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LLY

Eli Lilly's shares were climbing during Friday's trading session. The stock has been under pressure due to macro uncertainties, not fundamental concerns, according to BofA Securities. Analyst Geoff Meacham reiterated a Buy rating on Eli Lilly, raising the price target from $600 to $700. Meacham highlighted the company's upcoming obesity drugs, including Mounjaro, as key value drivers. He also noted the company's potential for margin expansion and the early- and mid-stage pipeline as unappreciated parts of the story.

Portfolio Pulse from Priya Nigam

October 06, 2023 | 4:23 pm

LAZR

VLVLY

Luminar Technologies (NASDAQ:LAZR) has successfully passed its first major Run at Rate production test for Volvo Cars at its manufacturing facility in Monterrey, Mexico. This is a key requirement for automakers before the start of production. The test evaluated Luminar's ability to manufacture its LiDAR sensors on its automated line in Mexico to meet higher levels of production rates, quality, reliability, and performance requirements. The Volvo EX90 will feature Luminar as standard on every vehicle.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 4:16 pm

AUVI

Applied UV has announced that its new product, the Airocide Pro+ air purification system for food preservation, will be showcased at the Global Produce & Floral Show. This news has led to an increase in the company's stock trading.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 4:16 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is reportedly working on a new project named 'Giga Water Loop', according to a building permit discovered by Electrek. The permit details a project with an Austin Energy electric pole located near a proposed pipe on the northern side of the river. However, no further details about the project have been revealed. Tesla's Gigafactory Texas, where the project is presumably located, is a comprehensive manufacturing site for the Model Y, Cybertruck, battery cells, and cathode materials.

Portfolio Pulse from Benzinga EV Insights

October 06, 2023 | 3:40 pm

BMWYY

VWAGY

BMW CFO, Walter Mertl, has expressed concern over the European Union's investigation into subsidies for EVs manufactured in China, warning that it could trigger retaliatory actions from Beijing. This could potentially affect BMW's sales in China and its exports to Europe. Despite this, Mertl remains optimistic about BMW's Q3 results and confirmed a surge in EV sales. However, he acknowledged ongoing supply chain issues.

Portfolio Pulse from Shivani Kumaresan

October 06, 2023 | 3:33 pm

XRPUSD

Benzinga's Future of Digital Assets conference is set to take place on Nov. 14 in New York. The event will feature discussions on the future of cryptocurrencies, the value of crypto and blockchain, crypto compliance and regulation, and the impact of blockchain beyond finance. Speakers include representatives from Franklin Templeton Digital Assets, Bakkt, TradeStation Group Inc., Crypto Council for Innovation, Chamber of Digital Commerce, Aventus, Heathrow Airport, Vodafone, Algorand Foundation, Truist Ventures, Ripple, Google Cloud, Grayscale Investments, Public, and Kartoon Studios.

Portfolio Pulse from Murtuza Merchant

October 06, 2023 | 3:31 pm

AAPL

Apple Inc. has successfully fixed the overheating issue in iPhone 15 Pro with the iOS 17.0.3 update, as confirmed by thermal imaging. The update has not impacted the performance of the device, averting a potential crisis. The iPhone 15 Pro had faced criticism for reaching temperatures as high as 118 degrees Fahrenheit.

Portfolio Pulse from Rounak Jain

October 06, 2023 | 3:10 pm

AMZN

Medterra, a maker of hemp-derived CBD products, has announced its official launch on Amazon's platform. This move is expected to provide customers with easier access to Medterra's premium hemp products. To celebrate the launch, Medterra will participate in Amazon Prime Day Promotions on October 10 and 11, offering special deals and discounts on a range of its products.

Portfolio Pulse from Jelena Martinovic

October 06, 2023 | 2:55 pm

ALSN

Allison Transmission Holdings Inc (ALSN) has launched eGen Power 85S axles, a new addition to its fully electric axles family. The product will be integrated into Isuzu Novo VOLT fully electric buses, marking the first time an eGen Power e-Axle has been used in a midi bus application. In August, ALSN secured a contract from Mack Trucks for its 4500 Rugged Duty Series (RDS). As of June 30, 2023, the company's cash and equivalents stood at $351 million.

Portfolio Pulse from Lekha Gupta

October 06, 2023 | 2:53 pm

MDLZ

Mondelez International Inc's (MDLZ) shares are trading lower by 5.6% due to potential impact of weight-loss drugs on food sales as suggested by Walmart. The shift towards health-consciousness and weight management could reduce demand for snacks and treats produced by Mondelez. Rising yields could also negatively impact dividend stocks like Mondelez, leading to a potential shift of investments away from such stocks.

Portfolio Pulse from Henry Khederian

October 06, 2023 | 2:40 pm