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EIPX

HJEN

BP p.l.c. (NYSE:BP) shares are trading higher premarket after reports emerged that Abu Dhabi National Oil Company (ADNOC) considered buying the company, although discussions did not progress beyond preliminary stages. ADNOC ultimately decided BP wasn't the right fit for its strategy, citing political considerations and BP's underperformance compared to competitors. Despite this, BP's direct talks with ADNOC and consultations with investment banks on a potential deal were noted. Additionally, BP expects higher upstream production in Q1 2024. Investors can also gain exposure to BP through Direxion Hydrogen ETF (NYSE:HJEN) and First Trust Energy Income Partners Strategy ETF (NYSE:EIPX).

Portfolio Pulse from Lekha Gupta

April 12, 2024 | 11:42 am

NXPL

NextPlat Corp (NXPL) shares surged following the announcement of a year-over-year increase in its FY23 consolidated revenue results, indicating strong financial performance.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:39 am

NIO

Jim Cramer advised selling shares of NIO Inc. (NYSE:NIO), citing a 47% loss in stock value since the start of the year. Despite a partnership aimed at extending battery lifespan, NIO's market share continues to shrink, and its stock closed near a 52-week low. However, some investors have shown bullish behavior through options trading.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 11:38 am

TSLA

Tesla has launched a rear-wheel drive (RWD) version of the Model Y Long Range in Europe, offering a lower price and longer range compared to the all-wheel drive (AWD) variant. The RWD version, available in several European countries, boasts a range of 600 km with 19-inch Gemini wheels and a top speed of 217 km/h, surpassing the AWD's 533 km range. Despite the RWD's efficiency, the AWD variant is faster. This move could enhance Tesla's competitiveness in Europe, where the Model Y is already its best-selling vehicle.

Portfolio Pulse from Anan Ashraf

April 12, 2024 | 11:38 am

ACES

QCLN

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares are trading lower in the premarket session on Friday, having lost over 30% in the past year. Investors can gain exposure to RIVN through ALPS Clean Energy ETF (NYSE:ACES) and First Trust NASDAQ Clean Edge Green Energy Index Fund (NASDAQ:QCLN). Rivian is expected to report Q1 financial results with losses of $(1.15) per share and revenue of $1.153 billion. The company's production facility adjustments aim to cut material expenses, impacting its yearly production capacity. Rivian targets 57,000 vehicle productions in 2024, focusing on cost efficiency and forecasting an adjusted EBITDA loss of $(2.7) billion.

Portfolio Pulse from Nabaparna Bhattacharya

April 12, 2024 | 11:36 am

STT

State Street's shares experienced an increase following the announcement of their first-quarter financial results, which surpassed expectations.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:36 am

STT

State Street Corporation (NYSE:STT) reported Q1 2024 adjusted earnings per share (EPS) of $1.69, surpassing the analyst consensus estimate of $1.50. Total revenue for the quarter was $3.138 billion, exceeding the consensus estimate of $3.061 billion and marking a 1.19% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:34 am

AMD

BLK

INTC

JPM

QQQ

SPY

WFC

Wall Street is poised for a pullback as stock futures decline, with JPMorgan tumbling 3% and gold surging past $2,400. The shift to cautiousness follows a relief rally sparked by the producer price index report. Big bank earnings have been disappointing, affecting market sentiment. The SPDR S&P 500 ETF Trust and Invesco QQQ ETF saw premarket declines. Analysts predict a potential momentum pickup in stocks post-April 15, despite current market pullbacks. Upcoming economic data and Fed officials' speeches are highly anticipated. Globe Life Inc. rebounds in premarket trading, while Intel and AMD face challenges from China's move against U.S.-made chips. BlackRock rises after an earnings beat, but Wells Fargo also sees a decline.

Portfolio Pulse from Shanthi Rexaline

April 12, 2024 | 11:27 am

CPNG

Coupang, identified by its ticker symbol CPNG, has announced an increase in its membership fees. This decision has been made public premarket, leading to a rise in Coupang's shares. Industry officials have commented on the fee hike, suggesting it may not be considered excessive.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:25 am

ANET

Arista Networks' stock (ANET) trades lower following a downgrade from Buy to Sell by Rosenblatt.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 11:23 am