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TRIP

TripAdvisor, Inc. (NASDAQ:TRIP) shares plummeted over 30% in premarket trading following its Q1 results announcement. Despite beating earnings and revenue expectations with a 6% year-over-year revenue increase and a 42% jump in adjusted EBITDA, the company faces a significant income tax expense of $42 million for Q1 2024 and anticipates a net operating cash outflow of $110 to $120 million in Q2 2024 due to a tax settlement. Additionally, TripAdvisor's special committee sees no potential transaction with a third party, despite previous discussions.

Portfolio Pulse from Nabaparna Bhattacharya

May 08, 2024 | 1:11 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) shares dropped following reports of U.S. prosecutors investigating whether the company misled investors and customers about its self-driving technology. The Justice Department is examining statements by Tesla and CEO Elon Musk regarding the full self-driving capabilities, amid concerns of potential wire and securities fraud. This investigation, also involving the SEC, follows Tesla's disclosure of the DOJ's request for information on its Full Self-Driving technology. Despite recent pressure on shares, Musk remains optimistic about Tesla's future in autonomy and robotaxis.

Portfolio Pulse from Adam Eckert

May 08, 2024 | 12:53 pm

TSLA

Tesla shares are trading lower following a report that U.S. prosecutors are investigating whether the company misled investors and customers about its self-driving technology.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 12:53 pm

TSLA

US prosecutors are investigating Tesla's Autopilot system, focusing on potential securities and wire fraud. This probe could have significant implications for Tesla's reputation and investor confidence.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 12:24 pm

GDNSF

VRNOF

Goodness Growth Holdings, Inc. reported a 16% YoY revenue increase in Q1 2024, with net revenue reaching $24.09 million. The company highlighted improvements in operating and financial performance, notably due to the start of adult-use sales in Maryland. Goodness Growth is progressing in its New York divestiture with Ace Venture Enterprises and anticipates approval for wholesale sales into the adult-use market. The company also reported a net loss decrease and a significant EBITDA gain compared to the previous year. Additionally, Goodness Growth is in legal action against Verano Holdings, Inc. for the wrongful termination of a merger agreement, seeking damages of approximately $860.9 million.

Portfolio Pulse from Nina Zdinjak

May 08, 2024 | 11:25 am

FSRN

MGA

Fisker Inc's Austrian unit, Fisker GmbH, has filed for bankruptcy protection in Austria, aiming to restructure and protect its business. This move does not affect other Fisker entities. The company has been facing financial difficulties, with its shares delisted from the NYSE and a significant cash shortage. Fisker manufactures its Ocean SUV at Magna International's plant in Graz, Austria.

Portfolio Pulse from Anan Ashraf

May 08, 2024 | 11:01 am

AZN

AstraZeneca (NASDAQ:AZN) has announced the global discontinuation of its COVID-19 vaccine, Vaxzevria, citing an oversupply of updated vaccines. The company has begun withdrawing the vaccine, halting production and supply due to reduced demand. This decision follows the acknowledgment of potential blood clotting side effects. Despite this, AstraZeneca reported a 17% increase in first-quarter sales to $12.68 billion, driven by product sales and alliance revenue, and is shifting focus towards respiratory and obesity drugs.

Portfolio Pulse from Benzinga Neuro

May 08, 2024 | 10:23 am

TSLA

Tesla Inc (NASDAQ:TSLA) will shut down its Berlin gigafactory for only one day this week, contrary to initial reports of a four-day halt. The brief shutdown, confirmed by Senior Director of Manufacturing Andre Thierig, is due to protests against the company's expansion efforts. Despite challenges, including a recent arson attack and local opposition to factory expansion, Tesla aims to double the plant's capacity. Tesla's new car registrations in the EU fell by 4.7% in Q1.

Portfolio Pulse from Anan Ashraf

May 08, 2024 | 6:22 am

CMCSA

Stormy Daniels testified against Donald Trump in a criminal trial, alleging he falsified business records to hide payments made to her. Daniels discussed details of their encounter and expressed a desire for Trump to be held accountable and potentially face jail time. Trump's lawyers argued for a mistrial, citing prejudicial testimony, but the motion was denied. Daniels also mentioned a payment for the licensing rights to her story for a documentary on Peacock, owned by Comcast Corporation (NASDAQ:CMCSA). Another Trump trial in Florida was postponed indefinitely.

Portfolio Pulse from Chris Katje

May 07, 2024 | 10:27 pm

DJT

SPY

The trial regarding Donald Trump's handling of classified documents has been postponed indefinitely, according to a report from CNBC. This development could have implications for the political landscape and potentially impact market sentiment.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 9:03 pm