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Boeing Co's CEO, Dave Calhoun, is set to retire at the end of the year amidst ongoing safety and quality control issues. Despite the company's challenges, Calhoun is expected to leave with a retirement package worth millions, including stock, cash, and options. His tenure has been controversial, with criticism from industry leaders and a substantial payout similar to his predecessor's despite the company's performance issues.

Portfolio Pulse from Benzinga Neuro

March 27, 2024 | 7:05 am

GCTS

GCT and Concord Acquisition have completed their merger, launching GCT on the NYSE under the ticker 'GCTS' with a pro-forma valuation of approximately $667 million. The transaction provided GCT with around $50 million in gross proceeds to support the development of a 5G chipset portfolio and expansion into new markets. Approximately $49 million was raised through PIPE and convertible note financing from existing and new investors. Existing GCT stockholders retained their equity, and most outstanding convertible notes will convert to common stock.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 7:00 am

IBIO

iBio, Inc., an AI-driven biotech firm, has announced a $15M equity financing deal through a private investment in public equity (PIPE) arrangement. The company will issue over 5 million shares and warrants at $2.85 each, a significant premium over its last closing price.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 6:28 am

GME

Jim Cramer humorously commented on GameStop Corporation (NYSE:GME) not holding an earnings call after its Q4 financial results led to a nearly 17% drop in stock price. GameStop's Q4 net sales were $1.794 billion, below the expected $2.05 billion, with earnings per share at 22 cents, missing the 29 cents estimate. The company's annual sales also declined, but it reported $1.2 billion in cash and no long-term debt outside of a COVID-19 related loan. GameStop's shares fell to $12.89 in after-hours trading.

Portfolio Pulse from Benzinga Neuro

March 27, 2024 | 6:06 am

HOOD

Robinhood Markets (NASDAQ:HOOD) announced significant updates in its first-ever keynote, including a comprehensive app overhaul, enhancements to Gold membership, and the introduction of a Gold Credit card. These updates aim to improve user experience and expand Robinhood's services. The company also revealed a partnership with Visa, though details were sparse. Amid these strategic moves, Robinhood's stock has seen a 50% increase year-to-date.

Portfolio Pulse from kaustubh@benzinga.com

March 27, 2024 | 5:10 am

CCL

DJT

GME

HOOD

TSLA

On Tuesday, U.S. stock indices ended lower, with notable movements in shares of Trump Media & Technology, Robinhood, GameStop, Carnival, and Tesla. Trump Media & Technology surged 16.10% after a successful business combination with Digital World. Robinhood rose 1.05% following a livestream event by its CEO. GameStop's stock increased by 2.51% despite a disappointing earnings report. Carnival dipped by 0.47% but received a positive outlook from Mizuho. Tesla's stock rose by 2.92% amid optimistic analyst forecasts.

Portfolio Pulse from Benzinga Neuro

March 27, 2024 | 4:48 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), stated that the cost of manufacturing its humanoid robot Optimus is less than half that of a Tesla EV, despite the robot's higher complexity per unit mass. Musk was responding to ARK Invest's Sam Korus, who suggested software capability, not manufacturing, as the main constraint for humanoid robots. Musk expressed optimism about delivering some Optimus units next year but noted the uncertainty involved. Morgan Stanley's Adam Jonas highlighted the significant market potential for such robots, given their ability to replace the global workforce.

Portfolio Pulse from Anan Ashraf

March 27, 2024 | 4:36 am

DOGEUSD

SHIBUSD

Dawkoins (DWK) surged 400% in value within 24 hours during Richard Dawkins' birthday celebration, overshadowing Dogecoin (DOGE) and Shiba Inu (SHIB), which saw increases of 4-8%. The spike in DWK's value is attributed to the tribute to Dawkins, who coined the term 'meme'. DWK achieved a market cap of over $10 million, with 22,969 transactions in a day. Elon Musk and Richard Dawkins acknowledged the rise of DWK, indicating significant community interest and potential for further growth.

Portfolio Pulse from Mehab Qureshi

March 27, 2024 | 4:19 am

BTCUSD

DOGEUSD

ETHUSD

SHIBUSD

Bitcoin, Ethereum, and Dogecoin saw minimal price changes, with Bitcoin maintaining momentum and analysts predicting a potential rise to $160,000 as conservative. The global cryptocurrency market cap slightly increased, while major US stock indices experienced declines. Economic data showed mixed results, and investors are looking forward to the upcoming personal consumption expenditures report and Federal Reserve Chairman's statements.

Portfolio Pulse from Mehab Qureshi

March 27, 2024 | 3:36 am

TSLA

Morgan Stanley analyst Adam Jonas highlighted the potential impact of a partnership between Tesla Inc (NASDAQ:TSLA) and Chinese battery maker CATL on the U.S. EV market. He suggests that this collaboration could be a game-changer by providing high-quality, cheaper batteries, essential for Tesla's goal of producing a more affordable EV priced around $25,000. Jonas maintains a $320 price target on Tesla with an 'overweight' rating. Tesla's stock closed up 2.92% at $177.67, though it's down nearly 28.5% year-to-date.

Portfolio Pulse from Anan Ashraf

March 27, 2024 | 3:22 am