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AAPL

Tesla investor Ross Gerber praised Apple Inc.'s decision to halt its electric vehicle (EV) project in favor of focusing on its artificial intelligence initiative, Vision Pro. Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, expressed his views on CNBC, stating that moving resources to AI was the smartest move for Apple. This decision reflects Apple's strategic shift towards AI, amidst the rapidly evolving EV landscape.

Portfolio Pulse from Benzinga Neuro

February 28, 2024 | 8:13 am

LUNR

Roth MKM maintains a bullish stance on Intuitive Machines (NASDAQ:LUNR) despite its lunar lander, Odysseus, tipping over on the Moon. The firm highlights the lander's operational status and the valuable learnings for future missions, maintaining a 'buy' rating with a $15 price target. Intuitive Machines reported ongoing communication with Odysseus, with potential battery life extending 10-20 more hours. The incident has not deterred investor confidence, as LUNR shares rose 6.9% to close at $6.7 on Tuesday, marking a 184% increase year-to-date.

Portfolio Pulse from Anan Ashraf

February 28, 2024 | 8:06 am

BTCUSD

Sam Bankman-Fried, former FTX CEO, is appealing for a reduced prison sentence of 63-78 months for his non-violent fraud offense, challenging the recommended 100-year term. His defense argues that the victims will recover fully, suggesting no harm was done to customers, lenders, or investors. Meanwhile, Bitcoin's price has risen by 0.93% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

February 28, 2024 | 8:06 am

AAPL

TSLA

Apple, Inc. has reportedly discontinued its self-driving car project, Project Titan, leading to concerns from New Street Research analyst Pierre Ferragu. Ferragu, who is bullish on Tesla, Inc., expressed worries that Tesla might venture into unrelated fields such as smartphone development, referencing Elon Musk's previous comments on potentially creating a smartphone. This development raises questions about tech companies' diversification into the automotive sector, with companies like Sony and Xiaomi making strides in electric vehicles.

Portfolio Pulse from Shanthi Rexaline

February 28, 2024 | 7:54 am

VERU

Veru Inc. has received a notice from Nasdaq due to a delay in filing its quarterly report. This notice is a standard procedure for companies that fail to meet Nasdaq's filing deadlines. The implications of this notice for Veru's stock and investor confidence could be significant, depending on the reasons for the delay and the company's response.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 7:22 am

ALGT

Allegiant reported a decline in January 2024 traffic, with scheduled service passenger traffic down 2.3% YoY and total system declining 2% YoY. Despite a slight increase in available seat miles and average stage length, load factor decreased by 2.5 points.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 7:20 am

AAP

CRM

HPQ

SJM

TJX

Investor sentiment improved as indicated by the CNN Money Fear and Greed index, despite mixed U.S. stock market results. The S&P 500 saw modest gains, while the Dow Jones closed lower. Companies like The J.M. Smucker Company, Macy's Inc, and Zoom Video Communications reported their quarterly results, with Zoom also announcing a stock repurchase program. Economic data showed a decline in durable goods orders but an increase in home prices. Sectors like utilities and communication services led gains in the S&P 500, whereas energy and healthcare sectors fell. Investors are looking forward to earnings results from Salesforce, HP Inc, Advance Auto Parts, and The TJX Companies.

Portfolio Pulse from Avi Kapoor

February 28, 2024 | 7:05 am

SEM

Select Medical announced receiving a favorable IRS private letter ruling regarding the tax-free nature of a potential separation of its Concentra business. This development is a critical step towards possibly spinning off Concentra in a manner that would be tax-free for Select Medical and its shareholders.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:59 am

BYND

CRM

HPQ

SAM

TJX

Ahead of Wednesday's trading, notable movements include TJX Companies expected to report earnings with a slight gain in after-hours trading, Beyond Meat's shares surging on strong sales forecast, Salesforce also anticipated to report earnings with a modest after-hours gain, Boston Beer facing a dip after disappointing results and leadership change, and HP Inc. expected to report earnings with a slight increase in after-hours trading.

Portfolio Pulse from Avi Kapoor

February 28, 2024 | 6:48 am

Diamond Offshore Drilling (NYSE:DO) reported a Q4 adjusted loss of $(1.42) per share, a significant decrease from $(0.52) per share YoY. However, their quarterly sales of $297.64M exceeded the $291.00M estimate, marking a 33.31% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 6:34 am