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JOBY

Joby Aviation, Inc. (NYSE:JOBY) has signed a Memorandum of Understanding (MoU) with three Abu Dhabi government departments to establish and scale its electric air taxi service in Abu Dhabi and beyond. This agreement includes the development of a full air taxi ecosystem, training, infrastructure, flight operations, and potentially a manufacturing presence in Abu Dhabi. The partnership aims to advance mobility solutions and marks Joby's expansion into the UAE, complementing its exclusive rights to operate air taxi services in Dubai. Joby's aircraft, designed for zero-emission flights, was showcased in Abu Dhabi, highlighting its capabilities for fast and clean air travel within the UAE.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 4:39 pm

GDX

NEM

RING

Newmont Corporation (NYSE:NEM) shares surged after reporting first-quarter FY24 results with revenue of $4.023 billion, surpassing the consensus of $3.670 billion. Gold production decreased by 4% Y/Y to 1.675 million ounces, with a noted decline in output at Tanami due to planned mill shutdown and seasonal rainfall, as well as ongoing stripping campaigns at Boddington and Akyem. Adjusted EBITDA increased by 23% Q/Q to $1.694 billion, and adjusted EPS was $0.55, beating the consensus of $0.36. The company declared a dividend of $0.25 for Q1 FY24 and reaffirmed its FY24 gold production outlook of around 6.9 million ounces with an AISC of $1,400 per ounce. Newmont also expects to spend $1.7 billion-$1.8 billion on Tanami Expansion 2, with commercial production expected in the second half of 2027, and is on track to deliver $500 million in synergies from the Newcrest transaction by the end of 2025. Investors can gain exposure to Newmont through the iShares MSCI Global Gold Miners ETF (NASDAQ:RING) and VanEck Gold Miners ETF (NYSE:GDX).

Portfolio Pulse from Lekha Gupta

April 25, 2024 | 4:38 pm

SIMS

SLAB

XSD

Needham analyst N. Quinn Bolton upgraded Silicon Laboratories (SLAB) to a Buy rating from a Hold, with a price target of $150, citing strong positioning for semiconductor cyclical recovery and IoT expansion. Bolton highlighted inventory de-stocking, new design wins, and end market demand improvements as drivers for a second-half recovery. He expects SLAB to achieve double-digit top-line growth into 2026, with 2024 revenue and EPS projections adjusted to $601.4 million and $(1.85), respectively. SLAB shares rose 2.68% to $117.33. Investors can also gain exposure through SIMS and XSD ETFs.

Portfolio Pulse from Anusuya Lahiri

April 25, 2024 | 4:38 pm

AMZN

GOOG

GOOGL

META

SNAP

SPY

ByteDance, the owner of TikTok, would rather shut down the app if it becomes unprofitable than sell it, due to the integral role its algorithms play in the company's overall operations. This stance makes a sale of the app unlikely, according to sources.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 4:28 pm

AMZN

ONLN

XLY

Amazon's AWS plans to invest $11 billion in Indiana for a new data center campus, marking the state's largest capital investment. This move will create at least 1,000 jobs and support AI technologies. AWS leads the global cloud market with a 31% share. Amazon's stock has risen over 66% in the past year, and its growth in AI and cloud services is expected to continue. Investors can gain exposure to Amazon through ETFs like XLY and ONLN.

Portfolio Pulse from Anusuya Lahiri

April 25, 2024 | 4:17 pm

EYEN

Eyenovia's stock price increased following the announcement of clinical and scientific updates on its FDA-approved products, Mydcombi and Clobetasol Propionate Ophthalmic Suspension.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 4:16 pm

HOOD

'Dogecoin Killer' Shiba Inu (SHIB) sees a 2,092% burn rate spike and is now available for trading on Robinhood for New York residents. K9finance becomes the official LSD for Shibarium, aiming to boost its network's value and trading volume. Shibariumscan and IntoTheBlock data show significant growth in contracts and transaction volumes, indicating increased activity and interest in SHIB.

Portfolio Pulse from Khyathi Dalal

April 25, 2024 | 4:12 pm

ACON

Aclarion, Inc. (ACON) shares surged following the announcement that its Nociscan solution will be utilized in the LIFEHAB trial for diagnosing and treating chronic low back pain. This development marks a significant milestone for Aclarion, potentially enhancing its market position and product validation.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 4:10 pm

SGBX

Safe & Green Holdings (SGBX) shares surged following the announcement of an agreement to manufacture four container-based electrical distribution centers for a client in the big box retailer market. This multi-unit order signifies a potential expansion in SGBX's business operations and market reach.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 4:09 pm

BTCUSD

ETHUSD

The 'Buy Bitcoin' sign, shown during a 2017 Congressional hearing, sold for $1.027 million at auction, reflecting Bitcoin's significant value increase since then. The sale, made in 16 bitcoin, underscores the growing interest in digital assets, including cryptocurrencies like Bitcoin and Ethereum, and viral internet memes. This trend is highlighted by another auction for a popular meme, with the highest bid at 15 Ethereum. These events illustrate the rising popularity and value of digital and crypto assets.

Portfolio Pulse from Murtuza Merchant

April 25, 2024 | 4:01 pm