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TSLA

Morgan Stanley analyst Adam Jonas reiterated a positive outlook for Tesla (TSLA), focusing on its energy storage business despite expecting increased volatility and earnings pressure in the near term. Jonas is optimistic about Tesla's long-term prospects due to its AI and robotics transition, highlighted by the potential of its full self-driving (FSD) software and upcoming robotaxi event. However, he expressed concerns over the immediate impact of FSD and robotaxis commercialization. Tesla's recent report of a year-on-year decline in quarterly deliveries, the first in four years, adds to the near-term challenges. Despite these challenges, Tesla's stock closed up 1.65% at $174.6.

Portfolio Pulse from Anan Ashraf

April 12, 2024 | 12:16 pm

OPTX

Syntec Optics has announced the launch of process development for a high-volume production line to manufacture disposable medical optics, marking a significant advancement in biomedical camera technology. This development, following nearly three years of concept proposals, positions Syntec Optics at the forefront of automated high-volume production in the US, leveraging their extensive expertise and advanced manufacturing capabilities. The addressable market for photonics-enabled biomedical segments was estimated at $201.1B in 2021, indicating a substantial market opportunity for Syntec Optics.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:05 pm

EZGO

EZGO Technologies Ltd. (NASDAQ:EZGO) has entered into a $1.84 million procurement agreement with Hangzhou Huiyu Zhichuang Industrial Co., Ltd. for the sale of twelve security patrol robots and one intelligent patrol platform. This agreement highlights EZGO's strong R&D and manufacturing capabilities in the short-distance transportation solutions sector in China. The company is expected to complete delivery and installation within 9 months, showcasing advanced features like self-navigation and live video streaming. This deal is anticipated to expand EZGO's business with Huiyu Group and secure sustained orders, reinforcing its position in smart transportation solutions.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:03 pm

LLY

NVO

The Pharmacovigilance Risk Assessment Committee (PRAC) has found no evidence linking GLP-1 diabetes medications, including dulaglutide, exenatide, liraglutide, lixisenatide, and semaglutide, to suicidal or self-injurious behavior. This conclusion comes after reviewing case reports, additional data from marketing authorization holders, and recent studies. Medications such as Ozempic, Rybelsus, Wegovy, Victoza, Saxenda, Xultophy, Byetta, Bydureon, Lyxumia, Suliqua, and Trulicity are cleared of these concerns. Marketing authorization holders will continue to monitor and report on safety.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:02 pm

RVNC

Revance Therapeutics, Inc. (NASDAQ:RVNC) announced its participation in the American Academy of Neurology 2024 Annual Meeting with two presentations on DAXXIFY for cervical dystonia treatment. The presentations will cover a new analysis from the ASPEN trials on patient-desired retreatment intervals and the influence of DAXXIFY's novel formulation on its clinical performance. Findings suggest DAXXIFY allows for flexible treatment intervals beyond the FDA-defined minimum, with low adverse event rates and enhanced efficacy due to its formulation.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:01 pm

GNS

Genius Group Limited (NYSE:GNS) announced the launch of Singapore Genius City, its first Sovereign AI Education Ecosystem. This initiative aims to provide AI Education and Acceleration courses to various groups through both physical and online platforms. The launch in Singapore will be followed by openings in Dubai and Abu Dhabi, with plans to unveil ten more Genius Cities in 2024. The company's CEO, Roger Hamilton, highlighted Singapore's role as a model city for AI competitiveness and the company's commitment to contributing to AI education and talent development.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:01 pm

GDC

GD Culture Group Limited (NASDAQ:GDC) and its subsidiary, AI Catalysis Corp., have launched an AI Advertising solution aimed at revolutionizing digital marketing. This solution focuses on optimizing the ad creative process and maximizing social marketing influence through AI-powered content creation. It simplifies the design process, reduces costs, and enhances efficiency while providing comprehensive support for social media marketing. The company's recent campaign with a perfume brand on TikTok received high acclaim, demonstrating the effectiveness of their AI-driven tools.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 12:00 pm

BTCUSD

ETHUSD

Crypto analyst Ali Martinez predicts a 54% surge in PEPE, a meme-based cryptocurrency, if it closes outside the $0.00000793 - $0.00000664 range. PEPE, launched on Ethereum, aims to capitalize on the meme coin trend. Its market cap peaked at $1.6 billion in 2023, and the crypto community is watching for its performance in the next Bitcoin halving cycle. The crypto market sees significant developments, with Hong Kong potentially boosting Bitcoin with crypto ETFs, while risks of a crash and uncertain Ethereum ETF approvals loom.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 11:52 am

TSLA

Tesla has launched a rear-wheel drive (RWD) version of the Model Y Long Range in Europe, offering a lower price and longer range compared to the all-wheel drive (AWD) variant. The RWD version, available in several European countries, boasts a range of 600 km with 19-inch Gemini wheels and a top speed of 217 km/h, surpassing the AWD's 533 km range. Despite the RWD's efficiency, the AWD variant is faster. This move could enhance Tesla's competitiveness in Europe, where the Model Y is already its best-selling vehicle.

Portfolio Pulse from Anan Ashraf

April 12, 2024 | 11:38 am

ACES

QCLN

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower in the premarket session on Friday, having lost over 30% in the past year. Investors can gain exposure to RIVN through ALPS Clean Energy ETF (NYSE:ACES) and First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN). Rivian is expected to report Q1 financial results with losses of $(1.15) per share and revenue of $1.153 billion. The company's production facility adjustments aim to cut material expenses, impacting its yearly production capacity. Rivian targets 57,000 vehicle productions in 2024, focusing on cost efficiency and forecasting an adjusted EBITDA loss of $(2.7) billion.

Portfolio Pulse from Nabaparna Bhattacharya

April 12, 2024 | 11:36 am