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AVTR

Avantor Inc (NYSE:AVTR) announced a new operating model and a multi-year cost optimization initiative at its investor day, aiming to transition from three geographic segments to two business segments: Laboratory Solutions and Bioscience Production. The company expects to achieve $300 million in cost savings by 2026 and reiterated its FY23 guidance with a core organic revenue decline and adjusted EBITDA margin contraction. Two executives will leave Avantor in 2024. AVTR shares closed slightly higher.

Portfolio Pulse from Lekha Gupta

December 08, 2023 | 10:48 am

GOOG

GOOGL

META

MSFT

A Bloomberg report suggests that Google may have staged its Gemini AI video demonstration, reducing latency and shortening outputs for brevity, which could mislead viewers about the AI's response time and conversational capabilities. The report casts doubt on Gemini's superiority over OpenAI's GPT-4, noting that the Ultra version of Gemini won't be available until 2024, while OpenAI has been releasing new versions of GPT more rapidly, potentially outpacing Google's AI by the time Gemini Ultra is released.

Portfolio Pulse from Rounak Jain

December 08, 2023 | 10:39 am

RIVN

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, has ordered a Rivian R1S SUV, jokingly questioning if it will arrive before his long-awaited Cybertruck. Despite his recent criticism of Elon Musk's controversial posts, Gerber remains optimistic about Tesla's future and maintains his Cybertruck reservation. Tesla is still the largest position in Gerber Kawasaki's portfolio, with shares worth around $100 million.

Portfolio Pulse from Anan Ashraf

December 08, 2023 | 10:32 am

CURV

Telsey Advisory Group analyst Dana Telsey has maintained a 'Market Perform' rating on Torrid Holdings (NYSE:CURV) and increased the price target from $2 to $5.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 10:29 am

CDMO

GDS

GME

GTES

HCP

LULU

XPEV

RH reported an unexpected Q3 loss with adjusted losses of 42 cents per share, missing analysts' expectations and last year's earnings of $5.67 per share. Sales also fell short of estimates, leading to a 9.4% drop in pre-market trading. Other stocks experiencing pre-market losses include Avid Bioservices, HashiCorp, Gates Industrial, XPeng, Lululemon Athletica, GDS Holdings, and GameStop, with various reasons such as weak quarterly results, secondary offerings, and weak sales outlooks.

Portfolio Pulse from Avi Kapoor

December 08, 2023 | 10:27 am

CASY

BMO Capital analyst Kelly Bania has downgraded Casey's General Stores (NASDAQ: CASY) from Outperform to Market Perform and set a price target of $290.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 10:14 am

CERE

TD Cowen analyst Joseph Thome has downgraded Cerevel Therapeutics Hldg (NASDAQ:CERE) from Outperform to Market Perform while setting a price target of $45.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 10:13 am

VRSK

Deutsche Bank analyst Faiza Alwy has downgraded Verisk Analytics (NASDAQ:VRSK) from Buy to Hold while slightly increasing the price target from $252 to $253.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 10:05 am

Telsey Advisory Group analyst Joseph Feldman has maintained a 'Market Perform' rating on Dollar General (NYSE:DG) and increased the price target from $124 to $135.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 10:05 am

KBH

Deutsche Bank analyst Joe Ahlersmeyer has downgraded KB Home (NYSE:KBH) from Hold to Sell and set a price target of $46.

Portfolio Pulse from Benzinga Newsdesk

December 08, 2023 | 10:01 am