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TSLA

Tesla Inc (NASDAQ:TSLA) has reduced the prices of its Model Y SUV in Canada by up to 6.9%, aligning its cost with that of the Model 3 sedan. The price cut affects the rear-wheel drive and long-range versions of the Model Y, with reductions of C$4000 (about $2,990). Despite this adjustment, the price of the Model Y Performance remains unchanged. This strategic pricing move comes as the Model Y achieved the status of the world's best-selling vehicle model in 2023, marking a significant milestone as the first EV to achieve this.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 8:56 am

META

During Meta Platforms Inc.'s (NASDAQ:META) Q4 2023 earnings call, CEO Mark Zuckerberg expressed confidence in Threads, despite its early popularity waning. He highlighted Meta's culture of experimentation and rapid learning, noting Threads now has more active users than at its launch peak. Zuckerberg also discussed Meta's focus on AI and the metaverse, mentioning upcoming broader rollouts of Meta AI, AI Studio, Business AIs, and Ray-Ban Meta smart glasses.

Portfolio Pulse from Ananya Gairola

February 02, 2024 | 8:48 am

HCM

HUTCHMED (China) Limited announced that Inmagene Biopharmaceuticals has exercised options to license two drug candidates, IMG-007 and IMG-004, as part of their strategic partnership. HUTCHMED will receive approximately 7.5% of Inmagene's fully diluted shares in return for granting an exclusive license to Inmagene for the development, manufacturing, and commercialization of these candidates worldwide.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 8:35 am

TRUE

TrueCar has introduced marketing and wholesale solutions aimed at enhancing dealership reach and revenue. The company offers purchase-ready customers to dealerships via broad and targeted marketing strategies. At the NADA event, attendees have a chance to win $100K in free marketing spend and services from TrueCar Marketing Solutions. Additionally, TrueCar Wholesale Solutions has launched its first auction platform 'Exchange,' in collaboration with Turn Automotive.

Portfolio Pulse from Benzinga Newsdesk

February 02, 2024 | 6:54 am

BYDDF

BYDDY

BYD Co Ltd reported a 33.1% YoY growth in January sales, selling 201,493 new energy vehicles, including 36,174 units overseas. The company, backed by Warren Buffett's Berkshire Hathaway, has shifted entirely to producing new energy vehicles since April 2022. In Q4 2023, BYD surpassed Tesla as the biggest BEV seller. The company expects a net profit increase of at least 74.5% for FY 2023.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 6:18 am

AAPL

Apple Inc. (NASDAQ:AAPL) CEO Tim Cook announced record-breaking sales for the iPhone 15, outperforming its predecessor, the iPhone 14, despite a global smartphone market slump. The iPhone 15's success is attributed to a 6% sales increase, particularly in Europe, Asia-Pacific, and emerging markets. The device has achieved a 99% customer satisfaction rate and has set a new global record for upgraders, contributing to an all-time high in Apple's installed base. This performance has helped Apple break a four-quarter streak of declining revenue, with the iPhone 15 playing a significant role in the company's rebound.

Portfolio Pulse from Ananya Gairola

February 02, 2024 | 5:58 am

GM

General Motors Co (NYSE:GM) CEO Mary Barra announced the company has 100,000 reservations for its electric pickups, signaling strong interest. GM plans to produce 200,000 to 300,000 Ultium-based EVs in North America by 2024, depending on demand. The company aims to be variable profit positive in the U.S. EV sector in the second half of the year, attributing this to strong interest and lower commodity prices. Despite concerns over slowing EV growth, GM remains committed to phasing out combustion engine light-duty vehicle sales by 2035, adjusting production based on demand.

Portfolio Pulse from Anan Ashraf

February 02, 2024 | 5:11 am

META

During Meta Platforms Inc.'s Q4 2023 earnings call, CEO Mark Zuckerberg announced the company's goal to develop the most popular and advanced AI products and services. He emphasized the creation of world-class AI assistants for users, AI tools for creators, businesses, and developers, and the need for new computing devices like smart glasses. Zuckerberg highlighted Meta's long-term commitment to general intelligence research and the expansion of GPU clusters to support AI services. Meta reported a Q4 revenue of $40.11 billion, a 25% increase year-over-year, surpassing expectations. The company anticipates Q1 revenue between $34.5 billion and $37.0 billion and expects growing infrastructure investments for AI research and development.

Portfolio Pulse from Ananya Gairola

February 02, 2024 | 4:23 am

AAPL

Apple Inc.'s CEO, Tim Cook, defended the high price of the upcoming Vision Pro mixed-reality headset during the company's Q1 2024 earnings call, highlighting the significant technology and innovation, including 5,000 patents, integrated into the product. Despite concerns over its $3,499 price, the Vision Pro has seen strong interest, with 160,000 to 180,000 units sold during the first pre-order weekend. Netflix's co-CEO Greg Peters expressed skepticism about the device's market impact, deciding against launching apps for it.

Portfolio Pulse from Ananya Gairola

February 02, 2024 | 2:50 am

AAPL

MASI

Apple Inc. (AAPL) CEO Tim Cook announced the company's intention to appeal the ban on its Apple Watch, rather than settle with Masimo Corp. (MASI) over a patent dispute involving the blood oxygen feature. Despite the ban, Apple continues to sell the Apple Watch Series 9 and Ultra 2 in the U.S. without the disputed feature. The company reported higher than expected revenue in its Wearables, Home, and Accessories category for fiscal Q1 2024, indicating that the dispute and ban have not significantly impacted sales. Masimo's CEO Joe Kiani expressed openness to a settlement but noted the lack of serious discussions with Apple.

Portfolio Pulse from Ananya Gairola

February 02, 2024 | 1:38 am