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TSLA

Goldman Sachs has praised Tesla Inc. (NASDAQ:TSLA) for its leadership in autonomy and ADAS, projecting significant long-term growth from software and digital services, including robotaxi services. Despite the optimism, Goldman Sachs maintains a Neutral rating on Tesla due to full valuation and weaker near-term fundamentals, with a price target of $175. The firm highlights the potential of Tesla's Full Self Driving (FSD) and robotaxi services but notes the challenges in achieving higher levels of autonomy and regulatory hurdles. The rideshare market is expected to grow substantially, offering revenue opportunities for Tesla's robotaxi fleet.

Portfolio Pulse from Piero Cingari

April 18, 2024 | 1:31 pm

ABVC

ABVC BioPharma, Inc. (NASDAQ:ABVC), a clinical-stage biopharmaceutical company, announced its subsidiary AiBtl BioPharma Inc.'s acquisition of TT Life Company for $8.33M, paid through 1.66M AiBtl shares at $5 per share. This acquisition aims to expand AiBtl's portfolio in the precision medicine market, promising to enhance innovation and consolidate financials with TT Life. The deal is expected to bring synergies in R&D, manufacturing, and distribution, benefiting ABVC's financial statements as it holds 59% of AiBtl's consolidated shares.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:27 pm

ZURA

Zura Bio Limited (NASDAQ:ZURA) announced a $112.5M private placement of 20.1M Class A shares at $3.108 each to fund operations through 2027. The placement, led by Access Biotechnology and other major investors, aims to accelerate the development of tibulizumab for autoimmune diseases. The deal, expected to close on April 22, 2024, includes pre-funded warrants and is in compliance with Nasdaq rules. Piper Sandler, Guggenheim Securities, and Cantor are the lead placement agents.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:23 pm

LI

Li Auto has introduced the Li L6, available in Pro and Max trims, priced at RMB249,800 and RMB279,800 respectively. The company plans to start deliveries in April 2024.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:21 pm

TBIO

Telesis Bio Inc. (NASDAQ:TBIO) announced a strategic shift to focus on its Gibson SOLA enzymatic DNA synthesis platform and BioXp mRNA solutions, aiming to accelerate drug discovery. The company also reported a CEO change, with Eric Esser taking over from Todd R. Nelson. Telesis Bio has entered into a co-development and marketing agreement with a leading automation provider and expanded its commercial channel through a distribution agreement with Avantor. The company has achieved cost savings by restructuring operations, reducing operating expenses, and extending its cash runway.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:17 pm

UNFI

United Natural Foods, Inc. (UNFI) has implemented Samsara's vehicle telematics, asset gateways, environmental monitors, and video-based safety solutions to enhance its operational efficiency and safety measures. This adoption signifies UNFI's commitment to leveraging technology for better fleet management and environmental monitoring.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:14 pm

WMT

Walmart Inc-backed Ibotta, a digital marketing company, is set for its IPO, aiming to raise $577.3 million at a valuation of $2.7 billion. The company plans to offer 6.56 million shares at $88 each, above the initial price range. Ibotta, founded in 2011 and going public under the ticker IBTA, benefits from the AI buzz and a recovering U.S. IPO market. Walmart shares (WMT) saw a slight increase of 0.08% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 18, 2024 | 1:13 pm

ZTS

Scout Clean Energy has signed a 12-year Virtual Power Purchase Agreement (VPPA) with Zoetis Inc. for a 50-megawatt portion of the Heart of Texas Wind Farm. This agreement supports Zoetis' goal to achieve carbon neutrality by 2030 by securing renewable energy and generating Renewable Energy Certificates (RECs). The Heart of Texas Wind Farm, owned and operated by Scout, a Brookfield Asset Management portfolio company, contributes significantly to the local economy and the renewable energy sector.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:12 pm

POCI

Precision Optics Corporation, Inc. (NASDAQ:POCI) announced receiving a $720,000 follow-on production order from a top tier defense/aerospace customer for a new optical application, bringing total orders to over $1.9 million. The company anticipates strong sequential revenue growth and continued order volumes into the next fiscal year, highlighting its expansion in the defense and aerospace market.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:11 pm

BYND

Beyond Meat, Inc. (NASDAQ:BYND) has launched the fourth generation of its Beyond Burger and Beyond Beef products, featuring significant improvements in taste, nutrition, and cooking performance. These new products, which are now available at major U.S. grocery stores including Walmart and Kroger, offer 21g of plant-based protein per serving, only 2g of saturated fat thanks to the use of avocado oil, and have received positive feedback from consumers and health professionals alike. The launch is part of Beyond Meat's ongoing efforts to enhance the health and environmental benefits of its plant-based meat offerings, with the new products also being recognized by leading health organizations and receiving certifications for their nutritional quality.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 1:10 pm