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AAPL

TSLA

Wedbush analyst Dan Ives highlighted Apple Inc. (AAPL) and Tesla Inc. (TSLA) as the only two companies successfully navigating the complex relationship between the U.S. and China, especially in the context of artificial intelligence and market challenges. Despite recent struggles in China, with Apple experiencing a 19% drop in iPhone sales and Tesla a 9% revenue decline, Ives remains optimistic about their prospects. He credits their success to superior product quality and strategic moves, such as Tesla's partnership with Baidu. Apple's shares rose 3.4%, and Tesla's surged 12.50% recently.

Portfolio Pulse from Rounak Jain

April 29, 2024 | 1:52 pm

KO

MSFT

NVDA

Microsoft Corporation (NASDAQ:MSFT) exceeded third-quarter earnings expectations with a 17% YoY revenue increase to $61.86 billion and net income of $21.94 billion. The company's Azure cloud and AI services saw significant growth, contributing to its commercial cloud revenue of $35.1 billion. Microsoft's investments in Nvidia Corporation (NASDAQ:NVDA) GPUs for AI development have led to a data center capacity challenge, mirroring Nvidia's own AI demand pressures. A new $1.1 billion agreement with The Coca-Cola Company (NYSE:KO) aims to accelerate AI transformation across Coca-Cola's global business. Despite strong performance, Microsoft anticipates near-term capacity constraints and plans a significant rise in capital expenditures for cloud infrastructure.

Portfolio Pulse from Upwallstreet

April 29, 2024 | 1:51 pm

ALB

Albemarle (NYSE:ALB) has seen unusual options activity, with a mix of bullish and bearish sentiments among high-rolling investors, as tracked by Benzinga. The activity includes 10 options trades, with a bullish sentiment in 50% of the trades. Significant investors are targeting a price range of $90.0 to $125.0 for ALB over the next three months. The company, a leading lithium producer for batteries, especially in electric vehicles, has its stock currently up by 4.95% at $122.67. Analyst ratings in the last month have been positive, with an average target price of $149.0.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 1:47 pm

IMMX

Immix Biopharma has been awarded the European Union Orphan Drug Designation for NXC-201, aimed at treating multiple myeloma. This designation grants NXC-201 ten years of market exclusivity in the EU, access to the EU centralized authorization procedure, and reduced fees for various regulatory and marketing processes.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:39 pm

JKS

JinkoSolar Holding Co Ltd (NYSE:JKS) reported Q1 fiscal 2024 results with a slight revenue miss but a strong outlook, leading to a share price rally. Revenue fell 1.2% Y/Y to $3.19 billion, below the $3.25 billion consensus. However, shipments surged 51.2% Y/Y to 21,907 MW. Gross margin decreased to 11.9% from 17.3% Y/Y, and the company reported a loss from operations. Despite this, adjusted net income was reported, and the company is optimistic about future demand, especially for N-type technology, with plans to limit capacity expansion to focus on advanced N-type capacity.

Portfolio Pulse from Akanksha Bakshi

April 29, 2024 | 1:32 pm

AZN

DSKYF

DSNKY

AstraZeneca reported positive results from a metastatic breast cancer treatment study for Enhertu, showing significant improvement in progression-free survival. Additionally, AstraZeneca's Truqap, in combination with Faslodex, is recommended for approval in the EU for certain breast cancer patients. Daiichi Sankyo, co-developer of Enhertu, also plays a role in these developments.

Portfolio Pulse from Vandana Singh

April 29, 2024 | 1:26 pm

RDZN

Roadzen Inc. (Nasdaq: RDZN) has entered a five-year partnership with Dalmia Transport & Logistics to implement its DrivebuddyAI technology, aimed at enhancing fleet safety and operational efficiency. The technology, which combines ADAS and telematics, was chosen after a three-month validation process. This partnership underscores Roadzen's growing global presence and its potential inclusion in the Russell 2000, as noted by Piper Sandler & Co. and Jefferies Financial Group Inc.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:22 pm

BYDDF

LI

NIO

TSLA

China's industrial association has released a list of 76 intelligent connected vehicle models that comply with the country's auto data security standards, including models from Tesla, BYD, Li Auto, Lotus, Hozon New Energy Automobile, and NIO. The vehicles underwent tests for compliance with data anonymization, non-collection of in-car data, in-car data processing, and notification of personal information processing, starting in November 2023.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:19 pm

MULN

Mullen Automotive's stock is trading higher following the announcement that the California Air Resources Board has approved the 2024 Mullen THREE for inclusion in the Hybrid and Zero-Emission Truck and Bus Voucher Incentive Project.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:17 pm

HCM

HUTCHMED's stock is trading higher following the announcement on Friday of a positive CHMP opinion for Fruquintinib.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 1:17 pm