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TSM

Taiwan Semiconductor Manufacturing Co (TSMC), a key supplier to Nvidia and Apple, reported an 11.3% year-on-year sales increase in February, driven by strong demand for AI-related products. This growth comes despite a 5.9% sales decline across Taiwan's tech sector. TSMC's performance contrasts with electronics manufacturers like Foxconn and Pegatron, which saw sales drops due to reduced business days from the Lunar New Year. TSMC is expanding globally, with new facilities in Japan and a $40 billion investment in Arizona, supported by up to $5 billion in U.S. grants.

Portfolio Pulse from Anusuya Lahiri

March 13, 2024 | 2:03 pm

MA

Mastercard (NYSE:MA) launched Smart Subscriptions, an open-banking powered solution for managing subscriptions through consumer banking applications. This service aims to enhance financial wellness by offering transparency in spending and personalized offers. It builds on Mastercard's Subscriptions Control solution from 2023. Additionally, Mastercard reported a Q4 net revenue of $6.55 billion, beating estimates, with an adjusted EPS increase of 20% to $3.18. MA shares saw a slight increase of 0.23% to $473.98.

Portfolio Pulse from Lekha Gupta

March 13, 2024 | 2:00 pm

ALGN

Align Tech (NASDAQ:ALGN) has received mixed analyst ratings over the past quarter, with a shift towards a more bullish outlook in the last 30 days. The average 12-month price target for ALGN has increased to $297.0, up from $255.50, indicating a positive sentiment shift. Analysts from firms like Piper Sandler and Goldman Sachs have adjusted their price targets and ratings, reflecting changes in market conditions and company performance. Align Technology, known for its Invisalign product, dominates the clear aligner market and has shown strong financial performance with significant revenue growth and profitability metrics.

Portfolio Pulse from Benzinga Insights

March 13, 2024 | 2:00 pm

IONS

Ionis Pharmaceuticals Inc (NASDAQ:IONS) announced positive results from a Phase 2 study of ION224, a treatment for metabolic dysfunction-associated steatohepatitis (MASH), showing significant liver fat reduction and safety. The study met its primary and important secondary endpoints, demonstrating liver histologic improvement and MASH resolution at both tested doses. ION224 was well-tolerated with no serious adverse events reported. Following the news, IONS shares rose 1.34% to $43.75.

Portfolio Pulse from Vandana Singh

March 13, 2024 | 1:52 pm

UAVS

AgEagle Aerial Systems Inc. (NYSE:UAVS), a leading drone solutions provider, announced a shareholder letter from Chairman Grant Begley, highlighting the company's evolution, product offerings, and strategic accomplishments. Begley emphasized AgEagle's transition from a local agricultural drone provider to a global leader in drone technology with applications across various sectors. The letter mentioned the introduction of eBee VISION for defense and security, FAA certification, and the Defense Innovation Unit's endorsement. Recent achievements include leadership team expansions, sales to UT-Battelle and ADS Inc., and recognition as a top AI company in agriculture. Financially, AgEagle addressed its micro cap status, sales stagnation, and high expenses in 2023, but anticipates growth with the eBee VISION. A 20-to-1 reverse stock split was approved to attract more investors and support business growth.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:43 pm

NVDA

QCOM

Cerebras Systems announced the launch of its new AI processor, the Wafer-Scale Engine 3 (WSE-3), which offers double the performance of its predecessor at the same price. The WSE-3, built on a 5nm process by Taiwan Semiconductor Manufacturing Co, features 4 trillion transistors and is capable of 125 petaflops of computing. Cerebras, competing with Nvidia's AI chips, aims to outperform with its single large chip design. The company is cash flow positive and plans to sell WSE-3 systems with Qualcomm's AI 100 Ultra chips for AI applications.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:40 pm

AAPL

Apple Inc. (NASDAQ:AAPL) is advancing its technology with a revised patent for 'Camera Systems For Bendable Electronic Devices', focusing on integrating multiple cameras into flexible devices to enable 3D or panoramic imaging by bending the device. This innovation could extend to phones, wearables, and laptops, showcasing Apple's ongoing research in enhancing device functionality and user experience.

Portfolio Pulse from Rounak Jain

March 13, 2024 | 1:38 pm

MULN

Mullen Automotive has announced an update on the timeline for the U.S. government ruling regarding their Class 1 EV cargo vans. Following advice from the CBP, Mullen, in collaboration with RRDS, is moving forward with the GSA to finalize its qualification to sell these vans to all branches of the U.S. government.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:33 pm

DHI

GOOG

PFE

PGR

On CNBC's 'Halftime Report Final Trades,' experts highlighted their picks: Pfizer (PFE) for its promising Phase 3 study results, Alphabet (GOOG/GOOGL) despite a recent setback with its Pixel 8 smartphone, Progressive (PGR) for its solid earnings and growth prospects, and D.R. Horton (DHI) for its attractive valuation. Notably, Alphabet's Google faced a hiccup with its Pixel 8 smartphone lacking the Gemini Nano AI feature, and Progressive received an upgrade from Morgan Stanley.

Portfolio Pulse from Avi Kapoor

March 13, 2024 | 1:25 pm

CYBR

CyberArk (NASDAQ:CYBR), an identity security company, has been selected by Heng Leong Hang, a prominent retail brand in Taiwan with over 70 stores, to enhance its cybersecurity capabilities. The CyberArk Identity Security Platform will be used to secure human and machine identities, automate the identity lifecycle, and implement continuous threat detection and prevention. This move aims to protect the company's core systems and customer data amidst increasing cybersecurity challenges in the retail industry.

Portfolio Pulse from Benzinga Newsdesk

March 13, 2024 | 1:23 pm