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AMZN

Amazon.com Inc's Q3 earnings report exceeded expectations, leading to a 7% increase in its stock. The company reported a 13% YoY growth in revenue at $143.1 billion, beating the consensus estimate of $141.42 billion. Key catalysts included a resurgence in e-commerce business, AWS growth stabilization, and successful cost-cutting efforts. The company's AI strategy was also highlighted, with numerous companies building generative AI apps in AWS. Despite trading at high multiples, the stock has a consensus Buy rating from Wall Street analysts.

Portfolio Pulse from Surbhi Jain

October 27, 2023 | 6:09 pm

GM

Morgan Stanley analyst Adam Jonas reiterated an Overweight rating on General Motors Company (GM) but lowered the price target from $41 to $40. Despite GM's Q3 FY23 sales growth and better-than-expected results, concerns are raised about the profitability of its EV business and setbacks in its autonomous vehicle business, Cruise. The analyst expects GM's EV business profit data to show negative margins and sees challenges in the execution of the go-to-market strategy for Cruise.

Portfolio Pulse from Shivani Kumaresan

October 27, 2023 | 6:08 pm

AAPL

Huawei Technologies has seen a resurgence in the Chinese smartphone market, putting pressure on Apple Inc. (NASDAQ: AAPL). Huawei's smartphone sales in China increased by 37% year on year, capturing a market share of 12.9%. The company's recent release of a smartphone equipped with a cutting-edge chip has been a game-changer. Analysts speculate that if Huawei integrates its new chip into mid-range smartphones, it could further disrupt the market dynamics. Despite Huawei's success, the overall smartphone market in China witnessed a 14% decline in shipments in 2022.

Portfolio Pulse from Anusuya Lahiri

October 27, 2023 | 4:31 pm

AMZN

GOOG

INTC

META

MSFT

Earnings calls are increasingly mentioning 'AI', reflecting the growing influence of artificial intelligence on business performance and strategy. Microsoft, Alphabet, Meta, Amazon, and Intel have all seen an uptick in the use of the term in their Q3 2023 earnings calls compared to the previous quarter. The rise of AI in earnings calls can be attributed to its integration in operations, investor interest, competitive advantage, and regulatory and ethical concerns.

Portfolio Pulse from Surbhi Jain

October 27, 2023 | 4:07 pm

BYDDF

LI

NIO

TSLA

XPEV

Chinese EV makers saw a rise in their stock prices after Tesla scrapped a discount on its Model Y in China. Xpeng, Li Auto, and Nio saw increases of 4%, 3%, and 2% respectively. Tesla's move is seen as a step towards profitability in the Chinese market, where it competes with these companies. This comes after Tesla's Q3 earnings fell short of expectations, with a 32.8% MoM sales decline in China. Meanwhile, BYD, another competitor, expects to increase its net profit by 67% to 102% in Q3.

Portfolio Pulse from Daniel Harrison

October 27, 2023 | 4:05 pm

AAPL

AMZN

BTCUSD

GLD

GOOG

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

Amazon's stock rallied after the company announced that its cloud computing service, AWS, will make 'tens of billions' from generative AI. Despite a slight miss in cloud computing revenues, the stock's reaction shows the power of AI to move stocks. Economic data shows that consumer spending continues to rise, with consumers dipping into savings and running up credit card balances. Money flows are positive in Amazon, Meta Platforms, Microsoft, NVIDIA, and Tesla, and neutral in Alphabet and Apple. The US has struck Iranian linked bases in Syria, which could impact the market.

Portfolio Pulse from The Arora Report

October 27, 2023 | 3:58 pm

RUN

Shares of Sunrun Inc (NASDAQ:RUN) are trading lower by 7.6% due to weak fourth-quarter guidance issued by Enphase Energy. Enphase's underperformance is attributed to excessive inventory levels and decreased demand in significant European markets. This has negatively affected market sentiment for the entire solar energy sector, including Sunrun, leading to a downward pressure on its stock price.

Portfolio Pulse from Henry Khederian

October 27, 2023 | 3:47 pm

AMZN

Allay Consulting, a national compliance strategy and services provider, is working to help businesses become compliant in the emerging field of psychedelic-assisted therapies (PAT). The company provides certifications, conducts audits, and offers training to ensure facilities are compliant. Allay's CEO, Kim Stuck, highlighted the importance of Good Cultivation and Harvesting Practices (GACP) and Good Manufacturing Practices (GMP) certifications, which are based on U.S. Department of Agriculture and FDA guidelines. Stuck also mentioned that such certifications are necessary to sell on platforms like Amazon (NASDAQ:AMZN).

Portfolio Pulse from Lara Goldstein

October 27, 2023 | 3:41 pm

DIS

Disney+ has expanded its advertising automation and measurement capabilities, 10 months after the successful launch of its ad-supported tier. The service has introduced advanced audience targeting, additional programmatic marketplaces, expanded ad formats, and enriched measurement across verification, identity, effectiveness, and attribution. 50% of new subscribers choose the ad tier, and the service has seen a 35% increase in engagement from March to September 2023. Disney+ is now accepting an expanded range of creative lengths and content sponsorships for the 2023 holiday season.

Portfolio Pulse from Benzinga Newsdesk

October 27, 2023 | 3:30 pm

AXTA

Axalta Coating Systems (AXTA) has been named the exclusive supplier for BMW Group's private paint label, ColorSystem, in 15 European countries and South Africa. The agreement includes BMW Group's network of 730 dealerships and collision repair partners. Axalta will also provide its Fast Cure Low Energy technology paint system, which can reduce carbon equivalent emissions and energy consumption by up to 45% compared to standard paint technologies. The agreement runs through December 2028.

Portfolio Pulse from Happy Mohamed

October 27, 2023 | 3:02 pm