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Revenues

BABA

PDD

PDD Holdings Inc (NASDAQ:PDD) shares rose after analysts raised their price targets following strong Q1 results. PDD reported a 131% YoY revenue growth to $12.02 billion, beating the consensus of $10.65 billion. Adjusted earnings per ADS were $2.83, surpassing the $1.42 consensus. Benchmark analyst Fawne Jiang raised the price target to $230, citing robust growth and reduced losses for Temu. Goldman Sachs analyst Ronald Keung reiterated a Neutral rating with a $145 price target, noting strong performance but muted share price reaction due to high expectations and concerns about sustainability.

Portfolio Pulse from Anusuya Lahiri

May 23, 2024 | 6:43 pm

ETHUSD

SOLUSD

Cryptocurrency trader Wazz Crypto discusses the challenges Solana (SOL) will face in outperforming Ethereum (ETH) due to factors like inflation rates, supply overhang, and Ethereum's institutional advantage. Despite Solana's on-chain activity, Ethereum's potential ETF approval and robust DeFi ecosystem make it a more stable investment.

Portfolio Pulse from Khyathi Dalal

May 23, 2024 | 6:38 pm

ASTI

Ascent Solar Technologies (NASDAQ:ASTI) shares are soaring due to increased trading volume and social media attention. The surge is likely driven by positive sentiment in the solar sector following President Biden's announcement of increased tariffs on Chinese solar cells. Ascent Solar's trading volume has significantly exceeded its average, and the stock is trending on social platforms. The company recently announced a firm order for its thin-film photovoltaic solutions and is set to report Q1 earnings in early June.

Portfolio Pulse from Vaishali Prayag

May 23, 2024 | 6:38 pm

DRI

LULU

Red Lobster, once the largest seafood restaurant chain, has filed for Chapter 11 bankruptcy. The chain, previously owned by Darden Restaurants Inc (NYSE:DRI), is auctioning off kitchen equipment but will not fully shut down. Issues like the 'Endless Shrimp' promotion and frequent leadership changes contributed to its downfall. Thai Union, a major stakeholder and supplier, is also implicated in the chain's financial troubles.

Portfolio Pulse from Aaron Bry

May 23, 2024 | 6:36 pm

CYTK

RPRX

Cytokinetics and Royalty Pharma have entered a strategic funding collaboration to support the commercialization of aficamten and advance Cytokinetics' cardiovascular pipeline. The deal provides up to $575 million in funding. Cytokinetics also priced a public offering of 9.8 million shares at $51/share, raising approximately $500 million. Analysts note that despite acquisition rumors, Cytokinetics remains focused on its operations, though the stock may experience volatility.

Portfolio Pulse from Vandana Singh

May 23, 2024 | 6:30 pm

AMZN

META

MSFT

NVDA

Nvidia reported impressive fiscal first quarter results, surpassing estimates with a 262% YoY revenue growth to $26.04 billion. Key contributors include Google, Microsoft, Meta, Amazon, and OpenAI, driving demand for AI chips. Nvidia's shares rose 7% in extended trading. The company expects continued growth with its next-generation AI chip, Blackwell.

Portfolio Pulse from Upwallstreet

May 23, 2024 | 6:13 pm

BILI

FLJ

MTC

YUMC

Shares of US-listed Chinese stocks are trading lower due to regional tension from China's military drills near Taiwan. Investors are also considering recent property support measures and US tariffs on some sectors.

Portfolio Pulse from Benzinga Newsdesk

May 23, 2024 | 6:09 pm

APIE

NGG

PID

National Grid plc (NYSE:NGG) shares are down 14.11% after the company reported a £7 billion equity raise and a year-over-year decrease in full-year revenue. Despite a 32% increase in adjusted EPS and a 4% rise in underlying operating profit, gross revenue declined by 8%. The company plans to invest £60 billion in the U.S. and U.K. over the next five years, with a comprehensive financing plan including a £7 billion equity raise. National Grid also announced its intention to sell Grain LNG and National Grid Renewables.

Portfolio Pulse from Lekha Gupta

May 23, 2024 | 5:39 pm

NVAX

Novavax (NASDAQ:NVAX) has significantly outperformed the market over the past 5 years, delivering an average annual return of 21.23%. A $100 investment in NVAX 5 years ago would be worth $261.86 today. The article highlights the impact of compounded returns on investment growth.

Portfolio Pulse from Benzinga Insights

May 23, 2024 | 5:31 pm

AMD

INTC

MSFT

NVDA

Nvidia's AI business is driving a significant surge in revenue, leaving competitors Intel and AMD scrambling to catch up. Nvidia's data center business reported a record $47.5 billion in 2023, a 427% year-on-year increase. Both Intel and AMD are entering the AI PC market, with Intel committing to ship chips for over 100 million AI PCs by 2025. Analysts see Nvidia and AMD as key AI investment opportunities.

Portfolio Pulse from Rounak Jain

May 23, 2024 | 5:25 pm