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TSLA

Auto parts giant Forvia SE is restructuring its workforce, planning to cut up to 10,000 jobs to save around €500 million annually by 2028. This move is in response to the shift towards electric vehicles (EVs), influenced by EU policies, declining European car sales, and competition from Chinese EV manufacturers. Forvia reported a 10.9% year-over-year increase in 2023 sales, reaching €27.25 billion. The company aims to improve profitability in Europe and reduce reliance on the Chinese market, amidst the automotive industry's challenges in transitioning to EVs. Notably, BYD Co Ltd has overtaken Tesla Inc as the leading global EV seller.

Portfolio Pulse from Vandana Singh

February 20, 2024 | 5:00 pm

GLSI

HC Wainwright & Co. has maintained its Buy rating for Greenwich LifeSciences (NASDAQ:GLSI) but lowered its price target from $38.00 to $36.00. Shares of GLSI have risen 4.98% in the last 24 hours to $11.80. The new price target suggests a potential increase of 205.08% from the current price. Greenwich LifeSciences is a clinical-stage biopharmaceutical company developing immunotherapies for breast cancer recurrences.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 5:00 pm

HSY

At the Cagny Conference, a Hershey Co executive discussed cocoa prices, stating the company remains committed to adjusting pricing to cover inflation.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 4:58 pm

PINS

Pinterest is launching its first streaming show, 'Deliciously Entertaining,' in partnership with Tastemade. The cooking and lifestyle series aims to increase user engagement on Pinterest by featuring shoppable Pins linked to each episode's recipes and DIY tutorials. The show, premiering on Tastemade's streaming channel and apps, will not generate direct sales revenue for Pinterest but is expected to boost platform activity.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 4:51 pm

BTCUSD

ETHUSD

Michaël van de Poppe predicts Bitcoin's (BTC) price may see limited upside to $54,000-$58,000 before a correction and a rotation towards altcoins, including DeFi. He draws parallels to past cycles, remains bullish on Bitcoin's long-term potential, and sees strong performance for Ethereum (ETH) against Bitcoin.

Portfolio Pulse from Murtuza Merchant

February 20, 2024 | 4:41 pm

SBGI

Sinclair Broadcast Group (NASDAQ:SBGI) has announced a new distribution agreement with TEGNA to expand the reach of its multicast network, The Nest, to 79% of US OTA TV households, making it available in 44 of the top-50 markets. This expansion includes 35 additional channels in major markets. Additionally, Sinclair's Comet network will be upgraded on TEGNA's KHOU TV in Houston. The Nest, launched in Oct '23, offers a variety of programming and is part of Sinclair's growing portfolio of multicast networks, which have seen significant year-over-year growth.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 4:40 pm

NEXI

NexImmune announced that it has received a decision to grant European Patent Number EP3970748, titled 'Nanoparticle Compositions and Methods for Immunotherapy'. This patent strengthens NexImmune's position in the field of immunotherapy by protecting its innovative nanoparticle technology in Europe.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 4:38 pm

ETHUSD

STRKUSD

Starknet's token distribution saw 5 million STRK tokens claimed in the first five minutes, marking a significant event in the crypto market. Over 1.2 million wallets are eligible for the distribution of 700 million tokens, with no lockups, aiming to reward contributors to the Starknet ecosystem. Ethereum stakers also receive allocations. The STRK token showed early volatility, trading between $1.80 and $5, and is currently around $3.50. The distribution window is open until June 20.

Portfolio Pulse from Murtuza Merchant

February 20, 2024 | 4:36 pm

LUNR

Intuitive Machines shares are trading higher following updates from the company's IM-1 mission, indicating positive progress or developments.

Portfolio Pulse from Benzinga Newsdesk

February 20, 2024 | 4:35 pm

PEP

Benzinga's options scanner revealed significant activity in PepsiCo (NASDAQ:PEP) options, with a mix of bullish and bearish sentiments among big-money traders. The observed options trades suggest a target price range of $170.0 to $175.0 for PEP. The company, a global leader in snacks and beverages, is currently trading at $167.74, with a neutral RSI and an anticipated earnings release in 63 days. Analyst ratings in the last month have been generally optimistic, with an average target price of $188.25.

Portfolio Pulse from Benzinga Insights

February 20, 2024 | 4:30 pm