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HTZ

Hertz Global Holdings' ambitious plan to revolutionize the car rental industry with a 100,000 Tesla EV fleet faced significant setbacks due to high repair costs, frequent accidents, and customer charging anxiety. The company's strategy, which also included a nationwide charging network and partnerships with Uber, was undermined by Tesla price cuts, leading to a devaluation of Hertz's EV fleet. Operational challenges and leadership disagreements further complicated the situation, prompting Hertz to shift focus back to gas-powered vehicles and seek new leadership with operational expertise.

Portfolio Pulse from Ramakrishnan M

April 05, 2024 | 11:24 am

ROIC

B of A Securities analyst Craig Schmidt downgraded Retail Opportunity (NASDAQ:ROIC) from Neutral to Underperform and reduced the price target from $14.5 to $12.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:23 am

LCID

NKLA

RIVN

TSLA

Nikola Corp (NKLA) has seen a 14.46% YTD gain, outperforming other EV makers like Tesla, Rivian, and Lucid, despite facing challenges such as vehicle recalls and executive changes. The company's focus on hydrogen fuel cell electric trucks and the anticipated return of its BEVs contribute to its stock's positive trend. In contrast, Tesla, Rivian, and Lucid have experienced significant YTD losses, while traditional automakers like General Motors and Ford have seen their stock prices rise.

Portfolio Pulse from Anan Ashraf

April 05, 2024 | 11:23 am

AMZN

ONLN

XLY

Amazon is resuming construction of a 42-story office tower in Bellevue, signaling a shift towards a hybrid work model. The company plans to accommodate over 4,500 employees in the tower, named 'Sonic', and aims to employ 25,000 workers in Bellevue. This move comes as Amazon seeks to reduce its office vacancy rate from 33.8% to 10% by 2029, amidst a broader trend of workforce and office space reduction in the tech industry. Amazon's stock has seen a significant increase, and its performance can impact related ETFs like SPDR Select Sector Fund – Consumer Discretionary (XLY) and ProShares Online Retail ETF (ONLN).

Portfolio Pulse from Anusuya Lahiri

April 05, 2024 | 11:21 am

TDOC

Teladoc shares are trading lower following the announcement that CEO Jason Gorevic will depart from the company.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:20 am

BDSX

Biodesix has announced an underwritten offering of 17.4 million shares at $1.15 per share and a concurrent private placement of 760,857 shares of Series A Non-voting Convertible Preferred Stock at $46 per share, aiming for gross proceeds of $55 million. Subject to stockholder approval, each preferred share will convert to 40 common shares, totaling 30,434,280 common shares.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:20 am

KIM

B of A Securities analyst Jeffrey Spector downgraded Kimco Realty (KIM) from Buy to Neutral and reduced the price target from $24 to $20.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:19 am

OCGN

Ocugen's stock price increased following the announcement that the Data and Safety Monitoring Board approved proceeding with the medium dose of OCU410 in the Phase 1/2 ArMaDa clinical trial's dose-escalation phase.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:18 am

AKR

B of A Securities analyst Craig Schmidt upgraded Acadia Realty Trust (AKR) from Neutral to Buy and increased the price target from $18 to $20.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:15 am

GRIN

Grindrod Shipping Holdings' stock price increased following the announcement of a selective capital reduction. This financial maneuver is expected to positively impact the company's financial structure and potentially return value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 11:13 am