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AAPL

AMZN

FCX

MSFT

NVDA

QQQ

SPY

TSLA

Freeport-McMoRan Inc (FCX) has outperformed NVIDIA Corp (NVDA) due to optimism about China's economy, a major copper user. Positive PMI data from China and comments from Fed Chair Powell on interest rates have influenced market movements. Early trade money flows show positive trends for AMZN, MSFT, TSLA, neutral for NVDA, META, GOOG, and negative for AAPL. Mixed flows are observed in SPY and QQQ. The article also highlights the importance of portfolio construction and diversification.

Portfolio Pulse from The Arora Report

April 02, 2024 | 5:55 pm

VEEV

Veeva Systems Inc. (NYSE:VEEV) shares dropped due to the announcement of CFO Brent Bowman's departure by April 1, 2024, and other significant management changes. Despite this, Veeva reiterated its Q1 revenue outlook of $640-$643 million and FY revenue of $2.725-$2.740 billion. The company also detailed the transition plan for Veeva CRM customers to Vault CRM, expected to start in early 2025.

Portfolio Pulse from Nabaparna Bhattacharya

April 02, 2024 | 5:23 pm

HON

Honeywell International Inc. is considering selling its personal protective equipment (PPE) unit, valued at over $2 billion, due to decreased demand post-pandemic. The company is exploring strategic options with an adviser, including a potential sale primarily to private equity firms. This move aligns with CEO Vimal Kapur's strategy to focus on aerospace, energy transition, and automation systems. Honeywell's PPE unit includes products like respiratory protection and face masks.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:15 pm

VEEV

Veeva Systems Inc. shares are trading lower following the announcement of a CFO transition and the reiteration of its financial guidance.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:15 pm

VEEV

Veeva Systems Inc. has announced a transition in the position of Chief Financial Officer (CFO). The company, known by its ticker symbol VEEV, is making changes in its financial leadership, which could have implications for its strategic direction and financial planning.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 5:15 pm

FXI

SPY

U.S. Treasury Secretary Janet Yellen plans to pursue a 'healthy economic relationship' with China, focusing on targeted actions to safeguard U.S. national security and human rights. Yellen aims to collaborate with China on issues like climate change, financial stability, illicit finance, and the debt distress of developing countries.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 3:42 pm

HSBC

HSBC Holdings Plc is considering the sale of its wealth-management, custody, and fund administration units in Germany as part of its strategy to focus more on its core Asian operations. The review is in its early stages, and there's no guarantee of a sale. This move aligns with HSBC's recent trend of exiting non-core businesses and markets, including North America and French retail operations. The bank's German fund administration business, Inka, manages approximately €400 billion in assets. HSBC's German private banking activities generated about $90 million in revenue in 2023.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 3:23 pm

GRMN

PLNT

PTON

Keep Inc. (3650.HK) reported a revenue growth of 3.7% in the second half of the year, reversing a 2.7% decline in the first half. The fitness app operator reduced its headcount and costs, significantly boosting margins. Despite these improvements, Keep's stock has fallen over 80% from its IPO price, with a P/S ratio similar to Peloton (NASDAQ:PTON) but far behind Garmin (NASDAQ:GRMN) and Planet Fitness (NYSE:PLNT). The company's focus on profitability and efficiency, along with a shift towards services, has helped narrow its losses and positions it for potential profitability.

Portfolio Pulse from The Bamboo Works

April 02, 2024 | 2:10 pm

AGR

Avangrid, Inc. (NYSE:AGR), a sustainable energy company, has received the federal Record of Decision for New England Wind, marking a significant step towards federal approval for construction. This project, including New England Wind 1 and 2, aims to provide 2 Gigawatts of power, enough for nearly 1 million homes and businesses. Avangrid is also developing the Vineyard Wind 1 project, delivering power to 30,000 homes in Massachusetts.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:57 pm

VEEV

Veeva Systems Inc. shares are trading lower following the announcement of a CEO transition and the reiteration of its financial guidance.

Portfolio Pulse from Benzinga Newsdesk

April 02, 2024 | 1:38 pm