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FOXO

FOXO Technologies Inc. (NYSE:FOXO) is set to begin the commercial rollout of its VITHAR AI Health Coach in early 2024. The company anticipates a reduction in losses exceeding $10 million for Q3 2023 compared to the previous quarter, including operational cost savings of over $2.1 million. Interim CEO Mark White highlighted progress in the VITHAR rollout and plans to use KR8's social media network for marketing. FOXO expects to report annualized cost savings of over 52% for 2023 and aims to maintain a lean operating structure to scale the business and drive profitability post-launch.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 2:08 pm

NVTS

Navitas Semiconductor (NASDAQ:NVTS) is showcasing its GaNFast gallium nitride and GeneSiC silicon carbide power semiconductors at the 'Bodo's WBG Event' in Munich. As a leader in wide bandgap (WBG) semiconductors, Navitas has shipped over 100 million GaN and 12 million SiC power devices. The company will present its latest technologies aimed at markets such as EV, solar, energy storage, and AI data centers. The event features discussions on the adoption of SiC and GaN materials, and presentations on the advantages of Navitas' power ICs and GeneSiC MOSFETs.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:32 pm

WGS

GeneDx (NASDAQ:WGS) announced new data supporting exome sequencing over multi-gene panels for epilepsy diagnosis, to be presented at the AES annual meeting. The study of 22,500 individuals showed a 25% diagnosis rate with exome sequencing, higher than the 19% with multi-gene panels. 78% of those diagnosed had prior testing, indicating exome sequencing's superior diagnostic ability. Over half of seizure-related genes are not on many epilepsy panels. 11% of positive diagnoses from exome sequencing involved treatment-related genes. GeneDx will also present data on better insurance coverage for exome sequencing. The NSGC and AES recommend exome sequencing as a first-tier test for unexplained epilepsy. GeneDx will host a symposium at the conference discussing the benefits of exome sequencing for epilepsy patients.

Portfolio Pulse from Benzinga Newsdesk

December 01, 2023 | 1:31 pm

TSLA

Tesla Inc (NASDAQ:TSLA) showcased a bulletproof test of its Cybertruck, which survived a barrage from a Tommy gun, a 9mm Glock, and a 9mm MP5-SD without cabin penetration. The demo was part of the Cybertruck delivery event at Gigafactory Texas. CEO Elon Musk highlighted the vehicle's stainless steel exoskeleton, which is bulletproof to .45 caliber and 9mm handguns, though the window glass is not fully bulletproof. The Cybertruck is marketed as a durable and robust vehicle, akin to an armored personnel carrier from the future.

Portfolio Pulse from Anan Ashraf

December 01, 2023 | 11:55 am

AAPL

DIS

META

NFLX

TSLA

WBD

Elon Musk, CEO of Tesla Inc., received support from Welt's editor-in-chief Ulf Poschardt, who praised Musk's 'Go f**k yourself' response to advertisers boycotting his social network X. Poschardt views Musk's stance as a triumph against 'woke' culture. Musk has been criticized for his comments and for endorsing a debunked anti-Semitic conspiracy theory, leading to major advertisers like Apple, Disney, Warner Bros. Discovery, and others halting their ads on X. Despite the controversy, Musk found support from hedge manager Bill Ackman, who remains invested in X.

Portfolio Pulse from Rounak Jain

December 01, 2023 | 10:53 am

DIS

PSHZF

Bill Ackman defended Elon Musk's commitment to free speech amid criticism over anti-Semitic comments and advertisers pulling out from Musk's social media platform, X. Ackman's firm, The Pershing Square Foundation, remains invested in X and supports companies advertising there. Ackman criticized Disney (DIS) for suspending ads on X and suggested Nelson Peltz could influence Disney's decision once on the board. Despite a potential $75 million loss in ad revenue for X, Ackman praised Musk's ownership of X but proposed a trust as a better long-term owner. Pershing Square Holdings (PSHZF) shares fell 1.55%.

Portfolio Pulse from Shanthi Rexaline

December 01, 2023 | 9:09 am

TSLA

BYD, backed by Warren Buffett, has announced temporary price cuts on several EV models to boost year-end sales and intensify competition with Tesla. The discounts, which are not permanent, range from RMB 3,000 to RMB 20,000 on models like the Qin, Han, Tang, and Song. BYD's CEO Wang Chuanfu is prepared for a price war over the next 3-5 years to gain market share. BYD's sales have surged by 77% over last year, with the aim to surpass Tesla's annual EV sales.

Portfolio Pulse from Benzinga Neuro

December 01, 2023 | 8:26 am

TSLA

Tesla Inc (NASDAQ:TSLA) has started delivering the Cybertruck, with reservations exceeding a million. To appease waiting customers, Tesla emailed Cybertruck reservation holders offering a $1,000 discount on other Tesla models. This move has led to customer frustration and speculation that Tesla may be trying to boost sales of other models due to longer Cybertruck wait times. Tesla also released a 1:18 scale diecast Cybertruck model for $225. Elon Musk has indicated that reaching the target of 250,000 Cybertruck deliveries annually may take until 2025.

Portfolio Pulse from Anan Ashraf

December 01, 2023 | 6:23 am

TSLA

Tesla Inc (NASDAQ:TSLA) has delivered its first Cybertrucks, showcasing its performance and durability features, such as racing against a Porsche 911 and demonstrating bulletproof capabilities. CEO Elon Musk dismissed the notion of viral marketing, attributing the attention to the product's inherent qualities. The Cybertruck, with a starting price of $60,990, will have its cheapest version available in 2025. Musk praised the Cybertruck as Tesla's best product at the delivery event.

Portfolio Pulse from Anan Ashraf

December 01, 2023 | 3:11 am

PFE

Texas Attorney General Ken Paxton has filed a lawsuit against Pfizer Inc. for allegedly misrepresenting the efficacy of its COVID-19 vaccine and attempting to censor public discourse. The lawsuit claims Pfizer engaged in deceptive practices by promoting the vaccine's 95% efficacy based on relative risk reduction, which is considered misleading. It also accuses Pfizer of suppressing information about the vaccine's limited duration of protection and failing to measure its effect on transmission. The lawsuit alleges that Pfizer tried to silence critics when the vaccine's limitations became apparent.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 10:39 pm