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META

Meta Platforms Inc. (NASDAQ:META) CEO Mark Zuckerberg announced that the new version of Meta AI, powered by the Llama 3 model, has been positively received, with tens of millions of users trying it out. The initial rollout in English-speaking countries is going well, with plans to expand to more languages and countries. Zuckerberg highlighted Meta's product development strategy of releasing early versions to a limited audience, gathering feedback, and then improving the product. The Llama 3 AI model competes with Google Gemini and Anthropic's Claude 3, offering unique features like creating animations from still images.

Portfolio Pulse from Rounak Jain

April 25, 2024 | 11:05 am

KO

MSFT

PEP

PepsiCo Inc (NASDAQ:PEP) exceeded Q1 earnings and revenue expectations despite weaker U.S. demand and Quaker Oats recalls. Revenue grew 2.3% to $18.25 billion, and net income reached $2.04 billion. However, Pepsi shares fell 2% due to concerns over the struggling domestic market. Volume was pressured, with the beverage segment flat and food division volume down 0.5%. The North American Quaker Food division saw a 22% volume drop due to recalls. Despite domestic challenges, international segments showed growth. Pepsi reaffirmed its full-year outlook for organic revenue growth and core constant currency earnings per share increase. Meanwhile, The Coca Cola Company (NYSE:KO) announced a strategic partnership with Microsoft Corporation (NASDAQ:MSFT) to accelerate cloud and AI development, posing potential competition for Pepsi.

Portfolio Pulse from Upwallstreet

April 25, 2024 | 10:49 am

AULT

Ault Alliance's subsidiary, Sentinum, has entered into its first non-mining colocation/hosting agreement, leveraging the Tier 3 section of its roughly 100,000 square foot enterprise-class data center. This marks a significant expansion of Sentinum's service offerings beyond its traditional mining operations.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:42 am

SAGE

Sage Therapeutics projects its cash reserves and funding will sustain operations until 2026, despite expecting a decline in ZULRESSO revenues. The company foresees a reduction in operating expenses in 2024 compared to 2023 and does not expect any further milestone payments from collaborations for the remainder of 2024. The introduction of ZURZUVAE in the U.S. for treating PPD is anticipated to further decrease ZULRESSO's revenues over time.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:40 am

IIIN

Insteel Industries anticipates increased business momentum in the second half of FY24, fueled by a seasonal rise in construction activity, ongoing recovery in customer demand, and a positive shift in the macroeconomic landscape.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:40 am

VLO

Valero Energy announced the expected startup of its Diamond Green Diesel project, aimed at producing sustainable aviation fuel, in Q4 2024.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:27 am

BKNG

WEX

WEX has secured a new long-term agreement with Booking.com, effective April 2024, to continue as the preferred virtual card provider, supporting Booking.com's vision to simplify transactions in the travel industry. This partnership, which began in 2013, has WEX processing global payments for Booking.com.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:26 am

ACRV

Acrivon Therapeutics' stock price increased following the announcement of positive initial clinical data for ACR-368 and progress in its pipeline programs at a corporate R&D event.

Portfolio Pulse from Benzinga Newsdesk

April 25, 2024 | 10:13 am

AAPL

Frank Casanova, the lead marketer for Apple Inc.'s Vision Pro headset, has retired after 36 years with the company, amid a significant drop in demand for the headset. The Vision Pro, launched in early February with a base price of $3,499, has seen its shipment forecasts revised down from 700,000-800,000 units to 400,000-450,000 units for this year due to falling demand. This comes as Apple faces challenges in the Chinese market, not only with the Vision Pro but also with a 33% drop in iPhone sales in February compared to the previous year.

Portfolio Pulse from Ananya Gairola

April 25, 2024 | 9:58 am

TSLA

XPEV

Xpeng Inc.'s Vice Chairman, Brian Gu, expressed skepticism about the near-term commercial viability of robotaxis, suggesting a timeline of more than five years, contrary to Tesla Inc.'s more optimistic projections. Gu's comments were made at the Beijing auto show, highlighting the difference in expectations between the two companies regarding the future of autonomous driving technology. Despite the skepticism, there's acknowledgment of the technological advancements in China, with companies like Baidu Inc. and Pony.ai making progress in driverless taxis.

Portfolio Pulse from Benzinga Neuro

April 25, 2024 | 9:53 am