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Li Auto Inc (NASDAQ:LI) shares surged after reporting a 39.2% year-over-year increase in March 2024 vehicle deliveries, totaling 28,984 units. This boost contributed to a 52.9% rise in first-quarter deliveries to 80,400, surpassing the company's revised forecast of 76,000-78,000 vehicles. Li Auto has now delivered over 700,000 vehicles cumulatively, marking a significant milestone for the Chinese new energy automaker. The company's expansive retail and service network supports its growth.

Portfolio Pulse from Shivani Kumaresan

April 01, 2024 | 10:31 am

AAPL

BBY

DKS

LEN

MSFT

TOL

Jim Cramer emphasized the importance of share count reduction in driving stock performance, noting that over half of the S&P 500 stocks reaching new 52-week highs in Q1 benefited from this strategy. He highlighted companies across housing, retail, and technology sectors, including Lennar, Toll Brothers, Best Buy, Dick's Sporting Goods, Apple, and Microsoft, as examples of firms that have significantly reduced their share counts since 2019. This trend is seen as a positive indicator for the S&P 500, which is predicted to surge by 15% by the end of 2024.

Portfolio Pulse from Benzinga Neuro

April 01, 2024 | 10:23 am

AMZN

CRM

FTEC

MSFT

XLK

Microsoft Corp has decided to sell its Teams application separately from its Office suite globally to address antitrust concerns, following a similar move in Europe six months earlier. This decision comes after an investigation by the European Commission, triggered by a complaint from Slack, owned by Salesforce Inc. Despite these changes, Microsoft may still face EU antitrust charges related to pricing and interoperability issues. Microsoft is also engaging with CISPE, including Amazon.Com Inc, to address a complaint about its cloud computing licensing practices. The stock has gained over 46% in the last 12 months, with exposure available through SPDR Select Sector Fund – Technology and Fidelity MSCI Information Technology Index ETF.

Portfolio Pulse from Anusuya Lahiri

April 01, 2024 | 10:17 am

GUTS

Fractyl Health's stock price increased following the FDA's IDE approval for its Revita Remain-1 study, aimed at treating obesity in patients who have stopped responding to GLP-1 based drugs.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:15 am

TSQ

Townsquare Media, Inc. (TSQ) announced the repurchase and retirement of 1.5 million shares of Class A common stock from MSG National Properties, LLC at $9.76 per share, an 11% discount from the closing price on March 28, 2024. This follows previous repurchases in June 2023 and March 2021. The $14.6 million purchase was funded with cash on hand. Townsquare's Cash Flow from Operations increased 35% year-over-year to $68 million in 2023, with the transaction increasing Cash Flow per share to approximately $4.47, a 10% accretion. Post-transaction, the company has 15.2 million shares outstanding.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 10:05 am

TSLA

Tesla, Inc. (NASDAQ: TSLA) is expected to report a year-over-year decline in Q1 deliveries, the first since 2020, despite significant price cuts and incentives. Future Fund's Gary Black anticipates a weak number but suggests the stock could rally if deliveries exceed last year's, despite falling short of Wall Street's expectations. Tesla shares have dropped 29% year-to-date but rose 1.10% in premarket trading.

Portfolio Pulse from Shanthi Rexaline

April 01, 2024 | 9:52 am

ZPTA

Zapata AI's shares started trading on Monday after the company completed its merger with Andretti Acquisition. Following the merger, Zapata AI's shares saw a significant increase, rising 200% in premarket trading.

Portfolio Pulse from Charles Gross

April 01, 2024 | 9:46 am

FWONA

FWONK

Liberty Media Corporation (NASDAQ:FWONA, FWONK) has announced its agreement to acquire Dorna Sports, the exclusive commercial rights holder to the MotoGP World Championship, from Bridgepoint and Canada Pension Plan Investment Board for an enterprise value of €4.2B and an equity value of €3.5B. The deal involves Liberty Media acquiring 86% of MotoGP, with the remaining 14% retained by MotoGP management. The transaction will be paid through 65% cash, 21% in FWONK shares, and 14% retained equity, with the option for Liberty Media to pay additional cash instead of FWONK shares.

Portfolio Pulse from Benzinga Newsdesk

April 01, 2024 | 9:34 am

ARB

DOGE

ETH

WIF

BitMEX co-founder Arthur Hayes and Real Vision CEO Raoul Pal discussed the value meme coins bring to the crypto industry by attracting attention and new participants. They highlighted the popularity of meme coins among younger investors and mentioned the success of the Solana-based memecoin dogwifhat (WIF), which recently surpassed Arbitrum (ARB) in market cap. Ethereum co-founder Vitalik Buterin also commented on memecoins, suggesting they could be made useful or charitable.

Portfolio Pulse from Mehab Qureshi

April 01, 2024 | 9:31 am

VWAGY

XPEV

XPeng (NYSE:XPEV), a Chinese electric vehicle manufacturer, has announced its entry into the German market, challenging Volkswagen (OTC:VWAGY) and other automakers. The launch is part of XPeng's European expansion, with vehicle sales in Germany starting in May. XPeng plans to showcase its G9 SUV and P7 sports sedan at 24 retail locations across Germany, aiming for a 3% market share in the new energy vehicle segment by year-end. This move comes as BEV sales in Germany saw a 15.4% decline, despite a modest 9% growth in the EU. Volkswagen leads EU auto sales, with an 11.5% increase in registrations year-on-year.

Portfolio Pulse from Anan Ashraf

April 01, 2024 | 9:21 am