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TSLA

Tesla, Inc. (NASDAQ:TSLA) is reportedly facing significant challenges in meeting its production goal of 250,000 Cybertrucks by 2025 due to issues with its 4680 battery technology. The current production rate of 4680 cells at Tesla's Giga Texas factory is only sufficient for about 24,000 Cybertrucks per year, far below the target. The main issue is achieving industrial-scale dry-coating for the cathode, a critical component of the battery. Tesla's stock was trading higher by 1.54% to $250.94 in premarket.

Portfolio Pulse from Nabaparna Bhattacharya

December 21, 2023 | 1:34 pm

CTAS

Cintas Corporation has increased its annual revenue forecast from the range of $9.40 billion to $9.52 billion to a new range of $9.48 billion to $9.56 billion. Additionally, the company has raised its earnings per share (EPS) guidance from $14.00-$14.45 to $14.35-$14.65.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 1:33 pm

FET

Forum Energy Technologies (FET) has received approval from the Canadian Competition Bureau for its acquisition of Variperm Energy Services. The deal, valued at $150 million in cash and 2 million FET shares, is based on 3.7x Variperm's EBITDA. The acquisition is expected to boost FET's margins and cash flow, with a post-closing net leverage ratio of 1.9x and liquidity of $142 million.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 1:32 pm

CTAS

Cintas Corporation reported a 15.71% increase in Q2 EPS at $3.61 compared to $3.12 last year, with sales rising 9.29% to $2.38B, surpassing the $2.34B estimate.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 1:31 pm

AAPL

BA

BNP

C

HSBC

MU

SNE

TM

TSLA

The Shiba Inu burn rate has surged by 28,000%, with 6 million SHIB burned. Sony anticipates a $1.5 billion loss from Microsoft's acquisition of Activision Blizzard. A majority supports Trump's disqualification in Colorado. Solana's meme coin BONK has dropped over 40% from all-time highs. Bitcoin obituary count is at a decade low. Elon Musk's X may allow Dogecoin payments. Micron reports upbeat sales. Investor sentiment shifts to 'greed'. Apple reveals iOS 18 code with four new iPhone models. Sony's PlayStation 5 sales hit 50M despite supply issues. Tesla looks for a Nordic public policy expert. Toyota recalls 1M vehicles in the US. Meta is concerned about the Indian telecom bill's impact on WhatsApp. Boeing is set to restart 737 MAX deliveries in China. Citigroup is closing its global distressed-debt business, and HSBC and BNP may face fines in South Korea.

Portfolio Pulse from Akanksha Bakshi

December 21, 2023 | 1:31 pm

GWW

W.W. Grainger's (NYSE:GWW) short interest has increased by 12.55% since the last report, with 1.20 million shares sold short, representing 3.05% of available shares. It would take about 4.88 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a price drop. Compared to its peers, GWW has a lower short interest percentage of float (3.05% vs. peer average of 5.06%).

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 1:30 pm

VRTX

Vertex Pharmaceuticals (NYSE:VRTX) has seen a 7.22% increase in short interest since the last report, with 2.69 million shares sold short, representing 1.04% of available shares. The short interest is below the peer group average of 4.79%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. It takes traders approximately 1.82 days to cover their short positions based on current trading volume.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 1:30 pm

ORCL

Oracle Corporation's (NYSE:ORCL) short interest has decreased by 5.61% since the last report, with 16.09 million shares sold short, representing 1.01% of available shares. The average time to cover these short positions is 2.79 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Oracle has a lower short interest compared to its peer group average of 4.71%.

Portfolio Pulse from Benzinga Insights

December 21, 2023 | 1:30 pm

MMSI

Canaccord Genuity analyst Jon Young has upgraded Merit Medical Systems (NASDAQ:MMSI) from Hold to Buy and increased the price target from $76 to $100.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 1:19 pm

KMX

CarMax Inc (NYSE:KMX) shares rose after reporting mixed Q3 FY24 earnings with a sales decline of 5.5% to $6.15 billion, missing estimates. Unit sales increased by 1.3% YOY, with online sales making up 14% of retail sales. Gross profit rose 6.3% to $612.9 million, and EPS of $0.52 beat estimates. SG&A expenses decreased, but CarMax Auto Finance income dropped 2.3%. The company plans to open four new stores in Q4. KMX shares surged 7.20% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 21, 2023 | 1:17 pm