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TSLA

Tesla Inc. (NASDAQ:TSLA) has reduced the monthly subscription fee for its Full Self-Driving (FSD) package in the U.S. from $199 to $99, a move that contrasts with CEO Elon Musk's previous statements that the FSD price would increase as it approached full self-driving capability. This price cut follows Tesla's announcement that its cars have driven one billion miles using FSD software, amidst controversies and accusations of deceptive marketing practices by the California DMV.

Portfolio Pulse from Ananya Gairola

April 13, 2024 | 5:46 am

INTC

Republican lawmakers criticized the Biden administration after Huawei unveiled a laptop with an Intel AI chip, despite Huawei being on a trade restriction list. The chip was supplied under a license from the Trump era, raising concerns about U.S. national security and technology export to China. The Biden administration has faced calls to take a tougher stance on Huawei and other Chinese tech firms.

Portfolio Pulse from Ananya Gairola

April 13, 2024 | 1:55 am

QMCO

Quantum Corporation (NASDAQ:QMCO) provided a business update including a Q4 2024 liquidity update, revealing $26.1M in cash and equivalents, $87.9M in term loan debt, and $26.6M in revolving credit borrowings. The company also reported a $4.1M interest expense for Q4. Quantum announced a transaction post-Q4, selling service inventory assets for $15M to pay down $12.3M in debt, aiming to improve financial flexibility. Additionally, Quantum completed a new ERP system implementation, expected to reduce capital expenditures and increase operational efficiencies. Quantum is working to avoid Nasdaq delisting, with a hearing scheduled for May 14, 2024. Marc E. Rothman will retire from the board by August 31, 2024, or the 2024 annual meeting date, with a search for a new director underway.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 8:10 pm

Ford Motor Co (NYSE:F) announced a recall of 42,652 Bronco Sport and Escape vehicles in the U.S. due to broken fuel injectors that could cause fires. This coincided with the death of O.J. Simpson, who is historically linked to the Ford Bronco from a famous 1994 police chase. Ford has distanced itself from the negative connotations associated with Simpson and the Bronco, focusing on its revival and distancing from its past image.

Portfolio Pulse from Chris Katje

April 12, 2024 | 7:02 pm

EZGO

JPM

MOTS

PXMD

JPMorgan Chase & Co. shares fell by 5.1% despite beating first-quarter earnings and revenue expectations, with other stocks experiencing significant movements in Friday's mid-day session. Notable gainers include PaxMedica, EZGO Technologies, and Allarity Therapeutics, among others, with various reasons for their stock movements. Conversely, several companies faced declines, such as Motus GI Holdings, Lixiang Education, and Monogram Orthopaedics, each with specific challenges impacting their stock prices.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 6:47 pm

BLK

BlackRock Inc (NYSE:BLK) lost its appeal in a UK tax dispute related to its acquisition of Barclays Global Investors in 2009. The Court of Appeal upheld the decision to disallow tax deductions on interest from loans used in the acquisition, under the 'unallowable purpose rule'. Despite the setback, BlackRock, which has grown significantly since the acquisition, emphasized that all UK taxes, including those related to this matter, have been paid. The company is considering its next steps following the ruling.

Portfolio Pulse from Vandana Singh

April 12, 2024 | 5:50 pm

XPEV

Senator Sherrod Brown has called for a ban on Chinese EV imports to the U.S., specifically targeting companies like XPeng, Inc. (NYSE:XPEV). This comes amid concerns over economic and national security, and follows discussions on China's trade practices by Treasury Secretary Janet Yellen. XPeng's stock is trading lower, below its 50-day moving average and approaching its 52-week low. The company's revenue growth was 7.57% in fiscal year 2023, influenced by various macroeconomic factors. XPeng's performance is also compared to its peers, showing an average annual growth rate lower than the sector average.

Portfolio Pulse from Erica Kollmann

April 12, 2024 | 4:50 pm

USO

VGK

Russia and the IAEA have discussed sharing power from Russian-controlled nuclear plants with free areas of Ukraine. Meanwhile, Ukraine and Russia have exchanged accusations over recent drone attacks on a nuclear plant. Officials and experts have raised concerns that Russia's attempts to restart reactors could lead to accidents.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:37 pm

FTXR

RDIV

Ford Motor Company (NYSE:F) shares fell after the National Highway Traffic Safety Administration (NHTSA) initiated an investigation into the recall of 42,652 Ford SUVs, including 2022 and 2023 Ford Bronco Sport and the 2022 Ford Escape models, due to fuel leak risks that could potentially cause fires. The recall was initially for a software update and drain tube installation, but did not include replacing the cracked fuel injectors, which are the cause of the leaks. Ford plans to incorporate fuel injector leak detection into the engine control software. F stock dropped 2.68% to $12.69. Investors can also gain exposure to F stock through First Trust Nasdaq Transportation ETF (NASDAQ:FTXR) and Invesco S&P Ultra Dividend Revenue ETF (NYSE:RDIV).

Portfolio Pulse from Nabaparna Bhattacharya

April 12, 2024 | 4:13 pm

DFS

NAVI

NNI

SLM

SOFI

President Joe Biden announced the cancellation of over $7.4 billion in student loan debt for 277,000 borrowers, primarily public sector workers, under the SAVE plan. This plan includes an income-driven repayment plan and measures to prevent balance growth from unpaid interest. The Biden administration has now forgiven $153 billion in student loan debt. The plan faces criticism from Republican officials, but the Education Department defends its authority. Student loan-related stocks like SoFi Technologies, SLM Corp., Discover Financial Services, Navient Corp., and Nelnet Inc. showed mixed reactions in the market.

Portfolio Pulse from Anthony Noto

April 12, 2024 | 3:58 pm