Streetbeat News

Stock Prices

F

Ford Motor Company (NYSE: F) is delivering 144,000 redesigned F-150 and Ranger trucks to North American dealers to address quality issues and has resumed F-150 Lightning electric truck shipments with a price reduction of up to $5,500. This move is part of Ford's strategy to enhance quality assurance and customer satisfaction, aiming for a pre-tax profit between $10 billion and $12 billion in 2024. The delay in truck distribution may affect Ford's Q1 financial results, with 60,000 F-150s pending shipment this quarter. Ford's actions, including a price cut on the Lightning model, reflect efforts to remain competitive in the EV market and avoid past warranty repair costs.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 10:14 am

KMX

CarMax Inc (NYSE:KMX) is marketing a $1.25 billion bond sale following a fourth-quarter earnings miss, with potential to increase to $1.6 billion. The sale is organized by Mitsubishi UFJ Financial Group and comes after CarMax shares dropped due to lower-than-expected profits, attributed to vehicle affordability challenges. This move into the ABS market follows a history of CarMax raising funds through ABS offerings, including a $1.55 billion sale in January.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 9:59 am

TSLA

Gary Black of Future Fund predicts Tesla, Inc. (TSLA) will surpass Q1 earnings expectations, potentially aided by $926 million in full-self-driving deferred revenue. He anticipates flat 2024 delivery growth at 1.8 million units, a figure already priced into the stock. Black hopes CEO Elon Musk won't blame the Q1 volume decline on high interest rates, noting that EV competitors saw 15-20% growth. He suggests Tesla could meet its 2024 delivery estimate by increasing advertising and resolving production issues.

Portfolio Pulse from Shanthi Rexaline

April 12, 2024 | 9:51 am

RR

Richtech Robotics Inc (NASDAQ:RR) is experiencing a surge in stock price after announcing a joint venture with Zipphaus Corp to launch robot-operated cafes in strategic locations such as hospitals and universities. The partnership aims to combine Richtech's robotics technology with Zipphaus's operational expertise to expand development opportunities across the U.S. The initial plan includes opening flagship cafes in major hospitals. Richtech will provide ADAM robots and technical support, while Zipphaus will manage daily operations. RR shares rose by 8.99% to $1.94 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 9:44 am

ALLR

MOTS

NXPL

RENT

NextPlat Corp (NASDAQ:NXPL) shares surged approximately 30% in pre-market trading after announcing a 222% year-over-year increase in consolidated 2023 revenues, reaching $37.8 million. Other stocks also showed significant movement in pre-market trading, with notable gainers including Allarity Therapeutics, PaxMedica, OncoCyte Corporation, and Zapata Computing Holdings, among others. Conversely, several stocks experienced declines, such as Motus GI Holdings, Rent the Runway, and Kazia Therapeutics, driven by various company-specific news and market reactions.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 9:32 am

AAPL

DIS

META

Elon Musk is inviting advertisers to return to X (formerly Twitter), leveraging issues with Meta Platforms Inc.'s (META) advertising system. Musk's outreach follows reports of Meta's ad system causing increased costs and reduced sales for marketers. Musk's efforts to attract advertisers back to X come amid his criticisms of Meta's ad system and past conflicts with major advertisers like Walt Disney Co. and Apple Inc.

Portfolio Pulse from Ananya Gairola

April 12, 2024 | 8:25 am

TSLA

A Tesla user shared a story on the X platform about how the Full Self-Driving (FSD) feature of his Model Y helped him reach the emergency room during a medical crisis. The user praised Tesla's FSD for its navigation and parking capabilities, highlighting the technology's potential lifesaving benefits. Elon Musk responded positively to the story. The article also mentions skepticism and challenges surrounding FSD technology, including regulatory scrutiny and technical issues reported by other users.

Portfolio Pulse from Shanthi Rexaline

April 12, 2024 | 8:23 am

BTCUSD

Hong Kong is poised to become a key player in the cryptocurrency ETF market, potentially accelerating Bitcoin's rise to $100,000. Insider sources indicate that spot Bitcoin ETFs may launch in Hong Kong this month, with Chinese asset managers like China Asset Management, Harvest Fund Management, and Bosera Asset Management leading the initiative. The introduction of these ETFs is expected to attract significant global investment, mirroring the success seen in the U.S., where Bitcoin ETFs have amassed $58 billion in assets. This development comes despite China's ban on cryptocurrency trading, highlighting Hong Kong's strategic position to tap into the crypto market through more lenient regulations.

Portfolio Pulse from Ramakrishnan M

April 12, 2024 | 7:33 am

AGX

C

JPM

PXMD

WFC

Citigroup, JPMorgan, Argan, PaxMedica, and Wells Fargo are stocks to watch due to earnings reports and significant after-hours trading movements. Citigroup and Wells Fargo are anticipated to report their quarterly earnings, with Citigroup expected to show a decrease compared to the previous year. Argan reported better-than-expected Q4 results, leading to a 7.4% increase in its stock price. JPMorgan is also expected to release its earnings, with a slight increase in its stock price in after-hours trading. PaxMedica announced the completion of pivotal batches for PAX-101, causing a 116.1% surge in its stock price.

Portfolio Pulse from Avi Kapoor

April 12, 2024 | 7:00 am

SOL

Marginfi, a Solana-based DeFi protocol, experienced over $214 million in withdrawals following the resignation of its CEO, Edgar Pavlovsky, due to internal disagreements. The departure led to significant fund outflows and a public dispute with Solana staking pool SolBlaze over governance token management. Competitor Solend capitalized on the situation by offering airdrops to dissatisfied Marginfi users. Despite these challenges, Marginfi is committed to mending its partnership with SolBlaze and moving forward.

Portfolio Pulse from Benzinga Neuro

April 12, 2024 | 6:52 am