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F

TSLA

Ford Motor Co (NYSE:F) CEO Jim Farley celebrated Ford's achievement of the new Ford Ranger becoming the best-selling vehicle in Australia for 2023, marking the first time in nearly 30 years a Ford vehicle has topped sales charts in the country. This success follows Ford's entry into the Australian electric vehicle market and plans to introduce at least five new electric vehicles by the end of 2024. Meanwhile, Tesla Inc. (NASDAQ:TSLA) continues to experience strong demand in Australia, with its Model 3 and Model Y nearly selling out in June.

Portfolio Pulse from Ramakrishnan M

January 04, 2024 | 6:25 am

F

TM

TSLA

VWAGY

Automobile manufacturers are divided on the UK's zero-emission vehicle (ZEV) mandate. Toyota (NYSE:TM), Jaguar Land Rover, and Nissan seek to delay the mandate, citing concerns over financial and brand damage. In contrast, Volkswagen (OTC:VWAGY), Ford (NYSE:F), and Tesla (NASDAQ:TSLA) are advocating for stricter ZEV regulations. The current mandate requires 22% of new cars sold in 2024 to be zero-emission, increasing to 80% by 2030. The UK government has introduced some flexibility in the rules after lobbying efforts.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 5:23 am

AMZN

PDD

SE

TikTok, owned by ByteDance Ltd, is planning a significant expansion of its U.S. e-commerce operations with a revenue target of $17.5 billion, challenging Amazon (AMZN) and other e-commerce platforms like PDD Holdings Inc's Temu and Shein. TikTok Shop, which integrates shopping with short videos and live streams, is expected to increase merchandise volume by 2024. ByteDance's revenue grew by 30% in 2023, surpassing $110 billion. The expansion includes increasing seller fees to boost sales after a reported loss in the e-commerce vertical last year. TikTok's U.S. user base of 150 million could impact the e-commerce landscape.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 4:55 am

AAPL

Ming-Chi Kuo, a prominent Apple Inc observer, has revealed that the iPhone 16 Pro and iPhone 17 models will feature significant camera upgrades. The iPhone 17 is expected to have a 24MP/6P front camera lens, an improvement from the 12MP/5P lens in the iPhone 15 & 16. The iPhone 16 Pro series will include a periscope lens and an enhanced 48MP ultra-wide camera. These upgrades are anticipated to greatly improve image quality, addressing previous concerns over the iPhone 15 and 15 Pro's image capabilities.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 4:54 am

AMC

CALM

LI

SOFI

TSLA

U.S. stocks closed lower on Wednesday, with the Nasdaq Composite down by over 170 points. AMC Entertainment announced exchange agreements and received a price target adjustment from B. Riley Securities. Cal-Maine Foods reported disappointing Q2 results. Li Auto was initiated with a Buy rating by Goldman Sachs. SoFi Technologies was downgraded by Keefe, Bruyette & Woods. Tesla shares fell after comments from GLJ Research's CEO on the affordability of EVs.

Portfolio Pulse from Benzinga Neuro

January 04, 2024 | 2:00 am

BLK

BTCUSD

Optimism is growing for the approval of a spot Bitcoin ETF following meetings between SEC staff and representatives from NYSE, Nasdaq, and CBOE. Insiders suggest approvals could be announced soon, with trading starting the following week. However, Matrixport predicts the SEC will reject all applications, citing the Democrat majority and Chairman Gensler's cautious stance on crypto. Bitcoin's value dropped 7% following Matrixport's report. If approved, the ETF would offer retail investors easier access to Bitcoin, potentially at lower costs, and could attract a broader investor base with firms like BlackRock and Fidelity involved.

Portfolio Pulse from Murtuza Merchant

January 03, 2024 | 11:36 pm

CMPS

The American Medical Association has activated new CPT III codes for psychedelic-assisted therapies, which are temporary codes for emerging treatments. These codes will facilitate reimbursement and access to such therapies in the U.S. MAPS PBC and COMPASS Pathways (NASDAQ:CMPS) have been instrumental in developing these codes, which could lead to permanent CPT I codes if usage data supports it. MAPS PBC is awaiting FDA approval for MDMA therapy for PTSD, which could lead to DEA rescheduling of MDMA for medical use.

Portfolio Pulse from Lara Goldstein

January 03, 2024 | 10:50 pm

CBOE

GS

CBOE has approved Fidelity's application for the listing of shares for its spot Bitcoin ETF, indicating progress towards regulatory acceptance of Bitcoin ETFs. Fidelity's Wise Origin Bitcoin Trust will charge a lower fee than competitors. Goldman Sachs is expected to become an authorized participant for Bitcoin ETFs by BlackRock and Grayscale, facilitating the creation and redemption of ETF shares. Bitcoin's price saw a 4.4% drop in the past 24 hours.

Portfolio Pulse from Khyathi Dalal

January 03, 2024 | 10:45 pm

AMZN

TikTok is increasing seller fees for TikTok Shop from 2% to 8% and adding a $0.30 commission fee. The platform aims to boost its e-commerce vertical despite a projected loss of over $500 million last year. TikTok is also banning links to outside retailers to keep sales within its ecosystem, competing with Douyin in China. TikTok has built logistics in the U.S. and China to support direct product sales. Amazon does over $500 billion in U.S. e-commerce sales annually. TikTok faces challenges as Montana and other states enact bans, although a federal judge blocked Montana's ban.

Portfolio Pulse from Aaron Bry

January 03, 2024 | 10:27 pm

CELU

BioCellgraft has entered into a commercialization agreement with Celularity (CELU) to manufacture and distribute products for therapeutic use in oral healthcare. BioCellgraft will market these products under private label brand names, which will be announced in early 2024. The products include treatments for soft tissue defects and serve as barrier membranes in various dental applications. The collaboration aims to meet unmet needs in oral healthcare by combining BioCellgraft's expertise in dentistry with Celularity's placental-derived biomaterial technology.

Portfolio Pulse from Charles Gross

January 03, 2024 | 10:22 pm