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SBUX

Starbucks Corporation (NASDAQ:SBUX) reported disappointing quarterly results with a decline in same-store sales and traffic, leading to a 12% drop in shares. The company lowered its fiscal 2024 forecast, expecting lower revenue growth and flat to low single-digit earnings growth. Despite the downturn, Starbucks is implementing a turnaround plan, including a new app for non-loyalty members, menu innovations, and significant supply chain cost savings.

Portfolio Pulse from Upwallstreet

May 01, 2024 | 4:07 pm

CTMX

CytomX Therapeutics shares are trading higher following the announcement that it will report its Q1 2024 results and provide an update on the initial CX-904 Phase 1a dose escalation on May 8, 2024.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 3:54 pm

BAM

BEP

IYW

MSFT

XLK

Microsoft Corp, Brookfield Asset Management Ltd, and Brookfield Renewable Partners LP have entered a five-year global renewable energy agreement to deliver over 10.5 gigawatts of new renewable energy capacity between 2026 and 2030, mainly in the U.S. and Europe, with potential expansion to other regions. This move, costing over $10 billion, aims to support Microsoft's cloud services demand and grid decarbonization, setting a new record for corporate renewable electricity purchases. Microsoft's commitment to match its electricity consumption with zero-carbon energy by 2030 is reinforced by this agreement.

Portfolio Pulse from Shivani Kumaresan

May 01, 2024 | 3:49 pm

DOGEUSD

'Dogecoin Millionaire' Glauber Contessoto argues that fair launches for meme coins don't exist due to the advantage of snipers and bots, making it impossible for average investors to compete. He suggests supporting projects with solid teams that understand these challenges and can protect their communities. Contessoto's own experience with Dogecoin, where he saw his fortune drop significantly, underscores his caution against chasing so-called fair launches.

Portfolio Pulse from Khyathi Dalal

May 01, 2024 | 3:43 pm

TSLA

Tesla has reportedly decided to move away from its next-generation 'Gigacasting' manufacturing process, according to sources cited by Reuters. This decision marks a significant shift in the company's production strategy, potentially impacting its efficiency and cost structure in manufacturing electric vehicles.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 3:28 pm

FLEX

SPDW

VGT

Flex Ltd (NASDAQ:FLEX) saw its stock decline by about 9% after reporting a fiscal Q4 2024 net sales decline of 11.7% year-on-year to $6.17 billion, despite beating analyst estimates. The company also provided a weaker than expected outlook for fiscal Q1 2025 and fiscal year 2025. Flex is considered an AI beneficiary, expected to gain from investments by major tech companies and the next Apple product cycle. Its stock has gained 89% in the last 12 months, and exposure to Flex can be gained through ETFs like Vanguard Information Tech ETF (NYSE:VGT) and SPDR Portfolio Developed World Ex-US ETF (NYSE:SPDW).

Portfolio Pulse from Anusuya Lahiri

May 01, 2024 | 3:04 pm

AAPL

AMZN

GOOG

META

MSFT

NVDA

QQQ

SMCI

SPY

TSLA

Super Micro Computer Inc (SMCI) experienced a significant drop, illustrating the volatility and risks in artificial intelligence (AI) investments. The article emphasizes the importance of prudent investment strategies, highlighting the differences between SMCI and other tech companies like Nvidia (NVDA). It also discusses the broader stock market's dependence on Federal Reserve decisions, with a focus on the upcoming FOMC meeting. Additionally, it provides insights into current money flows in major tech stocks and sectors, including the performance of gold, oil, and Bitcoin.

Portfolio Pulse from The Arora Report

May 01, 2024 | 2:57 pm

PFE

Pfizer is advancing in securing retail contracts for its RSV vaccine, which performed as expected in the quarter. Additionally, a potential patent term extension for heart disease drug Vyndamax could prolong its U.S. market exclusivity until December 2028.

Portfolio Pulse from Benzinga Newsdesk

May 01, 2024 | 2:54 pm

CMG

Financial giants have shown a bullish trend on Chipotle Mexican Grill (CMG) options, with a significant focus on a price range between $2570.0 and $3450.0. Analysis of 17 unusual trades revealed a mix of bullish and bearish sentiments, with a higher volume of calls than puts. Chipotle, the largest fast-casual chain in the U.S., reported systemwide sales of $9.9 billion in 2023. The stock is currently down by -0.94%, trading at $3130.03, with analysts giving mixed reviews and target prices ranging from $2750 to $3340.

Portfolio Pulse from Benzinga Insights

May 01, 2024 | 2:45 pm

NVO

Denmark's healthcare authority has decided to prioritize prescribing less expensive drugs over GLP-1 drugs like Novo Nordisk's Ozempic for type 2 diabetes patients. This decision, aimed at cost-effectiveness, could lead to nearly half of all current GLP-1 drug users switching to cheaper alternatives, despite the popularity of drugs like Ozempic for their weight-loss benefits. The change will take effect from Nov. 25, impacting Novo Nordisk's (NYSE:NVO) market for Ozempic and Rybelsus, as well as Eli Lilly's Trulicity.

Portfolio Pulse from Benzinga Neuro

May 01, 2024 | 2:44 pm