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TTE

TotalEnergies Marketing USA has announced a partnership with OK Petroleum to distribute its products in Long Island, NY. This strategic move aims to expand TotalEnergies' market presence and accessibility in the region, leveraging OK Petroleum's established distribution network.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 1:49 pm

FAT

FAT Brands Inc (NASDAQ:FAT), owner of Fatburger, is celebrating 4/20 with a special offering of its $4.20 Original Fatburger, available for one day only. Following last year's success with THC-infused ketchup in partnership with Kiva Confections, Fatburger continues the tradition with a special burger deal and a free shake for online orders throughout the month. The initiative is part of Fatburger's ongoing efforts to engage with the cannabis culture and cater to its customers' cravings, especially on 4/20, known for its association with marijuana and increased appetite.

Portfolio Pulse from Nina Zdinjak

April 19, 2024 | 1:45 pm

NVDA

TDIV

TSM

XNTK

Taiwan Semiconductor Manufacturing Co (TSM) is introducing a pricing premium for chips made outside Taiwan, driven by the need to expand globally amid tensions with China and rising costs. This strategy, highlighted by CEO CC Wei, aims to cover increased operational expenses in various locations and aligns with efforts to reduce semiconductor supply reliance on Taiwan. TSM, a key supplier to Nvidia Corp (NVDA), reported strong Q1 net profit and revenue growth expectations from AI chip demand, despite anticipating a slight gross margin dip due to higher costs. TSM plans to increase its U.S. investment to $65 billion, including advanced 2-nanometer chip production by late 2025, aiming for a gross margin above 53%. TSM stock has risen 52% in the past year, with exposure available through ETFs like TDIV and XNTK.

Portfolio Pulse from Anusuya Lahiri

April 19, 2024 | 1:35 pm

BMY

GILD

JNJ

LEGN

NVS

TSVT

The FDA mandates boxed warnings for all CAR-T-based blood cancer therapies, including those by Bristol Myers Squibb, Johnson & Johnson, and others, due to risks of secondary cancers. Updates to labels and lifelong monitoring for secondary malignancies are required.

Portfolio Pulse from Vandana Singh

April 19, 2024 | 1:28 pm

AAPL

BABA

CGRO

PGJ

Alibaba Group Holding Ltd (NYSE:BABA) has launched a 3D shopping app for Taobao, designed for Apple Inc's (NASDAQ:AAPL) Vision Pro headset, marking a new era for online retail in China. The app, which offers an immersive view of products, is currently in its testing phase and will officially launch in China alongside the Vision Pro. Alibaba's expansion efforts include a live commerce subsidiary and significant growth in its global e-commerce division. BABA shares have fallen over 26% in the last 12 months, with exposure available through Invesco Golden Dragon China ETF (NASDAQ:PGJ) and Tidal Trust II CoreValues Alpha Greater China Growth ETF (NYSE:CGRO).

Portfolio Pulse from Anusuya Lahiri

April 19, 2024 | 1:13 pm

GOOG

GOOGL

The U.K.'s Information Commissioner’s Office (ICO) has expressed concerns over Google's Privacy Sandbox, suggesting it may not adequately protect consumer privacy. This initiative aims to phase out third-party cookies by the second half of 2024, raising issues about potential impacts on competition in the digital advertising sector. The ICO's findings and dialogue with the Competition and Markets Authority (CMA) highlight regulatory scrutiny over Google's privacy measures and their implications for the online advertising industry.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 1:04 pm

AMZN

Amazon Inc. (NASDAQ:AMZN) has been secretly gathering intelligence on competitors for nearly a decade through Big River Services International, a covert operation originating from a 2015 plan named 'Project Curiosity'. Big River sold goods on e-commerce platforms like eBay, Shopify, Walmart, and Amazon, using sales data to inform Amazon's business strategies. This operation is revealed as Amazon faces antitrust charges from the U.S. FTC and 17 states for marketplace practices.

Portfolio Pulse from Benzinga Neuro

April 19, 2024 | 12:55 pm

MAXN

Maxeon Solar Technologies, Ltd. (NASDAQ:MAXN) has filed a patent infringement lawsuit against REC Solar Holdings AS in the Eastern District of Texas. The lawsuit alleges REC Solar's infringement of Maxeon's patents related to TOPCon solar cell technology. Maxeon, a leader in solar innovation, holds over 1,650 granted patents and more than 330 pending applications, covering technologies such as IBC, Shingled Hypercell, and TOPCon. Maxeon's Associate General Counsel, Marc Robinson, emphasized the company's commitment to fair competition and its intent to enforce its patent rights vigorously.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:33 pm

CRMD

CorMedix Inc. announced that the Centers for Medicare & Medicaid Services (CMS) has granted a Transitional Drug Add-On Payment Adjustment (TDAPA) for its product DefenCath. This decision is expected to significantly enhance the reimbursement landscape for DefenCath, potentially improving its market penetration and sales.

Portfolio Pulse from Benzinga Newsdesk

April 19, 2024 | 12:31 pm

TSLA

Tesla's lead Cybertruck engineer, Wes Morrill, questioned the practicality of GM's 'CrabWalk' feature on social media, a feature that allows vehicles to move diagonally. Morrill revealed Tesla had explored a similar feature but found it lacked real-world use and was difficult to control. The discussion also touched on Tesla's own 'fart mode,' highlighting features with questionable utility. GM's CrabWalk, first introduced on the Hummer EV, is touted as enhancing off-roading capabilities. The 2024 Sierra EV Denali Edition 1, featuring CrabWalk, boasts a 440-mile range, slightly exceeding the Cybertruck's range. GMC's U.S. deliveries fell nearly 5% in Q1, despite selling 1,668 units of the Hummer EV.

Portfolio Pulse from Anan Ashraf

April 19, 2024 | 12:30 pm