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Apple Inc. has introduced a new AI model named ReALM, surpassing OpenAI's GPT-4 in efficiency and performance. ReALM, being lighter and faster, is poised to enhance Apple's virtual assistant, Siri, and contribute to the company's AI strategy. This development comes as Apple prepares to reveal its AI initiatives at WWDC 2024, with expectations of incorporating smaller on-device models for privacy and security. Apple's strategic AI advancements, including the acquisition of DarwinAI and potential licensing of Google's Gemini AI models, underscore its commitment to leading in AI technology.

Portfolio Pulse from Rounak Jain

April 02, 2024 | 10:10 am

RCKT

The European Medicines Agency (EMA) has accepted the marketing authorization application for Rocket Pharmaceuticals' RP-L102, a gene therapy product for treating Fanconi Anemia. This marks a significant step forward in the regulatory process, potentially leading to the approval and commercial availability of RP-L102 in Europe.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 10:04 am

FXI

TSLA

Tesla reported a 0.2% year-over-year increase in sales of China-made electric vehicles in March, with a total of 89,064 units sold, according to Reuters citing China Passenger Car Association data.

Portfolio Pulse from Charles Gross

April 02, 2024 | 9:15 am

AAPL

Apple Inc. (NASDAQ:AAPL) is at risk of reporting its first revenue and earnings per share (EPS) decline in a decade during the March 2024 quarter, primarily due to a significant drop in iPhone sales in China. Loop Capital analyst Ananda Baruah has lowered Apple's stock target price to $170 from $180, maintaining a 'Hold' rating. The decline in sales is attributed to a 30% year-over-year decrease in iPhone sales in China, amidst a 7% overall decline in the country's smartphone sales. Despite these challenges, upcoming AI developments and the Vision Pro headset sales could potentially boost Apple's stock.

Portfolio Pulse from Rounak Jain

April 02, 2024 | 8:26 am

F

Ford Motor Co (NYSE:F) significantly increased Mustang Mach-E sales by slashing prices in February, with sales jumping from 300 units weekly to over 1,800. The price cuts, ranging between $3,100 and $8,100, lowered the starting price to $39,895, boosting Mach-E's market share in the EV space from 5.2% to 13.3%. However, Ford anticipates its EV business segment, Model-e, to report widened losses of $5 billion to $5.5 billion this year due to pricing pressure and investment in new vehicles. Cloud Theory warns that despite the temporary sales boost, the EV industry faces future uncertainties including demand hesitations and profitability challenges.

Portfolio Pulse from Anan Ashraf

April 02, 2024 | 8:12 am

DOGE

SOL

Anatoly Yakovenko, CEO of Solana, announced a fictitious cryptocurrency named 'BunkerCoin' as an April Fool's joke, which led to the creation of a real token on the Solana blockchain, soaring 4000% in value within 24 hours. Despite being a prank, the event highlights the volatility and risk of new cryptocurrencies. Meanwhile, Dogecoin's price rose 6.56% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

April 02, 2024 | 7:58 am

GEHC

GE HealthCare has acquired MIM Software to enhance precision care through AI-enabled imaging analytics. This acquisition adds to GE HealthCare's portfolio AI-enabled image analysis and workflow tools across various care areas such as oncology, urology, neurology, and cardiology, aiming to provide clinicians and healthcare systems with more integrated and automated solutions.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 6:45 am

AAPL

Charlie Deets, a lead designer for Apple Inc.'s Safari browser, has left the company to join The Browser Company, known for the Arc web browser. Deets, who contributed to Safari's design for five years, is expected to enhance The Browser Company's innovative efforts in the browser market. This move comes as The Browser Company, which recently raised $50 million at a $550 million valuation, plans to expand its Arc browser across multiple platforms.

Portfolio Pulse from Ananya Gairola

April 02, 2024 | 6:32 am

TSLA

Tesla's Senior Manager of Semi truck engineering, Dan Priestley, endorsed the EPA's new Phase-3 emission standards for heavy-duty vehicles, highlighting the Tesla Semi's capability to replace diesel trucks. Priestley emphasized the Semi's operational efficiency, lower costs, and the potential for full market adoption due to tighter emission rules and superior economics. The Tesla Semi, still in pilot production, has demonstrated its effectiveness by shipping over 20,000 battery packs from Giga Nevada to Fremont. The EPA's new standards aim to significantly reduce greenhouse gas emissions from heavy-duty vehicles starting with the 2027 model year.

Portfolio Pulse from Anan Ashraf

April 02, 2024 | 6:21 am

AZN

DSNKY

The U.S. FDA has accepted the Biologics License Application (BLA) for Datopotamab Deruxtecan, a joint development by Daiichi Sankyo and AstraZeneca, aimed at treating metastatic breast cancer. This marks a significant step forward in the fight against this severe form of cancer.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 6:18 am