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CTSH

Cognizant Tech Solns Inc. (NASDAQ:CTSH) shares are currently trading at $65.56, after a 0.43% increase. Over the past month, the stock spiked by 5.45%, but decreased by 3.62% in the past year. The company's P/E ratio is lower than the aggregate P/E of 29.76 of the IT Services industry, indicating that the stock might be undervalued. However, a lower P/E can also suggest that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

July 04, 2023 | 8:35 pm

TSLA

Toyota Motor Corp (NYSE:TM) announced a technological breakthrough that could potentially halve the weight, size, and cost of batteries, a significant advancement for electric vehicles. The company has streamlined the production of battery materials and aims to reduce charging durations and enhance driving range. Toyota plans to mass-produce solid-state batteries in EVs by 2027 or 2028. This development could help Toyota close the gap with Tesla Inc (NASDAQ:TSLA) in the electric vehicle market.

Portfolio Pulse from Bibhu Pattnaik

July 04, 2023 | 7:09 pm

CTAS

Cintas Inc.'s stock price is currently at $487.43, after a 1.94% drop. However, over the past month, the stock increased by 0.58%, and in the past year, by 28.23%. The company's P/E ratio of 39.89 is lower than the industry average of 54.46, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

July 04, 2023 | 6:50 pm

SPXL

SPXS

SPY

Ahead of the Fourth of July holiday, the SPDR S&P 500 (NYSE:SPY) closed slightly higher on below-average volume. The ETF printed an inside bar pattern on the daily chart, indicating a bullish continuation, but a bearish quadruple top pattern could cause resistance near the $444 level. Traders can play the SPY either bullishly or bearishly through Direxion ETFs: Direxion Daily S&P 500 Bull 3X Shares (NYSE: SPXL) and Direxion Daily S&P 500 Bear 3X Shares (NYSE: SPXS). These triple leveraged funds track the movement of the SPY, seeking a return of 300% or negative 300% on the return of the benchmark index over a single day.

Portfolio Pulse from Melanie Schaffer

July 04, 2023 | 6:10 pm

AMC

BIDU

DIS

LYV

META

NFLX

PARA

RBLX

WBD

Benzinga's options activity scanner has identified significant options activity in 10 communication services stocks. The stocks include PARA, META, NFLX, WBD, BIDU, RBLX, DIS, AMC, VZ, and LYV. The options activity ranges from bearish to bullish and neutral sentiments, with varying expiration dates and strike prices.

Portfolio Pulse from Benzinga Insights

July 04, 2023 | 5:39 pm

AMZN

BABA

MSFT

NVDA

The US is planning to restrict Chinese companies from accessing US cloud-computing services from Amazon and Microsoft. The new rule would require US cloud-service providers to obtain government permission before offering services that use advanced AI chips to customers in China. This move is seen as an effort to close a loophole that may have allowed Chinese AI companies to evade export control regulations by using cloud services. The ban is the latest in a series of reciprocal measures taken by the US and China concerning semiconductors and other advanced technologies.

Portfolio Pulse from Bibhu Pattnaik

July 04, 2023 | 3:08 pm

AMZN

RIVN

Rivian Automotive's electric delivery vans, designed in conjunction with Amazon, have arrived in Europe. Over 300 vans will roll out in Germany in the coming weeks. These are Rivian's first vehicles in Europe. Amazon aims to have 10,000 Rivian vehicles in its fleet worldwide by 2030.

Portfolio Pulse from Anan Ashraf

July 04, 2023 | 2:02 pm

SFTBY

Masayoshi Son, CEO of SoftBank Group, predicts a future where artificial intelligence (AI) surpasses human intellect and is applied in every industry. He urged Japan not to get distracted by minor issues like electricity efficiency in AI development, as it could cause the country to lag in the global AI race.

Portfolio Pulse from Benzinga Newsbot

July 04, 2023 | 10:20 am

ARVL

Electric vehicle startup Arrival SA (NASDAQ:ARVL) has terminated its proposed merger with Kensington Capital Acquisition Corp V and plans to pursue alternate funding. The merger would have provided Arrival with up to $283 million for the development of its XL van. Arrival ended Q1 with $130 million in cash. The company has engaged TD Cowen and Teneo Financial Advisory for its new funding strategy.

Portfolio Pulse from Anan Ashraf

July 04, 2023 | 6:49 am

AMZN

GOOGL

MSFT

Microsoft Corporation's Indian arm is reshuffling its top executives, promoting several key figures. The move comes amid strong competition from Amazon and Google in the enterprise cloud space in India. The report also suggests that Puneet Chandok, former head of AWS India, may be joining Microsoft. Microsoft India's president recently emphasized the company's focus on expanding its presence in India, particularly in sectors such as banking and financial services.

Portfolio Pulse from Arpit Nayak

July 04, 2023 | 5:39 am