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Revenues

RIVN

VWAGY

Rivian Automotive, Inc. (NASDAQ:RIVN) is set to open at a 4-month high following the announcement of a joint venture with Volkswagen AG’s U.S. subsidiary. Volkswagen will invest $1 billion initially, with up to $4 billion in additional planned investment. Rivian will also raise $1 billion in debt financing through convertible promissory notes. The stock rose 36.71% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

June 26, 2024 | 10:25 am

CVNA

Carvana has announced the expansion of its same-day vehicle delivery service to select residents in the Greater Richmond, Virginia area.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 10:02 am

NYC

American Strategic Investment Co. has agreed to a term sheet to sell its 9 Times Square Midtown Manhattan property for $63.5 million.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 10:01 am

IYE

XLE

XOM

Guyana's Ministry of Natural Resources has selected Fulcrum LNG, led by a former Exxon Mobil executive, to partner with Exxon on a new natural gas project. Fulcrum LNG was chosen for its comprehensive proposal among 17 bidders. Preliminary discussions are underway.

Portfolio Pulse from Lekha Gupta

June 26, 2024 | 9:35 am

CMCSA

IYZ

VOX

Comcast's Universal division is considering a new theme park in the U.K., potentially creating 28,000 jobs and generating £35.1 billion ($44.5 billion) in economic impact. The decision will be made later this year, with a possible 2030 opening. Comcast's Q1 revenue beat estimates, but the stock has declined over the past year.

Portfolio Pulse from Shivani Kumaresan

June 26, 2024 | 9:24 am

ENTG

Entegris (NASDAQ:ENTG) has signed a Preliminary Memorandum of Terms with the U.S. Department of Commerce for up to $75 million in funding under the CHIPS and Science Act. This funding will support a new manufacturing facility in Colorado Springs, creating 600 jobs and bolstering the U.S. semiconductor manufacturing infrastructure.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 9:08 am

FDX

GIS

PAYX

TGLS

Key stocks to watch on Wednesday include General Mills, FedEx, Micron Technology, Tecnoglass, and Paychex. General Mills is expected to report earnings, FedEx reported strong Q4 results and announced a share buyback, Micron Technology is set to release earnings, Tecnoglass is reviewing strategic alternatives, and Paychex is expected to report earnings.

Portfolio Pulse from Avi Kapoor

June 26, 2024 | 8:27 am

INTC

MSFT

NVDA

Groq, a rival of Nvidia, is set to double its valuation to $2.5 billion with a new funding round led by BlackRock. The AI chip company, founded by former Google executive Jonathan Ross, aims to raise $300 million with the help of Morgan Stanley. This development highlights the growing interest and investment in AI hardware, despite Nvidia's market fluctuations.

Portfolio Pulse from Benzinga Neuro

June 26, 2024 | 8:00 am

LAES

WKEY

WISeKey's subsidiary WISeSat.Space is set to launch new satellites for IoT and climate monitoring, partnering with the Swiss Army and expanding its satellite constellation. The company plans to launch a new generation of satellites in Q4 2024, install a satellite antenna in Switzerland, and develop a European-based neutral satellite constellation. SEALSQ Corp. technology will be integrated into the upgraded satellites.

Portfolio Pulse from Benzinga Newsdesk

June 26, 2024 | 7:02 am

GME

Wall Street veteran Peter Tuchman has warned traders about the risks of trading GameStop Corp. (NYSE:GME) stock, likening it to gambling. He emphasized the speculative nature of the stock, especially for inexperienced traders, and highlighted the company's poor financial performance and reliance on physical stores. Despite the volatility and warnings, GameStop's stock continues to attract significant attention.

Portfolio Pulse from Benzinga Neuro

June 26, 2024 | 6:14 am