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TTWO

Take-Two Interactive Software, Inc. (NASDAQ:TTWO) announced a workforce reduction of 5% as part of a cost reduction program, aiming to enhance its margin profile while still investing for growth. The company expects to incur $160 million to $200 million in total charges related to this plan, which includes costs for title cancellations, employee severance, and office space reductions. The plan is expected to be complete by December 31. Grand Theft Auto VI, anticipated for release in 2025, is expected to be one of the highest-grossing media products. TTWO stock has gained over 16% in the past year and is trading higher by 0.39% to $146.00 premarket.

Portfolio Pulse from Nabaparna Bhattacharya

April 17, 2024 | 10:10 am

MRNS

RBC Capital analyst Brian Abrahams downgraded Marinus Pharma (MRNS) from Outperform to Sector Perform and significantly reduced the price target from $24 to $3, indicating a bearish outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 9:39 am

TSLA

CANACCORD Genuity analyst George Gianarikas reaffirmed a bullish stance on Tesla, Inc. (NASDAQ:TSLA), despite recent challenges including a first-quarter deliveries miss, layoffs, and key personnel departures. Gianarikas highlighted supply and demand issues, the importance of the upcoming robotaxi reveal, and the company's efforts to streamline sales and delivery systems. CANACCORD maintained a Buy rating with a $234 price target, suggesting a 49% stock appreciation. Tesla's strategy includes stopping discounts, launching a sub-$30,000 EV, and improving communication and efficiency.

Portfolio Pulse from Shanthi Rexaline

April 17, 2024 | 8:51 am

ASML

ASML shares are trading higher despite the company reporting worse-than-expected Q1 results and issuing Q2 guidance.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 8:11 am

TSLA

Tesla, Inc. (NASDAQ:TSLA) CEO Elon Musk announced the removal of inventory discounts on Tesla cars in the U.S. to simplify the company's sales system, which he described as 'complex and inefficient'. This change excludes demo or used vehicles. The decision follows recent cost-cutting measures, including laying off 14,000 employees (10% of its global workforce) and the departure of senior executives Drew Baglino and Rohan Patel. Despite these changes, Tesla has avoided price cuts in the U.S. since early 2024, except for a temporary reduction on select Model Y versions in February. Recently, Tesla raised prices on all Model Y versions by up to $1,000.

Portfolio Pulse from Anan Ashraf

April 17, 2024 | 7:53 am

IEF

SPY

Federal Reserve Chair Jerome Powell indicated a need for a prolonged period of restrictive monetary policy, suggesting the central bank's 'higher for longer' interest rate stance remains unchanged. Economists and analysts, including Peter Schiff and Jamie Cox, provided mixed reactions, with some advocating for rate hikes due to inflation concerns, while others highlighted the strong labor market and consumer spending. The bond market reacted, with the 10-year bond yield nearing 4.7%, and major index futures trading lower. The iShares 7-10 Year Treasury Bond ETF (IEF) and the SPDR S&P 500 ETF Trust (SPY) both saw declines in their last session.

Portfolio Pulse from Shanthi Rexaline

April 17, 2024 | 7:25 am

BTCUSD

ETHUSD

Amid geopolitical tensions and market volatility, crypto trader Alex Krüger advises a long-term perspective on Bitcoin and Ethereum, cautioning against short-term trading. Despite recent downturns, Krüger remains optimistic about the crypto market's future, highlighting the importance of a broader view amidst the volatile nature of cryptocurrencies.

Portfolio Pulse from Benzinga Neuro

April 17, 2024 | 7:06 am

F

Ford Motor Co. celebrates the 60th anniversary of the Mustang, highlighting its enduring popularity and evolution. The Mustang, debuting in 1964, has sold millions and remains a cultural icon. In 2023, U.S. sales of the Mustang increased by 2.2%, with the electric Mustang Mach-E also seeing a sales jump. The first quarter of 2024 saw a shift with a decrease in gas-powered Mustang sales but a significant increase in Mach-E sales. Ford introduces a range of nine Mustang variants for 2024, including the competitively priced Mustang Mach-E.

Portfolio Pulse from Anan Ashraf

April 17, 2024 | 6:23 am

TCRX

TScan Therapeutics has announced an upsized public offering of 2,472,581 shares at $7.13 each, matching its closing price on Nasdaq on April 16, 2024. Additionally, pre-funded warrants for 18,577,419 shares are offered at $7.1299 each.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 6:13 am

TRV

The Travelers Companies, Inc. (TRV) is anticipated to report higher Q1 earnings with an expected EPS of $4.90, up from $4.11 year-over-year, and revenue forecasted at $10.51 billion versus $9.4 billion. Following record Q4 earnings, TRV's stock rose 0.9% to $223.12. Analysts from Citigroup, Piper Sandler, UBS, Raymond James, and RBC Capital have updated their ratings and price targets, reflecting a mix of Neutral and Strong Buy positions.

Portfolio Pulse from Avi Kapoor

April 17, 2024 | 6:13 am