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AMZN

Amazon.com Inc (NASDAQ:AMZN) is expected to report Q1 revenue of $142.47 billion, an improvement from last year's $127.36 billion, and earnings per share of 83 cents, up from 35 cents. Analysts anticipate strong sales and profit growth, highlighting the strength of online spending and faster fulfillment. Key factors include AWS segment performance, high-margin categories like advertising, and sports media rights, including NBA and WNBA deals. Analyst ratings are positive, with price targets ranging from $200 to $235.

Portfolio Pulse from Chris Katje

April 29, 2024 | 4:05 pm

BUZZ

SOFI

STCE

SoFi Technologies Inc. reported fiscal first-quarter 2024 results with a 26% year-on-year increase in adjusted revenue to $580.648 million, surpassing consensus estimates. Adjusted EPS was $0.02, beating the consensus of $0.01. The company added 622,000 new members, reaching over 8.1 million, and introduced over 989,000 new products, totaling over 11.8 million. Adjusted EBITDA rose by 91% Y/Y to $144.39 million. SoFi projects Q2 adjusted net revenue of $555 million to $565 million and adjusted EBITDA of $115 million to $125 million. For the full year 2024, it expects at least 50% growth in Tech Platform and Financial Services segments, with Lending revenue at 92% to 95% of 2023 levels, and an adjusted EBITDA margin of approximately 25%. SoFi stock is down 10% at $7.08. Investors can also gain exposure to SoFi through VanEck Social Sentiment ETF (BUZZ) and Schwab Strategic Trust Schwab Crypto Thematic ETF (STCE).

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 4:00 pm

PBR

Petrobras is planning to launch a tender to hire a company for renovation works at its Parana fertilizer plant, which requires investments to resume operations, according to a Petrobras executive.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:47 pm

PBR

Petrobras, through an executive statement, has expressed hopes to resume operations at its Parana Nitrogen Fertilizer Plant by 2025, contingent on favorable conditions.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:46 pm

ON

QCLN

SHOC

TSLA

ON Semiconductor Corp (NASDAQ: ON) reported a fiscal first-quarter 2024 revenue decline of 5% year-on-year to $1.86 billion, slightly beating the consensus of $1.85 billion. The adjusted EPS of $1.08 also surpassed the consensus of $1.04. Despite declines in certain segments, the company outperformed expectations and provided a Q2 outlook with adjusted revenue of $1.68 billion to $1.78 billion, below the consensus of $1.92 billion, and adjusted EPS of $0.86 to $0.98, against a consensus of $1.10. Analyst Harsh V. Kumar from Piper Sandler anticipates a recovery in the second half of 2024, especially in the EV market, which is expected to grow long-term. ON Semiconductor stock is trading higher by 4.23% at $70.94. Investors can also gain exposure through ETFs like QCLN and SHOC.

Portfolio Pulse from Anusuya Lahiri

April 29, 2024 | 3:34 pm

NVO

The FDA has announced that Novo Nordisk's Wegovy, an injection with a dosage of 1.7 mg/.75 ml (NDC 0169-4517-14), is now available. This news was reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:34 pm

MELI

Financial analysts have observed a bullish trend in MercadoLibre's (NASDAQ:MELI) options, with a significant focus on a price range between $1300 and $1700. The analysis of 13 unusual trades showed a balanced sentiment among traders, with both bullish and bearish tendencies. The largest trades were predominantly calls, indicating a positive outlook. MercadoLibre, a leading e-commerce platform in Latin America, has seen its stock price increase by 1.91% to $1432.92. Analysts from UBS, Barclays, and Wedbush have set a consistent price target of $1800 for MELI, maintaining positive ratings.

Portfolio Pulse from Benzinga Insights

April 29, 2024 | 3:31 pm

NVO

The FDA has announced that Novo Nordisk's Wegovy, an injection with a dosage of .25 mg/.5 ml (NDC 0169-4525-14), is currently under limited availability. The estimated duration of the shortage is yet to be determined.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:26 pm

NFLX

A HarrisX survey indicates Netflix's ad-supported subscription tier is the second most popular in the U.S., suggesting over 20 million domestic subscribers. This growth signifies a successful shift towards ad revenue, with potential for further expansion as Netflix plans to eliminate the ad-free Basic plan in some markets. The survey also highlights the ad tier's role in attracting new subscribers, especially younger users, as Netflix focuses more on engagement and ad revenue in a slow-growth model.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:13 pm

SHEL

Reliance Industries has purchased 2 million barrels of Canadian crude oil from Shell for July delivery, utilizing Canada's new Trans Mountain pipeline. This marks Reliance's first acquisition of Canadian crude, with the pipeline set to enhance crude flow from Alberta to the Pacific Coast, facilitating access to Asian and U.S. West Coast markets. Shell will transfer the oil via ship-to-ship transfers to a Very Large Crude Carrier for shipment to Reliance's Sikka port refinery. The deal was made at a $6/barrel discount to September ICE Brent.

Portfolio Pulse from Benzinga Newsdesk

April 29, 2024 | 3:11 pm