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OUST

Genpact Limited reported better-than-expected Q1 financial results, leading to a 6.8% rise in its shares. Other companies like Novavax, iTeos Therapeutics, and Sweetgreen also saw significant gains following positive financial results or strategic announcements. The overall market sentiment was positive, with the Dow Jones gaining over 100 points.

Portfolio Pulse from Avi Kapoor

May 10, 2024 | 2:48 pm

AEMD

BMY

MRK

Aethlon Medical Inc (NASDAQ:AEMD) announced positive results from an in vitro study of its Hemopurifier in removing extracellular vesicles from plasma, a key step ahead of its planned phase 1 oncology trials in Australia and India. The Hemopurifier aims to treat patients with solid tumors under anti-PD-1 monotherapy, including treatments like Merck & Co Inc's (NYSE:MRK) Keytruda and Bristol-Myers Squibb Co's (NYSE:BMY) Opdivo. AEMD shares rose 6.11% following the announcement.

Portfolio Pulse from Vandana Singh

May 10, 2024 | 2:46 pm

BLNK

FDIS

TSLA

XLY

Elon Musk's decision to overhaul Tesla's EV charging team and cut about 500 people may disrupt the Biden administration's EV infrastructure plans. This move has led to a surge in inquiries from landlords to other charging companies and could impact the National Electric Vehicle Infrastructure (NEVI) program's rollout. Tesla's strategy shift may also create opportunities for competitors like Blink Charging. Tesla's stock and exposure through ETFs like XLY and FDIS could be influenced by these developments.

Portfolio Pulse from Shivani Kumaresan

May 10, 2024 | 2:46 pm

LCID

NKLA

RIVN

Rivian, Lucid, and Nikola are implementing cost-cutting measures and strategic adjustments to navigate a challenging market, aiming for profitability amid slowed EV adoption and increased competition. These efforts include job cuts, production optimizations, and capital expenditure reductions. Despite these efforts, Rivian and Lucid reported wider Q1 losses than expected, while Nikola beat expectations slightly but with lower revenue. The companies are focusing on cash preservation and operational efficiency to survive the 'EV winter'.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:46 pm

GNRC

Generac Holdings (GNRC) has seen a decrease in short interest, now at 5.9% of its float, lower than the peer group average of 11.88%. This reduction from 3.06 million shares suggests a more bullish sentiment among investors, as short interest can indicate market sentiment towards a stock. The current short interest represents a 2.5-day average cover time based on trading volume.

Portfolio Pulse from Benzinga Insights

May 10, 2024 | 2:45 pm

EOG

EOG Resources's (NYSE:EOG) short interest has increased by 9.52% since the last report, with 10.56 million shares sold short, representing 1.84% of its float. It would take about 3.24 days to cover all short positions. This rise in short interest can indicate a bearish market sentiment towards EOG, although it has less short interest compared to its peers' average of 7.34%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on its decline.

Portfolio Pulse from Benzinga Insights

May 10, 2024 | 2:45 pm

RBC

RBC Bearings (NYSE:RBC) has seen an increase in short interest, now at 4.34% of its float, higher than the peer group average of 3.12%. This rise to 1.12 million shares shorted suggests a bearish market sentiment, though it doesn't necessarily predict a near-term price drop. It takes traders approximately 10.52 days to cover these short positions, indicating a significant commitment to their bearish bets.

Portfolio Pulse from Benzinga Insights

May 10, 2024 | 2:45 pm

BYDDF

STLA

TSLA

VWAGY

BYD Co Ltd, backed by Warren Buffett, aims to become the leading battery-electric vehicle (BEV) seller in Europe, surpassing Volkswagen AG, Tesla Inc., and Stellantis NV. The company plans significant investments in factories, dealerships, and marketing in Europe, including a budget model priced under €20,000. Despite a 42% drop in electric vehicle deliveries in Q1 2024, BYD's market share in Western Europe was 1.7%. The company is constructing a new factory in Hungary and scouting locations for a second plant.

Portfolio Pulse from Benzinga Neuro

May 10, 2024 | 2:41 pm

SPY

Fed's Kashkari highlights a long-term housing supply challenge in the U.S., noting that higher interest rates will likely reduce housing supply in the short term as the Fed focuses on reducing inflation.

Portfolio Pulse from Benzinga Newsdesk

May 10, 2024 | 2:37 pm

SPHR

Sphere Entertainment Co (NYSE:SPHR) reported a significant year-on-year sales growth of 98% in Q3 FY24, reaching $321.3 million, but fell short of the analyst consensus estimate of $324.63 million. The Sphere segment saw a substantial revenue increase, while the MSG Networks segment experienced a decline. Despite higher operating expenses, the operating loss narrowed, and adjusted operating income improved significantly. However, the EPS loss was greater than expected. Shares dropped 5.10% to $39.08.

Portfolio Pulse from Shivani Kumaresan

May 10, 2024 | 2:37 pm