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TSLA

Tesla's lead Cybertruck engineer, Wes Morrill, questioned the practicality of GM's 'CrabWalk' feature on social media, a feature that allows vehicles to move diagonally. Morrill revealed Tesla had explored a similar feature but found it lacked real-world use and was difficult to control. The discussion also touched on Tesla's own 'fart mode,' highlighting features with questionable utility. GM's CrabWalk, first introduced on the Hummer EV, is touted as enhancing off-roading capabilities. The 2024 Sierra EV Denali Edition 1, featuring CrabWalk, boasts a 440-mile range, slightly exceeding the Cybertruck's range. GMC's U.S. deliveries fell nearly 5% in Q1, despite selling 1,668 units of the Hummer EV.

Portfolio Pulse from Anan Ashraf

April 19, 2024 | 12:30 pm

AXP

IPAY

JRNY

American Express Co (AXP) reported a first-quarter revenue increase of 11% year-on-year to $15.80 billion, slightly above consensus estimates. The growth was driven by higher net interest income and increased Card Member spending. EPS was $3.33, surpassing the consensus of $2.95. The company also reiterated its FY24 revenue growth outlook of 9%-11%. Despite mixed analyst opinions regarding credit quality and growth, AXP's stock has gained 32% over the last 12 months. AXP's performance can impact related ETFs like IPAY and JRNY.

Portfolio Pulse from Anusuya Lahiri

April 19, 2024 | 12:30 pm

EARN

Ellington Residential has announced a rebranding to Ellington Credit Company. This strategic move is aimed at reflecting the company's broader focus on credit investments. The rebranding includes a change in the company's ticker symbol from EARN to a new symbol that aligns with its new identity.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:23 pm

KBH

KB Home (NYSE:KBH) announced a $1 billion stock repurchase plan and a 25% increase in its quarterly dividend, from $0.20 to $0.25 per share. This move follows a prior authorization with $113.6 million remaining and is part of a strategy to return value to shareholders while maintaining growth. The company plans to repurchase $200-$400 million in shares in 2024, including $50 million already completed in Q1. The dividend increase results in an annualized rate of $1.00 per share, reflecting a 1.6% yield based on the April 17, 2024 closing price. KB Home's strong balance sheet, with $668.1 million in cash and equivalents as of February 29, 2024, supports these initiatives. KBH shares saw a 1.04% increase in premarket trading to $61.04.

Portfolio Pulse from Shivani Kumaresan

April 19, 2024 | 12:21 pm

ADAUSD

Crypto analyst Ali Martinez predicts a significant rebound for Cardano (ADA) based on its MVRV ratio dropping below -22%, a signal previously followed by a 75% price surge. Technical analysis also shows bullish signs. Cardano's CEO, Frederik Gregaard, hints at a new era in decentralized governance for the ecosystem. Despite a month-over-month decline of 23.4%, ADA's recent 24-hour performance shows a 4.5% increase. Large transaction volumes have risen, and a majority of ADA holders have retained their tokens for over a year.

Portfolio Pulse from Khyathi Dalal

April 19, 2024 | 12:18 pm

TSLA

Tesla, Inc. (NASDAQ:TSLA) announced layoffs that eliminated several top managerial positions, leading to at least 35 executives now directly reporting to CEO Elon Musk. This restructuring raises concerns about 'CEO overload' and Musk's ability to manage effectively, given his involvement in multiple companies. The situation is flagged as a key risk for Tesla stakeholders, especially with Tesla's stock at its lowest level in over a year.

Portfolio Pulse from Shanthi Rexaline

April 19, 2024 | 12:12 pm

ISRG

Intuitive Surgical Inc (NASDAQ:ISRG) reported Q1 revenue of $1.89 billion, surpassing the consensus estimate of $1.87 billion, and adjusted earnings of $1.50 per share, beating estimates of $1.41 per share. Revenue was up 11% year-over-year, and the installed base of da Vinci surgical systems grew by 14%. Despite the positive results, shares fell 0.4% to close at $372.63. Analysts from Baird and Jefferies revised their price targets for ISRG following the earnings announcement, with Baird reducing its target from $440 to $436 while maintaining an Outperform rating, and Jefferies raising its target from $365 to $375 with a Hold rating.

Portfolio Pulse from Avi Kapoor

April 19, 2024 | 12:10 pm

ASST

NFLX

In Friday's pre-market session, several Communication Services stocks showed notable movements. Gainers included Asset Entities, TuanChe, Paramount Global, Lytus Technologies Holdings, Onfolio Holdings, and Starbox Group Holdings with increases ranging from 6.08% to 11.8%. Conversely, losers comprised MediaCo Holding, Hanryu Holdings, Global Mofy Metaverse, Baosheng Media Group, Netflix, and Chicken Soup for the Soul, with declines between 4.93% and 9.2%. Netflix's drop was highlighted alongside its Q1 earnings report release.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 12:08 pm

CHRO

ERAS

HLTH

INVO

LIFW

NXL

In Friday's pre-market session, several healthcare stocks showed significant movement. Chromocell Therapeutics, Kineta, Portage Biotech, Erasca, MSP Recovery, and Cue Health were among the gainers, with increases ranging from 12.25% to 21.6%. On the downside, Nexalin Technology, iSpecimen, INVO Bioscience, Intelligent Bio Solutions, Trevena, and PaxMedica experienced declines between 9.58% and 18.4%. Notably, MSP Recovery and INVO Bioscience had recent earnings reports influencing their stock movements.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 12:08 pm

AULT

DCFC

WLGS

In Friday's pre-market session, there were notable movements in the industrials sector stocks. WANG & LEE Group, Ault Alliance, and Richtech Robotics were among the top gainers, with increases of 24.0%, 21.52%, and 20.14% respectively. On the downside, Tritium DCFC, BioNexus Gene Lab, and Smart Powerr experienced significant drops, with Tritium DCFC leading the losses at 65.7%. These movements reflect significant volatility within the industrials sector, impacting the market value of these companies.

Portfolio Pulse from Benzinga Insights

April 19, 2024 | 12:08 pm