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TSLA

Former Tesla executive Rohan Patel praised California Governor Gavin Newsom for his support of Tesla despite CEO Elon Musk's criticisms. Patel emphasized that political disagreements with Musk do not equate to opposition to Tesla. Newsom's recent praise for Rivian highlights increased competition in the EV market, with Tesla's new registrations in California falling by 17% in the first half of 2024, while Rivian's rose by nearly 77%. Despite this, Tesla's Model Y remains the best-selling EV in the state.

Portfolio Pulse from Anan Ashraf

August 08, 2024 | 6:19 am

CRH

CRH has announced a new phase of its share buyback program, entering into an agreement with BNP Paribas Securities Corp. to repurchase up to $0.3 billion worth of its ordinary shares listed on the New York Stock Exchange. This phase will run from August 8, 2024, to November 6, 2024. Since May 2018, CRH has returned a total of $7.9 billion to shareholders through its buyback program.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 6:16 am

CRH

CRH has raised its 2024 outlook, now expecting EPS of $5.40-$5.60 (previously $5.15-$5.45) and adjusted EBITDA of $6.82B-$7.02B (previously $6.55B-$6.85B). The company cites strong financial performance, positive business momentum, and recent portfolio activity as reasons for the improved guidance.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 6:13 am

SMCI

The Nikkei 225 index rebounded by 10.23% after a historic drop, driven by an emergency meeting by the Bank of Japan and Ministry of Finance. The article discusses a strategy of adding long positions on down days, mentioning a bullish bet on Super Micro Computer Inc. (NASDAQ:SMCI). It also outlines a plan to short a weak regional bank based on specific screening criteria.

Portfolio Pulse from David Pinsen

August 08, 2024 | 6:11 am

VRNA

Verona Pharma (NASDAQ:VRNA) reported Q2 2024 GAAP EPS of $(0.11), significantly beating the analyst consensus estimate of $(0.38). The company also reported a cash position of $404.6M.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 6:06 am

KNW

Know Labs has announced a public offering of 13.25 million units at $0.26 per unit, raising $3.445 million before expenses. Each unit includes one share of common stock and one warrant to purchase an additional share at the same price.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 5:47 am

BETR

Better has announced a 1-for-50 reverse stock split effective August 16, 2024. The split was approved by stockholders and the Board of Directors. The Class A common stock will begin trading on a split-adjusted basis on August 19, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 08, 2024 | 5:40 am

HOOD

Robinhood Markets Inc. (NASDAQ:HOOD) has reported that its 24-hour market trading volume is nearing $30 billion, despite recent technical challenges. CEO Vlad Tenev highlighted the feature's popularity and its role in the company's strategy. Despite an outage caused by a third-party provider, Robinhood remains committed to improving the system. The company's second-quarter earnings showed a 40% year-over-year revenue increase, reaching $682 million.

Portfolio Pulse from Benzinga Neuro

August 08, 2024 | 5:33 am

DIS

Disney CFO Hugh Johnston discussed the company's recent price hikes for Disney+, Hulu, and ESPN+ during the fiscal Q3 2024 earnings call. He emphasized the value provided to consumers and the positive impact of bundling on churn. Disney reported a 4% year-on-year revenue growth, slightly surpassing analyst estimates. Despite this, Disney shares fell by 4.43% during the regular session and further by 0.65% in after-hours trading.

Portfolio Pulse from Ananya Gairola

August 08, 2024 | 5:10 am

DIS

Disney CEO Bob Iger unveiled a robust film slate for the next two years, including 'Moana 2' and a new 'Avengers' movie, during the company's Q3 2024 earnings call. The lineup aims to drive box office and streaming revenues. Despite mixed financial results, Disney's streaming business turned profitable, and the company reported a 4% YoY revenue increase.

Portfolio Pulse from Benzinga Neuro

August 08, 2024 | 4:37 am