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ASML

SPY

TSLA

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin have seen a spike in value on the first day of 2024, with Bitcoin crossing $45K. US markets are bullish with the S&P 500 surging 24% in 2023 and tech stocks predicted to rise 25% in 2024. US office buildings face a $117B debt cliff due to interest rates. Tesla shares have a lackluster start in 2024, and the company is set to report Q4 deliveries. Danone sells its U.S. organic dairy business, and Reckitt's Mead Johnson recalls baby formula. ASML halts exports to China, and US politics and world politics see significant developments.

Portfolio Pulse from Akanksha Bakshi

January 02, 2024 | 2:12 pm

RIVN

TSLA

Tesla, Inc. (TSLA) reported Q4 deliveries surpassing estimates and achieving its full-year sales target of over 1.8 million units. Rivian Automotive, Inc. (RIVN) also reported Q4 and full-year production and deliveries, exceeding its full-year production guidance. Tesla's next earnings report is expected on Jan. 24, 2024, with analysts predicting an EPS of 74 cents and revenue of $25.258 billion. Tesla's stock rose premarket, despite broader market indications of a lower opening.

Portfolio Pulse from Shanthi Rexaline

January 02, 2024 | 2:10 pm

AMD

NVDA

Nvidia (NVDA) and AMD (AMD) stocks are trading lower following the Netherlands' decision to block exports of specific lithography systems to China, which are crucial for advanced microprocessor production. This aligns with U.S. export restrictions. ASML's export license revocation and U.S. restrictions are not expected to affect its 2023 financial projections. Nvidia introduced the GeForce RTX 4090 D to comply with U.S. export controls and delayed the launch of three new AI chips for China. AMD plans to launch the Radeon RX 7600 XT graphics card on January 22. NVDA shares dropped by 1.05% and AMD by 2.45% in premarket trading.

Portfolio Pulse from Anusuya Lahiri

January 02, 2024 | 2:09 pm

SNPS

Sassine Ghazi, in his 2024 letter to stakeholders, discusses Synopsys' (SNPS) progress and future plans. The letter likely outlines the company's achievements, strategic goals, and possibly financial performance, which is common in such communications to investors and the public.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:09 pm

LBPH

Longboard Pharmaceuticals announced positive topline data from the PACIFIC Study evaluating bexicaserin in patients with Developmental and Epileptic Encephalopathies, causing its shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:07 pm

SCLX

Scilex Holding Company (NASDAQ:SCLX) released preliminary unaudited financial results for 2023, showing significant growth in gross and net sales of their non-opioid pain management products. ZTlido, their flagship product, saw gross sales between $145M-$150M and net sales between $46M-$52M, marking an increase of 51%-56% and 21%-37% respectively from the previous year. Total product gross sales were between $150M-$155M and net sales were between $46.5M-$52.5M, indicating a growth of 56%-61% and 22%-38% respectively. These results are preliminary and have not been reviewed or audited by independent auditors.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:03 pm

CCLD

Kovo HealthTech Corporation, a company specializing in healthcare billing and coding services, has announced a partnership with CareCloud, a provider of cloud-based healthcare IT solutions. The partnership aims to integrate Kovo HealthTech's billing and coding services with CareCloud's electronic health records (EHR) platform. This collaboration is expected to enhance the efficiency and effectiveness of healthcare providers' operations by streamlining their billing processes and improving the management of patient records.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:03 pm

AZN

Allorion Therapeutics has entered into an agreement with AstraZeneca for the development and global commercialization of an EGFR L858R allosteric inhibitor, aimed at treating advanced EGFR-Mutant NSCLC. AstraZeneca has an exclusive option to license this inhibitor. Allorion could receive up to $40 million in upfront and near-term payments, over $500 million in milestone payments, and royalties on worldwide net sales.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:02 pm

COIN

Coinbase Global Inc (NASDAQ:COIN) is undergoing leadership changes with Rick Schonberg replacing Aaron Schnarch as CEO of Coinbase Custody. The company is preparing to provide custody services for potential spot Bitcoin ETF applicants, with notable clients like BlackRock, Franklin Templeton, and Grayscale Investments. Coinbase Custody, regulated by the New York Department of Financial Services and audited by Deloitte & Touche, is well-prepared for potential ETF approval. The SEC has a deadline of January 10 to decide on a spot Bitcoin ETF application. Despite a recent drop, COIN shares have surged almost 400% in the last year, with a 1.83% increase in premarket trading on Tuesday.

Portfolio Pulse from Anusuya Lahiri

January 02, 2024 | 2:02 pm

SNES

SenesTech has announced an expansion of its distribution with Pesterminators to include the deployment of its product Evolve. This expansion also extends Pesterminators' territory into the United Arab Emirates (UAE).

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:02 pm