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TSLA

The week ending Oct. 6 saw a downturn in electric vehicle (EV) stocks, with Tesla reporting lower than expected Q3 deliveries but affirming its full-year goal. Tesla also announced price cuts for its Model Y and Model 3 EVs. Rivian's stock fell by 23% following its announcement of a $1.5 billion green note offering. Lucid launched a cheaper version of its Air sedan. Ford reported higher Q3 EV sales than General Motors. Faraday Future announced plans to deliver another premium EV. The KraneShares Electric Vehicles and Future Mobility Index ETF ended the week up 0.92%.

Portfolio Pulse from Shanthi Rexaline

October 07, 2023 | 2:56 pm

TSLA

Joe Rogan and UFC champion Sean O’Malley discussed the exceptional speed of Tesla Inc.’s Model X Plaid on a recent podcast. Rogan expressed his excitement about the Model X Plaid’s performance, stating that it's faster than his Porsche and makes no sound. Elon Musk responded to the podcast discussion, reiterating that he 'stole' the Tesla product roadmap from 'Spaceballs'.

Portfolio Pulse from Ananya Gairola

October 07, 2023 | 9:40 am

MGRM

PDEX

Monogram Orthopaedics Inc has entered into an exclusive supply agreement with Pro-Dex, Inc. Under the agreement, Monogram will purchase end-effectors, gearing, saws, and other surgical products from Pro-Dex.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:34 pm

RYAM

Rayonier Advanced Materials Inc. (NYSE:RYAM) has announced that it will temporarily idle its Témiscaming Paperboard operation and one of its High-Yield Pulp lines for 3 weeks starting October 7, 2023. The decision is aimed at optimizing inventory levels and addressing lower-than-expected demand. The company assures that customer orders will not be affected.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:33 pm

NVS

The FDA has approved Novartis' Cosentyx as the first intravenous formulation interleukin-17A antagonist for rheumatic diseases. The new IV administration option will be available in Q4 of 2023.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:24 pm

GOOG

GOOGL

LLY

META

NEE

NVDA

NVO

PEP

PXD

QQQ

SPY

TLT

XLC

XLK

XLV

XOM

ZROZ

The US Congress averted a government shutdown by passing a stopgap funding bill. Treasury yields surged, with the 10-year yield reaching its highest level in 16 years. This has led to a significant loss in value for funds and ETFs investing in long-dated Treasury bonds. The September jobs report exceeded expectations, indicating a strong labor market and increasing the risk of further Federal Reserve tightening. Walmart reported a decrease in food demand due to the use of weight-loss drugs. Exxon Mobil is considering acquiring Pioneer Natural Resources. The S&P 500 and Nasdaq 100 rebounded from weeks of declines. Several sectors and mega-cap stocks displayed strength this week.

Portfolio Pulse from Piero Cingari

October 06, 2023 | 8:14 pm

AMZN

United Launch Alliance (ULA) has successfully launched the first mission for Amazon's Project Kuiper, marking the beginning of a broader commercial partnership between the two companies. The mission aims to provide fast, affordable broadband service to unserved and underserved communities worldwide. ULA's next launch will be the inaugural Vulcan mission from Cape Canaveral Space Force Station in Florida.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:11 pm

MSFT

NVDA

Microsoft is planning to unveil its first artificial intelligence chip at its annual developers' conference next month. The chip, similar to Nvidia GPUs, is designed for data center servers that train and run large language models. This could help Microsoft reduce its reliance on Nvidia-designed AI chips, which have been in short supply due to high demand.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:09 pm

OTGLY

CD Projekt Red's game 'Cyberpunk 2077' has sold over 25 million units, surpassing 'The Witcher 3: Wild Hunt'. The recent 'Phantom Liberty' expansion for the game sold three million units in its first week. Despite a troubled launch in 2020, the game has received multiple updates and a successful Netflix anime adaptation. The company also confirmed that it would be letting go of approximately 30 employees by year's end.

Portfolio Pulse from Franca Quarneti

October 06, 2023 | 8:07 pm

NIU

Niu Technologies (NASDAQ:NIU) reported Q3 2023 sales volume of 265,923 units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters, and e-bikes. This is a decrease compared to the previous year due to a slowdown in consumer activity in China. However, new products contributed to approximately 80% of total sales in Q3. The company also reported consistent quarter-on-quarter growth in the overseas micro-mobility market, particularly in Europe and the United States.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:07 pm