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APA

DHI

HUBS

INTC

WS

Wall Street's most accurate analysts have made new stock picks, with significant upside potential identified in companies like Intel, HubSpot, APA Corporation, D.R. Horton, and Worthington Steel. These picks come amidst a backdrop of the Dow Jones experiencing its worst weekly performance in 2024. Analysts from firms such as Canaccord Genuity, Roth MKM, Wedbush, Keybanc, and Truist Securities have maintained or adjusted their ratings on these stocks, citing various corporate developments and financial results.

Portfolio Pulse from Avi Kapoor

April 08, 2024 | 12:46 pm

LGVN

Longeveron Inc. (NASDAQ:LGVN), a biotech firm, issued a shareholder letter from CEO Wa'el Hashad, marking his first year and outlining the company's strategy, clinical pipeline, and 2024 priorities. The letter emphasized the development of Lomecel-BTM, targeting Hypoplastic Left Heart Syndrome (HLHS) and Alzheimer's Disease, with significant advancements and designations from the FDA for HLHS. The company plans to focus on strategic collaborations, leveraging manufacturing capabilities, and efficient resource management. Longeveron highlighted the need for additional capital to continue operations beyond Q2 2024, mentioning a recent reverse stock split and SEC registration statement filing.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:44 pm

MULN

Mullen Automotive, Inc. (MULN) announces significant cost reduction and consolidation measures expected to save approximately $170 million over the next 12 months. The company is focusing on the commercial EV segment, aiming to sell 100 units in April, as part of its strategy to align with current market conditions and drive near-term revenue. These actions include prioritizing commercial programs, integrating engineering centers, and expanding the dealer network, aiming for long-term growth and improved financial results.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:43 pm

VSTO

Czechoslovak Group (CSG) has reaffirmed its $1.91 billion all-cash acquisition of Vista Outdoor (VSTO), with financing fully committed by JP Morgan Chase. CSG, a significant NATO supplier with top security clearance, operates ammunition facilities in Arkansas and Missouri, acquired in 2022 with CFIUS approval. The transaction has received FTC antitrust clearance.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:32 pm

MCHP

TSM

Microchip Technology (NASDAQ:MCHP) has expanded its partnership with TSMC to enhance semiconductor manufacturing capacity, focusing on a specialized 40 nm process at Japan Advanced Semiconductor Manufacturing, Inc. (JASM), a TSMC subsidiary in Japan. This move is part of Microchip's strategy to increase supply chain resiliency, including boosting internal manufacturing capabilities and establishing geographical diversity. The partnership aims to support global customers across various markets such as automotive, industrial, and networking, ensuring reliable supply management and fostering long-term growth and innovation.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 12:07 pm

AAPL

NVDA

SMH

SOXX

TSM

Taiwan Semiconductor Manufacturing Co (TSMC) is significantly expanding its U.S. investment to over $65 billion, supported by a $6.6 billion federal grant, to produce advanced 2-nanometer chips. This includes building a third chip manufacturing facility in Phoenix, Arizona, by 2030, marking the largest foreign direct investment in U.S. history for a greenfield project. TSMC also aims for 60% local procurement for its first chip manufacturing facility in Japan by 2030. Despite a severe earthquake in Taiwan, TSMC maintains its annual revenue growth forecast. TSMC stock has gained 59% in the last 12 months, and investors can also gain exposure through VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX).

Portfolio Pulse from Anusuya Lahiri

April 08, 2024 | 12:06 pm

EQNR

EuroGreen Maritime SAS has entered a seven-year charter agreement with Equinor ASA for four advanced hybrid battery/dual-fuel methanol tankers with wingsails, marking a significant step towards sustainable maritime solutions.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 11:32 am

TSM

The U.S. government will provide up to $6.6 billion in funding to TSMC for its Arizona plants as part of the CHIPS and Science Act. This funding aims to support TSMC's $65 billion investment in advanced fabrication plants in Phoenix, Arizona, and includes $50 million for local talent training. The initiative is part of a broader strategy to strengthen the U.S. semiconductor supply chain and reduce reliance on overseas manufacturing. TSMC, a key supplier for Apple and NVIDIA, has already created over 25,000 jobs and attracted 14 semiconductor suppliers to Arizona.

Portfolio Pulse from Benzinga Neuro

April 08, 2024 | 11:24 am

PPTA

Perpetua Resources Corp. has received a Letter of Interest from the Export-Import Bank of the United States for potential debt financing up to $1.8 billion for its Stibnite Gold Project. This financing is part of EXIM's 'Make More in America' and 'China and Transformational Exports Program' initiatives.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 11:12 am

LH

Labcorp announced the expansion of its precision oncology portfolio, including the launch of Labcorp Plasma Detect for molecular residual disease, enhancement of Labcorp Plasma Complete for ctDNA genomic profiling, and investment in cell and gene therapy capabilities.

Portfolio Pulse from Benzinga Newsdesk

April 08, 2024 | 11:11 am