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FSR

NKLA

RMO

TSLA

VLTA

A Wall Street Journal analysis predicts that 18 EV and battery startups, including Nikola Corp. (NKLA) and Fisker Inc. (FSR), may run out of cash by the end of 2024. These companies have seen over 80% declines in their stock prices since their market debuts. Lordstown Motors, Proterra, and Electric Last Mile Solutions have filed for bankruptcy, while Romeo Power (RMO) and Volta (VLTA) were sold at lower valuations. Tesla Inc. (TSLA) is increasing pressure on these startups with price reductions.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 9:51 am

LOW

Stifel analyst W. Andrew Carter has downgraded Lowe's Companies (NYSE:LOW) from Buy to Hold while increasing the price target from $235 to $240.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:39 am

MGNX

Citigroup analyst Yigal Nochomovitz has upgraded Macrogenics (NASDAQ:MGNX) from Neutral to Buy and increased the price target from $7 to $13.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 9:20 am

TSLA

Gary Black, co-founder of Future Fund, anticipates changes to Tesla's U.S. price matrix for Model Y and Model 3 vehicles in response to the removal of EV credits. He predicts price increases for Model Y and decreases for Model 3 to maintain revenue neutrality and align with Tesla's historical pricing strategy. This comes as Tesla faces challenges with EV adoption due to economic conditions and consumer perceptions of high costs. Tesla's stock price has been affected by previous price cuts impacting margins.

Portfolio Pulse from Shanthi Rexaline

December 20, 2023 | 9:08 am

HIMX

Himax Technologies is set to unveil its new generation WiseEye AI processor, WE2, at CES 2024. This announcement could indicate the company's continued innovation and commitment to the AI sector, potentially impacting its market position and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 8:41 am

LNVGY

Lenovo Group Ltd.'s (OTC:LNVGY) stock has surged over 30% since mid-October and 60% this year, driven by a global recovery in PC demand and excitement over AI products. The company's performance is its strongest since 2009, with optimism for continued growth into 2024. Lenovo's focus on commercial models and AI technology, including its first AI server project, has garnered positive views from analysts at Goldman Sachs and support from investors. Edmond de Rothschild Asset Management suggests the rally could persist if Lenovo meets its guidance and the market favors its AI PC applications.

Portfolio Pulse from kaustubh@benzinga.com

December 20, 2023 | 8:31 am

TSLA

Giorgetto Giugiaro, the designer of the DMC DeLorean, praised Tesla's Cybertruck, calling it the 'Picasso of automobiles' for its unique design, which he believes will be successful. In contrast, designer Frank Stephenson criticized the Cybertruck as 'almost repulsive.' Tesla has started Cybertruck deliveries as of November, four years after its unveiling. The Cybertruck's design was influenced by Elon Musk's desire for a non-traditional truck, drawing inspiration from 'Blade Runner' and 'The Spy Who Loved Me.'

Portfolio Pulse from Anan Ashraf

December 20, 2023 | 8:14 am

AAPL

BBY

TGT

WMT

Apple Inc. (AAPL) has instructed its customer service representatives not to direct customers to other retailers for purchasing Apple Watch Series 9 and Ultra 2 due to a patent infringement ruling by the ITC involving Masimo Corp. Despite the ruling, retailers like Walmart (WMT), Best Buy (BBY), and Target (TGT) can still sell the watches. Apple must halt sales by Christmas unless there is intervention from President Biden. JPMorgan analysts believe the financial impact on Apple may not be severe, and Masimo's CEO is open to settling the dispute.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 7:53 am

AFRM

AVGO

NET

Jim Cramer, the CNBC host, has advised investors to take profits in stocks that have seen significant gains during the current bull market. He emphasized the importance of securing gains by selling a portion of shares in companies that have experienced a recent surge in stock prices. Cramer used Broadcom (NASDAQ:AVGO) and Affirm (NASDAQ:AFRM) as examples, noting AVGO's 20% increase and AFRM's 15% rise on Tuesday and over 400% for the year. He also mentioned Cloudflare, Inc. (NYSE:NET), advising investors to wait for a pullback after its 87% year-to-date surge.

Portfolio Pulse from Benzinga Neuro

December 20, 2023 | 7:36 am

JAQC

Jupiter Acquisition has mutually agreed to terminate its merger with Filament Health Corp. The special stockholders meeting set for December 28, 2023, is canceled. Jupiter will redeem all outstanding Class A common stock from its IPO effective December 26, 2023, as it cannot complete a business combination within the timeframe specified in its Charter.

Portfolio Pulse from Benzinga Newsdesk

December 20, 2023 | 7:29 am