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FCX

Freeport's Indonesian subsidiary, PT Freeport Indonesia, has completed the construction of the Manyar smelter and begun commissioning. However, Q2 sales are expected to be 5% below copper guidance and 30% below gold guidance due to an export license delay. 2024 gold sales are expected to be around 1.8 million ounces. The Q2 earnings release and conference call are scheduled for July 23, 2024.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:29 pm

NKLA

Nikola Corp (NASDAQ:NKLA) shares are trading higher after the company announced it sold more trucks than expected in the second quarter. Nikola wholesaled 72 Class 8 hydrogen fuel cell trucks, surpassing its guidance of 60 units. The company has sold a total of 112 trucks in the first half of the year. This news comes after a significant drop in Nikola's stock price following a reverse stock split to comply with Nasdaq rules.

Portfolio Pulse from Adam Eckert

July 02, 2024 | 1:28 pm

LLY

NVO

The U.S. FDA has sent a warning letter to Ozempen.com for introducing unapproved and misbranded semaglutide drug products into interstate commerce. The FDA has requested that the website cease offering these drugs for sale to U.S. consumers.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:24 pm

GLPEY

PBR

SHEL

XOM

Over 12 oil companies, including ExxonMobil, Shell, and Brazil's Petrobras, have shown interest in acquiring a 40% stake in Galp Energia's major offshore Namibia oil discovery. The discovery is estimated to hold 10 billion barrels of oil and gas, valued at over $10 billion.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:20 pm

TYL

Tyler Technologies has expanded its agreement with the Arizona Supreme Court to include juvenile probation for all 15 counties in the state, enhancing the experience for 3,600 users.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:19 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares rose on Tuesday following the announcement of their Q2 production and delivery figures. The company produced 9,612 vehicles and delivered 13,790 vehicles, in line with expectations. Rivian reaffirmed its 2024 annual production guidance of 57,000 vehicles and shared long-term financial targets, including positive gross profit by Q4 2024 and positive adjusted EBITDA by 2027. The company plans to release its Q2 2024 financial results on August 6.

Portfolio Pulse from Nabaparna Bhattacharya

July 02, 2024 | 1:16 pm

AVAV

The U.S. Department of State has approved a potential foreign military sale of AeroVironment's Switchblade 300 loitering munition systems to Taiwan for $60.2 million. This sale aims to enhance Taiwan's defensive capabilities and supports U.S. interests in the Indo-Pacific region.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:15 pm

TSLA

Tesla reported second-quarter deliveries that exceeded expectations, despite a year-over-year decline. The stock rose in premarket trading. Analysts are focusing on Tesla's energy storage business as a potential growth driver. Upcoming catalysts include the Q2 earnings release on July 23 and Robotaxi Day on August 8.

Portfolio Pulse from Shanthi Rexaline

July 02, 2024 | 1:15 pm

ALVO

Alvotech (NASDAQ:ALVO) announced positive topline results from a confirmatory patient study for AVT03, a proposed biosimilar to Prolia and Xgeva. The study met its primary endpoints, demonstrating clinical similarity in terms of efficacy, safety, immunogenicity, and pharmacokinetics. Alvotech plans to file marketing applications for AVT03 later this year.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:13 pm

UAVS

AgEagle Aerial Systems Inc. (NYSE:UAVS) successfully completed a training exhibition of its eBee VISION and TAC drones for the Opposition Forces unit at the National Training Center in Fort Irwin, California. The drones performed optimally over three days.

Portfolio Pulse from Benzinga Newsdesk

July 02, 2024 | 1:13 pm