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AMZN

EBAY

GOOGL

PDD

Chinese e-commerce platform Temu, a division of PDD Holdings Inc (NASDAQ:PDD), has surpassed eBay Inc. (NASDAQ:EBAY) in attracting repeat U.S. customers. A survey by Omnisend shows 34% of consumers shop on Temu monthly, compared to eBay's 29%. Temu's growth is driven by heavy marketing and promotional discounts, including Super Bowl ads. Despite challenges in product quality and delivery speeds, Temu's direct-from-factory sales model is gaining traction among price-conscious shoppers.

Portfolio Pulse from Shivani Kumaresan

June 11, 2024 | 6:48 pm

AXP

EBAY

Citigroup analyst Keith Horowitz initiated coverage on American Express (AXP) with a Neutral rating and a $250 price target, citing limited near-term upside despite a positive long-term outlook. AXP shares are trading lower by 2.78% at $225.98. EBay (EBAY) plans to stop using American Express cards due to high fees.

Portfolio Pulse from Anusuya Lahiri

June 11, 2024 | 6:45 pm

GOOG

GOOGL

PINS

TikTok is introducing image search capabilities in its TikTok Shop, positioning itself as a competitor to Google in the search market. This move could impact Google's dominance in search and also affect other companies in the visual search space.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 6:43 pm

MSFT

SONY

Activision, a subsidiary of Microsoft Corp. (NASDAQ:MSFT), has clarified that the upcoming Call of Duty: Black Ops 6 will not require a 300 GB download, contrary to earlier messaging. This news alleviates concerns for players using Sony Group Corp. (NYSE:SONY) PlayStation 5 and Xbox Series X | S consoles. The actual file size will be smaller, with more details to be provided closer to the game's launch.

Portfolio Pulse from Franca Quarneti

June 11, 2024 | 6:42 pm

GSIT

GSI Technology has been granted U.S. Patent #12008068 for in-memory matrix multiplication and its usage in neural networks. This patent could enhance the company's technological capabilities and market position in the AI and neural network sectors.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 6:37 pm

CCOEY

Resident Evil Village has sold over 10 million copies, making it the fastest-selling game in the series. The game's success is attributed to its engaging gameplay and popular characters. Capcom ADR's Resident Evil Village Gold Edition has also contributed to sustained sales. The franchise is expected to continue with more remakes and a new installment.

Portfolio Pulse from Franca Quarneti

June 11, 2024 | 6:37 pm

AISP

BNED

CURI

CVGW

CXW

TPET

U.S. stocks traded mixed with the Nasdaq Composite gaining around 100 points. CoreCivic shares plummeted after receiving a termination notice from ICE. Calavo Growers reported strong Q2 results, boosting its stock. Trio Petroleum, CuriosityStream, and Airship AI saw significant gains, while Target Hospitality and Barnes & Noble Education experienced sharp declines.

Portfolio Pulse from Avi Kapoor

June 11, 2024 | 6:31 pm

AAPL

NVDA

Brad Gerstner, founder and CEO of Altimeter Capital, has become more bullish on Apple Inc (NASDAQ:AAPL) as the company unveils new AI-powered features at its annual developers conference. Gerstner announced on CNBC that he bought Apple stock ahead of the 2024 WWDC, citing Apple's positioning in the premium consumer space and its partnership with OpenAI. He believes Apple will be a key player in the AI race. Gerstner also continues to be bullish on Nvidia Corp (NASDAQ:NVDA), which he has been buying since late 2022, predicting an 'AI supercycle.'

Portfolio Pulse from Adam Eckert

June 11, 2024 | 6:31 pm

AAPL

ARKK

GOOG

GOOGL

META

MSFT

QQQ

TSLA

Cathie Wood's ARK Invest report highlights the transformative potential of AI in consumer behavior, advertising, and wearable tech. The report suggests that AI could significantly save consumer time, drive $9 trillion in global private consumption by 2030, and revolutionize advertising. It also discusses the potential for both established tech giants and new entrants to dominate the AI space.

Portfolio Pulse from Hayden Buckfire

June 11, 2024 | 6:20 pm

BIIB

LLY

Eli Lilly's Alzheimer's treatment, donanemab, received a favorable verdict from an FDA advisory committee, boosting its stock potential. BofA analyst Geoff Meacham reiterated a Buy rating with a $1,000 price target for Eli Lilly (LLY). The verdict supports regulatory approval for donanemab, which is expected to have a label similar to Biogen's (BIIB) Leqembi. However, challenges in commercial implementation and potential risks from competing products and drug pricing system restructuring remain.

Portfolio Pulse from Nabaparna Bhattacharya

June 11, 2024 | 6:19 pm