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TSLA

A Delaware judge ruled Elon Musk's $56 billion pay package from Tesla (TSLA) excessive, causing Tesla's stock to drop 25%. The ruling could reduce Musk's stake in Tesla to 13% and has added uncertainty to Tesla's stock value, which already suffered an 8% decline after Q4 earnings missed expectations. Tesla's stock faces further challenges, with immediate 2% drop following the legal ruling.

Portfolio Pulse from Zaheer Anwari

February 01, 2024 | 3:12 pm

LCID

Lucid Group Inc (NASDAQ:LCID) shares have increased by over 30% in the last week, with a 27% rally at the start of the week alongside other EV stocks recovering from recent declines. The rally is attributed to a new partnership with Ma'aden Rolling for aluminum sheets for its U.S. factories and the appointment of Matt Everitt as General Counsel. Other EV makers like Nio, XPeng, and Li Auto reported strong January deliveries, contributing to the sector's momentum. Lucid does not pay dividends but engages in other value-returning activities.

Portfolio Pulse from Adam Eckert

February 01, 2024 | 3:11 pm

NRBO

NeuroBo Pharmaceuticals, Inc. (NASDAQ:NRBO) shares surged after the FDA cleared its IND application for DA-1726, a novel obesity treatment. The company plans to start a Phase 1 clinical trial in the first half of 2024. DA-1726, a dual oxyntomodulin analog agonist, showed superior weight loss in mouse models compared to existing treatments. NeuroBo's stock soared 41% on heavy trading volume, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

February 01, 2024 | 3:08 pm

NRBO

NeuroBo Pharmaceuticals' shares surged following the FDA's clearance of the IND for a Phase 1 clinical trial of DA-1726, aimed at treating obesity.

Portfolio Pulse from Benzinga Newsdesk

February 01, 2024 | 3:06 pm

CMC

VALE

Commercial Metals (NYSE:CMC) announces a dividend payout of $0.16 per share with an annualized yield of 1.31%, indicating a steady return to shareholders. The company has shown consistent dividend growth from $0.48 in 2020 to $0.64 in 2023, alongside an increase in earnings per share from $2.64 in 2020 to $7.39 in 2023. This financial health suggests the potential for sustained dividend distributions. Vale (NYSE:VALE) leads the industry with a 9.25% annualized dividend yield.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:05 pm

WEC

WEC Energy Group (NYSE:WEC) reported Q4 earnings, beating estimates with an EPS of $1.1 against the expected $1.08 but saw a revenue decline of $340 million from the previous year. The company has consistently beaten EPS estimates in the past year and provided an FY 2023 earnings guidance of $4.58 to $4.62 per share.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:05 pm

RNDRUSD

Cryptocurrency Render (RNDR) experienced a 5.24% increase in price over the last 24 hours, reaching $4.72. This rise is part of a larger trend, with a 27.0% gain over the past week from $3.7. The coin's all-time high is $8.78. Render's trading volume has surged by 161.0% in the same period, with its circulating supply now at 376.15 million, approximately 70.83% of its maximum supply of 531.04 million. Currently, RNDR's market cap ranks it 49th at $1.77 billion.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:04 pm

SEIUSD

Cryptocurrency Sei (CRYPTO: SEI) experienced a 6.76% price drop in the last 24 hours, contrasting with a 6.0% gain over the past week. Its trading volume increased by 48.0%, while the circulating supply slightly decreased by 0.02%. Currently, Sei's market cap ranks #50, valued at $1.55 billion.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:02 pm

VALE

Investors have shown a significant interest in Vale (NYSE:VALE) options, with an unusual volume of trades indicating a split sentiment, half bullish and half bearish. The options activity suggests an expected price window of $13.0 to $14.0 for Vale. The company, a global miner and the world's largest producer of iron ore and pellets, is focusing on its core assets and is expected to separate its base metals and iron ore businesses by early 2024. Currently, Vale's stock is slightly down with an RSI indicating it may be oversold, and its next earnings report is due in 14 days.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:02 pm

WT

WisdomTree (NYSE:WT) is scheduled to release its quarterly earnings report on February 2, 2024, with analysts expecting an EPS of $0.10. The company's past earnings performance shows mixed results, with the last quarter meeting EPS estimates but resulting in a 0.0% share price change the following day. Historical data reveals fluctuations in share price post-earnings announcement, with a general trend of share price drops following earnings misses. Shares of WisdomTree have increased by 16.98% over the last 52 weeks, indicating a positive outlook from long-term shareholders ahead of the earnings release.

Portfolio Pulse from Benzinga Insights

February 01, 2024 | 3:02 pm