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AAPL

Apple reported Q2 2024 Mac sales of $7.45 billion, indicating the company's performance in the computer hardware sector for the quarter.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:31 pm

COIN

Coinbase Global (NASDAQ:COIN) reported Q1 earnings with total revenue of $1.64 billion, surpassing the consensus estimate of $1.34 billion. GAAP EPS was $4.40. Net revenue increased by 72% QoQ to $1.6 billion, with transaction revenue at $1.08 billion. Institutional trading volume and active accounts reached all-time highs. Net income was $1.2 billion, including $737 million in pretax crypto asset gains. Bitcoin and Ethereum represented significant portions of trading and transaction revenue. The company's Layer 2 platform, Base, saw an 8x increase in developer activity. Coinbase anticipates Q2 subscription and services revenue between $525 million to $600 million. After the report, COIN shares dropped 3.25% in after-hours trading.

Portfolio Pulse from Chris Katje

May 02, 2024 | 8:31 pm

AAPL

Apple reported iPhone sales of $45.93B for Q2 2024, showcasing the company's financial performance and product demand.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 8:30 pm

SBUX

VTI

XLY

Starbucks Corp. (NASDAQ:SBUX) CEO Laxman Narasimhan faces challenges as shares drop 18% after a disappointing quarterly report, marking the first sales decline since late 2020. Efforts to improve include enhancing service efficiency, offering discounts, introducing new products, and expanding food offerings. Despite these efforts, Starbucks has lowered its full-year revenue growth forecast and expects flat adjusted earnings per share. Analysts are skeptical about a quick recovery, citing concerns over pricing strategy and menu complexity. Starbucks stock has lost over 34% in the last 12 months, affecting investors in SBUX directly and indirectly through ETFs like Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and Vanguard Total Stock Market Index Fund ETF (NYSE:VTI).

Portfolio Pulse from Shivani Kumaresan

May 02, 2024 | 8:11 pm

BTC-USD

DOGE-USD

ETH-USD

SHIB-USD

SOL-USD

Cryptocurrency markets saw a rebound on Thursday, with Bitcoin and other major cryptocurrencies like Ethereum, Solana, Dogecoin, and Shiba Inu posting gains. Open interest in Bitcoin hit its lowest in two months, while notable developments included PayPal allowing U.S. users to buy cryptocurrencies and MicroStrategy launching a decentralized identity service. BlackRock anticipates renewed interest in Bitcoin ETFs. Top gainers included Arweave, Pepe, and Axelar. Analysts suggest Bitcoin needs to reclaim higher levels to confirm a positive trend.

Portfolio Pulse from Khyathi Dalal

May 02, 2024 | 8:09 pm

LLY

NVO

In Britain, online pharmacies and slimming clinics are reducing prices for Novo Nordisk's Wegovy and Eli Lilly's Mounjaro due to easing supply shortages and increasing competition. This price reduction reflects the high demand for these weight-loss drugs. Despite the competitive pricing, concerns about patient care continuity persist. In Denmark, Novo Nordisk has lowered the price of its diabetes drug Ozempic following government subsidy restrictions. NVO shares dropped 4.02% to $124.02.

Portfolio Pulse from Vandana Singh

May 02, 2024 | 8:01 pm

REGN

SNY

Regeneron Pharmaceuticals Inc (NASDAQ:REGN) reported a Q1 adjusted EPS of $9.55, down 5% Y/Y, missing consensus estimates. Sales were $3.15 billion, below the expected $3.22 billion. Eylea US sales dropped 16% to $1.2 billion due to market dynamics. However, Dupixent sales, recorded by Sanofi SA (NASDAQ:SNY), rose 24.9% to 2.84 billion euros. Regeneron's oncology treatment Libtayo sales increased by 49% to $264 million. The company is also advancing in obesity treatment, with promising results from combining semaglutide with trevogrumab and garetosmab in non-human primates. Over 400 subjects have been dosed with trevogrumab without significant safety concerns. Part B of the study on muscle preservation in obese participants is set to start midyear, with results expected in the second half of 2025. REGN shares rose 3.5% to $935.20.

Portfolio Pulse from Vandana Singh

May 02, 2024 | 7:49 pm

NIO

Whale investors have shown a bullish stance on NIO (NYSE:NIO), with Benzinga's options scanner revealing 15 unusual options trades. The sentiment among these trades is mixed, with 53% bullish and 40% bearish. Significant options activity includes both puts and calls, with a focus on a price band between $2.5 and $8.0. NIO, a leading electric vehicle maker, has seen its stock price increase by 6.45% to $5.61, with an RSI indicating it may be approaching overbought territory. An analyst from Macquarie has downgraded NIO to Neutral with a price target of $5.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 7:47 pm

GKOS

Glaukos Corporation (NYSE:GKOS) reported a Q1 adjusted EPS loss of $(0.70), missing consensus estimates but beat sales expectations with $85.6 million, a 16% Y/Y increase. The company expects 2024 sales between $357 million and $365 million. Analysts are optimistic, highlighting the success of the iDose and iStent products and predicting significant growth. William Blair rates GKOS as Outperform, and other firms have raised their price targets, leading to a 6.69% increase in GKOS shares to $105.53.

Portfolio Pulse from Vandana Singh

May 02, 2024 | 7:36 pm

TSLA

XPEV

XPeng Inc. (NASDAQ:XPEV) shares rose after reporting a 33% year-over-year increase in April EV deliveries, totaling 9,393 vehicles. This includes 1,959 X9 vehicles, with nearly 10,000 units delivered since its launch. Year-to-date, XPeng has delivered 31,214 EVs, marking a 23% increase from the previous year. XPeng's CEO welcomed Tesla Inc.'s (NASDAQ:TSLA) full self-driving software approval in China, anticipating a decade of 'Smart EVs'. Analysts have a mixed outlook on XPEV, with an average 12-month price target of $11.33, suggesting potential upside.

Portfolio Pulse from Erica Kollmann

May 02, 2024 | 7:26 pm