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LCID

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TSLA

Lucid Group, Inc. (NASDAQ:LCID) shares fell after Tesla, Inc. (NASDAQ:TSLA) and Li Auto, Inc. (NASDAQ:LI) announced new EV price cuts. Li Auto reduced prices by about 5% on several models, offering refunds to early buyers. Lucid recently shared details about the 2024 Lucid Air Grand Touring, boasting the longest range in the U.S. market. Citigroup gave Lucid a Neutral rating with a $2.90 price target. Lucid's Q1 financial results are expected to show losses of 26 cents per share with $155.986 million in revenue.

Portfolio Pulse from Erica Kollmann

April 22, 2024 | 3:32 pm

CMG

Chipotle Mexican Grill, Inc. (NYSE:CMG) has opened its first restaurant in Kuwait City, marking its first new country entry in over a decade, in partnership with Alshaya Group. The location offers multiple ordering methods, including a kiosk system and QR codes. Chipotle and Alshaya also plan to open a location in Dubai later this year. This expansion is part of Chipotle's international growth, with existing locations in Canada, the U.K., France, and Germany. The move has been well-received, with shares trading up 0.12% at $2,872.46.

Portfolio Pulse from Shivani Kumaresan

April 22, 2024 | 3:22 pm

RELI

An executive from Reliance Industries reported strong sales in the air conditioners category within their consumer electronics segment, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 3:14 pm

INTC

The U.S. Department of Defense has selected Intel Foundry for Phase Three of the RAMP-C program, enabling defense and commercial customers to manufacture product prototypes using Intel's 18A process technology. This phase signifies a critical milestone in advancing U.S. leadership in semiconductor technology and manufacturing. Intel's selection for Phase Three follows their successful completion of the first two phases, establishing a foundation for their foundry business and expanding customer engagement.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 3:08 pm

RAN

RanMarine Technology B.V. (NASDAQ:RAN) is set to IPO on April 23, offering shares at $5.50 each with a 180-day insider lock-up period ending on October 20, 2024. The company specializes in autonomous surface vessels for removing pollutants and collecting water quality data.

Portfolio Pulse from Benzinga Insights

April 22, 2024 | 3:00 pm

NFLX

Netflix Inc (NASDAQ:NFLX) faces potential subscriber loss or shifts to cheaper plans if prices are raised, according to a Benzinga poll. Over half of the respondents indicated they would cancel their membership if prices increase. Despite this, Netflix raised the prices of its Basic and Premium plans in the U.S. in October 2023. The company's stock has seen significant growth over the last year, trading at $549.51, up over 70%.

Portfolio Pulse from Chris Katje

April 22, 2024 | 2:36 pm

SHIB-USD

Shiba Inu (SHIB) has seen a 19% increase in value over two days, raising $12M for its new blockchain through a token sale of TREAT to non-U.S. investors. The funds were raised from notable investors including Polygon Ventures and Animoca Brands. The new Layer-3 blockchain aims to enhance privacy, with TREAT serving as its utility and governance token. Additionally, a temporary outage in the Shibarium network was resolved, and significant increases in transaction volumes and fees were reported. Analyst Javon Marks predicts a potential 69% recovery for SHIB to its 2024 highs.

Portfolio Pulse from Khyathi Dalal

April 22, 2024 | 2:35 pm

LI

TSLA

Li Auto Inc. (NASDAQ:LI) shares dropped after announcing a 5% price cut on four models amid an EV price war, following similar moves by Tesla and BYD. Despite a successful launch of the Li L6, Li Auto's stock has declined significantly, with analysts maintaining an Outperform rating but with varied expectations.

Portfolio Pulse from Erica Kollmann

April 22, 2024 | 2:24 pm

YYGH

YY Group Holding Limited (NASDAQ:YYGH), a manpower supplier in the recruitment industry, announced its IPO of 1,125,000 shares at $4 each, totaling approximately $4.5 million. The shares will start trading on Nasdaq on April 22, 2024, under the symbol 'YYGH'. The proceeds will be used for business expansion, marketing, product development, team expansion, and general corporate purposes. US Tiger Securities, Inc. is the sole book-running manager.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 2:22 pm

AMD

AMZN

GOOG

MSFT

NVDA

Nvidia and AMD stocks rebounded on Monday after a significant selloff on Friday, with Nvidia losing over $200 billion in market value and AMD nearly 6% in stock value. The selloff was influenced by concerns over U.S. Federal Reserve rate cuts amid tensions between Iran and Israel. Analysts highlight strong demand for AI-related capacity and tools, with Nvidia and AMD benefiting from cloud service provider expenditures. Nvidia's stock price drop significantly impacted the S&P 500. Key cloud service providers like Google Cloud, Microsoft Azure, and Amazon Web Services continue to support Nvidia and AMD GPU-powered solutions. Analyst Rick Schafer predicts strong demand for Nvidia's GPUs and a bullish outlook for the data center AI market.

Portfolio Pulse from Anusuya Lahiri

April 22, 2024 | 2:16 pm