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PHG

Koninklijke Philips NV (NYSE:PHG) announced a final agreement with the U.S. Justice Department and FDA regarding a settlement related to its Respironics ventilators, following a voluntary recall in June 2021 for certain devices. The consent decree allows Philips Respironics to continue servicing existing devices and selling accessories while meeting specific requirements before resuming new device sales in the U.S. Philips maintains its 2023-25 financial guidance, including the impact of the consent decree.

Portfolio Pulse from Vandana Singh

April 10, 2024 | 1:47 pm

BMWYY

Bayerische Motoren Werke AG (OTC:BMWYY), also known as BMW Group, reported a 1.1% year-over-year increase in vehicle deliveries in Q1, totaling 594,671 vehicles. Notably, deliveries of fully-electric vehicles surged by 27.9% to 82,700 units. The company saw strong growth in Europe and the high-end premium segment, although Rolls-Royce deliveries fell by 7.0%. BMW Group's electrified vehicle sales also rose by 11.0%. The company expects a slight increase in automotive deliveries in 2024, with significant growth in fully-electric vehicles and high-end premium models.

Portfolio Pulse from Lekha Gupta

April 10, 2024 | 1:44 pm

GOOG

GOOGL

JPMorgan analyst Doug Anmuth is bullish on Alphabet Inc. (GOOG, GOOGL), predicting over 20% revenue growth for Google Cloud, driven by strategic focus on Gen AI applications and Gemini integration. Anmuth's Overweight rating and $165 price target reflect confidence in Google's market share capture in cloud computing and AI, supported by product innovations like the custom CPU Axion and the AI-powered video app 'Vids'. Google's expanding ecosystem and adoption among Gen AI startups, highlighted by partnerships with companies like Uber and Mercedes Benz, are seen as key growth drivers.

Portfolio Pulse from Surbhi Jain

April 10, 2024 | 1:32 pm

GOOG

GOOGL

Wedbush analysts are optimistic about Alphabet Inc.'s (GOOG, GOOGL) advancements in AI, highlighted by the unveiling of new products and partnerships at the Google Cloud Next event. The firm maintains an 'Outperform' rating with a target price of $175, citing Google's generative AI stack, custom chips like Axion, and the Gemini 1.5 Pro model as key growth drivers. Despite a short-term dip in share price, Wedbush sees a potential 15% rally in tech stocks in 2024, with Google playing a pivotal role.

Portfolio Pulse from Rounak Jain

April 10, 2024 | 1:31 pm

COIN

GOOGL

Coinbase Cloud and Google Cloud have partnered with EigenLayer as operators to enhance Ethereum's security. This collaboration marks a significant step in their blockchain involvement, with EigenLayer's mainnet launch introducing a new security layer for Ethereum. Other notable operators include Deutsche Telekom, HashKey Cloud, Figment, and Nethermind. EigenLayer's protocol allows Ethereum stakers to delegate their staked ETH or derivative tokens, enhancing the network's security and enabling participation in multiple blockchain applications.

Portfolio Pulse from Murtuza Merchant

April 10, 2024 | 1:26 pm

NEON

Neonode Inc. announced the immediate departure of CEO Urban Forssell. CFO Fredrik Nihlén will serve as interim CEO. Forssell will be a strategic advisor until end of 2024. This follows Neonode's strategy shift to focus on licensing business and phase out its Touch Sensor Module product business.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:24 pm

CFCV

CIBR

DGIN

FTXL

INFY

INTC

Intel Corporation (INTC) shares are trading lower in the premarket session on Wednesday after expanding its collaboration with Infosys Limited (INFY) to accelerate global enterprises' AI journeys. The partnership will integrate Intel's advanced AI solutions, including Xeon processors and Gaudi accelerators, into Infosys Topaz, enhancing businesses' efficiency and performance. The collaboration also includes upskilling Infosys' workforce with Intel's AI training resources. INTC and INFY stocks have shown significant gains over the past year, and exposure to these stocks can be gained through specific ETFs like CFCV, CIBR, DGIN, and FTXL.

Portfolio Pulse from Nabaparna Bhattacharya

April 10, 2024 | 1:19 pm

NIO

NIO Inc (NYSE:NIO) shares rose 7.78% on Tuesday, influenced by broader China strength and productive talks between U.S. Treasury Secretary Janet Yellen and Chinese officials. New data showed a 35.3% year-over-year increase in China's new energy vehicle sales in March. Nio's FY23 revenue growth was 7.3%, with future performance potentially impacted by macroeconomic factors. Shares were down 2.12% at $4.61 at the time of publication.

Portfolio Pulse from Adam Eckert

April 10, 2024 | 1:19 pm

CLF

MDT

REPX

WCC

Jim Cramer recommended buying Medtronic (MDT), Riley Exploration Permian (REPX), and WESCO International (WCC) on CNBC's 'Mad Money Lightning Round.' Medtronic's Evolut FX+ TAVR system received FDA approval, Riley Permian announced a public offering, and Wesco completed a sale of its Wesco Integrated Supply business. Cramer also mentioned buying Cleveland-Cliffs (CLF) under $20, despite Wolfe Research's downgrade.

Portfolio Pulse from Avi Kapoor

April 10, 2024 | 1:18 pm

LEN

LPX

LP Building Solutions (LPX) and Lennar Corporation (LEN) have announced a nationwide supply agreement to provide high-quality, sustainable building products for Lennar's home construction projects. This partnership expands their existing collaboration, leveraging LP's engineered wood products and Lennar's market reach. The agreement includes the use of LP's SmartSide Trim & Siding, Structural Solutions sheathing, sub-flooring, and OSB products, known for their durability and performance.

Portfolio Pulse from Benzinga Newsdesk

April 10, 2024 | 1:07 pm