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TSLA

Elon Musk's recent visit to China for Tesla's FSD push coincides with China's increasing focus on hydrogen-powered vehicles as an alternative for green energy transition. The Chinese government is rolling out incentives for hydrogen vehicles, with Sichuan province leading initiatives like toll exemptions and subsidies for hydrogen refueling stations. Meanwhile, China's EV sector faces overcapacity, with production outpacing sales. Despite Musk's skepticism towards hydrogen energy, China is advancing its hydrogen infrastructure, positioning itself as a leader in clean energy. Tesla is also partnering with Baidu to introduce driver assistance features in China.

Portfolio Pulse from Pooja Rajkumari

April 29, 2024 | 10:32 am

FULT

Fulton Financial Corporation (FULT) has initiated an underwritten public offering of its common stock, with Piper Sandler and BofA Securities as joint book-running managers. The offering includes a 30-day option for underwriters to purchase additional shares. Proceeds will be used for general corporate purposes and to support business strategy following the acquisition of Republic First Bank assets and liabilities.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:28 am

APO

BX

Blackstone Inc (NYSE:BX) has won the bid to acquire Hipgnosis Songs Fund for $1.57 billion, outbidding Apollo Global Management (NYSE:APO) and expanding its music rights portfolio. The deal, facilitated through Lyra Bidco Limited, a company owned by Blackstone's advised funds, values Hipgnosis at $1.30 per share, higher than Concord's $1.25 offer. This acquisition adds over 65,000 songs from artists like Shakira and Neil Young to Blackstone's collection, further establishing its position in the music rights industry.

Portfolio Pulse from Shivani Kumaresan

April 29, 2024 | 10:27 am

DPZ

Domino's Pizza (NYSE:DPZ) reported Q1 2024 earnings of $3.58 per share, surpassing the $3.42 estimate, and sales of $1.085B, exceeding the $1.079B estimate. This represents a 22.18% increase in earnings and a 5.96% increase in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:08 am

COIN

HC Wainwright & Co. analyst Mike Colonnese maintains a Buy rating on Coinbase Global (NASDAQ:COIN) and raises the price target from $250 to $300.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:06 am

RVTY

Revvity has reaffirmed its 2024 adjusted EPS guidance in the range of $4.55-$4.75, aligning with the consensus estimate of $4.65. Additionally, the company maintains its organic growth guidance of 1-3%.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:06 am

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) is advising its shareholders to recall their shares from brokerage firms to prevent them from being lent out for short selling. The company emphasizes the importance of shareholders holding their shares in a cash account, opting out of securities lending programs, or transferring them to a Direct Registration System account with Odyssey Transfer & Trust Company to support TMTG's mission against Big Tech censorship.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:06 am

BBVA

BBVA reported Q1 2024 adjusted EPS of $0.40, surpassing the $0.35 estimate, marking a 14.86% beat and a 29.68% increase YoY. Sales reached $8.925B, up 19.51% from $7.468B YoY.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:05 am

ARLP

Alliance Resource Partners has reaffirmed its full-year guidance, indicating that operations are proceeding as anticipated year-to-date and that its order book is well-contracted.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:04 am

PROV

Provident Financial Holdings (NASDAQ:PROV) reported Q3 2024 earnings of $0.22 per share, missing the consensus estimate of $0.23, and sales of $9.407M, below the $9.73M estimate. This represents a 33.33% decrease in earnings and a 9.39% decrease in sales from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 10:03 am