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PLD

BMO Capital analyst John Kim downgraded Prologis (NYSE:PLD) from Outperform to Market Perform and reduced the price target from $145 to $112.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:41 am

BYDDY

TSLA

BYD Co, backed by Warren Buffett, announced its electric pickup truck named BYD Shark, featuring a plug-in hybrid system. This marks BYD's entry into the electric pickup market, competing with Tesla's Cybertruck. The Shark is set to launch this year, targeting the global market without specific plans for the U.S., where Tesla has begun Cybertruck deliveries. Despite BYD overtaking Tesla in EV sales volume in the last quarter of 2023, the two companies' trucks differ in fuel technology and market focus.

Portfolio Pulse from Anan Ashraf

April 22, 2024 | 9:41 am

CSLR

RIOT

VAXX

Riot Platforms, Inc. (RIOT) shares rose by 5.3% in pre-market trading, influenced by a 1.5% increase in Bitcoin prices. Other stocks also showed significant movement in pre-market trading, with notable gainers including Complete Solaria, Inc. (CSLR) and The OLB Group, Inc. (OLB), among others. Conversely, Vaxxinity, Inc. (VAXX) and Mingteng International Corporation Inc. (MTEN) were among the pre-market losers.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 9:23 am

AA

Morgan Stanley analyst Carlos De Alba upgraded Alcoa (NYSE:AA) from Underweight to Equal-Weight and increased the price target from $28.5 to $36.5.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 9:17 am

TSLA

Tesla Inc has reduced the price of its Full Self-Driving (FSD) software to $8,000, a 33% cut from the previous $12,000, and nearly 50% down from the $15,000 price less than a year ago when CEO Elon Musk deemed it 'very low'. This follows a reduction in the monthly subscription fee from $199 to $99, aiming to increase the software's take rate by having more vehicles equipped with it on the roads. As of March 2024, FSD is deployed on about 2 million vehicles in the U.S., with Tesla's cars having driven one billion miles using FSD, up from less than 800 million at the end of 2023.

Portfolio Pulse from Anan Ashraf

April 22, 2024 | 8:12 am

AAPL

HOOD

ICE

NVDA

The New York Stock Exchange (NYSE), part of Intercontinental Exchange (NYSE:ICE), is exploring the possibility of 24/7 trading, similar to cryptocurrencies like Bitcoin and Ethereum. This consideration is in response to increased retail investor activity and the continuous trading nature of cryptocurrencies. The NYSE is conducting a survey on this potential shift, while the SEC reviews a 24/7 exchange proposal backed by Steve Cohen's Point72. Companies like Apple Inc (NASDAQ:AAPL) and NVIDIA Corp (NASDAQ:NVDA), along with brokers like Robinhood Markets Inc. (NASDAQ:HOOD), are highlighted in the context of this discussion.

Portfolio Pulse from Benzinga Neuro

April 22, 2024 | 7:43 am

META

In 2006, Mark Zuckerberg declined offers to sell Facebook, now Meta Platforms Inc. (NASDAQ:META), for up to $900 million. In a recent interview, Zuckerberg discussed his thought process at the time, revealing he lacked the financial sophistication to evaluate such deals and was more focused on what he personally wanted to achieve with the company. Despite not having a specific sell price in mind, he suggested that a hypothetical $5 trillion offer might have swayed him, but ultimately, his passion for building the company outweighed the appeal of selling.

Portfolio Pulse from Ananya Gairola

April 22, 2024 | 7:37 am

BRO

Brown & Brown, Inc. (NYSE:BRO) is anticipated to report higher Q1 earnings with an expected EPS of $1.05, up from 84 cents year-over-year, and revenue of $1.22 billion, up from $1.07 billion. The company has recently acquired CHAPP and Citrus Insurance assets. Shares rose 1.3% to $82.17 recently. Analysts from Citigroup, Wells Fargo, Keefe, Bruyette & Woods, Raymond James, and Truist Securities have updated their ratings and price targets for BRO, reflecting optimism about its financial performance.

Portfolio Pulse from Avi Kapoor

April 22, 2024 | 7:32 am

NBY

NovaBay Pharmaceuticals has been notified by NYSE American of a compliance issue related to stockholder equity. The company is required to address this issue to maintain its listing.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 7:31 am

ERJ

Embraer reported a 67% year-over-year increase in Q1 deliveries, with its backlog volume reaching $21.1 billion, up 13% from the previous quarter. American Airlines placed a firm order for 90 E175 jets, contributing to a 26% quarter-over-quarter increase in the Commercial Aviation backlog, which rose by $2.3 billion. Additionally, Embraer's Executive Aviation deliveries in Q1 were the highest in the last eight years.

Portfolio Pulse from Benzinga Newsdesk

April 22, 2024 | 7:25 am