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Ford has announced the commencement of shipments for its new F-150 and Ranger trucks across North America, having assembled 144,000 units in Q1. The company also plans to double the production rate of the F-150 PowerBoost Hybrid to account for 20% of all F-150 pickups in 2024.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 4:02 pm

AMZN

NVDA

Amazon CEO Andy Jassy emphasized the transformative potential of artificial intelligence (AI) across customer experiences, highlighting Amazon's deep involvement in every layer of the generative AI stack. The company's significant investments in AI startup Anthropic and the development of its own large language models, alongside custom silicon chips for AI computations, position Amazon as a key player in the AI space. Jassy's comments were made during a CNBC interview and in his annual shareholder letter, focusing on Amazon's AI initiatives and partnerships.

Portfolio Pulse from Adam Eckert

April 11, 2024 | 4:02 pm

APVO

ELYM

ENLV

KMX

RCEL

RENT

RLYB

U.S. stocks showed mixed performance with the Dow Jones falling by 100 points and NASDAQ rising. CarMax Inc reported lower than expected Q4 earnings, with a sales decline and EPS below estimates. Rallybio Corporation, Eliem Therapeutics, and Rent the Runway saw significant stock increases due to collaboration news and financial results. Conversely, Aptevo Therapeutics, Enlivex Therapeutics, and AVITA Medical experienced substantial drops in their stock prices due to public offering pricing, trial results, and revenue updates respectively.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 3:55 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares hit a new all-time low, down nearly 25% over the past month following disappointing Q4 financial results and Q1 production numbers. The company's Illinois production facility is temporarily shut down for changes to reduce material costs, affecting annual production scale. Rivian is expected to report Q1 financial results with anticipated losses of $1.16 per share and revenue of $1.13 billion. The article also discusses the challenges of predicting long-term stock prices and suggests using trend analysis for forecasting.

Portfolio Pulse from Erica Kollmann

April 11, 2024 | 3:47 pm

FLGC

Flora Growth Corp. (NASDAQ:FLGC), a Canadian-based cannabis company, announced a distribution deal with Me Raw Trade Ltd., marking its entry into the Polish market. The partnership aims to distribute JustCBD and Vessel brands across Poland, leveraging Me Raw's expertise in navigating local cannabis laws. This move is part of Flora's strategy to expand its footprint in the EU's rapidly growing cannabis market, with Poland's legal cannabis users expected to reach 1.3 million by 2026 and the medicinal market projected at €2 billion by 2028. FLGC's shares were trading 3.54% higher at $2.34 per share following the announcement.

Portfolio Pulse from Patricio Liddle

April 11, 2024 | 3:46 pm

CADL

Candel Therapeutics, Inc. (NASDAQ:CADL) shares surged after receiving FDA orphan drug designation for CAN-2409, a treatment for pancreatic cancer. The designation follows promising phase 2 trial results, showing significant improvement in median overall survival rates when combined with standard care. The news has led to a substantial increase in trading volume, with over 20.7 million shares traded, significantly above the 100-day average of 4 million shares. The company does not pay dividends but engages in other value-return activities for shareholders.

Portfolio Pulse from Erica Kollmann

April 11, 2024 | 3:39 pm

NKLA

M&M Residual and Trevor R. Milton have withdrawn their nomination of directors for Nikola Corporation's Board, citing concerns over potential fraud and misconduct by the company's management and certain directors. They highlighted issues such as operational underperformance, product liability, and misleading public statements, which have led to significant stockholder value destruction. The company's recent undisclosed sale of the Nikola Badger and powersports program, and the handling of Nikola trucks catching fire, were specifically criticized. M&M Residual and Milton are considering legal action against Nikola's officers and directors, and have dissolved their previous group intending to solicit Nikola stockholders for the upcoming Annual Meeting.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:35 pm

NNI

Sunrock Distributed Generation and Nelnet, Inc. (NYSE:NNI) have formed a tax equity partnership to finance and construct distributed generation assets across several states, including California, Illinois, New Jersey, and New York. This partnership aims to enhance energy sustainability, build power grid resiliency, and reduce carbon emissions. Initial projects are already underway, leveraging Sunrock's proprietary underwriting system and automated technology platform.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:30 pm

COIN

Coinbase Derivatives has introduced futures contracts for Bitcoin Cash and Litecoin, expanding its offerings. These futures contracts are accessible for trading through broker and FCM partners.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 3:27 pm

MRK

MRNA

Moderna Inc has paused its plans to build a vaccine manufacturing plant in Kenya due to declining COVID-19 vaccine demand in Africa, leading to over $1 billion in losses and write-downs. The decision reflects a shift in investment strategy away from pandemic preparedness in Africa. Despite this, Moderna shares saw a jump after presenting positive results from a therapy study in collaboration with Merck & Co Inc.

Portfolio Pulse from Vandana Singh

April 11, 2024 | 3:24 pm