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BA

Boeing Co. (NYSE:BA) is planning to enter Asia's urban air mobility market by 2030 with flying cars, developing eVTOL vehicles at Wisk Aero in California. The company aims to obtain U.S. certification before expanding into Asia, with a new R&D base opened in Nagoya, Japan. This move comes as Boeing faces challenges in its core aircraft manufacturing business, including safety concerns and a significant drop in commercial aircraft deliveries, leading to a 32% decline in its stock price year-to-date.

Portfolio Pulse from Anan Ashraf

April 19, 2024 | 9:26 am

AMZN

GOOGL

META

Meta Platforms Inc. (META) announced its Llama 3 AI model outperformed AI models from Google (GOOGL, GOOG), Anthropic, and Mistral AI in benchmark tests. OpenAI's GPT-4 was notably absent from the comparison. Llama 3 will soon be available to cloud providers like Amazon's AWS and model libraries such as Hugging Face. The model excels in text-based responses, showing improvements in diversity, reasoning, and code-writing abilities.

Portfolio Pulse from Rounak Jain

April 19, 2024 | 9:14 am

AXS

Kind, a Web3 content creator agency based in Latin America, is revolutionizing the Web3 space by supporting over 100 creators globally. Founded within the Axie Infinity ecosystem, Kind emphasizes freedom, community, and creativity, extending its philosophy to investments, partnerships, and community engagement in the gaming sector. Founders Osito Lima and Zio shared their journey from traditional careers to Web3, highlighting their commitment to empowering creators. They also discussed their favorite Web3 games, including Axie Infinity, Pixels, Apeiron, and Wild Forest, and their admiration for the CyberKongz community.

Portfolio Pulse from Jose Rodrigo Safdiye

April 19, 2024 | 8:50 am

NFLX

Netflix, Inc. (NASDAQ:NFLX) shares dropped after its Q1 earnings release, despite beating estimates on earnings, revenue, and subscriber numbers. The company warned of a potential sequential subscriber decline in Q2 and issued below-consensus revenue guidance. Netflix also announced it would stop providing quarterly paid membership numbers starting in 2025/Q1, raising concerns about transparency in paid membership growth. Analysts highlighted Netflix's solid business performance but questioned its growth potential as a 'true tech company', citing the temporary nature of password sharing crackdown benefits and a cautious approach to AI and live sports.

Portfolio Pulse from Shanthi Rexaline

April 19, 2024 | 8:44 am

AAPL

NVDA

TSM

Sherman Lin, CEO of the Taiwan Stock Exchange, highlighted Taiwan's significant role in the global AI and semiconductor industries, attributing the strong performance of the Taiwan Weighted Index to high demand for chips and a robust server supply chain. Taiwan Semiconductor (TSMC), as the world's largest contract chipmaker and a key supplier to companies like Apple and NVIDIA, underscores Taiwan's dominance. Despite challenges like the U.S. elections and military conflicts, Taiwan's resilience and strategic 'chip diplomacy' keep it at the forefront of the semiconductor industry.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 8:39 am

ERIC

Ericsson's Vonage and Singtel have announced a partnership aimed at accelerating global enterprise and telco innovation and digital transformation. This collaboration will focus on driving rapid application development across multiple markets through the use of network, edge, and communications application programming interfaces (APIs).

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 8:23 am

RIVN

TSLA

Rivian Automotive Inc. is set to open a new dealership in Austin, Texas, on May 24, located approximately 14 miles from Tesla's gigafactory. This dealership is part of Rivian's expansion, with existing dealerships across several states. The Austin space will feature a 10,000-square-foot area with a rooftop patio and access to Lady Bird Lake's trail. Rivian's move into Texas, Tesla's home state, signifies its aim to compete directly with Tesla in the electric SUV and pickup truck market. Despite financial challenges, Rivian is working towards achieving gross margin profitability by the end of 2024.

Portfolio Pulse from Anan Ashraf

April 19, 2024 | 7:11 am

NFLX

Netflix Inc. (NASDAQ:NFLX) announced it will stop disclosing quarterly subscriber counts starting Q1 2025, aiming to focus on key business metrics. This decision comes after Netflix reported a significant subscriber growth of 9.3 million in Q1, surpassing expectations with a total of 269.6 million subscribers worldwide. The move has led to a decrease in Netflix's stock price, as analysts express concerns over the potential impact on investor confidence and the ability to model the company's future performance.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 6:47 am

TAK

Takeda has received U.S. FDA approval for ENTYVIO in subcutaneous form for maintenance therapy in adults with moderately to severely active Crohn's Disease. ENTYVIO is now available in the U.S. in both IV and subcutaneous forms for treating ulcerative colitis or Crohn's Disease.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 6:27 am

ARKB

ARKK

ARKZ

TSLA

Cathie Wood's Ark Investment Management increased its Tesla holdings by purchasing $13M worth of shares amid a price decline, and expanded its crypto exposure by investing in Bitcoin and Ethereum ETFs. Ark bought Tesla shares across three ETFs and added to its crypto ETF holdings, despite Tesla's stock pressure due to anticipated disappointing earnings and other concerns. Ark also reduced exposure to crypto-related stocks like Coinbase and Robinhood, focusing instead on crypto ETFs, with significant investments in ARKB and ARKZ, reflecting confidence in Bitcoin and Ethereum's growth.

Portfolio Pulse from Shanthi Rexaline

April 19, 2024 | 6:20 am