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RTX

Icelandair has chosen Pratt & Whitney's GTF engines, a business of RTX (NYSE:RTX), to power up to 35 new Airbus A320neo family aircraft. This deal includes a mix of leased and purchased A321XLR and A321LR aircraft, making Icelandair a first-time GTF customer. Additionally, Icelandair has entered into an EngineWise agreement with Pratt & Whitney for the long-term maintenance, repair, and overhaul of the GTF engines, ensuring support for smooth service entry and operation.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 10:06 am

GDTC

CytoMed Therapeutics Limited (NASDAQ:GDTC), a Singapore-based biopharmaceutical company, has announced a Research Collaboration Agreement with Sengkang General Hospital to develop an injectable therapy using umbilical cord-derived mesenchymal stem cells for cartilage diseases. This collaboration aims to establish proof-of-concept and support the commencement of a Phase 1 clinical trial in Singapore, expected to complete within two years.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 10:05 am

NVS

Novartis has released new data on Zolgensma, its one-time gene therapy for Spinal Muscular Atrophy (SMA), demonstrating maintained and improved motor milestones in older and heavier children with the condition. The data highlights the safety and efficacy of Zolgensma in a broader patient population.

Portfolio Pulse from Benzinga Newsdesk

March 04, 2024 | 9:55 am

RIVN

Michal Kozlik completed a 3200-mile journey from Chicago to Nicaragua in a Rivian R1T electric truck, thanking CEO RJ Scaringe for the vehicle's performance. This showcases Rivian's electric vehicles' capability for long-distance travel, similar to their participation in the 'Long Way Up' series. Rivian, known for its R1T truck, R1S SUV, and electric delivery vans, is preparing to unveil a new SUV, the R2, priced at $48,000, with production starting in 2026.

Portfolio Pulse from Anan Ashraf

March 04, 2024 | 9:43 am

MSFT

Venture capitalists Vinod Khosla and Marc Andreessen have publicly disagreed over Elon Musk's lawsuit against OpenAI and Sam Altman. Khosla, supporting OpenAI, criticizes Musk's lawsuit as a distraction and emphasizes the importance of not open-sourcing AI technology for national security, likening it to the Manhattan Project. Musk's lawsuit accuses OpenAI and its major investor, Microsoft Corp. (NASDAQ:MSFT), of betraying OpenAI's founding agreement by prioritizing profit and seeks to prevent Microsoft from using advanced AI models like GPT-4.

Portfolio Pulse from Rounak Jain

March 04, 2024 | 9:17 am

BYDDY

TSLA

BYD Co, a leading Chinese EV manufacturer, has cut the price of its new Yuan Plus version by 12% to compete in China's intense EV market. This move is part of a broader strategy to attract customers amid a cooling market, where rivals like Tesla have also reduced prices. BYD's price cut reflects its aggressive approach to maintaining a competitive edge in the world's largest automobile market.

Portfolio Pulse from Anan Ashraf

March 04, 2024 | 9:04 am

HYMLF

Hyundai Motor Co's Ioniq 5 EV is set for a refresh with significant updates including a larger battery capacity, over-the-air updates, and new interior features, as revealed on Hyundai's Korean website. The updates aim to enhance the vehicle's competitiveness against rivals like Tesla's Model Y, in line with South Korea's new EV policy supporting domestic automakers. The refresh includes an increased battery capacity from 77.4kWh to 84kWh, extending the range to approximately 301 miles, and introduces features such as a rear window wiper and Hyundai's 'Connected Car Navigation Cockpit'. The price remains unchanged in Korea, with expectations for the U.S. pricing to follow suit.

Portfolio Pulse from Benzinga Neuro

March 04, 2024 | 8:41 am

GOOG

GOOGL

Sergey Brin, Google co-founder, admitted the Gemini image generator was released without adequate testing, leading to significant errors. This follows CEO Sundar Pichai's acknowledgment of the issue as 'completely unacceptable'. The controversy arose after Gemini produced inaccurate images, prompting Google to temporarily halt its image generation feature. The company is working to resolve the issues, but a timeline for the feature's return remains unclear.

Portfolio Pulse from Rounak Jain

March 04, 2024 | 8:10 am

FFND

TSLA

Gary Black, a Tesla bull, suggests that Tesla and other EV leaders need to improve communication to convince rational pragmatists to adopt electric vehicles, similar to how Apple convinced users to switch to iPhones. Despite high interest rates, Black believes effective communication, not price cuts, is key to boosting EV adoption. Tesla's recent financial performance has been underwhelming, with missed expectations and concerns over first-quarter deliveries. Black holds Tesla in the Future Funds Active ETF (FFND) with a 5.07% weighting.

Portfolio Pulse from Shanthi Rexaline

March 04, 2024 | 7:51 am

AMZN

META

MSFT

NVDA

Dan Niles, a prominent hedge fund manager, has selected Nvidia, Meta, Microsoft, and Amazon as his top stock picks for 2024, citing their earnings potential amid AI bubble concerns. Despite negative revisions for other tech giants, these companies have seen a 50% average increase in EPS expectations since last year. Nvidia's leadership in AI chip production, Meta's investment in Nvidia, Microsoft's expansion of AI technologies, and mixed sentiment on Amazon highlight the diverse factors influencing these picks.

Portfolio Pulse from Benzinga Neuro

March 04, 2024 | 7:05 am