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GM

HMC

HYMTF

TM

General Motors (NYSE:GM) dealers are urging the company to consider hybrid models due to customer hesitancy towards fully electric vehicles (EVs). Dealers are concerned about losing customers to competitors like Toyota (NYSE:TM), Honda (NYSE:HMC), and Hyundai (OTC:HYMTF), who offer hybrids. GM's CEO Mary Barra has not ruled out hybrids but remains committed to EVs. The article suggests that GM's EV focus could challenge dealers, especially with industry trends showing increased hybrid sales. GM shares are up 7.69% in premarket trading.

Portfolio Pulse from Vandana Singh

January 30, 2024 | 12:31 pm

TSLA

VWAGY

Volkswagen AG (OTC:VWAGY) has postponed the sale of a stake in its battery unit, PowerCo, and its IPO due to a slowdown in the EV market. The company's preference shares fell by 1% after the news. VW is reevaluating its long-term funding plans for PowerCo, which was established to compete with Tesla Inc. (NASDAQ:TSLA) in the EV sector. Despite the delay, VW aims to be ready for investors from 2024. The EV market's slowdown is evident with VW-backed JAC's Yiwei EV, the first to use a sodium-ion battery, set to deliver in 2024, and QuantumScape Corp.'s shares, which VW is partnering with for solid-state batteries, pulling back after initial gains.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 12:19 pm

AEHR

CALX

GDS

The article discusses three oversold tech stocks with RSI values below 30, suggesting they may be undervalued: Calix, Inc. (CALX), GDS Holdings Limited (GDS), and Aehr Test Systems (AEHR). Calix's stock fell after issuing lower than expected guidance, GDS Holdings reported revenue growth but missed consensus, and Aehr Test Systems lowered its full-year revenue guidance due to a slowdown in the electric vehicle market.

Portfolio Pulse from Avi Kapoor

January 30, 2024 | 12:10 pm

BMY

TSVT

2seventy bio, in partnership with Bristol Myers Squibb, is implementing measures to ensure the commercial growth of Abecma in 2024. The companies are focused on strategies to increase the market presence and sales of Abecma, a therapy option.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:09 pm

MBUU

Malibu Boats, Inc. reported that Q2 is historically their slowest period, affected by weak retail demand. However, the company has observed positive signs following a year-end sales event, indicating brand resiliency.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:09 pm

BBIO

NVTA

Invitae (NYSE:NVTA) has announced a partnership with BridgeBio Pharma (NASDAQ:BBIO) to advance genetics-based drug discovery for rare diseases. The collaboration aims to generate insights on genetic modifiers and discover new therapeutic targets for rare diseases and other unmet medical needs.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:08 pm

TSVT

2seventy bio has announced a new strategic direction, which will concentrate solely on the commercialization and development of Abecma, its cell therapy for multiple myeloma. The company is streamlining its focus to enhance its position in the cell therapy market and potentially improve its financial performance.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:04 pm

NB

NioCorp Developments Ltd. has partnered with Brunel University London to develop new aluminum-scandium alloys for the automotive industry. These alloys aim to reduce vehicle weight, enhance recyclability, and cut manufacturing costs while improving strength, ductility, weldability, and corrosion resistance of aluminum components.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:04 pm

CANF

Can-Fite BioPharma Ltd. has expanded its out-licensing agreement with Ewopharma AG to include the pancreatic cancer indication of its proprietary small molecule drugs. This expansion could potentially enhance the value of Can-Fite's oncology pipeline by addressing a new therapeutic area.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:03 pm

BMY

Bristol Myers Squibb (NYSE:BMY) announced the FDA's acceptance of two sBLAs for Breyanzi to treat relapsed or refractory FL and MCL, granting Priority Review with PDUFA goal dates in May 2024. Japan's MHLW also accepted an sNDA for Breyanzi for relapsed or refractory FL.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 12:00 pm