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GM

RIVN

STLA

TSLA

Legacy automakers Stellantis and General Motors are planning to introduce more affordable electric vehicles in the U.S. to counter the growing threat from Chinese EV manufacturers. Stellantis aims to launch a $25,000 electric Jeep, while GM plans to reintroduce the Chevrolet Bolt by 2025. This move is driven by the increasing competition from Chinese and South Korean automakers.

Portfolio Pulse from Anan Ashraf

May 30, 2024 | 7:30 am

TWLV

Twelve Seas Investment Company II has received a notice from Nasdaq for the late filing of its quarterly report.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 7:28 am

META

Meta Platforms' AI chief Yann LeCun suggested that Elon Musk could use a new paper from Meta's FAIR team to improve xAI's Grok. The paper introduces CoPE, a new positional encoding method for transformers. This comes amidst an ongoing feud between LeCun and Musk, who recently secured $6 billion in Series B funding for xAI.

Portfolio Pulse from Ananya Gairola

May 30, 2024 | 7:21 am

GIL

Gildan Activewear has received approval from the Toronto Stock Exchange to amend its Normal Course Issuer Bid (NCIB) to repurchase up to 10% of its public float, or approximately 17.12 million common shares. This is an increase from the previous limit of 5%.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 7:19 am

DIS

Activist investor Nelson Peltz has sold his entire $1 billion stake in Disney after losing a proxy battle. Peltz had been critical of Disney's governance and streaming strategy. Disney's stock closed 1.52% lower following the news.

Portfolio Pulse from Benzinga Neuro

May 30, 2024 | 7:07 am

MNST

Monster Beverage Corporation (NASDAQ:MNST) has amended its Dutch auction tender offer to repurchase up to $3 billion of its common stock, waiving the financing condition. The offer will expire on June 5, 2024, unless extended or terminated earlier.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 7:03 am

BTCUSD

DOGEUSD

ETHUSD

Telegram-linked Notcoin (NOT) and Sam Altman-founded Worldcoin (WLD) saw significant gains, outperforming major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and Dogecoin (DOGE) on a weak market day. NOT's value more than doubled over the week, while WLD snapped a losing streak despite facing privacy concerns.

Portfolio Pulse from Aniket Verma

May 30, 2024 | 6:19 am

MRUS

Merus has priced an upsized public offering of 7.55 million common shares at $53 per share, expecting to raise approximately $400.2 million in gross proceeds.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:15 am

HESM

Hess Midstream (HESM) has priced a secondary public offering of 10 million Class A shares. The company will not receive any proceeds from this sale. The offering is expected to close on May 31, 2024, subject to customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 6:10 am

BBY

CRM

DELL

DG

HPQ

U.S. stock futures are trading lower this morning. Key stocks to watch include Best Buy, Salesforce, Dollar General, HP Inc., and Dell Technologies. Best Buy is expected to report earnings of $1.08 per share on $8.96 billion revenue. Salesforce reported strong Q1 earnings but issued weak Q2 guidance, causing a 16% drop in after-hours trading. Dollar General is expected to post earnings of $1.57 per share on $9.90 billion revenue. HP Inc. posted strong Q2 results and raised FY23 earnings guidance, leading to a 2.1% increase in after-hours trading. Dell Technologies is expected to report earnings of $1.26 per share on $21.67 billion revenue.

Portfolio Pulse from Avi Kapoor

May 30, 2024 | 6:01 am