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GM

General Motors Co (NYSE:GM) has resumed sales of the Chevrolet Blazer EV at reduced prices after addressing software issues that led to a stop-sale in December. Prices have been cut by $5,600 to $6,500 across different trims, making the vehicle more affordable, especially with a $7,500 federal EV tax credit. This move follows a year in which GM saw a 14% increase in U.S. vehicle deliveries, totaling 2.6 million.

Portfolio Pulse from Anan Ashraf

March 09, 2024 | 8:56 am

RIVN

Rivian Automotive (NASDAQ:RIVN) received over 68,000 reservations for its new R2 SUV within 24 hours of unveiling it at Laguna Beach. CEO RJ Scaringe expressed being 'overwhelmed' by the response. The R2, starting at around $45,000, and the upcoming lower-priced R3 crossover, are both positioned below Rivian's current R1 models. Rivian aims to begin R2 production in the first half of 2026. Despite a net loss of $1.52 billion in Q4 2023, Rivian maintains a strong liquidity position with $10.47 billion, including cash and credit facilities.

Portfolio Pulse from Anan Ashraf

March 09, 2024 | 4:31 am

F

Ford Motor Co (NYSE:F) is focusing on hybrid vehicles to maintain its relevance in the U.S. EV market as sales of its Mustang Mach-E decline. Despite a 36.7% increase in hybrid sales year-on-year, the Mach-E's sales dropped by 4.2% since the start of 2024, with a significant 51% drop in January. CEO Jim Farley emphasizes the long-term role of hybrids, noting their higher margins compared to EVs. Ford anticipates a 40% increase in global hybrid sales in 2024 but expects its EV segment losses to widen due to pricing pressure and investment in new vehicles.

Portfolio Pulse from Anan Ashraf

March 09, 2024 | 3:48 am

FFND

RIVN

Rivian Automotive, Inc. (RIVN) shares have rebounded following the announcement of new vehicle models, including the R2, R3, and R3X. Fund manager Gary Black predicts significant production increases and potential stock price growth, drawing parallels to Tesla's past performance. Black forecasts Rivian's production to reach 615,000 units in five to seven years, with revenue potentially hitting $22.7 billion and EBITDA $2.5 billion by 2030. He suggests a 136% upside potential for Rivian's stock, comparing valuation metrics to Tesla.

Portfolio Pulse from Shanthi Rexaline

March 09, 2024 | 3:28 am

DIS

LLY

NVO

WW

Oprah Winfrey is set to air a TV special on ABC, focusing on weight loss drugs, their benefits, and potential side effects. The special, following her departure from WeightWatchers' board, could impact the perception of weight loss drugs. Companies like Novo Nordisk and Eli Lilly, behind popular weight loss drugs Ozempic, Wegovy, and Mounjaro, could see their stocks influenced by the special's reception. The special will also be available on Hulu, a streaming platform owned by Walt Disney Co.

Portfolio Pulse from Chris Katje

March 08, 2024 | 9:59 pm

DOGEUSD

SHIBUSD

Shiba Inu (SHIB) saw a 13% increase in price, outperforming Dogecoin (DOGE) in trading volume, following news of potential token burns and increased adoption. The Shiba Inu community collected 40 Ethereum for burns, with 43 billion SHIB tokens already burned. SHIB's trading volume reached $5.3 billion, surpassing DOGE's $3.97 billion. The token is also attracting thousands of new addresses daily, indicating growing interest. Additionally, Shiba Inu's BONE token received community support for listing on Binance Futures.

Portfolio Pulse from Khyathi Dalal

March 08, 2024 | 9:44 pm

CSTL

Castle Biosciences, Inc. (NASDAQ:CSTL) announced its participation in the 2024 American Academy of Dermatology Annual Meeting, where it will present new data from its dermatologic tests, including DecisionDx-Melanoma and DecisionDx-SCC, highlighting their clinical value in managing skin cancer. The data, derived from a collaboration with the National Cancer Institute and studies involving over 5,000 patients, demonstrate improved survival rates and risk stratification for patients with cutaneous melanoma and squamous cell carcinoma. Additionally, the company discussed MyPath Melanoma, a test that aids in diagnosing challenging melanocytic lesions.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 9:32 pm

AIMD

Ainos reported a significant decrease in FY23 revenue to $122,112 from $3.52M in FY22, mainly due to reduced sales of COVID-19 Antigen Rapid Test Kits. The company's net loss slightly improved to $13.77M from $14.01M YoY. Ainos is expanding into the global pet care market through a MoU with SIDSCO and reported positive data from clinical studies of VELDONA® for oral warts in HIV patients. Additionally, Ainos is co-developing a VOC sensing platform with Nisshinbo Micro Devices Inc. and Taiwan Inabata Sangyo Co., aiming for a prototype in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 9:25 pm

TCNNF

The article highlights the achievements of 22 influential women in the cannabis industry, emphasizing their leadership, innovation, and contributions. It mentions their participation in the upcoming Benzinga Cannabis Capital Conference in Florida, April 2024. Key figures include Kim Rivers of Trulieve, who has led the company's growth through strategic mergers and acquisitions, and Nancy Whiteman of Wana Brands, recognized for her leadership and the brand's expansion under Canopy Growth Corp. The conference aims to celebrate these women's achievements and offer networking opportunities for cannabis entrepreneurs.

Portfolio Pulse from Abbey Higginbotham

March 08, 2024 | 9:25 pm

AAPL

JPM

MSFT

NFLX

NVDA

NYCB

The U.S. stock market reached record highs, influenced by Federal Reserve Chair Jerome Powell's hints at potential rate cuts. Nvidia's market cap hit $1 trillion rapidly, highlighting its growth in AI and semiconductors. New York Community Bancorp secured a $1-billion equity investment, causing dilution for current shareholders. Microsoft faced a security breach by Russian hackers. JPMorgan's AI tool significantly improved banking efficiency. Apple invested $1 billion in filmmaking to boost its streaming service, and Netflix ventured into live sports with a high-profile boxing match.

Portfolio Pulse from Piero Cingari

March 08, 2024 | 9:19 pm