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BYDDF

LI

NIO

TSLA

XPEV

DigiTimes reports that the recovery of the Chinese auto market is expected to be insignificant in June. The report may mention US-listed companies BYD Co Ltd (BYDDF), Li Auto Inc. (LI), NIO Inc. (NIO), Tesla Inc. (TSLA), and XPeng Inc. (XPEV).

Portfolio Pulse from Charles Gross

June 28, 2023 | 11:48 am

AMD

NVDA

SMH

SOXX

Nvidia Corp, Advanced Micro Devices, and other chipmakers are trading lower amid reports of the U.S. adopting a stricter stance over China's AI ambitions. The U.S. plans to update export controls on AI chips to limit China's access to advanced technologies with military applications. This has led to a growing market for smuggled Nvidia GPUs in China. Semiconductor ETFs VanEck Semiconductor ETF and IShares Semiconductor ETF are also trading lower.

Portfolio Pulse from Anusuya Lahiri

June 28, 2023 | 11:47 am

RETA

Reata Pharmaceuticals' shares are trading higher following the FDA's approval of a Prior Approval Supplement to update Skyclarys (Omaveloxolone) Drug Substance Specification for Friedreich's Ataxia in adults and adolescents.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 11:45 am

GIS

General Mills Inc (NYSE:GIS) reported Q4 FY23 sales growth of 3% YoY to $5.03 billion, missing the analyst consensus of $5.17 billion. Adjusted EPS of $1.12 topped the consensus of $1.07. The company held $585.5 million in cash and equivalents and the board increased the quarterly dividend by 9% to $0.59 per share. However, shares are trading lower by 4.02% at $77.65 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

June 28, 2023 | 11:43 am

TSM

Taiwan Semiconductor Manufacturing Company (TSMC) is expected to see a substantial increase in fab utilization rates in the second half of the year, particularly for sub-7nm process manufacturing, according to DigiTimes.

Portfolio Pulse from Charles Gross

June 28, 2023 | 11:43 am

AVAV

AeroVironment has issued strong financial year 2024 guidance, leading to a rise in its share prices.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 11:41 am

COHR

Coherent's stock has been downgraded from Buy to Neutral by B. Riley Securities, leading to a decrease in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 11:40 am

F

GM

LCID

RIVN

TM

TSLA

Cox Automotive predicts General Motors (GM), Toyota Motor (TM), and Ford Motor (F) will lead in new vehicle sales in H1 2023. Total new vehicle sales volume is expected to rise by 11.6% YoY, reaching 7.65 million units. EV sales in the U.S. are forecasted to surpass 1 million units. Significant sales growth is anticipated for Tesla (TSLA), Rivian (RIVN), and Lucid Motors (LCID), with sales increases of 26.7%, 183.1%, and 215.2% respectively.

Portfolio Pulse from Anan Ashraf

June 28, 2023 | 11:40 am

PINS

Pinterest shares are trading higher following an upgrade from Wells Fargo, which changed its rating from Equal-Weight to Overweight.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 11:38 am

OPK

PFE

The FDA has approved the NGENLA (somatrogon-ghla) treatment for pediatric growth hormone deficiency, a partnership product of Opko Health and Pfizer. This has led to a rise in Opko Health's shares.

Portfolio Pulse from Benzinga Newsdesk

June 28, 2023 | 11:38 am