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TSLA

Goldman Sachs analyst Mark Delaney maintains a Neutral rating on Tesla Inc (TSLA) with a price target of $235. Delaney highlights Tesla's potential in AI licensing/services, particularly with its Full Self Driving (FSD) product and Dojo AI training. While acknowledging the competitive landscape, including Nvidia, he suggests Tesla's AI leadership could lead to significant market opportunities if executed well. Delaney estimates Tesla's FSD could generate $50-$100 billion annually by 2030, from the current $1-$3 billion. He forecasts FY23 revenue and EPS slightly below consensus at $96.8 billion and $2.64, respectively. TSLA shares were up 5.60% at $236.23 recently.

Portfolio Pulse from Anusuya Lahiri

November 14, 2023 | 7:34 pm

BTCUSD

ETHUSD

GOOG

GOOGL

At Benzinga's 'Future of Digital Assets' event, Widmann expressed his belief that smaller scale projects will be key in transforming the structures of capital markets.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 7:32 pm

GOOG

GOOGL

Richard Widmann, Google Cloud's Head of Strategy for Web3, anticipates that businesses will begin to engage in more thoughtful experimentation with digital assets, leading to solutions for existing business problems.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 7:29 pm

IMCC

IM Cannabis Corp (NASDAQ:IMCC) reported a 13% decrease in Q3 2023 revenue compared to the same period last year, with figures at CA$12.4 million. The company saw a net loss from continuing operations of CA$2.1 million, which is an improvement from CA$4.5 million in Q3 2022. Adjusted EBITDA loss decreased by 65% to CA$1.3 million, and gross profit increased by 30% to CA$2.6 million. Operating loss also decreased by 58% to CA$2.3 million. CEO Oren Shuster emphasized the company's move towards sustainable profitability and focus on high-end products in the Israeli market. CFO Itay Vago highlighted the impact of currency volatility but noted operational cost reductions. The company launched high THC strains and outsourced delivery services to save costs, amidst geopolitical tensions in Israel. IMCC's stock was up 1.03% at $0.44 per share.

Portfolio Pulse from Patricio Liddle

November 14, 2023 | 7:26 pm

BMWYY

BMW of North America, a subsidiary of Bayerische Motoren Werke AG (OTC:BMWYY), is expanding its ChargeForward smart charging service across the U.S. This coincides with the launch of the all-electric BMW i5. ChargeForward allows customers to receive incentives for charging their vehicles during times of high renewable energy availability. The program is open to all BMW BEV and PHEV models from 2018 onwards in the lower 48 states. The expansion utilizes carbon data specific to each region's electric grid to optimize charging schedules. BMWYY shares rose 3.89% to $34.20.

Portfolio Pulse from Shivani Kumaresan

November 14, 2023 | 7:21 pm

ATAI

CMPS

Atai Life Sciences (NASDAQ:ATAI) reported Q3 financial results with a cash burn of nearly $20M QoQ. Cash, equivalents, and short-term investments totaled $209.0 million as of Sept. 30, 2023. R&D and G&A expenses decreased compared to 2022, but net income loss increased to $44.2 million. The company expects its cash position to fund operations into H1 2026. Pipeline updates include progress on studies for various neuropsychiatric therapies. Atai acquired all shares of DemeRx IB Inc., making DMX-1002 a wholly-owned asset. COMPASS Pathways (NASDAQ:CMPS), a partner of Atai, is conducting a major Phase 3 program with topline data expected in summer 2024 and mid-2025.

Portfolio Pulse from Lara Goldstein

November 14, 2023 | 7:13 pm

VTGN

Stifel initiated coverage on Vistagen Therapeutics Inc (VTGN) with a Buy rating and a $12 price target, citing the potential of its lead asset, fasedienol, for social anxiety disorder. Despite a mixed outcome in previous studies, success in upcoming trials could support a marketing application. VTGN's valuation is seen as undervalued for a phase 3 CNS asset, with a current market cap around $60 million. VTGN shares rose 16.90% to $3.19.

Portfolio Pulse from Vandana Singh

November 14, 2023 | 7:08 pm

NVO

Belgium has temporarily banned the use of Novo Nordisk's Ozempic for weight loss due to a medication shortage. Ozempic, primarily for Type 2 diabetes, has been used off-label for weight loss, increasing demand. The ban aims to preserve supplies for diabetic patients, with restricted availability expected until June 2024. Novo Nordisk is investing to increase supply, with a recent $6 billion investment to expand manufacturing in Denmark. NVO shares dropped 1.55% following the news.

Portfolio Pulse from Vandana Singh

November 14, 2023 | 7:05 pm

LMT

Lockheed Martin has expanded its presence in Huntsville with the opening of a new 25,000-square foot missile defense lab, costing $16.5 million. This facility enhances the company's digital integration capabilities for the nation's homeland defense interceptor program.

Portfolio Pulse from Benzinga Newsdesk

November 14, 2023 | 6:57 pm

FSR

Fisker Inc (NYSE:FSR) shares dropped after reporting Q3 results, citing delivery issues due to logistical bottlenecks. Needham analyst Chris Pierce maintained a Hold rating, lowering '24 estimates due to production slowdowns to adjust inventory levels. Raymond James analyst Pavel Molchanov kept a Market Perform rating, noting intensifying competition and operational risks in scaling production. Concerns about the long-term margin profile were raised, especially since the Ocean model is ineligible for the U.S. federal tax credit. FSR shares fell 22.02% to $3.21.

Portfolio Pulse from Priya Nigam

November 14, 2023 | 6:46 pm