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TSLA

Tesla Inc.'s head of product launches, Rich Otto, has resigned, joining a series of senior executive departures amid company-wide layoffs and cost-cutting measures. Tesla announced a 10% workforce reduction last month, affecting an estimated 14,000 employees, reflecting challenges such as declining sales and pricing pressures. For Q1, Tesla reported a revenue decline to $21.3 billion from $23.33 billion a year earlier, and a 55% drop in net profit to $1.13 billion. Tesla's stock is down nearly 30% year-to-date.

Portfolio Pulse from Anan Ashraf

May 09, 2024 | 5:45 am

DDOG

DIS

UBER

UPST

Jim Cramer emphasized the importance of company guidance in the current volatile market, noting that stocks like Walt Disney Co (DIS), Datadog Inc (DDOG), Uber Technologies Inc (UBER), and Upstart Holdings Inc (UPST) saw declines due to less-than-ideal forecasts. Despite strong quarterly results, these companies' stocks suffered after providing soft guidance, with Disney's shares dropping about 10% post-earnings call. Cramer suggests buying these stocks if the Fed cuts interest rates but highlights the current market's focus on future guidance over past performance.

Portfolio Pulse from Benzinga Neuro

May 09, 2024 | 5:35 am

TSLA

Wedbush analyst Dan Ives highlighted the critical role of China in Tesla Inc.'s growth, particularly with the company's plans to test robotaxis in the country. Despite the Chinese government not fully approving Tesla's Full Self-Driving functions, it has allowed some robotaxi trials. This development, along with Tesla's partnership with Baidu for driver assistance features, underscores China's importance to Tesla's global strategy. The focus on China comes amid a broader executive shake-up at Tesla, emphasizing the region's significance in Tesla's expansion.

Portfolio Pulse from Benzinga Neuro

May 09, 2024 | 5:35 am

EWA

Australia's Building Approvals for the month showed a 1.9% increase, aligning with estimates and marking a recovery from the previous month's -0.9% decline. This data could influence investor sentiment regarding Australian market-related investments, including EWA.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 5:16 am

EWU

The U.K. RICS House Price Balance for April was reported at -5%, lower than the estimated -2% and matching the revised figure for the previous month.

Portfolio Pulse from Benzinga Newsdesk

May 09, 2024 | 5:15 am

ARM

ARM Holdings Plc (NASDAQ:ARM) announced its entry into the automotive sector with the introduction of autonomous driving solutions based on the ARMv9 architecture during its Q4 earnings call. CEO Rene Haas highlighted the significance of bringing ARMv9's advanced performance and safety features to the automotive industry, expecting substantial growth. The move follows ARM's strong Q4 financial results, including record royalty revenue, positioning the company for expansion into new markets amidst the technological advancements in the automotive sector.

Portfolio Pulse from Kaustubh Bagalkote

May 09, 2024 | 4:00 am

COIN

RDDT

SHOP

Cathie Wood's Ark Invest made significant trades, buying shares of Shopify Inc (SHOP) and Reddit Inc (RDDT), and selling Coinbase Global Inc (COIN) shares. The Shopify purchase, valued at $30.24 million, occurred despite an 18.59% plunge in its stock price following Q1 results. Reddit shares were bought for $5.93 million, after reporting strong Q1 results and Q2 guidance. Coinbase shares were sold amid a decline in Bitcoin prices. Other trades included selling shares of Global-E Online Ltd (GLBE), Twilio Inc (TWLO), StoneCo Ltd (STNE), Draftkings Inc (DKNG), Twist Bioscience Corp (TWST), AeroVironment Inc (AVAV), and 2U Inc (TWOU), while buying Rocket Lab USA Inc (RKLB).

Portfolio Pulse from Benzinga Neuro

May 09, 2024 | 3:54 am

ABNB

ARM

HOOD

SHOP

TSLA

On Wednesday, ARM Holdings, Robinhood, Airbnb, Shopify, and Tesla were key stocks on investors' radars, with varied performances. ARM Holdings reported better-than-expected Q4 results, Robinhood announced record Q1 revenue, Airbnb saw an 18% increase in Q1 revenue, Shopify reported a 23% growth in Q1 revenue, and Tesla's shares fell amid investigations into its self-driving technology claims.

Portfolio Pulse from Benzinga Neuro

May 09, 2024 | 3:20 am

BTCUSD

DOGEUSD

ETHUSD

Bitcoin, Ethereum, and Dogecoin experienced declines, with Bitcoin's fundamentals suggesting a potential 300% upside, indicating a future price between $250K-$275K. The cryptocurrency market saw over $140 million in liquidations, with a notable increase in bullish positions on Bitcoin despite its recent losses. The U.S. equity market showed mixed results, and the correlation between cryptocurrencies and traditional markets remains low, suggesting independent movements.

Portfolio Pulse from Aniket Verma

May 09, 2024 | 2:00 am

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) plans to launch index options and futures trading for active traders in Q4 2024, aiming to capitalize on its growing user base. The announcement was made during its Q1 2024 earnings call, highlighting a focus on mobile user experience and competitive pricing. This expansion follows a record first quarter with significant revenue and customer asset growth. Despite facing SEC allegations, Robinhood's stock has been performing well, with the new offerings expected to attract more active traders.

Portfolio Pulse from Kaustubh Bagalkote

May 09, 2024 | 1:59 am