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RIVN

Rivian's stock is declining as the company reduces its annual production guidance due to a supply shortage affecting its R1 and RCV platforms.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 10:13 am

RIVN

Rivian has revised its annual production guidance down to 47,000 - 49,000 vehicles from a previous estimate of 57,000 due to a supply shortage affecting its R1 and RCV platforms. Despite this, the company maintains its delivery outlook for 2023 at 50,500 to 52,000 vehicles.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 10:09 am

IDYA

IDEAYA Biosciences announced a late-breaker oral presentation of IDE397 Phase 1 expansion results in MTAP-deletion lung and urothelial cancer at the 36th EORTC-NCI-AACR Symposium. This highlights the progress in their cancer therapeutics pipeline.

Portfolio Pulse from Nabaparna Bhattacharya

October 04, 2024 | 10:05 am

GOOG

GOOGL

Google, under Alphabet Inc., is set to transform its search experience with the integration of Gemini AI models. This update will introduce an AI-driven layout that prioritizes videos, forum links, and widgets, initially for open-ended queries. The changes aim to enhance user exploration and fend off competition from OpenAI's SearchGPT.

Portfolio Pulse from Benzinga Neuro

October 04, 2024 | 9:56 am

TSLA

Tesla's upcoming robotaxi event on Oct. 10 is expected to announce three new vehicles, including a $25,000 model, a robotaxi, and a robovan. Analyst Gene Munster emphasizes the importance of the cheaper model for Tesla's growth, despite potential production delays. Tesla's recent delivery numbers fell short of expectations, impacting stock performance.

Portfolio Pulse from Anan Ashraf

October 04, 2024 | 9:51 am

BDSX

PEV

SAVE

VEV

Phoenix Motor Inc. (NASDAQ:PEV) shares surged 150.2% in pre-market trading after reporting a significant year-over-year increase in first-quarter financial results, with adjusted earnings of 44 cents per share and a 427.79% increase in sales. Other stocks also showed notable pre-market movements, including Vicinity Motor Corp, Biodesix, and Spirit Airlines, which is reportedly discussing potential bankruptcy.

Portfolio Pulse from Avi Kapoor

October 04, 2024 | 9:49 am

NVDA

Nvidia is facing a class action lawsuit backed by the DOJ and SEC, alleging it misrepresented cryptocurrency revenue as gaming revenue. The lawsuit, initially dismissed, has been revived by an appeals court. Nvidia's stock saw a slight increase but declined marginally in after-hours trading.

Portfolio Pulse from Aniket Verma

October 04, 2024 | 9:48 am

APOG

LEVI

U.S. stocks fell on Thursday amid Middle East concerns, with the Dow dropping nearly 200 points. Levi Strauss & Co. shares fell 8% due to poor Q3 sales and a strategic review of its Dockers brand. Investors await Apogee Enterprises' earnings results.

Portfolio Pulse from Avi Kapoor

October 04, 2024 | 7:46 am

AMZN

META

NVDA

TSLA

Meta Platforms' stock surge has propelled Mark Zuckerberg to become the world's second-richest person, surpassing Jeff Bezos. Meta's stock has gained over 64% this year, while Amazon's has increased by about 20%. Meta's strategic measures and AI initiatives have driven its stock uptrend, while Amazon faces near-term risks due to economic uncertainties.

Portfolio Pulse from Shanthi Rexaline

October 04, 2024 | 6:42 am

ARBK

Argo Blockchain reported a decrease in Bitcoin mining revenue to $2.2M in September 2024 from $2.3M in August 2024. The mining margin for Q3 was below 10% due to lower hash prices and higher power costs. The company held 4 BTC equivalent as of September 30, 2024.

Portfolio Pulse from Benzinga Newsdesk

October 04, 2024 | 6:23 am