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JPM

JP Morgan CEO commented on the unprecedented scale of quantitative tightening, indicating that its full effects have yet to be fully realized in the market.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 10:54 am

BA

Boeing Co (NYSE:BA) disclosed in a securities filing that an internal review found executives, including CEO David Calhoun, took personal trips on company jets misclassified as business travel, exceeding $500,000. The review, prompted by a Wall Street Journal investigation, led to revised disclosures for 2021 and 2022, aligning with SEC rules. Boeing's board mandates CEO's private jet use for security reasons. The company reported $514,000 in personal flights for Calhoun in 2023, as part of his compensation. BA shares slightly rose by 0.05% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 10:50 am

TSLA

Elon Musk laughed at Jack Dorsey's comment calling Mark Zuckerberg a 'bum simp' in response to a decade-old remark Zuckerberg made about Twitter. This exchange highlights the ongoing rivalry between Musk and Zuckerberg, especially after Musk's acquisition of Twitter, now X, for $44 billion in October 2022. The incident reflects broader tensions in the tech industry, with Meta facing criticism for its advertising system and Musk working to attract advertisers back to X.

Portfolio Pulse from Ananya Gairola

April 12, 2024 | 10:43 am

TSLA

Tesla investor Ross Gerber and critic Gordon Johnson debated the cost benefits of electric vehicles (EVs) versus gas cars. Gerber argued that switching to a Tesla Model 3 could save $4,000 annually on gas, while Johnson countered that EVs face significant depreciation, higher insurance, and maintenance costs. Despite Gerber's optimism about EVs replacing gas cars, Johnson highlighted the financial drawbacks, including battery and tire replacement costs. Tesla's website estimates a three-year gas savings of $3,000 for the Model 3, contrasting with Gerber's claim. Hertz Global Holdings cited depreciation and repair costs for phasing out Tesla vehicles. However, Atlas Public Policy reported that owning an EV could be cheaper than a gas car over seven years.

Portfolio Pulse from Anan Ashraf

April 12, 2024 | 10:19 am

F

Ford Motor Company (NYSE: F) is delivering 144,000 redesigned F-150 and Ranger trucks to North American dealers to address quality issues and has resumed F-150 Lightning electric truck shipments with a price reduction of up to $5,500. This move is part of Ford's strategy to enhance quality assurance and customer satisfaction, aiming for a pre-tax profit between $10 billion and $12 billion in 2024. The delay in truck distribution may affect Ford's Q1 financial results, with 60,000 F-150s pending shipment this quarter. Ford's actions, including a price cut on the Lightning model, reflect efforts to remain competitive in the EV market and avoid past warranty repair costs.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 10:14 am

KMX

CarMax Inc (NYSE:KMX) is marketing a $1.25 billion bond sale following a fourth-quarter earnings miss, with potential to increase to $1.6 billion. The sale is organized by Mitsubishi UFJ Financial Group and comes after CarMax shares dropped due to lower-than-expected profits, attributed to vehicle affordability challenges. This move into the ABS market follows a history of CarMax raising funds through ABS offerings, including a $1.55 billion sale in January.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 9:59 am

TSLA

Gary Black of Future Fund predicts Tesla, Inc. (TSLA) will surpass Q1 earnings expectations, potentially aided by $926 million in full-self-driving deferred revenue. He anticipates flat 2024 delivery growth at 1.8 million units, a figure already priced into the stock. Black hopes CEO Elon Musk won't blame the Q1 volume decline on high interest rates, noting that EV competitors saw 15-20% growth. He suggests Tesla could meet its 2024 delivery estimate by increasing advertising and resolving production issues.

Portfolio Pulse from Shanthi Rexaline

April 12, 2024 | 9:51 am

RR

Richtech Robotics Inc (NASDAQ:RR) is experiencing a surge in stock price after announcing a joint venture with Zipphaus Corp to launch robot-operated cafes in strategic locations such as hospitals and universities. The partnership aims to combine Richtech's robotics technology with Zipphaus's operational expertise to expand development opportunities across the U.S. The initial plan includes opening flagship cafes in major hospitals. Richtech will provide ADAM robots and technical support, while Zipphaus will manage daily operations. RR shares rose by 8.99% to $1.94 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 9:44 am

ALLR

MOTS

NXPL

RENT

NextPlat Corp (NASDAQ:NXPL) shares surged approximately 30% in pre-market trading after announcing a 222% year-over-year increase in consolidated 2023 revenues, reaching $37.8 million. Other stocks also showed significant movement in pre-market trading, with notable gainers including Allarity Therapeutics, PaxMedica, OncoCyte Corporation, and Zapata Computing Holdings, among others. Conversely, several stocks experienced declines, such as Motus GI Holdings, Rent the Runway, and Kazia Therapeutics, driven by various company-specific news and market reactions.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 9:32 am

AAPL

DIS

META

Elon Musk is inviting advertisers to return to X (formerly Twitter), leveraging issues with Meta Platforms Inc.'s (META) advertising system. Musk's outreach follows reports of Meta's ad system causing increased costs and reduced sales for marketers. Musk's efforts to attract advertisers back to X come amid his criticisms of Meta's ad system and past conflicts with major advertisers like Walt Disney Co. and Apple Inc.

Portfolio Pulse from Ananya Gairola

April 12, 2024 | 8:25 am