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TSLA

South Korea has introduced a new EV policy favoring domestic automakers Hyundai and Kia over foreign competitors like Tesla and BYD. The policy aims to give Hyundai and Kia a competitive edge by adjusting subsidies based on vehicle range, price, and battery type, disadvantaging EVs with LFP batteries, predominantly used by Tesla and BYD. This move comes as Tesla's Model Y gains global popularity and BYD leads in BEV sales, with the policy potentially increasing Hyundai's market position.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 6:53 am

CNEY

CN Energy Group, Inc. (CNEY) announced its Fiscal 2023 financial results, reporting a revenue of $57.90M, a 44% increase YoY, driven by a 39.2% increase in activated carbon sales. EPS remained flat at $(0.10).

Portfolio Pulse from Benzinga Newsdesk

February 16, 2024 | 6:30 am

GOOG

GOOGL

Alphabet Inc.'s Waymo recalled 444 self-driving cars after two collisions in Phoenix, deploying an OTA fix. The incidents, involving no injuries, highlighted potential risks in autonomous vehicle technology. Waymo's recall, a first for autonomous vehicles, followed discussions with the NHTSA. The recall and software update were completed by Jan. 12. This event, along with a separate attack on a Waymo car in San Francisco, underscores the challenges facing self-driving vehicle operators.

Portfolio Pulse from Anan Ashraf

February 16, 2024 | 6:18 am

PANW

Wedbush's Dan Ives has raised the price target for Palo Alto Networks (NASDAQ:PANW) to $425, indicating a 16% upside, based on strong cybersecurity market dynamics and increasing cloud deal momentum. Ives highlights the 'golden age of cybersecurity' with PANW at the forefront, supported by solid field checks and a favorable position in the federal sector. The recent SEC guidelines are expected to further benefit PANW and its peers. Despite a recent patent lawsuit verdict against PANW, the company's stock is seen as resilient with significant growth potential.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 6:17 am

GOOG

GOOGL

Alphabet Inc.'s Google announced the launch of a free, open-source AI-powered tool aimed at enhancing cybersecurity by detecting malware in services like Gmail and Google Drive. Additionally, Google plans to release a white paper at the Munich Security Conference, advocating for AI research and regulations in cybersecurity. This initiative is part of Google's broader effort to counter the increasing use of AI in cybercrime, as highlighted by a recent Microsoft report on state-sponsored criminal groups using AI tools like ChatGPT for cyber operations.

Portfolio Pulse from Ananya Gairola

February 16, 2024 | 5:48 am

TSLA

Tesla Inc. (NASDAQ:TSLA) has delayed the delivery of Model S and Model Y in the U.S. due to the EPA's request for retesting these vehicles over range issues. The delay, initially until February 28, has been extended to March 7. This situation arises after Tesla revised the range ratings for these models, attributed to changes in EPA testing methods and the introduction of an 'efficiency package' that increases energy consumption.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 5:33 am

COIN

Coinbase Global Inc (NASDAQ:COIN) reported a doubling in trading volume in Q4, with $154 billion traded. CEO Brian Armstrong highlighted the success of Bitcoin ETFs, noting Coinbase's significant role in custodying 90% of the $36 billion in Bitcoin ETF assets. The company's Q4 earnings exceeded expectations, with earnings of $1.04 per share and revenue of $953.8 million. Armstrong attributed part of this success to the growing appeal of Bitcoin ETFs, which have seen over $4 billion in net inflows. He also mentioned Coinbase's involvement in supporting pro-crypto candidates in the U.S. election through a Super PAC.

Portfolio Pulse from Mehab Qureshi

February 16, 2024 | 5:22 am

F

GM

STLA

TSLA

Morgan Stanley analyst Adam Jonas suggests that partnerships with each other or with China could be a strategic move for legacy automakers like Ford, General Motors, and Stellantis to compete against Chinese EV dominance. He emphasizes the inextricable link between mass EV adoption and China, noting the challenges of diversifying from Chinese supply chains due to cost, time, and regulatory hurdles. Jonas highlights Mexico's potential role as a bridge for China, with Chinese suppliers, including BYD, looking to establish plants there. Partnerships with startups, China, Tesla, or among themselves are seen as vital for legacy automakers to strengthen their EV supply chain.

Portfolio Pulse from Anan Ashraf

February 16, 2024 | 5:12 am

COIN

GOOGL

NVDA

TXG

U

Cathie Wood's Ark Invest sold shares of Coinbase (COIN), Nvidia (NVDA), and Alphabet (GOOGL), while buying shares of Unity Software (U) and 10X Genomics (TXG). The sales occurred despite Coinbase's surprise profit and amidst a Bitcoin rally. Nvidia and Alphabet shares were sold amid AI sector adjustments, with concerns over Nvidia's valuation and Alphabet facing new competition from OpenAI. Ark also increased investments in U and TXG, indicating a bullish outlook on gaming, software, and genomics sectors.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 5:07 am

NVDA

Options traders anticipate an 11% swing in NVIDIA Corp (NASDAQ:NVDA) stock around its earnings report on Feb. 21, marking the largest expected pre-earnings move in three years. The stock has already surged 50% this year, and the potential swing could shift its market value by about $200 billion. Demand for upside options remains high, with the 90-day 25 delta call skew near a five-year peak. Nvidia's recent achievements and investments in AI are seen as key growth drivers.

Portfolio Pulse from Benzinga Neuro

February 16, 2024 | 2:55 am