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GOOGL

MSFT

Tech entrepreneur Peter H. Diamandis emphasized the critical role of AI in driving earnings growth for Alphabet Inc. (GOOGL, GOOG) and Microsoft Corporation (MSFT), predicting that by 2030, companies not fully utilizing AI will be out of business. Alphabet and Microsoft have shown significant revenue increases, attributed to their leadership in AI, with Alphabet's Q1 revenue up 15% YoY and Microsoft's Q3 revenue up 17% YoY, both surpassing consensus estimates.

Portfolio Pulse from Benzinga Neuro

April 26, 2024 | 1:16 pm

GOOG

GOOGL

Wedbush's Dan Ives praised Alphabet Inc (GOOG, GOOGL) for its 'major breakout quarter' after beating revenue and EPS estimates for Q1 2024, declaring its first-ever dividend, and showing positive growth and margin implications. Alphabet's revenue increased 15% year-over-year to $80.539 billion, surpassing estimates, with an EPS of $1.89. The company's focus on AI and cloud, along with the development of Gemini AI, was highlighted. Shares were up 11.80% in premarket trading.

Portfolio Pulse from Rounak Jain

April 26, 2024 | 1:06 pm

AZPN

Aspen Technology, Inc. (NASDAQ:AZPN) has launched AspenTech Strategic Planning for Sustainability Pathways, a new solution for optimizing carbon capture investments, developed in collaboration with Aramco. This initiative is part of an expanded co-innovation program aimed at enhancing sustainability and operational performance across various industries. The solution is designed to assist companies in making informed decisions on carbon capture utilization and storage, aligning with global net-zero objectives.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:06 pm

BYDDY

China introduces a subsidy of up to 10,000 yuan ($1,379.98) for trading in old vehicles for new energy-efficient ones, valid until the end of 2024. This move aims to boost consumer sentiment and increase EV adoption in the world's largest auto market. BYD Co, backed by Warren Buffett, leads the Chinese EV market with a 13.44% year-on-year sales increase in the first quarter.

Portfolio Pulse from Anan Ashraf

April 26, 2024 | 1:03 pm

AMGN

Amgen (NASDAQ:AMGN) has announced plans to submit a Marketing Authorization Application to the European Medicines Agency for teprotumumab, aimed at treating moderate to severe Thyroid Eye Disease (TED) in adults. If approved, teprotumumab would be the first medicine for TED in the EU, offering a non-surgical treatment option that addresses both symptoms and the disease's underlying cause.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:02 pm

ARRY

Array Technologies (NASDAQ: ARRY) announced the groundbreaking of a new $50+ million solar manufacturing campus in Bernalillo County, New Mexico, in collaboration with U.S. Energy Secretary Granholm and New Mexico Senators. The facility, supported by the Inflation Reduction Act and state and local investments, aims to create over 300 jobs and strengthen the domestic solar supply chain, marking a significant investment in clean energy and American manufacturing.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:48 pm

RGTI

Rigetti Computing, Inc. (NASDAQ:RGTI) announced the launch of the Novera QPU Partner Program, aimed at enabling high-performing, on-premises quantum computing through an ecosystem of hardware, software, and service providers. The program includes founding members like Bluefors, Quantum Machines, and others, offering components like control systems and cryogenics. The Novera QPU, a 9-qubit quantum processing unit, is based on Rigetti's Ankaa-class architecture and is manufactured in their dedicated quantum device facility. The program aims to support the development of quantum computing capabilities and has already seen sales to US government labs and Horizon Quantum Computing.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:38 pm

CLF

CMP

NUE

X

The article highlights the top 4 materials stocks considered oversold in Q2, based on their RSI values being near or below 30. United States Steel Corporation (X), Compass Minerals International, Inc. (CMP), Nucor Corporation (NUE), and Cleveland-Cliffs Inc. (CLF) are identified as major players in this sector with potential for short-term performance improvement. Each company's recent financial updates and stock price actions are discussed, providing insights into their current market positions and future expectations.

Portfolio Pulse from Avi Kapoor

April 26, 2024 | 12:38 pm

WISA

WiSA Technologies, under CEO Brett Moyer, announced significant developments including the introduction of WiSA E technology and the Propel program aimed at enhancing shareholder value, revenue growth, and industry leadership. The company is preparing for a Special Meeting of Stockholders on May 13, 2024, to vote on proposals crucial for the Propel program's success, including a reverse stock split and amendments to the corporation's governance. WiSA Technologies is positioning itself for long-term success in the spatial audio industry through partnerships, licensing agreements, and strategic initiatives.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:38 pm

HCM

HUTCHMED announced that the CHMP has given a positive opinion for fruquintinib for treating metastatic colorectal cancer, marking a potential first novel therapy in this category in the EU in over a decade. This opinion is based on the FRESCO-2 Phase III clinical trial results. Takeda is involved in receiving this opinion, indicating a partnership or collaboration in bringing fruquintinib to the market.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 12:36 pm