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Stock Prices

WSM

Loop Capital analyst Anthony Chukumba downgrades Williams-Sonoma (WSM) from Buy to Hold and sets a new price target of $220.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 11:01 am

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, expressed concerns over Tesla's falling earnings despite increased sales of Cybertrucks and overall vehicles. He highlighted the need for Tesla to address the decline in earnings amidst high sales volumes. Gerber also noted that Tesla is being valued more as a hardware company due to intense competition in China and its failure to achieve autonomous driving. Tesla's stock dropped over 7% following a reported decline in vehicle sales in China for February.

Portfolio Pulse from Anan Ashraf

March 05, 2024 | 10:59 am

ARKW

NVDA

TSM

Cathie Wood's Ark Invest has been selling Nvidia (NVDA) shares due to valuation concerns but purchased $4M in Taiwan Semiconductor Manufacturing Company (TSM) shares, a key Nvidia supplier. The purchase by ARK Next Generation Internet ETF (ARKW) reflects confidence in TSM's growth prospects, despite a recent slight premarket trading dip.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 10:43 am

AROW

BHLB

Arrow Financial Corporation (NASDAQ:AROW) has acquired a Berkshire Bank branch in Whitehall, New York, from Berkshire Hills Bancorp, Inc. (NYSE:BHLB). The acquisition is part of a deal where Berkshire Bank is selling 10 of its branches in upstate and eastern New York. This sale reduces Berkshire Hills' branch footprint from 96 to 86 locations. All employees of the Whitehall branch will be offered positions within the Arrow Family of Companies, with the sale expected to complete by the end of Q3 2024. Following the sale, Glens Falls National Bank, a subsidiary of Arrow Financial, will operate nine branches in Washington County.

Portfolio Pulse from Nabaparna Bhattacharya

March 05, 2024 | 10:41 am

BTCUSD

HAIUSD

Hacken (CRYPTO: HAI), a blockchain security-focused token, experienced a 50% rally in a week, attributed to its new initiative in Real-World Asset (RWA) tokenization. The company announced that HAI token holders could now convert their utility tokens to equity tokens, offering a direct equity stake in Hacken Enterprise. This move coincides with a broader market optimism and a rally in Bitcoin's (CRYPTO: BTC) price. Hacken's approach to tokenization, which allows for the digitization of various assets on the blockchain, aligns with the industry's growing interest in this technology, as highlighted by BlackRock CEO Larry Fink.

Portfolio Pulse from Mehab Qureshi

March 05, 2024 | 10:16 am

TSLA

Tesla's Gruenheide, Germany manufacturing site temporarily halted production due to a power cut caused by a suspected arson attack. The incident may impact Tesla's production capabilities in the short term.

Portfolio Pulse from Charles Gross

March 05, 2024 | 10:13 am

NIO

NIO Inc. reported a 25.0% year-over-year increase in Q4 vehicle deliveries, totaling 50,045 units, despite a 9.7% decrease from the previous quarter. The deliveries included 33,679 premium smart electric SUVs and 16,366 sedans.

Portfolio Pulse from Benzinga Newsdesk

March 05, 2024 | 10:04 am

ALB

CLSK

FUFU

GTLB

MARA

MSTR

SEMR

SFIX

SMCI

GitLab Inc. (GTLB) shares fell 22.4% in pre-market trading after issuing a weak earnings forecast for FY25, below analyst expectations. Other stocks such as Stitch Fix (SFIX), Semrush Holdings (SEMR), MicroStrategy (MSTR), Ethereal Tech (FUFU), CleanSpark (CLSK), Albemarle Corporation (ALB), Marathon Digital Holdings (MARA), and Super Micro Computer (SMCI) also recorded losses in pre-market trading due to various factors including disappointing financial results, proposed offerings, and market volatility.

Portfolio Pulse from Avi Kapoor

March 05, 2024 | 10:00 am

TSLA

Gordon Johnson of GLJ Research questions the high valuation of Tesla's energy storage business compared to its electric-vehicle manufacturing downturn. He highlights the discrepancy in valuation multiples between Tesla and global battery leaders like LG Chem, suggesting Tesla's energy segment is overvalued. Johnson also criticizes Tesla's in-house 4680 battery cells as a 'manufacturing disaster.' Tesla's stock experienced a 7% drop, attributed to weakening EV demand and competition, with analysts predicting another quarter of subpar performance.

Portfolio Pulse from Shanthi Rexaline

March 05, 2024 | 9:44 am

NIO

TSLA

Nio Inc's sub-brand Alps is set to launch its first model, an electric vehicle touted as 'better than Tesla's Model Y,' according to new spy shots. The vehicle, expected to be a mid-size SUV with features like battery swap and faster charging, aims to be cheaper than the Model Y. The model is scheduled for launch in October. Tesla's Model Y was the best-selling vehicle worldwide in 2023, with significant sales in China. Nio is expected to report a Q4 loss of 51 cents per share, following a Q3 net loss of 37 cents per share.

Portfolio Pulse from Anan Ashraf

March 05, 2024 | 8:40 am