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LAZR

Luminar Technologies, Inc. (LAZR) has strengthened its executive team by hiring Dr. David Foster as Executive Vice President of Engineering and John Pinette as Senior Vice President of Communications. Dr. Foster brings a wealth of experience from leading tech companies like Lyft, Apple, Microsoft, and Amazon, having launched major products like the iMac and Kindle. John Pinette has a strong background in communications, having worked for Meta, Microsoft, and Google. Their appointments come at a crucial time as Luminar prepares for the production and deployment of its LiDAR technology in passenger cars, aiming to enhance vehicle safety.

Portfolio Pulse from Benzinga Newsdesk

April 12, 2024 | 4:55 pm

AAPL

Apple Inc (AAPL) is anticipated to report its Q2 financial results on May 2, 2024. Analysts predict a strong second half of fiscal 2024, despite an expected 11% year-over-year decline in iPhone revenue to $45.9 billion. Goldman Sachs analyst Michael Ng maintains a Buy rating on Apple but lowers the price target from $232 to $226. The report highlights potential catalysts including the WWDC event, AI product reveals, new product launches, and the iPhone 16 cycle. Services revenue is expected to grow by 14% to $23.9 billion, with AppleTV+ also showing strength. Apple is expected to raise its quarterly dividend and announce a new share buyback program.

Portfolio Pulse from Chris Katje

April 12, 2024 | 4:51 pm

AMGN

Recent analysis of Amgen's (NASDAQ:AMGN) options activity shows a bearish sentiment among traders, with 53% engaging in bearish trades. The analysis highlighted unusual trading volume, with a focus on put options, indicating a potential price target range for AMGN between $140.0 and $470.0. Despite this bearish outlook, Amgen remains a leader in biotechnology, with a diverse portfolio of therapeutics and recent acquisitions aimed at expanding its offerings in rare diseases. The current market status of AMGN shows a slight decrease in stock price, with an RSI indicating a neutral position.

Portfolio Pulse from Benzinga Insights

April 12, 2024 | 4:31 pm

GNS

Genius Group Ltd (NYSE:GNS) has launched Singapore Genius City, its first Sovereign AI Education Ecosystem, offering AI education and acceleration courses in Singapore's Central Business District and online through GeniusU. The initiative includes personalized AI Avatars and Assistants, with plans for an AI Summit and certification programs in September 2024. GNS shares rose by 0.85% to $0.4730.

Portfolio Pulse from Shivani Kumaresan

April 12, 2024 | 4:26 pm

AMZN

GOOG

IDGT

MRVL

MSFT

SPRX

Marvell Technology Inc (NASDAQ:MRVL) is poised for significant growth with its AI accelerators for Amazon, Google, and a potential deal with Microsoft, according to analysts. Needham analyst Quinn Bolton reiterated a Buy rating with a price target of $95, highlighting Marvell's growth opportunities in custom computing, cloud optics, and more. Marvell aims for AI revenue to exceed $2.5 billion by fiscal 2026 and targets a 20% share of the Data Center TAM, expected to exceed $75 billion by 2028. The company announced major deals with Amazon and Google and is developing an AI accelerator for a potential deal with Microsoft, which could be larger than the Amazon and Google engagements combined. Rosenblatt analyst Hans Mosesmann also maintained a Buy rating with a $100 price target, noting Marvell's competitive roadmap in switching and interconnect markets. Marvell stock gained 80% in the last 12 months and can be accessed through ETFs like IDGT and SPRX.

Portfolio Pulse from Anusuya Lahiri

April 12, 2024 | 4:23 pm

ROBT

Portfolio Pulse from Shanthi Rexaline

April 12, 2024 | 4:13 pm

BBY

LOW

TGT

WMT

At the JPMorgan Retail Round-Up Conference 2024, Christopher Horvers highlighted Wayfair, Lowe's, and Best Buy as top stock picks in the retail sector, citing trends like stable U.S. consumer behavior, a resurgence in denim and activewear, and a focus on consumer value. Wayfair is expected to see growth from sales and margins due to demand for home goods. Lowe's is anticipated to benefit from increased demand for outdoor patio products. Best Buy could see a turnaround from back-to-school sales, contrasting with headwinds faced by Walmart, Target, and Home Depot.

Portfolio Pulse from Surbhi Jain

April 12, 2024 | 3:55 pm

CPNG

Coupang, Inc. (NYSE:CPNG) shares rose after announcing a 58% increase in membership fees for new customers starting Saturday. The service, with 14 million subscribers, offers benefits like next-day shipping and video streaming. The stock's trading volume surged, with over 23 million shares traded, significantly above its 100-day average.

Portfolio Pulse from Erica Kollmann

April 12, 2024 | 3:55 pm

LLY

NVO

Eli Lilly lost a legal battle against RXCompoundStore.com, preventing them from stopping the pharmacy's marketing of a version of tirzepatide, a key ingredient in Lilly's diabetes and weight loss drugs, Mounjaro and Zepbound. U.S. District Judge Roy Altman ruled that Lilly's actions were an attempt to enforce federal law through state law, a task reserved for the FDA. Lilly had sued ten entities for selling unauthorized versions of Mounjaro. Similarly, Novo Nordisk is taking legal action against compounding pharmacies for selling altered versions of semaglutide, used in its weight-loss drug Wegovy, after finding impurities in these products.

Portfolio Pulse from Vandana Singh

April 12, 2024 | 3:54 pm

DOGEUSD

Ahead of DOGE Day on April 20, Dogecoin (CRYPTO: DOGE) exhibits bullish sentiment with a notable 11% price surge over the past week, nearing the $0.20 mark. The event celebrates the meme coin's culture and has sparked positive predictions from traders, expecting a significant price movement beyond $0.25. Dogeverse's successful $1.7 million presale and high trading volume also contribute to the optimistic outlook. High open interest and recent liquidation trends indicate bullish sentiment among traders.

Portfolio Pulse from Khyathi Dalal

April 12, 2024 | 3:46 pm