Streetbeat News

Stock Prices

TSLA

Tesla Inc. (NASDAQ:TSLA) is recalling over 11,000 Cybertrucks due to applique detachment risk and nearly 12,000 for windshield wiper flaws. The company will replace or rework the affected parts. No collisions, injuries, or deaths have been reported due to these issues.

Portfolio Pulse from Anan Ashraf

June 25, 2024 | 10:32 am

FFIE

Faraday Future Intelligent Electric Inc. (NASDAQ:FFIE) shares are slumping in the premarket session following the announcement of a reverse stock split proposal. The company aims to regain compliance with Nasdaq's listing requirements after receiving deficiency notices due to its stock price falling below the minimum bid price and delayed filings. Faraday Future has also appointed a new independent auditor, Macias Gini & O’Connell LLP, to replace Mazars USA LLP.

Portfolio Pulse from Nabaparna Bhattacharya

June 25, 2024 | 10:23 am

AVDE

AVSD

UBS

UBS Group AG is selling a 36.01% stake in one of its securities joint ventures in China to comply with local regulations. The stake is being sold to Beijing State-owned Asset Management (BSAM) for $91.4 million. This move follows UBS's merger with Credit Suisse and aims to consolidate its operations in China. UBS shares are trading lower, down 1.99% premarket.

Portfolio Pulse from Lekha Gupta

June 25, 2024 | 10:08 am

TSLA

Tesla is recalling nearly 12,000 Cybertruck electric pickup trucks due to a potential safety issue, as reported by Reuters citing the National Highway Traffic Safety Administration (NHTSA).

Portfolio Pulse from Benzinga Newsdesk

June 25, 2024 | 9:57 am

TSLA

Tesla's weekly insurance registrations in China hit 17,400 units for the week ended June 23, marking the highest weekly registrations for the year. This is a 48.7% increase from the previous week. Analyst Gary Black termed the numbers as 'excellent,' noting that the second quarter is still trailing last year's corresponding period by 7.2% year-on-year but is up 14% quarter-on-quarter.

Portfolio Pulse from Anan Ashraf

June 25, 2024 | 9:52 am

ALGM

BILI

BIRK

POOL

SE

SEDG

SMR

SPR

Several major stocks experienced declines in Tuesday's pre-market session. Pool Corporation lowered its FY24 EPS forecast, leading to an 8.6% drop in its share price. SolarEdge Technologies fell 15% after announcing a $300 million convertible notes offering. Spirit AeroSystems dropped 5.4% amid acquisition talks with Boeing. Other notable declines included Birkenstock, Bilibili, Allegro MicroSystems, Sea Limited, and NuScale Power.

Portfolio Pulse from Avi Kapoor

June 25, 2024 | 9:45 am

NVO

Novo Nordisk's weight loss drug Wegovy has received approval in China, leading to a surge in the company's U.S.-listed stock. This approval opens up a significant market opportunity in China, where over half the population is overweight or obese. Despite facing competition from local manufacturers and Eli Lilly, Novo Nordisk is expanding its manufacturing capabilities to meet growing demand.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 9:44 am

EADSY

Airbus shares dropped over 10% after the company revised its 2024 targets downward due to supply chain issues and additional costs in its space systems division. The company now expects adjusted earnings before interest and taxes to be around €5.5 billion and forecasts 770 commercial aircraft deliveries for 2024.

Portfolio Pulse from Benzinga Neuro

June 25, 2024 | 9:16 am

META

Meta Platforms Inc. (NASDAQ:META) is facing backlash for mislabeling real photos as AI-generated on its social networks, causing outrage among photographers and users. The company announced in February that it would start labeling AI-created photos, but has mislabeled some real photos, including a notable sports event. Meta is evaluating its approach to ensure accurate labeling.

Portfolio Pulse from Ananya Gairola

June 25, 2024 | 9:12 am

ADAUSD

Martin Lawrence has become one of the top influencers for Cardano (ADA) after his social media posts promoting the cryptocurrency went viral. Lawrence's involvement with Cardano includes past collaborations and potential future projects, such as an NFT collection. ADA's price has risen by 4.13% in the last 24 hours.

Portfolio Pulse from Aniket Verma

June 25, 2024 | 9:04 am