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RIVN

Rivian Automotive (NASDAQ:RIVN) is cutting another 1% of its workforce, following Tesla's recent layoffs, as part of its efforts to achieve profitability by the end of the year. The cuts will likely affect support and back-office workers. Despite increasing vehicle deliveries, Rivian continues to face losses and aims for profitability by Q4 2024. Rivian's stock saw a slight increase on Wednesday but dropped in after-hours trading.

Portfolio Pulse from Anan Ashraf

April 18, 2024 | 6:16 am

TSM

Taiwan Semiconductor (NYSE:TSM) reported Q1 2024 earnings of $1.38 per share, surpassing the $1.32 estimate, with sales of $18.873B also beating the $18.395B estimate, marking a 12.88% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 6:07 am

U.S. Senator Ron Johnson emphasized the importance of Boeing Co.'s success and safety in aviation following a whistleblower's revelations about the 787 Dreamliners. The aerospace giant faces challenges as it prepares for its Q1 earnings report and the appointment of a new CEO, amidst a 32% stock decline year-to-date. Boeing's potential deal with NASA and the Starliner project may offset its airplane segment's weaknesses.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 5:57 am

TSLA

Ross Gerber, CEO of Gerber Kawasaki Wealth and Investment Management, expressed his gratitude for Tesla Inc. (NASDAQ:TSLA) as an investment ahead of a shareholder vote on CEO Elon Musk's $56 billion pay package. The vote, scheduled for May 7, follows the board's invalidation of Musk's previous $47 billion package. Gerber's comments highlight the importance of the board's credibility in this decision, amidst his criticism of Musk's management and its impact on Tesla's performance.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 5:21 am

BTCUSD

ETHUSD

MARA

Crypto analyst IncomeSharks predicts Bitcoin (BTC) could fall below $60,000 before a 'hate halving rally' occurs, coinciding with the upcoming Bitcoin halving event. This prediction is based on the need to eliminate panic sellers. The halving, which introduces anti-deflationary features to Bitcoin, historically leads to a price surge. Other analysts have identified critical support and potential bullish triggers for Bitcoin's price. Jim Cramer advised against investing in Marathon Digital Holdings Inc (MARA), suggesting Bitcoin or Ethereum (ETH) as better alternatives. Bitcoin is currently trading at $61,562, showing a slight increase and a significant year-to-date gain.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 3:36 am

MARA

Jim Cramer, on 'Mad Money,' recommended against investing in Marathon Digital Holdings Inc. (MARA) due to its recent 20% decline and overall market volatility, suggesting Bitcoin (BTC) or Ethereum (ETH) as better alternatives. Despite the crypto market's uncertainties, experts remain bullish, citing a strong U.S. economy and AI potential. Marathon Digital's stock has fallen 36.20% YTD, while Bitcoin and Ethereum have seen significant gains.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 2:56 am

ARKK

ARKQ

ARKW

TSLA

Cathie Wood's Ark Invest purchased $10.3M worth of Tesla (TSLA) shares amid a price downturn, through its ETFs ARKK, ARKQ, and ARKW. This acquisition occurs despite Tesla's recent stock losses and concerns over its quarterly performance and product pipeline. The purchase aligns with Ark's long-term bullish view on Tesla, following a previous buy of $3.3M in shares. The move coincides with Tesla CEO Elon Musk's announcement of removing inventory discounts and his anticipated investment announcement in India.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 2:02 am

AAPL

META

MSFT

NVDA

Jim Cramer, on his CNBC show 'Mad Money', warned of potential further market declines, advising caution in buying or selling decisions. He highlighted the recent downturn, particularly noting losses from major tech companies like NVIDIA, Apple, Meta Platforms, and Microsoft. Cramer suggested the market is not yet oversold and mentioned the economy's strength as a deterrent for Federal Reserve rate cuts. Despite current concerns, including Middle East tensions, experts remain optimistic about the long-term bull market, with predictions of significant S&P 500 growth by 2026.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 2:01 am

ARM

BABA

TSLA

TSM

U.S. stocks closed lower with Taiwan Semiconductor, ARM Holdings, Alcoa, Alibaba, and Tesla being key stocks on investors' radars. Taiwan Semiconductor and ARM Holdings traded lower due to poor results from ASML Holding. Alcoa reported a quarterly loss but beat revenue estimates. Alibaba introduced its Logistics Marketplace, slightly impacting its shares, while Tesla removed inventory discounts, affecting its stock.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 1:22 am

BTCUSD

Bitcoin's price hovering around $50,500 could trigger over $15 billion in liquidations on Binance, according to analyst Ali Martinez. Despite recent price drops and warnings of a significant correction, some remain optimistic about Bitcoin's future, with predictions of reaching $250,000 by the end of 2024. Bitcoin's current price is $61,371, showing a 38.94% increase year to date.

Portfolio Pulse from Benzinga Neuro

April 18, 2024 | 1:10 am