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KEY

Scotiabank is making a $2.8 billion strategic investment in KeyCorp, acquiring a 14.9% stake at $17.17 per share. This investment will bolster KeyCorp's capital and earnings, increasing its CET1 capital ratio and tangible book value per share. The transaction is expected to be accretive to KeyCorp's earnings in 2025 and 2026. The deal is subject to regulatory approvals and will be completed in two tranches.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 10:03 am

ESPR

Esperion Therapeutics has reiterated its full-year 2024 operating expense guidance of approximately $225M-$245M, which includes $20M in non-cash expenses related to stock compensation.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 10:02 am

GOOG

TSLA

Tesla's long-term success hinges on the deployment of its robotaxi service, which relies on its Full Self-Driving (FSD) technology. A poll by Gary Black of Future Fund LLC revealed that nearly 50% of respondents expect FSD approval by 2025. Tesla's latest FSD version, 12.5.1.3, is rolling out, but regulatory approval is complex and state-specific. Tesla's robotaxi network will likely roll out in stages, with significant infrastructure and licensing requirements.

Portfolio Pulse from Shanthi Rexaline

August 12, 2024 | 10:01 am

ESPR

Esperion Therapeutics reported a Q2 2024 GAAP EPS of $(0.33), missing the estimate of $(0.18). Sales were $73.834M, which may not be comparable to the $49.056M estimate.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 10:01 am

TSLA

Former Tesla executive Rohan Patel stated that the Inflation Reduction Act (IRA) passed by the Democratic Party has significantly benefited Tesla, contrary to claims that the company was sidelined. Tesla's involvement in various incentivized activities under the IRA, such as solar deployment and battery manufacturing, puts it in a favorable position compared to legacy automakers. Despite Tesla CEO Elon Musk's endorsement of Donald Trump, the Democratic Party has continued to support Tesla. Musk believes that the elimination of EV subsidies, as proposed by Trump, would slightly impact Tesla but devastate its competitors.

Portfolio Pulse from Anan Ashraf

August 12, 2024 | 9:15 am

LIPO

Lipella Pharmaceuticals Inc. (NASDAQ:LIPO) has started dosing patients in its Phase 2a clinical trial for LP-310, a treatment for Oral Lichen Planus (OLP). The trial involves adult subjects with OLP, a chronic inflammatory condition affecting the mouth. The study is expected to conclude in mid-2025, with top-line data anticipated by the end of 2024.

Portfolio Pulse from Benzinga Newsdesk

August 12, 2024 | 9:01 am

AAVEUSD

BTCUSD

ETHUSD

Popular crypto trader Michael van de Poppe has highlighted Bittensor (TAO), Aave (AAVE), and Renzo (REZ) as top altcoin picks following a market dip. He emphasized the potential for significant returns due to their current momentum and undervaluation. Grayscale Investments' creation of a TAO-based fund indicates growing interest in TAO.

Portfolio Pulse from Aniket Verma

August 12, 2024 | 8:58 am

BRK

MSTR

MicroStrategy Inc. (NASDAQ:MSTR) has significantly outperformed Berkshire Hathaway Inc. (NYSE:BRK) since adopting Bitcoin as its primary reserve asset in August 2020. MicroStrategy's stock has soared 839%, while Berkshire Hathaway's stock has grown by 101%. This performance is notable given Berkshire's executives' critical stance on Bitcoin.

Portfolio Pulse from Aniket Verma

August 12, 2024 | 8:40 am

AAPL

BRK

Global market turmoil originating in Japan caused a significant but temporary decline in Japanese stocks, impacting Warren Buffett's $20 billion investment in Japanese trading houses. Despite an initial 30% plunge, the market recovered most losses by the end of the week. Berkshire Hathaway's strategic shift includes selling half of its Apple stake and increasing U.S. Treasury holdings.

Portfolio Pulse from Benzinga Neuro

August 12, 2024 | 8:24 am

SE

Sea Limited (NYSE:SE) is set to release its Q2 earnings on Aug. 13, 2024. Analysts expect earnings of 18 cents per share, down from 54 cents a year ago, with revenue projected at $3.72 billion, up from $3.2 billion. Recent analyst ratings include downgrades and price target adjustments.

Portfolio Pulse from Avi Kapoor

August 12, 2024 | 8:05 am