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DCO

Ducommun shares surged following the company's confirmation of receiving an unsolicited non-binding indication of interest at $60 per share from Albion River LLC.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:11 am

PERI

Perion Network Ltd. (PERI) announced preliminary Q1 2024 financial results and updated its full year 2024 guidance, citing a decline in Search Advertising activity due to changes in Microsoft Bing's advertising pricing and mechanisms. Q1 revenue is expected to be $157M, with full year revenue forecasted between $590M-$610M, a significant decrease from prior estimates. The company attributes the decline mainly to Search Advertising and, to a lesser extent, web video activity. Despite this, Perion's CEO emphasized the company's strong relationship with Microsoft, its diversified digital advertising solutions, and the growth in Display Advertising. Perion also increased its buyback program from $50M to $75M.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 10:05 am

JVSA

JVSPAC Acquisition Corporation (NASDAQ:JVSA) is merging with Hotel101 Global Pte. Ltd., a subsidiary of DoubleDragon Corporation, to go public on NASDAQ under the ticker 'HBNB'. Hotel101, a hotel prop-tech operator, is expected to have an equity value of over $2.3 billion post-merger. The merger, expected to close in the second half of 2024, will mark Hotel101's expansion, including new properties in Madrid, Niseko, and Los Angeles.

Portfolio Pulse from Shivani Kumaresan

April 08, 2024 | 9:58 am

TSLA

CANACCORD Genuity analyst George Gianarikas expressed strong confidence in Tesla, Inc.'s (NASDAQ:TSLA) autonomous vehicle technology, highlighting its potential to revolutionize resource utilization, productivity, and safety. Despite challenges, Gianarikas sees Tesla as a leader in autonomy, using a unique camera-only, neural-network approach. He also mentioned Mobileye and Aurora as key players in the autonomous vehicle market, with Tesla and Mobileye leading in passenger AVs and Aurora in US autonomous trucking. The analyst suggests Tesla's focus on autonomy could significantly enhance its competitive advantage and margins.

Portfolio Pulse from Shanthi Rexaline

April 08, 2024 | 9:56 am

SPY

Treasury Secretary Janet Yellen expressed confidence in a CNBC interview that inflation rates will continue to decrease. This statement is significant as it reflects the government's outlook on the economy and can influence investor sentiment and market trends.

Portfolio Pulse from Charles Gross

April 08, 2024 | 9:26 am

FXI

SPY

Treasury Secretary Yellen stated in a CNBC interview that while China is permitted to sell electric vehicles (EVs) in the US, the administration won't rule out tariffs on China's green exports to foster a domestic industry.

Portfolio Pulse from Charles Gross

April 08, 2024 | 9:18 am

ESPR

LGVN

XXII

Esperion Therapeutics shares rose by 7.1% in pre-market trading after presenting new data from CLEAR outcomes at ACC.24, highlighting the value of NEXLETOL tablets. Other stocks also showed significant movement in pre-market trading, with Longeveron Inc. leading the gainers and 22nd Century Group, Inc. leading the losers.

Portfolio Pulse from Avi Kapoor

April 08, 2024 | 9:15 am

SPY

Cathie Wood of Ark Investment Management expressed concerns over recent U.S. jobs data, highlighting low-quality job gains and a disparity in employment growth between foreign-born and native-born Americans. Economist Marko Bjegovic noted significant revisions in job data and a shift towards part-time employment, while E.J. Antoni pointed out the stagnation in native-born employment. Despite these issues, the SPDR S&P 500 ETF Trust (SPY) saw an increase, reflecting continued market optimism.

Portfolio Pulse from Shanthi Rexaline

April 08, 2024 | 8:23 am

UBS

UBS Group AG's joint venture with SuMi TRUST Wealth Management Co will acquire Credit Suisse's wealth management business in Japan, following UBS's takeover of Credit Suisse in 2023. The deal will transfer all of Credit Suisse's advisors and assets in Japan to UBS SuMi, maintaining the original ownership structure of 51% UBS and 49% SuMi TRUST Holdings. This acquisition is part of UBS's integration of Credit Suisse, alongside a new $2 billion share buyback program set for 2024, following a successful $1 billion buyback after a strong Q4 performance.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 8:09 am

GM

TSLA

Tesla, Inc. (TSLA) experienced a decline in stock price following a Reuters report about potentially scrapping a sub-$30,000 car, which CEO Elon Musk denied. Tesla's Chief Designer, Franz von Holzhausen, suggested staying tuned for developments, hinting the project might still be alive. Amidst this, Musk announced an unveiling date for Tesla's Robotaxi. Analysts are divided on the impact of focusing on Robotaxi over a low-end EV. General Motors Corp. (GM) was mentioned in relation to suspending its robotaxi operations.

Portfolio Pulse from Shanthi Rexaline

April 08, 2024 | 7:45 am