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ARKK

ARKQ

TSLA

Ark Invest, led by Cathie Wood, has continued to reduce its stake in Tesla, Inc. (NASDAQ:TSLA), selling 76,425 shares worth approximately $18.75 million. This is part of a selling streak that began in mid-June, with a total of 883,816 shares sold since then. Despite this, Tesla remains the top holding in Ark's flagship Ark Innovation ETF (NYSE:ARKK) and Ark Autonomous Technology & Robotics ETF (NYSE:ARKQ). The selling comes despite Ark's continued bullish stance on Tesla, with a 2027 price target of $2,000.

Portfolio Pulse from Shanthi Rexaline

August 11, 2023 | 5:11 am

OKE

ONEOK has priced its offering to sell $5.25 billion of senior notes. The offering includes $750 million of 3-year notes at 5.550%, $750 million of 5-year notes at 5.650%, $500 million of 7-year notes at 5.800%, $1.50 billion of 10-year notes at 6.050%, and $1.75 billion of 30-year notes at 6.625%.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 5:08 am

YCBD

cbdMD, Inc. (AMEX:YCBD) (NYSE:YCBD) reported Q3 2023 financial results, showing improved net loss and focus on cost management and strategic growth. Net sales were flat from Q2 2023 at $6.1 million, down 28% YoY. Direct-to-consumer sales decreased by 26% from 2022, while e-commerce sales increased by 2.3%. The company reported a net loss of $1.7 million, a significant improvement from the $31.6 million net loss in Q3 2022. The company also completed a 1-for-45 reverse stock split and raised $2.8 million in a public offering.

Portfolio Pulse from Joana Scopel

August 10, 2023 | 11:25 pm

ORCL

Larry Ellison, co-founder and executive chairman of Oracle Corporation (NYSE:ORCL), is backing Sen. Tim Scott for the 2024 Republican presidential nomination. Ellison is reportedly planning to make an eight-figure donation to a political action committee connected to Scott's campaign. This could potentially be the largest contribution in the 2024 Republican presidential primary so far.

Portfolio Pulse from Chris Katje

August 10, 2023 | 10:29 pm

ACHR

BA

Archer Aviation has announced a $215 million investment, causing its shares to trade higher. The company also announced a litigation settlement and collaboration with Wisk Aero and Boeing.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 9:17 pm

CANO

Cano Health, Inc. (NYSE:CANO) reported worse-than-expected Q2 results, with losses of 51 cents per share, missing the analyst consensus estimate of losses of 12 cents. The company also reported quarterly sales of $766.70 million, missing the analyst consensus estimate of $828.43 million. Despite missing top and bottom line estimates, total membership increased. Cano Health is considering selling the company and plans to exit operations in California, New Mexico, and Illinois by fall 2023, and Puerto Rico by January 1, 2024. The company is also withdrawing its fiscal year 2023 guidance.

Portfolio Pulse from Ryan Gustafson

August 10, 2023 | 9:16 pm

ARKK

BA

STLA

UAL

Archer, a company developing electric vertical takeoff and landing aircraft, has announced a $215 million investment from several companies including Stellantis, Boeing, United Airlines, and ARK Invest.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 9:13 pm

FHTX

MRK

Foghorn Therapeutics has received a termination notice from Merck for their research collaboration and exclusive license agreement, effective November 7, 2023. Foghorn Therapeutics has received a total of $20M from Merck under the agreement.

Portfolio Pulse from Charles Gross

August 10, 2023 | 8:59 pm

ACHR

BA

Wisk Aero, Archer, and Boeing have reached an agreement to settle litigation and enter into a collaboration for autonomous flight. Archer will make Wisk its exclusive provider of autonomy technology for future aircraft variants. Boeing is investing in Archer to support the integration of Wisk's autonomous technology.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 8:57 pm

ACHR

BA

Wisk Aero, Archer, and Boeing have reached an agreement to settle litigation and enter into a collaboration for autonomous flight. Additionally, Boeing has invested in Archer's latest funding round, though the size of the investment was not disclosed.

Portfolio Pulse from Benzinga Newsdesk

August 10, 2023 | 8:56 pm