Streetbeat News

Products Services

TSLA

Tesla Inc's Chief Designer Franz von Holzhausen had an exchange with the Cybertruck account on X, featuring a black-wrapped Cybertruck photo from Tesla's Q4 earnings report. The Cybertruck's design is considered futuristic, and Tesla's Supply Chain VP Karn Budhiraj noted strong conversion of reservations to orders, with potential to sell out all builds in 2024. Elon Musk aims to deliver 250,000 Cybertrucks in North America.

Portfolio Pulse from Anan Ashraf

January 26, 2024 | 4:40 am

AAPL

JPM

JP Morgan Chase & Co. believes that Apple Inc.'s revenue will not be significantly impacted by the EU's new Digital Markets Act, despite Apple reducing its App Store commission and introducing a new fee. The EU accounts for only 6% of Apple's App Store revenue, and the new fifty-cent fee is expected to offset the commission cut. These changes are part of Apple's compliance with EU competition law and will take effect with the release of iOS 17.4.

Portfolio Pulse from Ananya Gairola

January 26, 2024 | 3:42 am

TSLA

Elon Musk clarified his previous comments about the Dojo supercomputer's success odds, comparing them to the initial low success expectations he had for Tesla and SpaceX. During Tesla's Q4 earnings call, Musk described Dojo as a 'long shot' with high risk and high potential payoff, noting that Tesla is scaling the project and planning future versions.

Portfolio Pulse from Anan Ashraf

January 26, 2024 | 3:29 am

VNDA

Vanda Pharmaceuticals Inc. (VNDA) announced that the U.S. Patent and Trademark Office has issued a notice of allowance for a patent application related to PONVORY®, a treatment for multiple sclerosis. The patent covers methods for reducing clinical management events and reinitiating treatment after missed doses, with an anticipated expiration date of October 10, 2042. Vanda plans to list the patent in the FDA's Orange Book. Vanda acquired the rights to PONVORY® in the U.S. and Canada from Actelion Pharmaceuticals Ltd., a subsidiary of Johnson & Johnson.

Portfolio Pulse from Benzinga Newsdesk

January 26, 2024 | 3:17 am

AAPL

GOOG

NFLX

SPOT

Netflix Inc.'s co-CEO Greg Peters expressed skepticism about the market relevance of Apple Inc.'s Vision Pro, citing the market size as too small for Netflix to invest in developing an app. Despite ongoing discussions with Apple, Peters sees the device as not currently relevant to most Netflix members. Alphabet Inc.'s YouTube and Spotify Inc. have also decided against launching apps for the device. Meanwhile, Apple Vision Pro's sales have exceeded expectations, with analysts at Wedbush upgrading their 2024 sales predictions after a strong pre-order performance.

Portfolio Pulse from Ananya Gairola

January 26, 2024 | 3:11 am

GOEV

Canoo Inc. (NASDAQ:GOEV) has announced a deal with the U.S. Postal Service (USPS) to supply six electric vehicles as part of USPS's $40 billion investment strategy. The vehicles, Canoo's Lifestyle Delivery Vehicle 190 (LDV 190), are expected to be delivered in Q1 2024. This purchase aligns with USPS's goal to have 66,000 EVs by 2028, including 45,000 battery-electric Next Generation Delivery Vehicles. USPS's total EV procurement plans include 21,000 vehicles, with 9,250 from Ford Motor Co, depending on market and operational factors.

Portfolio Pulse from Anan Ashraf

January 26, 2024 | 2:46 am

STLA

Italian Prime Minister Giorgia Meloni criticized Stellantis NV for considering moving car production to lower-cost countries. Meloni emphasized that cars branded as 'Italian jewels' should be made in Italy. Stellantis has been advising Italian suppliers to look into investments in Morocco, but the Italian government wants Stellantis to produce a million cars in Italy annually. Stellantis reaffirmed its commitment to Italy, citing billions invested in local development. CEO Carlos Tavares highlighted the need for cost-cutting due to the expensive shift to electric vehicles (EVs) and criticized Italy's rigid EV incentives, which he believes have reduced production at the Mirafiori plant.

Portfolio Pulse from Anan Ashraf

January 26, 2024 | 2:40 am

AMD

INTC

NVDA

PCSA

TSLA

U.S. stocks closed higher with Intel, Nvidia, AMD, Processa Pharmaceuticals, and Tesla being the focus of investors. Intel rose 0.94% after reporting a 10% year-over-year revenue increase. Nvidia fell 0.42% but remains a key player in AI. AMD gained 1.14% with raised estimates from UBS. Processa Pharmaceuticals surged 148.78% on successful drug trial results. Tesla dropped 12.13% after missing Q4 revenue and EPS estimates, with analysts expressing concern over its valuation.

Portfolio Pulse from Benzinga Neuro

January 26, 2024 | 2:14 am

INTC

Intel Corporation's Q1 2024 revenue guidance fell short by over $1 billion, surprising analysts. Wedbush's Matt Bryson noted the shortfall was due to excess inventory from Q4 overshipping, leading to a backlog. Despite this, Bryson expects a recovery towards the end of 2024. Intel's Q4 revenue was $15.4 billion, beating estimates, but Q1 guidance of $12.2-$13.2 billion is below the expected $14.2 billion. BofA's Vivek Arya predicted the miss, citing multiple headwinds. Intel is also a partner in the NAIRR pilot initiative.

Portfolio Pulse from Benzinga Neuro

January 26, 2024 | 2:07 am

LLY

TSLA

Tesla Inc. (TSLA) experienced a 12% drop in stock price after a Q4 revenue miss, causing its market cap to fall below that of Eli Lilly (LLY). Eli Lilly's market value increased due to the success of its weight-loss drugs, with shares up 59% for the year. Tesla's earnings report was criticized, and its growth forecasts are weak, while Eli Lilly receives bullish forecasts from analysts, including a potential 140% stock increase by 2028 as predicted by Goldman Sachs.

Portfolio Pulse from Benzinga Neuro

January 26, 2024 | 12:58 am