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TSLA

Tesla Inc (NASDAQ:TSLA) CEO Elon Musk announced plans to roll out three significant improvements to its Full Self Driving (FSD) software every two weeks, aiming for a substantial enhancement by late April or early May. The FSD software, still in beta and requiring driver supervision, recently saw the release of version 12.3, receiving positive feedback. Musk highlighted improved training compute constraints as a factor enabling quicker updates. Despite Musk's emphasis on vehicle autonomy as a key value driver for Tesla, he acknowledged that widespread autonomous driving might take a decade.

Portfolio Pulse from Anan Ashraf

March 19, 2024 | 7:05 am

FFND

NVDA

Nvidia Corp. (NASDAQ:NVDA) shares fell after-hours following the GTC 2024 keynote by CEO Jensen Huang, despite positive analyst feedback on the new AI chip unveilings. KeyBanc Capital Markets analyst John Vinh praised the introduction of the next-gen GPU architecture Blackwell - B100 and B200 GPUs, and the next-gen CPU+GPU super chip GB200, maintaining an Overweight rating and a $1,100 price target for Nvidia. Future Fund Managing Partner Gary Black described the stock's drop as a 'classic sell the news' scenario, highlighting the Blackwell B200 GPU's performance, which is up to 30 times faster than its predecessor, the H100 chip. The Future Fund Active ETF (NYSE:FFND) holds Nvidia as its third-biggest portfolio stock.

Portfolio Pulse from Shanthi Rexaline

March 19, 2024 | 7:01 am

EGRNQ

China's Evergrande Group (OTC:EGRNQ) faces a $78 billion fraud accusation, with its founder Hui Ka Yan in legal peril. The company's onshore unit, Hengda, was fined $581 million by the China Securities Regulatory Commission for inflating revenue leading up to its 2020 default. This situation highlights the severity of China's real estate crisis and its impact on the economy, amid broader economic challenges and recent industrial growth.

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 6:58 am

AAPL

CAL

CTRN

GOOG

GOOGL

SAIC

U.S. stocks closed higher on Monday, with the S&P 500 ending a three-session losing streak ahead of the Federal Reserve's two-day policy meeting. The CNN Money Fear and Greed index indicated a slight decline in market sentiment but remained in the 'Greed' zone. Alphabet Inc. shares rose over 4% following reports of discussions with Apple to integrate Google Gemini into the iPhone. Science Applications International Corp shares fell about 10% after its Q4 results. The NAHB/Wells Fargo Housing Market Index reached its highest in eight months, and most S&P 500 sectors saw gains, except healthcare and real estate. Investors are looking forward to earnings results from Citi Trends, Caleres, and Core & Main.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 6:56 am

PGTI

PGT Innovations, Inc. (PGTI) stockholders approved a merger agreement with MIWD Holding Company LLC (MITER Brands), where MITER Brands will acquire all outstanding shares of PGTI for $42.00 per share in cash. The deal, partly financed by Koch Equity Development LLC, is expected to close later this month, resulting in PGTI becoming a privately held company.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 6:46 am

FFND

TSLA

Gary Black, Future Fund Managing Partner, suggests Tesla Inc (TSLA) should report AI revenue and profit as a separate segment in its earnings to highlight its AI initiatives, potentially enhancing its valuation. He estimates FSD revenue at $1B, a fraction of Tesla's total revenue, but believes a dedicated AI segment could attract more investor interest. Additionally, Black comments on Tesla's recent stock price increase, attributing it to announced price hikes for the Model Y in the U.S. and Europe, rather than just the new FSD version, suggesting this could improve Tesla's earnings and margins.

Portfolio Pulse from Anan Ashraf

March 19, 2024 | 6:22 am

TSLA

Mark Cuban questioned Donald Trump's claims about a 'bloodbath' in the U.S. auto industry, pointing out discrepancies and highlighting potential benefits for Tesla due to the Biden administration's consideration of tariffs on EVs made in China. Trump's comments, which included a call for a 100% tariff on foreign-made cars, have sparked controversy and received mixed reactions from political figures and industry leaders.

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 6:16 am

CNM

Core & Main, Inc. (NYSE:CNM) is set to release its Q4 earnings on March 19, 2024, with expectations to report earnings of 35 cents per share and quarterly revenue of $1.43 billion, showing growth from the previous year. The company recently acquired NW Geosynthetics Inc. (ACF West Inc.). Analysts from Loop Capital, Citigroup, Goldman Sachs, Truist Securities, and Barclays have provided updates on their ratings and price targets for CNM, reflecting a generally positive outlook.

Portfolio Pulse from Avi Kapoor

March 19, 2024 | 5:43 am

COIN

MRNA

TWLO

Cathie Wood's Ark Invest sold shares of Coinbase (COIN) and Block Inc (SQ), despite recent cryptocurrency market highs. Ark offloaded $7.3 million worth of Coinbase shares through ARKK and $8.95 million in Block shares through ARKK and ARKW. The sales occurred amidst a backdrop of Bitcoin and Ethereum's price adjustments after a period of significant gains. Additionally, Ark Invest made other key trades, including purchasing Moderna (MRNA) shares, selling Twilio (TWLO) shares, and increasing its stake in Unity Software (U).

Portfolio Pulse from Benzinga Neuro

March 19, 2024 | 5:23 am

JOYY Inc. (NASDAQ:YY) reported Q4 adjusted EPS of $1.01, surpassing the $0.77 estimate, marking a 31.17% beat and a 55.38% increase from last year's $0.65. Q4 sales reached $569.84M, exceeding the $558.30M estimate by 2.07%, despite a 2.88% decrease from last year's $586.73M.

Portfolio Pulse from Benzinga Newsdesk

March 19, 2024 | 4:56 am