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On CNBC's 'Halftime Report Final Trades,' experts highlighted Amazon's launch in South Africa, Alphabet's operating income increase and AI focus, AvalonBay's senior notes offering, and Garmin's strong Q1 revenue growth. Each company's stock showed positive movement in Tuesday's session.

Portfolio Pulse from Avi Kapoor

May 08, 2024 | 1:28 pm

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) shares fell after reporting Q1 financial results, with revenue beating estimates at $1.204 billion but earnings missing with a loss of $1.48 per share. The company produced 13,980 vehicles, delivered 13,588, and reaffirmed its 2024 production guidance of 57,000 vehicles. Rivian ended the quarter with $7.858 billion in cash and is focused on reaching profitability and managing expenses. Analysts from Mizuho and Needham provided mixed ratings and adjusted price targets.

Portfolio Pulse from Adam Eckert

May 08, 2024 | 1:26 pm

AAPL

Apple Inc. (NASDAQ:AAPL) announced the launch of new iPad models with advanced chips and displays on May 7, 2024, expected to drive significant revenue growth. The iPad Pro now features the M4 chip and OLED displays, while the iPad Air is updated with the M2 chip. Goldman Sachs forecasts double-digit year-over-year growth in iPad revenue for F3Q24E, supported by clean channel inventory and strong demand, especially in Greater China. The new iPads, along with updated accessories like the Magic Keyboard and Apple Pencil Pro, are set to enhance Apple's product mix and pricing strategy. Goldman Sachs maintains a Buy rating on AAPL with a 12-month target price of $226.

Portfolio Pulse from Piero Cingari

May 08, 2024 | 1:21 pm

ACB

Aurora Cannabis Inc (NASDAQ:ACB) experienced a Golden Cross, indicating a potential uptrend in its stock price ahead of its Q1 earnings report on May 20. Despite a significant drop in shares over the past years, the stock has risen 2.46% over the past year and 39.86% year-to-date. The company has focused on the medical cannabis market, especially in Germany and Australia, aiming for higher margins. However, analysts from BTIG express caution, citing challenges in Canadian and U.S. cannabis regulation changes and banking bill progress. The Golden Cross suggests a moderately bullish trend, but investors are advised to remain vigilant.

Portfolio Pulse from Surbhi Jain

May 08, 2024 | 1:17 pm

AAPL

TSM

TSMC is increasing its N3E process capacity for Apple's iPad Pro and will also support the iPhone and Mac series with N3B process capacity. This expansion may lead to TSMC's overall 3nm chip output not meeting demand, as reported by industry sources.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:14 pm

BTCUSD

Hong Kong announced its first-ever ETF liquidity fund of approximately $128 million, established by LD Capital, Antalpha Ventures, and Highblock, to enhance liquidity and mitigate risks in trading crypto-focused ETFs. This initiative accompanies the launch of six new ETFs, including Bitcoin and Ethereum spot ETFs, aiming to improve capital flow efficiency and investor confidence in the cryptocurrency market.

Portfolio Pulse from Murtuza Merchant

May 08, 2024 | 1:13 pm

DKS

DICK'S Sporting Goods (NYSE:DKS) has entered into multi-year partnerships with the Boston Celtics and Red Sox, becoming their Official Sporting Goods Retail Partner. This move, coinciding with the opening of DICK'S House of Sport in Prudential Center, aims to deepen its ties with the Boston community through an innovative retail experience.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:12 pm

ADBE

Adobe has launched Acrobat AI Assistant, a generative AI-powered tool for enterprise customers, enhancing productivity in document management. This new feature, available as an add-on subscription for all Reader and Acrobat enterprise and individual customers, integrates seamlessly into Acrobat workflows across desktop, web, and mobile. It enables employees to generate insights and create various documents with ease, backed by enterprise-grade data security and governance.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:07 pm

CVNA

Carvana's Q1 2024 EV Trends Report highlights the growth potential of the used EV market, with used EV sales mix reaching a new high of 4.3% of total sales. The report notes a narrowing price gap between used EVs and ICE vehicles, and a significant portion of Carvana's EV and PHEV sales meeting eligibility for the Federal Used Clean Vehicle Credit, indicating improved affordability.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:03 pm

CHRS

Coherus Biosciences has announced a collaboration with the Cancer Research Institute to evaluate a novel combination of LOQTORZI and ENB Therapeutics' ENB-003 for the treatment of ovarian cancer. This partnership aims to explore innovative treatment options and potentially improve outcomes for patients with this challenging disease.

Portfolio Pulse from Benzinga Newsdesk

May 08, 2024 | 1:01 pm