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The NASDAQ 100 is approaching a record close. Analysts believe the DOJ's case against Live Nation is weak. NASA confirms Boeing's Starliner launch delay due to a helium leak. Markets will be closed on Monday for Memorial Day.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 7:50 pm

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Cryptocurrency markets are up with Bitcoin and Dogecoin showing gains, while Ethereum lags despite the approval of a spot Ethereum ETF. Bitcoin saw significant whale purchases and low liquidation levels. Analysts predict bullish momentum for Bitcoin if prices hold over the weekend.

Portfolio Pulse from Khyathi Dalal

May 24, 2024 | 7:42 pm

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Tesla shares are trading higher despite the company reportedly reducing Model Y production at its Shanghai gigafactory.

Portfolio Pulse from Benzinga Newsdesk

May 24, 2024 | 6:56 pm

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Kabosu, the Shiba Inu dog that inspired the Doge meme and Dogecoin, has passed away at the age of 18. Tributes poured in from various sources, including Elon Musk and Dogecoin co-creator Billy Markus. Musk's tweet caused a brief spike in Dogecoin's price.

Portfolio Pulse from Chris Katje

May 24, 2024 | 6:42 pm

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NASA and Boeing are moving forward with the Starliner Crew Flight Test despite a stable helium leak in the spacecraft's propulsion system. The launch is targeted for June 1, with backup dates in early June. Boeing has faced significant delays and costs with the Starliner project, while SpaceX's Dragon capsule has been operational since 2020. A final review of the leak is scheduled for May 29.

Portfolio Pulse from Vandana Singh

May 24, 2024 | 6:10 pm

LLY

Eli Lilly (NYSE: LLY) has announced a significant increase in its investment in its Lebanon, Indiana manufacturing site, raising the total commitment to $9 billion. This expansion aims to boost production capacity for its antidiabetic and weight loss medications, Zepbound and Mounjaro. The company has also invested heavily in other U.S. and European sites, totaling over $18 billion in manufacturing investments. The Lebanon site is expected to create 200 full-time jobs and over 5,000 construction jobs, with operations beginning in late 2026.

Portfolio Pulse from Vandana Singh

May 24, 2024 | 6:04 pm

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Texas has surpassed California as the largest solar energy producer in the U.S., marking a significant shift in the green energy landscape. Texas' solar capacity has grown exponentially, and the state has also seen an increase in solar manufacturing. Key companies involved include Enphase Energy Inc (ENPH), Canadian Solar Inc (CSIQ), and Tesla Inc (TSLA). Investors may consider ETFs like Invesco Solar ETF (TAN), iShares Global Clean Energy ETF (ICLN), and First Trust NASDAQ Clean Edge Green Energy Index Fund (QCLN) for exposure to the solar energy sector.

Portfolio Pulse from Hayden Buckfire

May 24, 2024 | 6:02 pm

ENPH

Enphase Energy, Inc. (NASDAQ:ENPH) shares surged following President Biden's announcement of increased tariffs on Chinese solar imports. The tariffs, raised from 25% to 50%, aim to curb cheap Chinese products and protect American jobs. This move is expected to benefit U.S.-based solar companies like Enphase by reducing competition and boosting market share.

Portfolio Pulse from Vaishali Prayag

May 24, 2024 | 6:01 pm

GDYN

Wedbush analyst Moshe Katri initiated coverage on Grid Dynamics Holdings Inc (NASDAQ: GDYN) with an Outperform rating and a price target of $13, citing strong first quarter and 2024 results, GenAI initiatives, and significant partnership opportunities. Katri expects mid-single-digit and mid-double-digit revenue growth between 2024 and 2025, respectively.

Portfolio Pulse from Anusuya Lahiri

May 24, 2024 | 5:57 pm

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The Nasdaq 100 surged over 1% on Friday, setting the stage for a record high close and marking its fifth consecutive week of gains. The S&P 500 rose 0.7%, while small-cap stocks saw robust gains. AI-linked stocks and sectors like chipmakers, solar, and power utilities performed well. Treasury yields remained stable, and the U.S. dollar index fell, providing relief to precious metals and crude oil. Several companies saw significant stock movements due to earnings reports.

Portfolio Pulse from Piero Cingari

May 24, 2024 | 5:54 pm