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LLY

NVO

Novo Nordisk (NYSE:NVO) has filed lawsuits against nine additional U.S. clinics for selling fake semaglutide products, bringing the total to 21 lawsuits. Some products were found to be up to 33% impure. Eli Lilly (NYSE:LLY) has also taken legal action against clinics selling counterfeit tirzepatide products.

Portfolio Pulse from Vandana Singh

May 31, 2024 | 6:08 pm

NKE

Foot Locker (NYSE:FL) reported better-than-expected comparable sales and adjusted earnings for its fiscal first quarter, indicating progress in its turnaround plan. The company also reaffirmed its full-year outlook, with expectations of growth in comparable sales and adjusted earnings per share. Foot Locker's efforts include revamping stores, enhancing its mobile app and rewards program, and strengthening its partnership with Nike (NYSE:NKE).

Portfolio Pulse from Upwallstreet

May 31, 2024 | 6:03 pm

PFE

Pfizer Inc (NYSE:PFE) released promising five-year follow-up results from the Phase 3 CROWN trial for its cancer drug Lorbrena, showing significant improvements in progression-free survival and intracranial progression compared to Xalkori. The company expects Lorbrena to generate over $1 billion in annual sales by 2030.

Portfolio Pulse from Vandana Singh

May 31, 2024 | 6:02 pm

COO

COST

CZR

DELL

DIA

GLD

GPS

MDB

MRVL

NTAP

QQQ

SPY

TLT

ULTA

VEEV

Tech stocks fell as Wall Street's 5-week rally ended, with the Nasdaq 100 dropping 1.5%. The S&P 500 and Russell 2000 also declined, while the Dow Jones rose. Concerns about economic slowdown and deceleration in personal spending and income contributed to the market's performance. Bonds and defensive stocks gained, with the iShares 20+ Year Treasury Bond ETF rising 0.6%. Gold and Bitcoin fell. Notable stock movements included MongoDB dropping 23% and The Gap rising 26% after earnings reports.

Portfolio Pulse from Piero Cingari

May 31, 2024 | 5:44 pm

MRNA

Moderna Inc. (NASDAQ: MRNA) received FDA approval for its second mRNA product, mRESVIA, an RSV vaccine for adults aged 60 and older. This approval, under a breakthrough therapy designation, follows the company's COVID-19 vaccine. The approval is based on strong Phase 3 clinical trial results showing high efficacy. Moderna aims to have the vaccine available by the 2024/2025 respiratory virus season. The company reaffirms its 2024 sales expectations of around $4 billion.

Portfolio Pulse from Vandana Singh

May 31, 2024 | 5:16 pm

AMZN

BABA

GOOGL

META

TikTok has paused its European e-commerce expansion to focus on the U.S. market amid regulatory challenges. The move aims to solidify ByteDance's position in the U.S., where it faces potential bans and regulatory scrutiny. TikTok plans to increase its U.S. merchandise volume to $17.5 billion this year.

Portfolio Pulse from Shivani Kumaresan

May 31, 2024 | 5:08 pm

TTWO

Take-Two Interactive's CEO Strauss Zelnick hinted at a potential PC release for Grand Theft Auto 6 (GTA 6), though not immediately. The game is currently slated for a fall 2025 release on consoles, with a possible PC release following in 2026. This aligns with Rockstar's historical pattern of releasing PC versions after console debuts.

Portfolio Pulse from Franca Quarneti

May 31, 2024 | 4:54 pm

FXI

PDD

The U.S. government is intensifying its crackdown on trade rules that have benefited companies like Shein and Temu. This move could impact companies that rely on similar trade practices.

Portfolio Pulse from Benzinga Newsdesk

May 31, 2024 | 4:33 pm

ALK

ITA

PPA

SPR

The FAA continues to enforce stringent oversight on Boeing Co. (NYSE:BA) due to safety and quality-control issues with the 737 MAX. Boeing must implement a comprehensive safety management system and provide regular updates on their progress. The FAA has halted production expansion and increased inspections. Boeing's stock has declined 16% over the past year.

Portfolio Pulse from Shivani Kumaresan

May 31, 2024 | 4:26 pm

AMD

BNGE

INTC

NVDA

TINY

Intel Corp (NASDAQ: INTC) is shifting its focus to private data storage solutions in anticipation of increased AI product demand. The company plans to integrate AI capabilities across various products and expects a slowdown in traditional data center demand. Intel's data center and AI division saw a 5% revenue increase in Q1, and the company aims to ship chips for over 100 million AI PCs by 2025. Intel faces competition from Nvidia Corp (NASDAQ: NVDA) and Advanced Micro Devices Inc (NASDAQ: AMD) in the AI market. Investors can gain exposure to Intel through ProShares Nanotechnology ETF (NYSE: TINY) and First Trust S-Network Streaming And Gaming ETF (NYSE: BNGE).

Portfolio Pulse from Anusuya Lahiri

May 31, 2024 | 4:25 pm