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GS

JPM

MS

JPMorgan Chase & Co. (NYSE:JPM) has attracted over $15 billion in assets from wealthy clients for its tax strategy business, aiming to compete with Goldman Sachs (NYSE:GS) and Morgan Stanley (NYSE:MS). The bank has seen a significant increase in the use of separately managed accounts (SMAs) to reduce tax burdens.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 10:01 am

TSLA

Tesla's weekly insurance registrations in China hit 17,400 units for the week ended June 23, marking the highest weekly registrations for the year. This is a 48.7% increase from the previous week. Analyst Gary Black termed the numbers as 'excellent,' noting that the second quarter is still trailing last year's corresponding period by 7.2% year-on-year but is up 14% quarter-on-quarter.

Portfolio Pulse from Anan Ashraf

June 25, 2024 | 9:52 am

GM

GOOGL

TSLA

UBER

Emil Michael, former Uber executive, expressed skepticism about the financial feasibility of robotaxis due to high production costs. He highlighted that the cost of a Waymo vehicle is around $300K, making it financially unviable to replace human drivers soon. RBC Capital Markets reduced Tesla's price target due to lower robotaxi pricing assumptions. Uber remains a top pick for travel stocks, with analysts noting that full autonomous vehicles are still years away. General Motors announced an $850 million investment for its Cruise self-driving unit.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 7:38 am

AMZN

Amazon announces its 10th Prime Day event on July 16-17, offering exclusive deals for Prime members across various categories. The event will feature new deals every 5 minutes and special Invite-only deals. Megan Thee Stallion will promote the event with a new song and merchandise.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 7:13 am

HIVE

HIVE Blockchain Technologies reported a fiscal year revenue of $114.5 million, marking an 8% year-over-year increase. However, the company also reported a net loss of $51.2 million.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 7:13 am

ACIW

ACI Worldwide and RS2 have launched a comprehensive payment solution for Brazil's financial sector, combining their acquiring and issuing capabilities. The platform supports digital transformation, reduces operational costs, and enhances fraud management.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 7:12 am

KW

Kennedy Wilson (NYSE:KW) has acquired Heathrow Estate, a multi-let industrial property in West London, for $111 million. The property, which is 84% leased, offers opportunities for value addition through lease extensions and vacancy leasing. This acquisition expands Kennedy Wilson's global industrial platform to over 12 million square feet, representing $2.1 billion in AUM.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 7:05 am

IGC

IGC Pharma reported a Q4 2024 GAAP EPS of $(0.04) and sales of $295,000, which beat the analyst estimate of $193,000 by 52.85%. This represents a 77.71% increase over the same period last year.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 6:58 am

WD

Walker & Dunlop announced the successful arrangement of $29.6 million in federal low-income housing tax credit (LIHTC) equity for the financing of Canyon Creek East in Lenexa, Kansas.

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 6:50 am

TSLA

Elon Musk reassures Tesla investors of 'exceptional' long-term returns despite a 26% decline in stock value this year. Tesla's performance has impacted Baron Partners Fund, which remains bullish on the company. Tesla faces industry headwinds, competitive pressure, and margin erosion due to price cuts. The company is shifting focus to AI, robotics, and ancillary businesses like full self-driving technology and energy. Cathie Wood’s Ark Invest predicts Tesla stock could reach $2,600 by 2029.

Portfolio Pulse from Shanthi Rexaline

June 25, 2024 | 6:26 am