 | 7:46 am

AAPL

CEG

DISH

GT

NXPI

PSX

US stocks closed higher on Friday, with major indices recording their best week in 2023 following the release of October's jobs data. The US economy added 150,000 jobs in October, less than the market estimate of 180,000. The Federal Reserve maintained interest rates for a second consecutive time. Apple reported stronger-than-expected Q4 earnings and sales, while Phillips 66 posted downbeat Q3 earnings. Investors are awaiting earnings results from DISH Network, Constellation Energy, NXP Semiconductors, and The Goodyear Tire & Rubber Company.

Portfolio Pulse from Lisa Levin

November 06, 2023 | 7:14 am

TS

Tenaris (TS) has announced the commencement of the first tranche of its $1.2 billion share buyback program, with an initial $300 million to be spent.

Portfolio Pulse from Benzinga Newsdesk

November 06, 2023 | 6:27 am

TSLA

Tesla CEO Elon Musk has suggested that the company's future robotaxis could be used for distributed computing applications, such as those used by the Search for Extraterrestrial Intelligence (SETI). Musk envisions the integration of his 'Grok' AI chatbot with Tesla's electric vehicles, which could be used to run inference for Grok queries when not in use for driving. Musk has been promoting the idea of fully autonomous Tesla vehicles functioning as robotaxis since 2019 and predicts volume production of Robotaxis in 2024.

Portfolio Pulse from Anan Ashraf

November 06, 2023 | 5:19 am

META

NVDA

Chinese startup 01.AI, founded by former Google China President Kai-Fu Lee, has achieved a $1 billion valuation in less than eight months. The company's open-source AI model, Yi-34B, has outperformed Meta Platforms Inc.'s Llama 2 on certain metrics. Despite the US ban on selling Nvidia Corp.'s advanced AI semiconductors to Chinese customers, 01.AI has stockpiled the chips it needs for the foreseeable future.

Portfolio Pulse from Benzinga Neuro

November 06, 2023 | 3:47 am