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TECK

Teck Resources (NYSE:TECK) reported Q4 adjusted earnings of $1.03 per share, surpassing the $1.00 estimate, and sales of $3.02B, slightly above the $3.01B estimate. This represents a significant increase from the previous year's earnings and sales.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 7:01 am

FFND

TSLA

Gary Black of Future Fund admitted he has been wrong about Tesla (TSLA) for three years, citing the stock's underperformance and his misjudgment on its volume growth and earnings power due to price cuts and a delayed affordable model. Despite these setbacks, he remains bullish on Tesla, expecting its stock to reach a $290 price target based on the assumption that other EV makers will reduce their investments.

Portfolio Pulse from Shanthi Rexaline

February 22, 2024 | 6:40 am

BORR

Borr Drilling (NYSE:BORR) reported Q4 earnings of $0.11 per share, surpassing the $0.07 estimate, marking a 222.22% increase from last year. Sales reached $220.60M, beating the $204.67M estimate, a 48.45% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 6:36 am

TK

Teekay Corporation (NYSE:TK) reported a decrease in Q4 adjusted EPS to $0.35 from $0.44 YoY and a sales decline to $339.19M from $393.48M YoY, indicating a 20.45% decrease in earnings and a 13.80% decrease in sales.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 6:32 am

BA

Boeing Co (NYSE:BA) is undergoing a leadership change in its 737 Max program following a recent incident where a door panel blew out during an Alaska Airlines flight. Ed Clark, the current head, will be replaced by Katie Ringgold, with Elizabeth Lund taking a new senior VP of quality role. This comes amid a series of challenges for Boeing, including quality issues, delivery delays, and intensified FAA inspections.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 6:16 am

LCID

RIVN

Elon Musk criticized Lucid Group Inc (LCID) and Rivian Automotive Inc (RIVN) following their quarterly earnings reports. Musk highlighted Lucid's reliance on Saudi Arabia's Public Investment Fund (PIF) for financial support, referring to it as 'Saudi sugar daddy' and commented on Lucid's market cap being significantly lower than Tesla's. He also warned that Rivian might face bankruptcy within six quarters due to its current trajectory, despite acknowledging the company's decent product design. Both companies reported losses for the fourth quarter, with Lucid missing revenue estimates and Rivian reporting a significant per-vehicle loss.

Portfolio Pulse from Anan Ashraf

February 22, 2024 | 6:10 am

GOOGL

Google (NASDAQ:GOOGL) is set to start manufacturing its Pixel smartphones in India, beginning with the Pixel 8 Pro in Southern India and the Pixel 8 in Northern India. This move aims to diversify its supply chain and tap into the Indian market, following a trend among tech companies like Apple and Samsung. The decision reflects a shift from manufacturing in Vietnam due to US-China tensions and aligns with the 'China+2' strategy for supply chain resilience.

Portfolio Pulse from Shomik Sen Bhattacharjee

February 22, 2024 | 6:07 am

ADAUSD

BTCUSD

ETHUSD

Arthur Hayes, co-founder of BitMex and a Bitcoin supporter, criticized the utility of dApps within the Cardano ecosystem, calling ADA 'dog sh*t'. He challenged the Cardano community to name heavily used dApps that launched on Cardano. Charles Hoskinson, Cardano's co-founder, was tagged in Hayes' comments but responded without addressing the challenge directly. Hayes has previously described Cardano as a 'wannabe Ethereum'. Despite growth, Cardano's DeFi sector remains modest with a TVL of $460 million.

Portfolio Pulse from Mehab Qureshi

February 22, 2024 | 5:59 am

ACHR

ARKF

ARKK

COIN

SOFI

TXG

U

Ark Invest, led by Cathie Wood, sold $6.6M worth of Coinbase (COIN) shares as the crypto exchange experienced a significant Bitcoin (BTC) withdrawal, leaving it with its lowest reserve since 2015. The sale occurred through ARKK and ARKF ETFs. Despite this, Coinbase's Q4 earnings exceeded expectations. Ark also made notable investments in SOFI, TXG, U, and ACHR, indicating a bullish stance on these companies.

Portfolio Pulse from Benzinga Neuro

February 22, 2024 | 5:52 am

SJW

SJW Group reported Q4 2023 earnings of $0.59 per share, surpassing the consensus estimate of $0.57. Quarterly sales reached $171.34M, exceeding the $161.00M estimate but marking a slight decrease from $171.37M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

February 22, 2024 | 5:37 am