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QCOM

Ampere and Qualcomm have announced a partnership to launch an AI-focused server using Ampere's CPUs and Qualcomm's Cloud AI100 Ultra AI inferencing chips. This collaboration aims to provide efficient solutions for running large AI models. Ampere also introduced its new 256-core AmpereOne chip, which will be available later this year, and announced a partnership with NETINT for video processing solutions.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 3:40 pm

KARS

KGRN

NIO

TSLA

XPEV

Nio Inc (NYSE:NIO) stock was trading higher Thursday amid reports of launching its first vehicle under the Onvo brand, priced lower than Tesla's Model Y. However, the stock reversed its gains. Nio plans to deliver the L60 SUV in September and aims for international sales. The L60 will use affordable batteries from BYD Co. Nio's stock has lost 33% in the last 12 months. Investors can gain exposure via KraneShares MSCI China Clean Technology Index ETF (NYSE:KGRN) and KraneShares Electric Vehicles And Future Mobility Index ETF (NYSE:KARS).

Portfolio Pulse from Anusuya Lahiri

May 16, 2024 | 3:39 pm

AGFY

NMHI

Nature’s Miracle Holding Inc. (NASDAQ:NMHI) and Agrify Corporation (NASDAQ:AGFY) have signed a definitive merger agreement. Agrify will become a wholly-owned subsidiary of Nature’s Miracle, with Agrify shareholders receiving 0.45 shares of Nature’s Miracle for each Agrify share. The merger is expected to close in the second half of 2024, subject to shareholder approval. The deal aims to leverage Agrify's SaaS and AI technology to enhance Nature’s Miracle’s vertical farming business.

Portfolio Pulse from Jelena Martinovic

May 16, 2024 | 3:35 pm

AZN

AstraZeneca's Phase 3 trial for its COVID-19 prevention therapy, sipavibart, shows significant reduction in symptomatic COVID-19 in immunocompromised patients. The therapy was well tolerated, and AstraZeneca is in talks with regulatory authorities for potential approval.

Portfolio Pulse from Vandana Singh

May 16, 2024 | 3:34 pm

CMI

Cummins is raising its long-term financial targets due to a strengthening portfolio and continued strategic execution. The company is well-positioned to meet customer needs, reduce greenhouse gas emissions, and generate growth regardless of the transition pace to zero emissions. Cummins aims to improve its base business while scaling AcceleraTM by Cummins for profitable growth and higher operating cash flow.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 3:32 pm

DKNG

At Benzinga's Sports Betting & Gaming Conference, Macquarie's Head of US Research, Chad Beynon, highlighted DraftKings as a key player in the sports betting and iGaming space. He noted that while DraftKings has set the tone, there are other companies in the sector poised for similar growth.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 3:25 pm

ENVB

Enveric Biosciences (NASDAQ:ENVB) reported a productive Q1 2024, reducing net loss and increasing cash on hand. The company advanced its lead drug candidate, EB-003, and executed seven non-binding out-license term sheets. Enveric's shares rose by 2.7919% to $0.81.

Portfolio Pulse from Jelena Martinovic

May 16, 2024 | 3:25 pm

AMC

A report from 'The Bear Cave' criticizes AMC Entertainment's financial health, calling it 'a dead company walking.' Despite a recent stock surge influenced by social media, the report highlights AMC's unprofitability, high debt, and significant stock dilution. The report also questions the credibility of AMC's promoters and notes a lack of deep value and lower short interest compared to past meme stock surges.

Portfolio Pulse from Michael Cohen

May 16, 2024 | 3:25 pm

MOO

RSPS

TSN

Tyson Foods Inc. (NYSE:TSN) has reported positive outcomes from reintroducing some antibiotics into its poultry operations, leading to healthier chickens and improved operational efficiency. The company saw a 25.5% increase in adjusted EBITDA and a surge in demand for its chicken products. Tyson's stock has gained over 23% in the last 12 months.

Portfolio Pulse from Shivani Kumaresan

May 16, 2024 | 3:21 pm

PENN

At Benzinga's Sports Betting & Gaming Conference, Macquarie's Head of US Research, Chad Beynon, discussed PENN Entertainment. He noted improvements in PENN's app and its rise in rankings. Beynon believes the impact will be more visible during the NFL season and sees potential upside from ESPN Bet. Despite recent downgrades, he considers the $28 price target as a floor, with potential for it to be higher.

Portfolio Pulse from Benzinga Newsdesk

May 16, 2024 | 3:17 pm