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AMAT

INTC

TSM

Applied Materials, Inc. (NASDAQ: AMAT) shares are trading lower in the premarket session after reporting second-quarter results for 2024. The company generated $1.39 billion in cash from operations and distributed $1.09 billion to shareholders. Despite beating revenue and EPS estimates, the company faces temporary order halts from some semiconductor manufacturing customers. AMAT sees third-quarter revenue and earnings slightly above estimates but does not expect significant growth this year.

Portfolio Pulse from Nabaparna Bhattacharya

May 17, 2024 | 10:28 am

HTHT

H World Group (NASDAQ:HTHT) reported Q1 earnings of $0.29 per share, beating the analyst estimate of $0.28. Sales were $731 million, surpassing the $711.5 million estimate. Despite the earnings beat, EPS decreased by 35.56% year-over-year, while sales increased by 12.12%.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 10:19 am

EQNR

ICOW

PWER

Equinor ASA (NYSE:EQNR) has received final approval from the New York State Public Service Commission to start building its Empire Wind 1 offshore wind farm, expected to contribute to New York's goal of 9,000 MW of offshore wind power by 2035. The project is scheduled to start producing power in 2026. Equinor recently entered a strategic partnership with Standard Lithium Ltd and reported Q1 FY24 revenue of $24.79 billion, beating consensus estimates.

Portfolio Pulse from Lekha Gupta

May 17, 2024 | 10:18 am

SPY

The Dow Jones Industrial Average hit a record high of 40,000, providing President Joe Biden an opportunity to counter former President Donald Trump's prediction that the stock market would crash if Biden were elected. The market's performance is attributed to cooling consumer price inflation and expectations of a Federal Reserve rate cut. The SPDR S&P 500 ETF Trust (SPY) edged down 0.1% in premarket trading but is up 11.6% year-to-date.

Portfolio Pulse from Shanthi Rexaline

May 17, 2024 | 9:36 am

RLX

RLX Technology (NYSE:RLX) reported Q1 earnings per share of $0.02, beating the analyst consensus estimate of $0.02 by 10%. The company also reported quarterly sales of $76.40 million, surpassing the estimate of $74.11 million by 3.09%. This represents a significant 177.78% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 9:34 am

CAN

Canaan has reiterated its Q2 2024 revenue guidance of $70 million, matching estimates, but its Q3 2024 revenue guidance of $70 million falls short of the $91.4 million estimate.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 9:25 am

JPM

Jamie Dimon, CEO of JPMorgan Chase & Co, warns of persistent inflationary pressures in the U.S. economy, suggesting higher interest rates may persist longer than expected. Factors contributing to inflation include green economy costs, re-militarization, infrastructure spending, and fiscal deficits. Dimon's concerns align with broader global economic trends and recent government spending impacts.

Portfolio Pulse from Benzinga Neuro

May 17, 2024 | 8:53 am

PHG

Philips presented study results at the Heart Rhythm Annual Meeting, showcasing the benefits of its AI-powered cardiac monitoring solution. Three studies demonstrated how Philips MCOT wearable ambulatory monitoring ECG and proprietary AI models applied to ECG digital biomarkers can improve diagnosis, reduce readmissions, and lower costs.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 8:08 am

HTHT

RBC

RLX

WMT

Investor optimism decreased slightly after economic reports, leading to a lower close for U.S. stocks on Thursday. The Dow Jones briefly surged above 40,000 but ended lower. Deere & Co reported strong earnings but lowered its 2024 outlook, while Walmart shares gained 7% on better-than-expected earnings. Investors are awaiting earnings results from H World Group, RLX Technology, and RBC Bearings.

Portfolio Pulse from Avi Kapoor

May 17, 2024 | 6:31 am

BABA

FXI

KBA

KWEB

MCHI

PDD

China's retail sales growth decelerated in April, while industrial production surged. Retail sales increased by 2.3% year-over-year, below the forecasted 3.8%, whereas industrial production grew by 6.7%, surpassing expectations. Key China-focused ETFs outperformed major U.S.-equity ETFs.

Portfolio Pulse from Kaustubh Bagalkote

May 17, 2024 | 5:08 am