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XPEV

Xpeng Inc. (NYSE:XPEV) has announced a limited-time discount of RMB 10,000 ($1,400) on its G6 SUV starting Dec. 18, following a previous price cut on the P7i sedan. The G6's price reduction and a 24-term zero-interest loan option aim to boost sales amid a plateau in growth and increasing competition in China's EV market. Despite a downturn in the Hong Kong stock market and divestment concerns, Xpeng reported a 25% year-on-year sales growth in Q3 FY23 and a record delivery of over 20,000 vehicles in November.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 7:41 am

COST

HEI

JOB

QIPT

The CNN Money Fear and Greed index indicated a slight decline in market sentiment but remained in the 'Greed' zone. The Dow Jones rose, marking gains for the seventh consecutive week. Costco Wholesale Corporation's shares hit a record high after reporting strong Q1 earnings. The S&P 500 saw mixed sector performance, with IT and consumer discretionary stocks rising. Investors are looking forward to earnings from HEICO Corporation, GEE Group Inc., and Quipt Home Medical Corp.

Portfolio Pulse from Avi Kapoor

December 18, 2023 | 7:16 am

IPHA

Innate Pharma has announced that CEO Mondher Mahjoubi will depart in January 2024 to join a large pharmaceutical company. Co-founder Hervé Brailly will serve as interim CEO, while Irina Staatz-Granzer will become Chairwoman of the Supervisory Board.

Portfolio Pulse from Benzinga Newsdesk

December 18, 2023 | 7:10 am

BMWYY

HMC

KARS

MZDAY

POAHY

TSLA

Consumer Reports' annual survey on auto brand reliability did not feature any U.S. automakers in the top ten, with Toyota (TM) and its Lexus brand leading the list. BMW's Mini, Honda's Acura and Honda, Subaru, Mazda (MZDAY), Porsche (POAHY), BMW, and Hyundai's Kia were also in the top ten. U.S. brands like General Motors' Buick (GM), Tesla (TSLA), and Ford (F) trailed behind, with Tesla ranking 14th. The survey also noted that hybrids had fewer problems than ICE vehicles, while PHEVs and EVs, including electric pickup trucks, had more issues. The KraneShares Electric Vehicles and Future Mobility Index ETF (KARS) closed down 0.55%.

Portfolio Pulse from Shanthi Rexaline

December 18, 2023 | 6:44 am

MBGAF

TSLA

A Mercedes-Benz dealership in Texas distributed printed copies of a CNN article about a Tesla Autopilot recall to its customers. The recall, announced by the NHTSA, led to Tesla issuing a software update to address the issues. Mercedes-Benz's action highlights the competition with Tesla and its active pursuit of EV market share. Tesla's OTA update solution for the recall has been criticized by some as misleading. Despite this, Tesla remains a strong investment in the EV industry, according to Gary Black of Future Fund.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 6:25 am

SHIBUSD

Shiba Inu (SHIB) experienced a significant token burn over the weekend, with 8.6 billion SHIB tokens burned in six transactions, resulting in a 727,000% spike in burn rate. The SHIB team member Lucie reported the burn and hinted at more to come, with lead developer Shytoshi Kusama emphasizing the importance of global adoption for impactful burns. Shibarium transactions have increased, with an average of 7.5 million daily transactions since December 2. Cryptocurrency analyst Ali Martinez suggests a potential breakout for SHIB if it maintains the support level at $0.0000103. Currently, SHIB is trading at $0.000010, down 8% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

December 18, 2023 | 6:01 am

BABA

XPEV

Hong Kong stocks fell, with Xpeng Inc. (NYSE:XPEV) experiencing significant losses after Alibaba Group (NYSE:BABA) announced its intention to sell 25 million American depositary shares in Xpeng. The Hang Seng Index dropped 1%, influenced by concerns over China's economic recovery and mixed activity data for November. Alibaba's divestment is part of its strategy to reshape its investment approach and manage capital more effectively, reducing its stake in Xpeng from 10.2% to 7.5%. The broader market was also affected by the resignation of HKEX CEO Nicolas Aguzin and disappointing Chinese retail sales and property investment data.

Portfolio Pulse from Benzinga Neuro

December 18, 2023 | 4:55 am

AMZN

NFLX

Netflix Inc. (NASDAQ:NFLX) is considering a spinoff of its successful series 'Wednesday' after its impressive viewership numbers. The company is in talks for a second season and exploring an Addams Family series focused on Uncle Fester. Amazon.com Inc. (NASDAQ:AMZN), through its MGM acquisition, supports Netflix by producing the show. Netflix's strategy aligns with industry trends of leveraging franchises, as seen with plans for 'Extraction' and 'Peaky Blinders' spinoffs, similar to HBO's approach with 'Game of Thrones' and 'Sex and the City'.

Portfolio Pulse from Ananya Gairola

December 18, 2023 | 4:22 am

DOGEUSD

FLOKIUSD

SHIBUSD

Crypto analysts are predicting a surge for meme coins, particularly Shiba Inu (CRYPTO: SHIB) and Floki (CRYPTO: FLOKI). Crypto Tony highlighted SHIB's momentum and anticipates a 'supreme pump' for FLOKI. Another analyst, MacroCRG, considers FLOKI a 'blue-chip' meme coin with intrinsic value. FLOKI is also launching an aggressive marketing campaign in Hong Kong. Additionally, Ali Martinez suggests a potential breakout for SHIB if it maintains a support level.

Portfolio Pulse from Mehab Qureshi

December 18, 2023 | 3:35 am

AAPL

Apple Inc. (AAPL) is expected to shift its focus in 2024 from the iPhone to its wearable business, including the new Vision Pro mixed reality headset, smartwatches, and AirPods. According to Bloomberg's Mark Gurman, the iPhone 16 lineup will see an upgrade but no major changes, retaining the iPhone 15's design with larger screens for high-end models and possibly an Action button for low-end models. Vision Pro marks Apple's entry into AR/VR, while AirPods and Apple Watch are anticipated to receive significant updates. The third-generation AirPods have underperformed, but new fourth-generation models with design improvements and USB-C charging are expected. The Apple Watch may also feature new health capabilities. Despite stagnant sales in major product categories, Apple's services sector has shown growth, and analysts are not predicting a major resurgence for Apple products in the current fiscal year.

Portfolio Pulse from Ananya Gairola

December 18, 2023 | 3:24 am