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RIVN

TSLA

Rivian Automotive Inc. (NASDAQ:RIVN) has opened a new 'space' in Austin, Texas, close to Tesla's gigafactory. This move is part of Rivian's strategy to compete with Tesla in the electric vehicle market. Rivian's new space will showcase its lineup, including the R1S SUV and R1T pickup truck, which compete with Tesla's Model X and Cybertruck, respectively. Rivian aims to reach positive gross profit by the end of 2024 despite current financial losses.

Portfolio Pulse from Anan Ashraf

June 14, 2024 | 9:25 am

TSLA

Tesla CEO Elon Musk announced ambitious plans for the Optimus humanoid robot, predicting a significant market share and potential $25 trillion market cap. Tesla aims to start limited production by early next year and deploy thousands of bots in its factories by 2025. Musk's optimistic projections include selling each bot for $10,000 to $20,000.

Portfolio Pulse from Anan Ashraf

June 14, 2024 | 8:40 am

BEAM

Beam Therapeutics Inc. (NASDAQ:BEAM) has reported data on its improved manufacturing process for BEAM-101, a base editing treatment for sickle cell disease, at the European Hematology Association Hybrid Congress. The optimized process is used in the BEACON Phase 1/2 clinical trial.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 8:25 am

GILD

Gilead's Kite presented new data at EHA 2024 on the outpatient administration of Yescarta and Tecartus. The analysis shows that manufacturing Yescarta for second-line treatment of relapsed/refractory large B-cell lymphoma can reduce the time from leukapheresis to infusion compared to third-line+ treatment. The data builds on previous evidence linking timely infusion to better patient outcomes and supports the safety and feasibility of outpatient administration.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 7:39 am

WEST

Westrock Coffee has announced the opening of the largest roast-to-ready-to-drink manufacturing facility in Conway, Arkansas. This new facility is expected to enhance the company's production capabilities and meet growing consumer demand.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 7:09 am

QXO

QXO has secured $3.5 billion in a private placement, selling 340,932,212 shares at $9.14 per share and 42,000,000 pre-funded warrants at $9.13999 per warrant. The placement has received shareholder approval and is expected to close early in Q3 2024.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 6:57 am

RNA

Avidity Biosciences has announced a public offering of 10.55 million common shares at $38 per share, expected to raise $400.9 million in gross proceeds. The offering is anticipated to close around June 17, 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 6:38 am

BBJP

DXJ

EWJ

Japan's industrial production for April decreased by 0.9% month-over-month, which is significantly worse than the estimated decline of 0.1% and the previous month's increase of 4.4%.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 4:35 am

HITI

High Tide Inc. (NASDAQ:HITI) reported strong financial performance in Q2 2024, with $9.4 million in free cash flow and a net income of $0.2 million. Revenue increased by 5% to $124.3 million, and adjusted EBITDA grew by 52% year-over-year. The company plans to expand its cannabis footprint by opening 20-30 new stores by year-end, supported by a strong cash position of $34.5 million.

Portfolio Pulse from Nicolás Jose Rodriguez

June 14, 2024 | 3:35 am

BA

LMT

TSLA

The Pentagon has awarded contracts under its $5.6 billion National Security Space Launch (NSSL) program to Blue Origin, SpaceX, and United Launch Alliance (ULA), a joint venture of Lockheed Martin and Boeing. These companies will compete for contracts until mid-2029 under NSSL Phase 3 Lane 1.

Portfolio Pulse from Benzinga Neuro

June 14, 2024 | 1:59 am