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PNTG

The Pennant Group has announced a public offering of 3.5 million common shares at $31 per share, totaling $108.5 million. The proceeds will be used to repay debt and for general corporate purposes. The offering is expected to close on October 4, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 6:56 am

TSLA

UBER

Tesla is set to host its Robotaxi event on October 10, where it may demonstrate its 'cybercab' and discuss its autonomous ride-sharing plans. Analyst Adam Jonas from Morgan Stanley has an Overweight rating and a $310 price target for Tesla, expecting a potential commercial launch in 2025 or 2026. Tesla may offer incentives to ride-share drivers and target high-density metro areas.

Portfolio Pulse from Shanthi Rexaline

October 03, 2024 | 6:32 am

PAC

Grupo Aeroportuario del Pacifico (PAC) reported a 3.9% decrease in passenger traffic for September 2024 compared to the previous year. While Guadalajara airport saw a 4.1% increase, Los Cabos, Tijuana, and Puerto Vallarta experienced declines of 9.9%, 6.2%, and 5.1% respectively. Montego Bay also saw an 11.5% decrease.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 6:04 am

FFIE

Faraday Future executives, including CEO Matthias Aydt and Founder YT Jia, have purchased over 10,000 shares of the company's Class A common stock, totaling approximately $36,000.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 6:02 am

XRPUSD

The SEC has appealed a 2023 ruling in its legal battle against Ripple Labs, which had dismissed broader claims about XRP sales. The appeal aims to overturn a decision that deemed XRP sales to retail clients as legal. Ripple's executives criticized the SEC's move, calling it an embarrassment. The appeal coincides with Bitwise Asset Management's filing for the first-ever XRP ETF in the U.S. XRP's price dropped over 10% following the news.

Portfolio Pulse from Aniket Verma

October 03, 2024 | 5:42 am

BBJP

DXJ

EWJ

The recent Japan 10-Year JGB auction yield was reported at 0.871%, down from the previous 0.915%. This change in yield could impact ETFs with exposure to Japanese bonds and equities, such as BBJP, DXJ, and EWJ.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 4:36 am

BBJP

DXJ

EWJ

The au Jibun Bank Japan Services Purchasing Managers' Index (PMI) for September was reported at 53.1, below the estimated 53.9 and the prior 53.7. This indicates a slower expansion in Japan's services sector.

Portfolio Pulse from Benzinga Newsdesk

October 03, 2024 | 4:34 am

SOL

Edward Snowden's claims about Solana's centralization have been challenged by Mert Mumtaz, CEO of Solana-based Helius. Mumtaz argues that Solana's network is decentralized and invites Snowden to a debate. The discussion has sparked interest in Solana's potential and its native token SOL.

Portfolio Pulse from Aniket Verma

October 03, 2024 | 3:39 am

LUV

Rakesh Gangwal, a director at Southwest Airlines, invested over $100 million in the company amid pressure from Elliott Management for leadership changes. Gangwal opposes further leadership alterations, despite Elliott's push for a management overhaul. Southwest announced a $2.5 billion share repurchase program, reflecting a focus on shareholder value.

Portfolio Pulse from Benzinga Neuro

October 03, 2024 | 3:37 am

NVDA

Nvidia's CEO Jensen Huang announced that the demand for the next-gen Blackwell GPU platform is extremely high. The Blackwell chips, set to launch in the fourth quarter, are expected to significantly outperform previous models and generate substantial revenue. Despite previous delays, analysts remain optimistic about Nvidia's future.

Portfolio Pulse from Ananya Gairola

October 03, 2024 | 3:23 am