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FFND

LCID

RIVN

TSLA

Rivian Automotive, Inc. (RIVN) and Lucid Group, Inc. (LCID) face market challenges similar to Tesla, Inc. (TSLA), with significant stock declines. Elon Musk commented on a 2021 optimistic prediction for Rivian that did not materialize, as its market cap fell below $9 billion from a forecasted $70 billion. Rivian's production struggles and the broader economic downturn have impacted its performance, despite initial high expectations and backing from Amazon. Meanwhile, Tesla's Future Fund (FFND) reduced its Tesla stake, reflecting concerns over near-term prospects, although it remains bullish on Tesla's long-term potential.

Portfolio Pulse from Shanthi Rexaline

April 15, 2024 | 9:10 am

HUIZ

Huize Holding Limited (NASDAQ:HUIZ), an insurance technology platform, has announced a partnership with Ruihua Health Assurance to launch 'Darwin Critical Care No.9', a new customized critical illness insurance product in China. This addition to the 'Darwin Critical Care' series, first introduced in 2018, leverages data-driven and AI-powered solutions to connect consumers, insurance carriers, and distribution partners.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 9:01 am

BTCUSD

ETHUSD

Hong Kong's securities regulator has approved the city's first spot Bitcoin and Ethereum ETFs, marking a significant milestone in recognizing cryptocurrencies as mainstream investment tools in Asia. This development follows the U.S.'s introduction of similar ETFs, which attracted approximately $12 billion in net inflows. Crypto Analyst Lark Davis expressed enthusiasm for this advancement, highlighting its potential impact on the crypto market. Despite recent market downturns due to geopolitical tensions, the approval is seen as a positive step for the broader acceptance of cryptocurrencies.

Portfolio Pulse from Benzinga Neuro

April 15, 2024 | 8:58 am

TSLA

Tesla's Q1 U.S. sales were primarily affected by lower sales of its older models, despite a rise in Model Y sales. Overall, Tesla's U.S. sales dropped 13.3% year-on-year to 140,187 vehicles. The decline in Tesla's sales contributed to the first quarter-over-quarter downturn in U.S. EV sales since Q2 2020, despite a 2.6% year-on-year increase in EV sales across brands. Other brands like BMW, Cadillac, Ford, Hyundai, Kia, Lexus, Mercedes, Rivian, and Vinfast saw significant EV sales growth. Cox Automotive forecasts a rise in U.S. EV sales for 2024.

Portfolio Pulse from Anan Ashraf

April 15, 2024 | 8:41 am

SPOT

Spotify Technologies SA (NYSE:SPOT) has introduced an AI DJ feature to personalize the music streaming experience for its 600 million subscribers, aiming to help users explore new music beyond their usual preferences. Despite AI's proficiency in matching known preferences, the challenge remains in predicting when users want to discover new music genres or tracks. The AI DJ feature, which provides commentary alongside music recommendations, has shown promising results in encouraging listeners to try new music. Spotify's focus on AI and machine learning innovations is part of its broader strategy to enhance user experience and compete with platforms like TikTok. The company's stock has seen significant growth, with a 135% increase over the past year and a 64% rise year-to-date.

Portfolio Pulse from Ananya Gairola

April 15, 2024 | 7:13 am

TSLA

Tesla Inc.'s senior executive, Rohan Patel, criticized some Indian media reports about the company's expansion plans in India as 'totally made up' without specifying which ones. Despite these claims, reports last week suggested potential meetings between CEO Elon Musk and Indian Prime Minister Narendra Modi, and a possible partnership with Reliance Industries for a manufacturing facility. Tesla's lack of a public relations department since October 2020 has been highlighted as a reason for misinformation.

Portfolio Pulse from Anan Ashraf

April 15, 2024 | 6:53 am

BHVN

Biohaven showcased its neuroscience portfolio at the 2024 AAN Annual Meeting with 20 presentations, including novel treatments for neurological and neuropsychiatric disorders. Highlights include the presentation of BHV-1300, a Molecular Degrader of Extracellular Proteins (MoDE™) technology, and safety and efficacy data for several other compounds such as BHV-7000 and troriluzole. The FDA granted 'rare pediatric disease' designation for taldefgrobep alfa for spinal muscular atrophy, potentially leading to a priority review voucher.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:18 am

BR

Broadridge Financial Solutions, Inc. (BR) has been selected by SBI SECURITIES to provide its post-trade solution for equities brokerage services in the UK. This partnership aims to enhance the operational efficiency and scalability of SBI SECURITIES' UK operations.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 6:10 am

RHHBY

Roche's Genentech announced that its drug Columvi, in combination with chemotherapy, met its primary endpoint of overall survival in a Phase III STARGLO study for patients with relapsed or refractory diffuse large B-cell lymphoma. The results, showing a statistically significant improvement in survival, will be submitted to health authorities and presented at an upcoming medical meeting.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 5:34 am

AAPL

Apple Inc. CEO Tim Cook's visit to Vietnam signifies a deeper commitment to the region, with plans to increase investments in local suppliers and support community initiatives. This move is part of Apple's broader strategy to diversify its manufacturing base beyond China, amid declining iPhone shipments and efforts to mitigate geopolitical risks. The company is also expanding its global footprint, with increased activities in Latin America and new product launches on the horizon.

Portfolio Pulse from Benzinga Neuro

April 15, 2024 | 5:30 am