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GM

General Motors Company (NYSE:GM) is anticipated to report Q4 earnings of $1.16 per share, down from $2.12 per share a year ago, with projected revenue of $38.97 billion, a decrease from $43.11 billion. Cadillac is increasing production of the Lyriq EV. GM's stock closed up 0.3% at $35.28. Analysts have recently adjusted GM's price targets, with the most accurate analysts giving ratings ranging from Buy to Outperform and price targets between $40 and $60.

Portfolio Pulse from Avi Kapoor

January 30, 2024 | 6:56 am

SVM

The NYSE American has approved Silvercorp Metals Inc.'s listing application, which is a significant step forward for the company's proposed acquisition of OreCorp Limited. This approval facilitates the offer by providing Silvercorp with a more prominent platform that could potentially enhance liquidity and investor exposure. The listing on a major U.S. exchange is likely to be viewed positively by investors as it represents a milestone for Silvercorp's growth and expansion strategy.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 6:54 am

HOLI

Hollysys Automation Technologies has rejected a takeover proposal from Dazheng Investment Group due to concerns over financing and instability in the consortium. The Special Committee of Hollysys endorses the deal with Ascendent, challenging the recommendations of proxy advisory firms ISS and Glass Lewis. Hollysys plans to release updated proxy materials detailing recent engagement with Dazheng.

Portfolio Pulse from Benzinga Newsdesk

January 30, 2024 | 6:45 am

XIACY

Xiaomi Corporation's first EV, the Xiaomi SU7, is reported to have a top model priced at approximately $50,350. The pricing details, which range from $35,230 to $50,350 for different variants, are yet to be officially confirmed by Xiaomi. The company is known for its high-quality, affordable smartphones and is now entering the EV market, with the SU7 currently in trial production. Morgan Stanley analysts have a positive outlook on Xiaomi's entry into the EV sector.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 6:26 am

ARVL

Arrival SA (NASDAQ:ARVL), an electric van maker, has received a notice from Nasdaq about the suspension of trading and delisting of its securities. The notice was received on January 26, with the suspension set for January 30. Arrival is in talks with EY for potential administration if it fails to secure rescue funding. The company ended the first half of 2023 with $43 million in cash and a loss of $155.7 million. Its market cap has plummeted to $13.6 million, a stark contrast to its $5.4 billion valuation at its public debut in March 2021. Arrival's stock dropped 33.7% to $0.49 on the day of the announcement.

Portfolio Pulse from Anan Ashraf

January 30, 2024 | 5:57 am

TGT

Several Target Corp. employees were fired for allegedly violating an unwritten rule requiring a 15-minute wait before purchasing merchandise. The rule, meant to give customers priority, was not known to the employees, who were terminated after buying Stanley insulated cups amid a buying frenzy. The cups, part of Target's 'Galentine's Collection,' sold out quickly and gained viral attention on TikTok. Despite the incident, Target is considered a top retail idea for 2024 by Goldman Sachs.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 5:49 am

HMC

STLA

TM

Toyota Motor Corp (NYSE:TM) leads vehicle sales in California, primarily with combustion engine models, registering 278,345 new vehicles in 2021, a 2% increase from the previous year. However, Toyota faces competition in the EV market, with only 3,753 BEV and 10,889 plug-in hybrid registrations. Honda Motor Co (NYSE:HMC) saw a 33.4% increase in registrations, while Stellantis NV's (NYSE:STLA) Jeep Wrangler PHEV outperformed Toyota's RAV4 PHEV. Tesla's Model Y was the best-selling car in California, indicating a strong market shift towards BEVs.

Portfolio Pulse from Anan Ashraf

January 30, 2024 | 5:37 am

BYDDY

TSLA

BYD Co Ltd, backed by Warren Buffett, is preparing for intense competition in China's EV market and is open to collaboration with Tesla Inc. BYD has outperformed Tesla in vehicle production in 2023 and expects tough competition to lead to the elimination of weaker brands within two to three years. BYD's GM of Branding and PR, Yunfei Li, praised Tesla and suggested cooperation to grow the EV market. Tesla's CEO Elon Musk confirmed BYD as a supplier. BYD anticipates being profitable amidst competition and has invested heavily in vehicle intelligence and NEV evolution. The company expects a significant profit increase for the last year, while Tesla saw a 15% gross profit decline in 2023. Berkshire Hathaway has reduced its stake in BYD.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 5:32 am

ARKB

PD

TSLA

TWLO

Cathie Wood's Ark Invest has purchased $3.3 million worth of Tesla Inc (TSLA) shares and $2.8 million worth of ARK 21Shares Bitcoin ETF (ARKB) units. The firm also sold shares of Twilio Inc (TWLO) and PagerDuty Inc (PD). These transactions reflect Ark Invest's strategy of focusing on disruptive innovation and its confidence in Tesla and cryptocurrency, despite recent market challenges and a Q4 earnings miss for Tesla.

Portfolio Pulse from Benzinga Neuro

January 30, 2024 | 3:29 am

RIVN

TSLA

Tesla's Model Y was the best-selling vehicle in California in 2023, with 132,636 new registrations, contributing to Tesla's total of 230,588 new BEV registrations, a 24.6% increase from 2022. Rivian saw the largest increase in new registrations, with 10,297 vehicles registered, a 142.7% jump. The EV market share in California rose to 21.4%, while internal combustion engine market share dropped to 63.9%.

Portfolio Pulse from Anan Ashraf

January 30, 2024 | 3:12 am