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BA

Boeing has completed the acquisition of GKN Aerospace's St. Louis site, ensuring the continued production and maintenance of essential components for the F/A-18 and F-15 programs. The deal includes the transfer of approximately 550 GKN employees to Boeing, though financial specifics of the transaction were not disclosed.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 6:13 pm

EL

MSFT

Microsoft Corporation and Estee Lauder Companies, Inc. have announced the creation of an AI Innovation Lab to develop solutions that enhance consumer connections and increase market speed with local relevancy for Estee Lauder's beauty brands. This collaboration, which began in 2017, leverages Microsoft's generative AI tools and Estee Lauder's data to innovate in the beauty industry. The partnership has already led to the development of a Voice-Enabled Makeup Assistant using Azure AI.

Portfolio Pulse from Nabaparna Bhattacharya

April 26, 2024 | 5:40 pm

IYG

JPM

XLF

JP Morgan Chase & Co. (NYSE:JPM) has opened a new Community Center branch in the Bronx, aiming to enhance financial access with a $5M investment. The branch, featuring modern design and technology, focuses on financial health through community engagement and advice. The construction was undertaken by Excel Construction, a local minority-owned firm. JPM's stock has seen a 43% increase over the past year, with first-quarter FY24 results showing a net revenue of $42.5 billion, an 8% increase year over year. Investors can also gain exposure to JPM through IShares U.S. Financial Services ETF (NYSE:IYG) and SPDR Select Sector Fund – Financial (NYSE:XLF).

Portfolio Pulse from Nabaparna Bhattacharya

April 26, 2024 | 5:33 pm

LRCX

MPWR

MRVL

MU

Semiconductor and chip stocks, including LRCX, MPWR, MRVL, and MU, are experiencing an uptick in their share prices following Microsoft's strong earnings report, potentially due to increased optimism around AI technologies.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 5:31 pm

CRM

FEPI

MRAD

Mizuho analyst Gregg Moskowitz reiterated a Buy rating on Salesforce Inc (NYSE:CRM) with a price target of $345 after attending Salesforce's World Tour in New York City. The event showcased AI innovations, including the general availability of Einstein Copilot and the Zero Copy Partner Network. These developments are expected to strengthen Salesforce's competitive position and ability to monetize GenAI. Salesforce's stock has gained 44% in the past 12 months, and investors can also gain exposure through ETFs like FEPI and MRAD.

Portfolio Pulse from Anusuya Lahiri

April 26, 2024 | 5:26 pm

IMO

Imperial Oil Limited (NYSE:IMO) reported a mixed first-quarter FY24 with an EPS of C$2.23, up from C$2.13 a year ago, but net income fell to C$1.20 billion from C$1.25 billion. Revenue slightly increased to C$12.3 billion. Upstream production and downstream throughput saw increases, with Kearl asset's production hitting a record high. Dividends paid amounted to C$278 million, with a declared Q2 dividend of C$0.60 per share. The company is also progressing with its Pathways Alliance carbon capture project. IMO shares dropped by 0.60% to $70.84.

Portfolio Pulse from Lekha Gupta

April 26, 2024 | 5:26 pm

META

MSFT

NVDA

Nvidia Corporation's (NVDA) stock is trading higher, influenced by positive earnings reports from Microsoft (MSFT) and Meta Platforms (META), both of which highlighted strong AI demand. Microsoft's and Meta's better-than-expected Q1 results and Meta's increased capex outlook have positively impacted AI and chip stocks, including Nvidia. Nvidia's shares have seen a significant increase, nearly 15% over the past five days, recovering from a 10% drop last Friday. Analyst Dan Ives emphasized the importance of AI spending, linking it to the 'fourth industrial revolution.'

Portfolio Pulse from Erica Kollmann

April 26, 2024 | 5:14 pm

PSX

Phillips 66 anticipates that the demand for gasoline and diesel will remain unchanged in 2024, as revealed during their conference call.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 5:09 pm

PSX

Phillips 66 announced during a conference call that its Rodeo facility is expected to produce 10,000 barrels of renewable jet fuel per day.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 4:41 pm

NIO

Deep-pocketed investors show a bearish trend in NIO's options, with a notable division in sentiment: 40% bullish and 50% bearish. The options activity suggests a price target range of $2.0 to $25.0 for NIO. The company, a leading electric vehicle maker, sold over 160,000 EVs in 2023. Recent options trading patterns and professional analyst ratings from Barclays and Macquarie reflect a cautious outlook, with price targets adjusted to $4 and $5, respectively.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 4:31 pm