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CVX

Chevron's 50% owned affiliate Tengizchevroil has started operations at its Wellhead Pressure Management Project in the Tengiz oil field, Kazakhstan. This marks the final phase of the expansion project, set to conclude in the first half of 2025, and will increase Tengiz crude oil production by 12 million tons per year (260,000 barrels a day).

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 9:33 am

AAPL

META

Mark Zuckerberg, CEO of Meta Platforms Inc. (META), criticized Apple Inc.'s (AAPL) Vision Pro, suggesting a preference for augmented reality (AR) glasses with more functionality, like Meta's Ray-Ban smart glasses. He highlighted the potential of AR glasses without full holographic displays, emphasizing the growing platform of Meta's smart glasses. Despite the competition from Apple's Vision Pro, Zuckerberg has consistently promoted Meta's Quest VR headset as superior. Apple's Vision Pro has reportedly faced demand challenges, leading to a significant cut in shipment forecasts.

Portfolio Pulse from Rounak Jain

April 25, 2024 | 9:31 am

EWC

HMC

Bloomberg reported that Honda is planning an $11 billion investment in electric vehicles, which includes receiving government aid from Canada. This strategic move is part of Honda's broader initiative to expand its electric vehicle (EV) lineup and production capabilities, signaling a significant commitment to the EV market.

Portfolio Pulse from Charles Gross

April 25, 2024 | 9:27 am

F

STLA

TSLA

Global Autos Analyst Tom Narayan highlighted the challenge automakers like Ford face with the decreasing prices of electric vehicles (EVs), impacting profitability. Ford's CFO, John Lawler, also expressed concerns over revenue loss due to EV price cuts, emphasizing cost-cutting measures. Tesla and Stellantis have made similar price adjustments, with Tesla cutting prices in China and the U.S., and Stellantis' CEO warning against the risks of reduced profitability.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 8:46 am

META

Analyst Rich Greenfield expressed skepticism about the profitability of AI chatbots for Meta Platforms Inc. (NASDAQ:META), despite its significant investments in AI and its position as a key player in the competitive AI space. Greenfield highlighted the challenges of monetizing AI chatbots amidst competition from companies like Microsoft and Google. Meta's focus on AI has been evident, with CEO Mark Zuckerberg hinting at a shift towards more advanced AI agents. Despite a 27% year-over-year revenue increase in Q1 2024, Meta's stock saw a 15.57% decrease.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 8:44 am

USB

U.S. Bancorp's subsidiary, Elavon, has partnered with FreedomPay to revolutionize payments in the European hospitality and retail sectors. This collaboration aims to enhance payment solutions and customer experience across Europe.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:48 am

F

Ford Motor Co (NYSE:F) is emphasizing hybrid vehicles to diversify its offerings amid competition from Honda and Toyota in the hybrid market. Ford's global hybrid sales increased by 36% year-on-year in the first quarter, with a target growth of 40% for 2024. CEO Jim Farley highlighted the company's focus on hybrid trucks in North America, where it faces less competition. Despite the industry's shift towards electric vehicles (EVs), with Tesla's Elon Musk criticizing the move towards hybrids, Ford is making modest investments in hybrid technology. General Motors, another U.S. player, plans to introduce plug-in hybrid technology in select vehicles, focusing on pure electric vehicles for 2024.

Portfolio Pulse from Anan Ashraf

April 25, 2024 | 7:48 am

F

Ford Motor Co (NYSE:F) is facing challenges in its EV segment due to revenue declines outpacing cost-cutting efforts, exacerbated by a price war initiated by Tesla. Despite this, Ford is committed to achieving profitability in its EV segment with the next generation of EVs, though the launch timeline remains undisclosed. CFO John Lawler highlighted the impact of the price war and the shift in consumer expectations towards more affordable EV options. Ford's EV segment, Model e, reported a significant EBIT loss in Q1, with expectations of a wider loss in 2024.

Portfolio Pulse from Anan Ashraf

April 25, 2024 | 7:46 am

ALSN

Allison Transmission's 3414 RHS and 4000 Series transmissions have been selected as the exclusive fully automatic options for International Truck's new S13 models, specifically in the RH and HX Series trucks. This partnership highlights Allison's continued leadership in the transmission industry and its role in powering heavy-duty vehicles.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:44 am

WBA

Walgreens has expanded its specialty pharmacy offerings by launching new Gene and Cell Therapy Services and integrating AllianceRx. This move is part of the company's strategy to leverage its neighborhood pharmacies into rapidly growing healthcare sectors, including the establishment of a new Pharmacy and Innovation Center.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 7:21 am