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TSLA

Tesla Inc (NASDAQ:TSLA) is set to continue its trend of producing American-made vehicles with the upcoming Cybertruck, which is expected to be one of the most American-made pickup trucks. The Cybertruck's Monroney sticker shows a high U.S. and Canadian parts content of 65%, with final assembly in Austin, Texas. The motor, gearbox/transmission, battery assembly, and on-board charger assembly are also carried out in the U.S. This commitment to domestic manufacturing could increase the Cybertruck's appeal to consumers who prioritize local industry support.

Portfolio Pulse from Benzinga EV Insights

January 03, 2024 | 7:51 pm

NVS

Novartis shares are up following the announcement of a collaboration and license agreement with Voyager Therapeutics for gene therapies targeting Huntington's disease and spinal muscular atrophy.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 7:48 pm

CRNC

MSFT

Cerence Inc (CRNC) and Microsoft Corp (MSFT) have partnered to integrate Cerence's automotive technology with Microsoft Azure AI Services, including an automotive-grade version of OpenAI's ChatGPT model. This collaboration aims to enhance in-car experiences through voice and touch interfaces, leveraging Cerence's transportation expertise and Microsoft's cloud and AI capabilities. Cerence plans to use its Cerence Assistant platform to implement these advancements in new vehicles, offering continuous updates via Azure. CRNC shares dropped by 3.07% to $18.50 recently.

Portfolio Pulse from Anusuya Lahiri

January 03, 2024 | 7:42 pm

CMCSA

LGF

MSFT

NTDOY

TTWO

WBD

Jack Black, known for voicing Bowser in 'The Super Mario Bros. Movie', has joined the cast of the 'Minecraft' movie, produced by Vertigo, Legendary, and Warner Bros. Discovery (WBD). The film, set for release on April 4, 2025, also stars Jason Momoa and is directed by Jared Hess. Black is also involved in 'Borderlands', a Lions Gate Entertainment (LGF) film based on the Take-Two Interactive Software (TTWO) game. 'Super Mario', produced by Nintendo (NTDOY) and Universal Pictures (CMCSA), was a major hit. Microsoft (MSFT) acquired Mojang, the studio behind 'Minecraft', which continues to grow in popularity.

Portfolio Pulse from Chris Katje

January 03, 2024 | 7:16 pm

AMD

AVGO

INTC

MRVL

NVDA

SOXX

TXN

Despite a recent drop in semiconductor stocks, Bank of America maintains a bullish stance on the sector for 2024, citing a 65% gain in 2023. The Philadelphia Semiconductor Index (SOX) and the iShares Semiconductor ETF (SOXX) are highlighted, with SOXX falling 5.4% over two sessions. BofA analyst Vivek Arya acknowledges risks such as premium valuations, market rotation, and volatility but points to positive factors like a new upcycle, the potential of Generative AI, and the U.S. CHIPS Act. BofA sees Nvidia (NVDA), Broadcom (AVGO), AMD, and Marvell (MRVL) well-positioned to benefit from GenAI, while Intel (INTC), Texas Instruments (TXN), and Micron (MU) could gain from the U.S. CHIPS Act.

Portfolio Pulse from Neil Dennis

January 03, 2024 | 7:12 pm

TTOO

T2 Biosystems, Inc. (NASDAQ:TTOO) shares rose after the company submitted a 510(k) premarket notification to the FDA to expand the use of its T2Candida Panel for pediatric testing. The T2Candida Panel is a unique FDA-cleared diagnostic test for detecting sepsis-causing Candida directly from blood. The company's CEO, John Sperzel, highlighted the importance of this step for improving clinical outcomes in critically ill children. TTOO shares increased by 12.57% to $6.09.

Portfolio Pulse from Nabaparna Bhattacharya

January 03, 2024 | 6:39 pm

Toyota Motor Corporation (NYSE:TM) reported a 6.6% increase in 2023 U.S. sales, reaching nearly 2.25 million vehicles. Q4 sales rose 15.4% Y/Y, and December sales surged 25.5% Y/Y. The company plans to offer an electrified option for every Toyota and Lexus model in the U.S. by the end of 2025. TM shares saw a slight increase of 0.28% to $181.87.

Portfolio Pulse from Nabaparna Bhattacharya

January 03, 2024 | 6:17 pm

ETHUSD

A total of 4,010.57 Ether (ETH) worth approximately $8.9 million was burned on Tuesday, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% per year, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -2.55% yesterday.

Portfolio Pulse from Benzinga Insights

January 03, 2024 | 6:00 pm

HYMTF

Hyundai Motor Co reported a 6.9% increase in global sales for 2023, reaching 4.216 million vehicles. Sales grew in Korea, North America, Europe, and India, despite challenging market conditions. However, December sales dipped by 0.8% year-over-year. The company is focusing on strengthening its global EV production infrastructure and aims for global sales of 4.24 million units in 2024, including the Genesis brand. Hyundai is optimizing its product portfolio and vehicle supply management to target sales of 704,000 units in Korea and 3.54 million units overseas.

Portfolio Pulse from Lekha Gupta

January 03, 2024 | 5:56 pm

ENS

Enersys (ENS) and CTEK have entered into a strategic collaboration to bring high-performance chargers to global markets. The financial terms of the partnership have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 03, 2024 | 5:50 pm