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AAPL

HNHPF

NVDA

Foxconn, owned by Hon Hai Precision Industry Co. Ltd (OTC:HNHPF) and a key supplier for Apple Inc (NASDAQ:AAPL), reported a 9.6% drop in Q1 revenue but expects growth in Q2, attributing potential gains to its involvement in AI and partnership with Nvidia Corporation (NASDAQ:NVDA). Despite a seasonal sales slump and a recent earthquake, increased demand in consumer electronics and cloud services, alongside its AI initiatives with Nvidia, fuels Foxconn's optimistic revenue outlook.

Portfolio Pulse from Upwallstreet

April 05, 2024 | 6:14 pm

BYDDY

F

RIVN

TSLA

Tesla regained its title as the world's top EV seller, surpassing BYD, despite a challenging quarter. BYD continues its aggressive expansion, planning to launch an electric pickup that could compete with Tesla's Cybertruck and Ford's F-150 Lightning. Ford faces challenges with demand for the Lightning and cut workforce at its plant. BYD also announced an ultra-cheap car and a supercar, targeting various market segments. Rivian announced reaching 100,000 EVs produced and unveiled new models, aiming to continue its growth amidst rising competition.

Portfolio Pulse from Upwallstreet

April 05, 2024 | 6:14 pm

ROKU

Roku Inc (NASDAQ:ROKU) has patented a technology to display ads during pauses in movies or games on TVs, aiming to monetize idle screen time. This expands their ad space beyond the Roku City screensaver, potentially inserting ads into third-party content via HDMI. The system is designed to activate only during pauses to minimize user disruption. Roku's move follows a year where it reported a $40 million loss on hardware but earned $1.6 billion from ads and services.

Portfolio Pulse from Franca Quarneti

April 05, 2024 | 6:09 pm

SPY

The Biden Administration is developing a preliminary climate model for Sustainable Aviation Fuel (SAF) subsidies, which will be more restrictive for ethanol producers than anticipated. Ethanol will not automatically qualify as an SAF feedstock under this model unless it is produced from corn that utilizes one of three specific sustainable agriculture techniques. The model may be expanded later in the year.

Portfolio Pulse from Benzinga Newsdesk

April 05, 2024 | 6:07 pm

PG

Procter & Gamble (NYSE:PG) has initiated a voluntary recall of approximately 8.2 million units of Tide Pods, Gain Flings, Ace Pods, and Ariel Pods in the U.S. due to a packaging flaw that could lead to potential injury if ingested. The recall affects products manufactured between September 2023 and February 2024. Despite no confirmed injuries, there have been four reports of children accessing the packets. PG is offering refunds and replacement child-resistant bags. PG shares rose 0.58% to $156.35 following the announcement.

Portfolio Pulse from Nabaparna Bhattacharya

April 05, 2024 | 6:00 pm

BMY

TSVT

The FDA approved Bristol-Myers Squibb (BMY) and 2seventy Bio Inc's (TSVT) Abecma for earlier use in pretreated blood cancer patients, expanding its indication. The approval, based on the KarMMa-3 trial, shows Abecma extends progression-free survival in patients with relapsed or refractory multiple myeloma. The FDA also updated Abecma's boxed warning to include secondary cancer risks.

Portfolio Pulse from Vandana Singh

April 05, 2024 | 5:37 pm

MRVL

NVDA

BofA Securities analyst Vivek Arya reaffirmed a Buy rating on Marvell Technology, Inc. (NASDAQ:MRVL) with a price target of $95, highlighting its potential in the AI chip market. Arya anticipates Marvell to showcase its diverse assets at an upcoming event, projecting a significant market opportunity in custom AI accelerators/server ASICs and high-speed Ethernet switches. The analyst expects Marvell to capture over 10% of the custom AI chip market, translating to $2 billion-$3 billion annually by 2026/2027. Additionally, Arya forecasts NVIDIA Corporation (NASDAQ:NVDA) to maintain a 75% share in the total accelerator market, which is expected to reach $180 billion-$200 billion by 2027. MRVL shares rose 2% to $72.29.

Portfolio Pulse from Nabaparna Bhattacharya

April 05, 2024 | 5:36 pm

AMZN

Mizuho analyst James Lee has reiterated a Buy rating on Amazon.com, Inc (NASDAQ:AMZN) with a price target of $230, citing rapid AWS expansion and increased cloud spending. Key findings from a quarterly survey with an AWS channel partner indicate an accelerated sales cycle, a significant shift towards infrastructure expenditure, and an expectation for a 20% year-over-year increase in AWS spending. These developments suggest a strong outlook for Amazon, leading Lee to reiterate Amazon as his top pick.

Portfolio Pulse from Anusuya Lahiri

April 05, 2024 | 5:32 pm

PFE

A study published in the New England Journal of Medicine on Pfizer Inc's Paxlovid for COVID-19 shows it's safe but questions its efficacy in low-risk patients. The study found no significant difference in symptom alleviation between Paxlovid and placebo groups. Editorial commentary suggests Paxlovid's benefits are likely greater for high-risk individuals.

Portfolio Pulse from Vandana Singh

April 05, 2024 | 5:28 pm

VRT

Vertiv Holdings (NYSE:VRT) shares surged after Oppenheimer analyst Noah Kaye initiated coverage with an Outperform rating and a $96 price target. Kaye's optimism is based on the expected tripling of data center capacity and double-digit TAM expansion over the next five years, driven by AI investments. He highlighted the rising demand for liquid cooling solutions, where VRT is innovating in collaboration with chip makers, and anticipates a sustainable operational turnaround with significant margin expansion. VRT's shares rose 5.73% to $85.31.

Portfolio Pulse from Shivani Kumaresan

April 05, 2024 | 5:00 pm