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QBTS

D-Wave Quantum Inc (QBTS) receives positive analyst coverage with a focus on its fast anneal technology, which accelerates quantum processing speeds. Needham, Benchmark, and Piper Sandler analysts reiterate Buy or Overweight ratings with price targets ranging from $2.50 to $4. Despite reporting lower-than-expected revenues for the quarter at $2.5 million, the company shows strong year-over-year bookings growth and technological advancements, including the development of a 4,800+ qubit processor for its upcoming Advantage2 system.

Portfolio Pulse from Anusuya Lahiri

May 14, 2024 | 6:54 pm

AMC

GME

IWM

PLUG

SPWR

UUP

Wall Street trades flat amid mixed producer inflation data and anticipation for consumer inflation report. Fed Chair Powell sees prolonged current monetary policy, while President Biden imposes significant tariffs on Chinese imports. The U.S. dollar index and Treasury yields fell, while small caps and meme stocks like GameStop and AMC surged. Commodities saw mixed movements, and Bitcoin dropped. Key ETFs and stocks like Insulet, Plug Power, SunPower, and Delcath Systems reacted to various news, including earnings and significant financial developments.

Portfolio Pulse from Piero Cingari

May 14, 2024 | 5:59 pm

EQNR

ICOW

PWER

Equinor ASA (NYSE:EQNR) has entered into an asset swap agreement with Petoro, aiming to streamline operations in Norway's Haltenbanken region. This deal will adjust Equinor's ownership in several fields, enhancing its position in Heidrun and Noatun while reducing stakes in Tyrihans, Castberg, Carmen, and Beta. The swap, effective from January 1, 2025, is pending regulatory and Norwegian Parliament approvals. Equinor's strategy focuses on developing the Norwegian continental shelf with high production and lower emissions by 2035. The swap is expected to simplify commercial agreements, lower operating costs, and facilitate new developments.

Portfolio Pulse from Lekha Gupta

May 14, 2024 | 5:53 pm

ABBV

AMRS

CRBP

CRDL

HRMY

JAZZ

NTEC

PFE

Roy Bingham, CEO of BDSA, projects the U.S. cannabis market to reach nearly $46 billion by 2028, driven by adult-use and medical market expansion. The DEA's reclassification of cannabis to Schedule III is expected to spur medical research and investment, with significant growth anticipated in pharmaceutical applications and medical cannabis products. This rescheduling may reduce financial pressures on cannabis businesses and attract investment from healthcare and pharmaceutical companies. Despite federal restrictions, the shift is seen as an opportunity for healthcare and pharmaceutical industries to invest in cannabinoid research, potentially impacting medication use and fostering innovation in the sector.

Portfolio Pulse from Nicolás Jose Rodriguez

May 14, 2024 | 5:32 pm

SAGE

Sage Therapeutics' CEO announced the company is open to partnerships for its Huntington's disease drug, citing significant inbound interest. This openness to collaboration could potentially accelerate the drug's development and market entry, signaling a strategic move to enhance its pipeline and market presence.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 5:31 pm

NXPI

SMH

SOXX

TSM

Taiwan Semiconductor Manufacturing Co (TSM) is set to begin construction of its first European semiconductor facility in Dresden, Germany, in Q4 2024, with production starting in 2027. The $11 billion project, named European Semiconductor Manufacturing Co (ESMC), sees Infineon, NXP Semiconductors (NXPI), and Robert Bosch each holding a 10% share. TSMC expects to receive subsidies under the European Chips Act, with strong EU and German government support. The Dresden facility will initially produce 22-nanometre node chips for automotive microcontrollers, with plans for future expansion. TSMC's expansion efforts also include a new facility in Japan. The company's April sales surged 60% to $7.3 billion, attributed to the AI boom and a recovery in consumer electronics, projecting a significant sales increase this quarter. TSMC stock has gained over 75% in the last 12 months, and investors can gain exposure through the VanEck Semiconductor ETF (SMH) and iShares Semiconductor ETF (SOXX).

Portfolio Pulse from Anusuya Lahiri

May 14, 2024 | 5:30 pm

Tim Ryan has been appointed as Citigroup's new Head of Technology and Business Enablement, according to a memo seen by Reuters.

Portfolio Pulse from Benzinga Newsdesk

May 14, 2024 | 5:30 pm

LCID

PSNY

RIVN

TSLA

VFS

Cantor Fitzgerald analyst Andres Sheppard issued Buy ratings for Tesla, Rivian, VinFast, and Polestar, with respective price targets of $230, $15, $8, and $5. Lucid received a Sell rating with a $4 price target. Sheppard highlighted Tesla's price cut on autonomous driving technology and its deal with Baidu as positive, Rivian's Amazon deal and market expansion, VinFast's price advantage and dealer network, and Polestar's production shift to the US as encouraging. Lucid's slower production ramp-up and additional capital needs were seen as negatives.

Portfolio Pulse from Hayden Buckfire

May 14, 2024 | 5:13 pm

DELL

INTC

Dell Technologies Inc. (NYSE:DELL) shares are rising after announcing an expansion and upgrades to its server portfolio, specifically the Dell PowerEdge servers. These upgrades aim to enhance performance and efficiency, catering to a wide range of organizations. The new servers, including the Dell PowerEdge R670 and R770 CSP Edition, feature Smart Cooling technology for energy efficiency and are designed for easier deployment. Intel Corporation (NASDAQ:INTC) is collaborating with Dell by providing the Intel Xeon 6 Efficient core processor, promising up to 2.3x more performance per rack compared to previous generations.

Portfolio Pulse from Nabaparna Bhattacharya

May 14, 2024 | 5:12 pm