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STVN

Stevanato Group S.p.A. (NYSE:STVN) has inaugurated a new facility in Cisterna di Latina for the production of advanced pre-sterilized syringes. The plant, which started commercial production in Q4 2023, aims to meet the growing demand in the European biopharmaceutical market. The company plans to expand production to include pre-sterilized cartridges by 2025-2026.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 9:11 am

TSLA

Gary Black, Managing Partner at The Future Fund LLC, warns that there is a 'fair chance' Elon Musk will leave Tesla if shareholders vote against his 2018 compensation package in the 2024 proxy vote. Black argues that Musk's departure could lead to a talent drain and hinder Tesla's progress in achieving unsupervised autonomy. The compensation package, valued at $56 billion, was overturned by a Delaware court earlier this year, and Tesla's board is seeking to reinstate it through a shareholder vote in June.

Portfolio Pulse from Benzinga Neuro

May 30, 2024 | 9:11 am

PLTR

Palantir Technologies (NYSE:PLTR) has secured a $480 million contract with the U.S. Army for the Maven Smart System prototype, boosting its premarket stock price despite a recent sell call from Jim Cramer. The contract highlights Palantir's growing role in AI and data analytics for government applications.

Portfolio Pulse from Shanthi Rexaline

May 30, 2024 | 9:02 am

TSLA

Columbia Law Professor Eric Talley, who holds a small stake in Tesla, Inc. (NASDAQ:TSLA), expressed his inclination to vote against Elon Musk's 2018 pay package at the upcoming shareholder meeting. Talley cited concerns over Tesla's thinning margins, increasing competition from China, and political uncertainties. Proxy advisory firm Glass Lewis also advised against the pay plan, and Musk reacted negatively. The outcome of the vote could influence Musk's focus on Tesla or his other ventures.

Portfolio Pulse from Shanthi Rexaline

May 30, 2024 | 8:49 am

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