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F

Ford is reducing its workforce at the Rogue Electric Vehicle Center by two-thirds due to decreased demand for the F-150 Lightning, shifting focus to smaller, cheaper EVs. The company plans to reallocate 1,400 workers, with no anticipated job losses, and add a third shift at the Michigan Assembly Plant to accommodate the production of other models. This move contrasts sharply with the previous year's hiring spree to meet the high demand for the F-150 Lightning.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:25 pm

NKLA

Nikola Corporation (NASDAQ:NKLA) shares have surged over 50% in the past five days, following the unveiling of its first commercial hydrogen fueling station in Alberta, Canada, and the inauguration of a HYLA hydrogen refueling station in Southern California. The stock has become a trending ticker on WallStreetBets, with 17.78% of shares sold short, contributing to significant price movements. Analysts use various methods for stock prediction, including technical analysis, with Nikola's 200-day moving average at $1.17, above its current price.

Portfolio Pulse from Erica Kollmann

March 28, 2024 | 4:11 pm

ISUZY

TM

Toyota Motor Corporation (NYSE:TM) reported a 6.9% drop in global sales for February, marking its first year-over-year decrease in thirteen months. The decline was attributed to a production slump of 2.6% and intense competition, particularly in China where a price battle is ongoing. Despite a 16% surge in U.S. sales and a 14% increase in Europe, sales in Japan plummeted due to production halts at Daihatsu. Toyota also announced plans to start mass production of an electric Hilux pickup by the end of 2025, following Isuzu Motors, Ltd. (OTC:ISUZY) in the electric pickup market in Thailand.

Portfolio Pulse from Nabaparna Bhattacharya

March 28, 2024 | 4:11 pm

ALBT

Avalon GloboCare shares surged following the announcement of the extension of its exclusive distribution agreement with Qi Diagnostics for the KetoAir Breathalyzer Device and related accessories in North America, South America, the UK, and the EU.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:05 pm

CVSI

CV Sciences, Inc. (OTCQB:CVSI) reported its fiscal year 2023 financial results, showing a gross margin increase to 44.3% from 34.2% in 2022, and a net income of $3.1 million, reversing a $9.1 million net loss from the previous year. Revenue remained flat at $16 million, while gross profit rose to $7 million from $5.5 million. Operating expenses decreased significantly to $3.7 million from $12.4 million. The company highlighted its focus on innovation and market share growth in the CBD sector, particularly through new product development like pet chews.

Portfolio Pulse from Jelena Martinovic

March 28, 2024 | 4:04 pm

AMGN

Deep-pocketed investors have shown a bullish sentiment towards Amgen (NASDAQ:AMGN), with options trading data from Benzinga indicating a significant interest in the stock. The data reveals a majority of investors leaning bullish, with notable options activities including both calls and puts, suggesting expectations of Amgen's stock price movement within a $240.0 to $320.0 range. Amgen, a leader in biotechnology-based human therapeutics, has seen its stock price slightly down at $285.91, with an RSI indicating it may be approaching overbought territory. The next earnings report is expected in 28 days.

Portfolio Pulse from Benzinga Insights

March 28, 2024 | 4:03 pm

ALDX

Aldeyra Therapeutics' stock is trading higher following the announcement of a clinical development plan for reproxalap in dry eye disease, aimed at enabling the resubmission of a New Drug Application.

Portfolio Pulse from Benzinga Newsdesk

March 28, 2024 | 4:02 pm

UPS

UPS (NYSE:UPS) outlined an ambitious growth strategy at its 2024 Investor and Analyst Day, targeting $108 to $114 billion in revenue by 2026. The plan includes a focus on high-margin segments, technological investments, and operational efficiency improvements. Despite expecting a challenging first half of 2024, UPS aims for a consolidated operating margin of 13% by 2026. The company also highlighted its commitment to sustainability, diversity, and employee satisfaction.

Portfolio Pulse from Tornado

March 28, 2024 | 4:01 pm

GM

At the BofA Securities 2024 Automotive Summit, General Motors CFO Paul Jacobson discussed GM's progress in EV production and capital allocation. GM is on track to meet its 2024 EV production goal, with the Cadillac LYRIQ setting monthly sales records. The company aims for EV profitability by 2025 and has initiated a $10 billion share repurchase program. Jacobson also highlighted a $2 billion cost reduction program and the strategic review of Cruise, GM's autonomous vehicle technology.

Portfolio Pulse from Tornado

March 28, 2024 | 3:58 pm

AAPL

AMZN

GLD

GOOG

META

MSFT

NVDA

QQQ

SPY

TSLA

USO

Nvidia (NVDA) has fallen below its trendline, indicating potential negative implications for NVDA and tech stocks. Fed's Christopher Waller suggests interest rates will remain unchanged due to disappointing inflation data. Early trade money flows show positive trends for AMZN and GOOG, neutral for MSFT and META, and negative for NVDA, AAPL, and TSLA. Mixed flows are observed in SPY and QQQ ETFs. Gold, represented by GLD, hits a new high with positive momo crowd buying, while oil, represented by USO, also sees buying. Bitcoin surpasses $70,000.

Portfolio Pulse from The Arora Report

March 28, 2024 | 3:55 pm