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LULU

Recent options trading activity on Lululemon Athletica (NASDAQ:LULU) shows a mix of bullish and bearish sentiment among big-money investors. Benzinga's options scanner identified 9 uncommon trades, with a total of $213,027 in puts and $145,559 in calls. Analysts have set an average price target of $475.2 for LULU, with ratings ranging from Market Perform to Outperform.

Portfolio Pulse from Benzinga Insights

June 07, 2024 | 2:31 pm

BABA

PDD

Alibaba Group Holding Limited (NYSE:BABA) projects $60 billion in GMV for its B2B platform Alibaba.com in 2024, marking a 20% increase from last year. The company plans new business model breakthroughs to sustain growth. Despite competition from PDD Holdings Inc (NASDAQ:PDD), Alibaba focuses on small business sourcing and local ecosystems. Recent initiatives include Alibaba Guaranteed and AI tools to enhance B2B sourcing. Alibaba reported fiscal Q4 2023 revenue growth of 7% Y/Y to $30.73 billion, beating analyst expectations, but adjusted earnings per ADS missed slightly.

Portfolio Pulse from Anusuya Lahiri

June 07, 2024 | 2:26 pm

META

VOX

XLC

Meta Platforms Inc. (NASDAQ:META) has introduced AI-powered ad targeting on WhatsApp, marking a significant shift for the messaging service. This move aims to enhance revenue generation from WhatsApp, which has been minimally contributing to Meta's overall revenue despite its popularity. The new AI tools will leverage user behavior on Facebook and Instagram to tailor messages to receptive customers. Additionally, Meta announced the integration of Brazil's PIX digital payment system into WhatsApp.

Portfolio Pulse from Shivani Kumaresan

June 07, 2024 | 2:25 pm

BIDU

NVDA

TSLA

Tesla, Inc (NASDAQ:TSLA) stock is trading lower on Friday due to concerns about the impact of AI on the electricity grid. Morgan Stanley analyst Adam Jonas highlighted the strain on power usage from data centers and generative AI. Tesla also released a software upgrade for its in-car navigation system in China and is working on its Full Self-Driving software. Additionally, insider emails revealed that Elon Musk diverted 12,000 Nvidia GPUs from Tesla to X, delaying Tesla’s AI projects by over $500 million. Despite these challenges, analysts remain optimistic about Tesla's future prospects.

Portfolio Pulse from Anusuya Lahiri

June 07, 2024 | 2:24 pm

LLY

NVO

The rise of weight loss drugs like Wegovy and Mounjaro by Novo Nordisk (NYSE:NVO) is leading to new product developments across various sectors, including food, beverage, and fitness. Companies like DSM Firmenich, Nestle, and Danone are adapting to these changes. Novo Nordisk is also facing legal challenges related to counterfeit products and potential patent issues in China.

Portfolio Pulse from Benzinga Neuro

June 07, 2024 | 2:17 pm

BTCUSD

DOGEUSD

ETHUSD

Bitcoin, Ethereum, and Dogecoin are expected to see minimal price movement until significant economic data is released next Wednesday, including CPI, Core CPI, and the FOMC meeting. This convergence of key economic indicators could lead to market volatility.

Portfolio Pulse from Khyathi Dalal

June 07, 2024 | 2:13 pm

CUBI

Customers Bank is reportedly debanking some digital asset hedge funds, which could impact its relationship with the cryptocurrency sector.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 2:11 pm

AAPL

Apple Inc. (NASDAQ:AAPL) is set to reveal its AI strategy, 'Apple Intelligence,' at the WWDC 2024. The AI features will be integrated into various Apple devices and apps, focusing on enhancing customer experience with a strong emphasis on user privacy and security. The event will also showcase other software upgrades and potentially provide insights into upcoming hardware releases.

Portfolio Pulse from Rounak Jain

June 07, 2024 | 2:08 pm

AAPL

BIDU

INTC

NVDA

Nvidia faces competition from Huawei's new AI chip, the Ascend 910B, which reportedly matches or surpasses Nvidia's A100 in some tests. This comes amid US export restrictions on Nvidia's advanced GPUs to China. Huawei's AI strategy has gained traction domestically, with major Chinese tech firms adopting its chips. Despite technological challenges, Huawei's AI chips present substantial competition to Nvidia within China. Nvidia's market valuation recently surpassed $3 trillion, but its shares were trading lower by 1.15% at $1,196.05.

Portfolio Pulse from Anusuya Lahiri

June 07, 2024 | 1:56 pm

GME

GameStop Corp (NYSE:GME) experienced a significant price surge, closing at $46.55 with a 47.45% jump on Thursday, but fell 13.9% on Friday morning following an earnings miss. The stock's recent volatility is driven by high short interest and the return of Keith Gill, aka Roaring Kitty, who announced a live stream event. GME's short interest remains high, with 68.39 million shares shorted, equating to 21.84% of the float.

Portfolio Pulse from Surbhi Jain

June 07, 2024 | 1:55 pm