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XXII

22nd Century Group Inc (NASDAQ:XXII) stock surged 45% to $2.15 after announcing a new contract manufacturing agreement for conventional cigarette products, expected to increase carton production volumes by over 20% and start generating revenue in Q2 2024. The deal is seen as a significant step towards expanding the company's contract manufacturing business in North Carolina and advancing its VLN® franchise, with aims for revenue scaling, margin improvement, and breakeven operations by Q1 2025.

Portfolio Pulse from Henry Khederian

April 05, 2024 | 3:59 pm

IEF

QQQ

SPY

TLT

UUP

March's U.S. labor market report showed a significant surge in nonfarm payrolls, adding 303,000 jobs and surpassing expectations. This robust growth, alongside a slight decrease in the unemployment rate to 3.8%, has dampened hopes for Federal Reserve rate cuts, with economists highlighting the implications for policy and market reactions. Treasury yields rose, and certain ETFs experienced movements: TLT and IEF fell, while SPY, QQQ, and UUP gained.

Portfolio Pulse from Surbhi Jain

April 05, 2024 | 3:55 pm

TSLA

Tesla shares are trading lower after a report indicated the company has scrapped plans for a low-cost vehicle due to competition in China. However, CEO Elon Musk has denied these claims on social media.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 3:52 pm

TSLA

VCR

Tesla, Inc. (NASDAQ:TSLA) stock fell following a Reuters report claiming the company scrapped plans for a low-cost EV, a move that contradicts Elon Musk's vision of making electric cars more accessible. Musk refuted the report, but concerns about Tesla's market reach and competition from Chinese EV makers persist. The shift towards developing self-driving robotaxis introduces new challenges, potentially impacting Tesla's ambitious sales targets and competitive edge. Tesla's recent financial performance shows a decline in vehicle deliveries and production, with a significant stock price drop over the last six months. Investors can also engage with Tesla through ETFs like The Meet Kevin Pricing Power ETF (NYSE:PP) and Vanguard Consumer Discretion ETF (NYSE:VCR).

Portfolio Pulse from Anusuya Lahiri

April 05, 2024 | 3:50 pm

FOXA

Fox Corp (NASDAQ:FOXA) shares have risen over 8% in the past month, buoyed by the momentum of the U.S. presidential election campaigns. Seaport Research Partners suggests 2024 presidential election ad spending could set a new record. Analyst David Joyce of Seaport upgraded Fox's rating from Neutral to Buy, maintaining a $37 price target. Political ad spending is projected to reach $9 billion this year, potentially boosting Fox's ad revenue significantly in the coming quarters. The company's strong performance in sports broadcasting and a healthy balance sheet are also highlighted as positive factors.

Portfolio Pulse from Priya Nigam

April 05, 2024 | 3:46 pm

Deep-pocketed investors are showing a bearish sentiment towards GE Aero (NYSE:GE), with options activity suggesting significant moves. Benzinga's tracking revealed 30 unusual options activities, with a bearish majority. The price band focus is between $140.0 and $165.0. Notable trades include both puts and calls with varying sentiments and strike prices. GE Aerospace, a leader in aircraft engines, is the core business of GE, which has spun off other divisions. The stock is slightly up, with a current price of $148.35, and experts have given it an average target price of $174.0.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 3:46 pm

CMG

Investors have shown a bullish stance on Chipotle Mexican Grill (CMG), with unusual options activity indicating a price target range of $2340 to $3120 over the next three months. The activity includes 22 trades, with a sentiment split of 63% bullish and 36% bearish. The largest trades are predominantly calls, suggesting expectations of a price increase. Chipotle, the largest fast-casual chain in the U.S., has seen its stock price rise by 0.86% to $2880.58, with analysts giving an average target price of $3150.

Portfolio Pulse from Benzinga Insights

April 05, 2024 | 3:45 pm

DFS

NAVI

NNI

SLM

SOFI

President Joe Biden is expected to announce a new student loan forgiveness plan, following the Supreme Court's overturning of a previous plan. The Biden administration has already approved nearly $138 billion in relief, benefiting over 4 million borrowers. This news has impacted stocks of student loan collection companies, with SoFi Technologies and SLM Corp seeing increases, while Nelnet Inc. and Navient Corp experienced decreases. Discover Financial Services, rumored to be selling its student loan unit, also saw a slight increase.

Portfolio Pulse from Anthony Noto

April 05, 2024 | 3:43 pm

FLGC

Flora Growth Corp. (NASDAQ:FLGC) announced a $3.2M public offering of 1.7 million common shares, with proceeds aimed at general corporate needs. The offering, managed by Aegis Capital Corp., aligns with Flora's expansion in Germany, including a recent acquisition and plans to capitalize on new cannabis legislation. Shares rose 11.36% to $2.45 following the news.

Portfolio Pulse from Jelena Martinovic

April 05, 2024 | 3:43 pm

BLK

FBTC

BlackRock Inc. (BLK) has expanded its Authorized Participants (APs) for the IBIT Bitcoin ETF, adding Goldman Sachs (GS), Citigroup (C), and others, aiming to enhance liquidity and investor reach. This move reflects the growing integration of Bitcoin into mainstream finance and has seen IBIT and Fidelity's FBTC ETF outperform significantly, capturing a substantial portion of net inflows.

Portfolio Pulse from Murtuza Merchant

April 05, 2024 | 3:41 pm