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RIVN

Rivian Automotive Inc (NASDAQ:RIVN) mistakenly led followers to believe a photo shared on social media was a preview of its upcoming R2 vehicle. The image, actually of the R1T electric truck, sparked speculation and excitement about the R2, which is set to be unveiled in March. Rivian's R2, aiming for a 2026 production start, targets the midsize SUV market with a more compact and affordable option compared to its R1 models.

Portfolio Pulse from Anan Ashraf

February 08, 2024 | 7:08 am

ArcelorMittal projects a positive medium/long-term outlook for steel demand, expecting a growth in World ex-China apparent steel consumption by +3.0% to +4.0% in 2024 compared to 2023. The company anticipates varied demand dynamics across key regions, with growth in the US, Europe, Brazil, and India, but stable to slightly positive demand in China. Capex for 2024 is anticipated to be within the $4.5-$5.0 billion range, with a portion allocated for strategic growth.

Portfolio Pulse from Benzinga Newsdesk

February 08, 2024 | 6:18 am

ARKK

MSFT

NVDA

TSLA

Cathie Wood's Ark Innovation ETF (ARKK) has underperformed compared to the 'Magnificent Seven' tech stocks, which have led the market rebound. ARKK's holdings include Tesla and Microsoft but exited Nvidia in January 2023, considering it overvalued. The Magnificent Seven, including Meta, Apple, Alphabet, Amazon, Nvidia, Microsoft, and Tesla, have shown significant returns, with Nvidia being the top performer due to its AI technology. In contrast, ARKK saw a negative return of 7.80%.

Portfolio Pulse from Shanthi Rexaline

February 08, 2024 | 6:14 am

AAPL

The resale market for Apple Inc.'s Vision Pro mixed-reality headset is booming, with prices reaching up to $5,000 in overseas markets, significantly above the original $3,500 price tag. The device, released in limited U.S. stores in early February, is now being resold at a premium in Japan, China, Singapore, and Hong Kong. Demand remains strong, driven by exclusivity, with analysts noting the device's potential to revolutionize the market and possibly replace tablets in the future.

Portfolio Pulse from Ananya Gairola

February 08, 2024 | 5:14 am

TSLA

Tesla Inc (NASDAQ:TSLA) has made its Model Y Performance SUV eligible for C$5000 in zero-emission vehicle incentives in Canada following a 5.8% price reduction. The price cut brings the vehicle's starting price below the C$70,000 threshold required for the incentive, now starting at C$64,990 after incentives. This adjustment makes all three versions of the Model Y eligible for EV incentives in Canada, aligning with the U.S. where all trims qualify for a federal EV tax credit of $7,500. Tesla's Model 3 rear-wheel drive and Long-range versions are also eligible for C$5000 in Canada.

Portfolio Pulse from Anan Ashraf

February 08, 2024 | 4:30 am

DIS

NFLX

Disney CEO Robert Iger announced a significant growth in ad-supported Disney+ subscriptions, with about 2 million new subscriptions in Q4, reaching a total of 5.2 million. Over half of the new U.S. subscribers chose the ad-supported option, which also saw a 34% increase in service usage over six months. This growth highlights Disney's strong position in the streaming industry, especially with its advanced advertiser technology. Meanwhile, Netflix reported a 12.8% year-over-year increase in global paid members, with 260.28 million by the end of Q4 and a 13.12 million net paid subscriber addition during the quarter. Netflix continues to invest in its ad-supported platform but does not see it as a primary revenue driver.

Portfolio Pulse from Ananya Gairola

February 08, 2024 | 4:00 am

TSLA

Cathie Wood, CEO of Ark Invest, remains bullish on Tesla Inc (NASDAQ:TSLA) despite a recent 25% stock downturn, attributing the slump to a cyclical low. She anticipates a significant turnaround within the next two years, driven by Tesla's introduction of autonomous taxi networks. Wood's confidence is underscored by Ark Invest's recent purchases of Tesla shares, totaling over $14 million despite market fluctuations. She projects Tesla could reach a $2,000 share price within five years, implying a market capitalization exceeding $5 trillion, largely due to the growth of the electric vehicle market and the revolutionary impact of robotaxis.

Portfolio Pulse from Benzinga Neuro

February 08, 2024 | 3:50 am

ARM

BABA

DIS

HOLO

PYPL

U.S. stocks saw gains with PayPal, Arm Holdings, MicroCloud Hologram, Alibaba, and Disney being key focuses. PayPal reported a revenue increase and higher payment volumes, despite a stock dip. Arm Holdings' earnings beat estimates with strong demand for CPUs. MicroCloud Hologram's stock soared after announcing its industry association joining. Alibaba's revenue growth missed estimates but increased its share buyback program. Disney invested in Epic Games, aiming for growth across segments.

Portfolio Pulse from Benzinga Neuro

February 08, 2024 | 2:21 am

AAPL

CMG

LLY

Jim Cramer, host of CNBC's 'Mad Money,' expressed skepticism about the recent unusual market movements of Apple Inc (AAPL), Chipotle Mexican Grill, Inc. (CMG), and Eli Lilly And Co (LLY), attributing them to 'authentic stupidity' during earnings season. He highlighted Apple's Vision Pro launch, Chipotle's unexpected traffic increase, and Eli Lilly's promising drug for liver ailments as key points of confusion.

Portfolio Pulse from Benzinga Neuro

February 08, 2024 | 2:05 am

DKNG

PARA

A Reddit user known for incorrectly predicting the Super Bowl winner for 16 years has chosen the Kansas City Chiefs for Super Bowl LVIII. The game will be broadcasted by Paramount Global and features betting odds from DraftKings. An Electronic Arts' Madden 24 simulation also predicted a Chiefs win, aligning with the user's prediction.

Portfolio Pulse from Chris Katje

February 08, 2024 | 12:04 am