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AVAV

GIS

TOVX

UNF

General Mills, AeroVironment, UniFirst Corporation, Theriva Biologics, and Micron Technology are the stocks to watch on Wednesday. General Mills is expected to report quarterly earnings of $1.06 per share on revenue of $5.17 billion. AeroVironment reported downbeat earnings for its fourth quarter, while sales topped estimates. UniFirst Corporation is expected to have earned $1.79 per share on revenue of $564.18 million. Theriva Biologics received Orphan Drug Designation from the FDA for VCN-01 for the treatment of pancreatic cancer. Micron Technology is expected to post a quarterly loss at $1.57 per share on revenue of $3.67 billion.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 8:12 am

FFIE

PLTR

Faraday Future Intelligent Electric (FFIE) has secured a $90 million funding commitment led by ATW Partner Funds, with participation from Senyun International. The funding will support the production and delivery of Faraday’s luxury electric SUV, the FF 91. The company is also considering a reverse stock split to increase the market price of its class A common stock and reduce the risk of delisting from the Nasdaq Capital Market.

Portfolio Pulse from Anan Ashraf

June 28, 2023 | 7:20 am

ADAUSD

BTCUSD

DOGEUSD

ETHUSD

A Dogecoin wallet that had been inactive for over 9.3 years has reawakened, now holding more than $1.31 million worth of Dogecoin. This coincides with Circle CEO Jeremy Allaire's expectation of significant demand for digital assets, including Dogecoin, Bitcoin, Ethereum, and Cardano, in emerging markets. The wallet owner is speculated to have acquired the tokens shortly after Dogecoin's launch in 2013. At the time of writing, DOGE was trading at $0.065, up 0.67% in the last 24 hours.

Portfolio Pulse from Mehab Qureshi

June 28, 2023 | 7:01 am

GIS

UNF

WBA

The CNN Money Fear and Greed index moved to the 'Extreme Greed' zone as U.S. stocks closed higher on Tuesday. Dow Jones recorded gains for the first time in seven days. Walgreens Boots Alliance shares dropped over 9% after the company lowered its full-year profit forecast and reported downbeat quarterly earnings. Investors are awaiting earnings results from General Mills, UniFirst Corporation, and Micron Technology.

Portfolio Pulse from Lisa Levin

June 28, 2023 | 6:32 am

BABA

BIDU

NVDA

TCEHY

The US is considering updating export controls on AI chips to limit China's access to advanced technologies with military applications. This could impact companies like Nvidia Corp. Meanwhile, China is attracting billionaires to participate in the AI race, with companies like Tencent Holdings, Alibaba Group Holding, and Baidu Inc. successfully luring renowned entrepreneurs and engineers. China's AI sector is expected to spend an estimated $15 billion on AI technology this year.

Portfolio Pulse from Ananya Gairola

June 28, 2023 | 5:50 am

QQQ

SPY

Jurrien Timmer, Director of Global Macro at Fidelity, believes the upcoming earnings season is crucial for justifying the current trend as an aspiring bull market. The S&P 500 is currently trending at about 19x its estimated 12-month earnings, above its historic average of 15.6x. Timmer suggests that the market's current valuation pivot will be justified if earnings bottom out late this year while showing just a modest drop. The SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust Series 1 (QQQ) both saw gains recently.

Portfolio Pulse from Bhavik Nair

June 28, 2023 | 4:49 am

AAPL

Jim Cramer, a prominent market commentator, has advised investors not to be afraid of paying more for high-quality stocks, as they are less likely to fail. He also emphasized the importance of patience in investments, using Apple Inc's stock as an example, which declined from over $33 to nearly $23 eight years ago but has since risen over 8 times. He advised investors to stick with companies that have quality products, customer loyalty, a steady revenue stream, and a strong cash position.

Portfolio Pulse from Bhavik Nair

June 28, 2023 | 4:00 am

LYV

Concert ticket prices have surged significantly, leading to speculations about their potential impact on inflation. Fans are paying high amounts to see top music acts like Taylor Swift and Bruce Springsteen. The U.S. Labor Department’s inflation rate for live-performing admission events is currently 2.6 percentage points more than U.S. headline inflation. Live Nation Entertainment (NYSE:LYV) reported a 41% rise in ticket sales in the first quarter, with prices up by double digits.

Portfolio Pulse from Benzinga Newsbot

June 28, 2023 | 3:29 am

AMD

ASTS

BDTX

NVDA

TSLA

U.S. stocks traded higher with the Nasdaq Composite gaining more than 200 points. Tesla, Nvidia, Black Diamond Therapeutics, Advanced Micro Devices, AST SpaceMobile, and Micron Technology were among the top stocks that gained attention. Tesla's new registrations in China accelerated, Black Diamond Therapeutics demonstrated anti-tumor activity, Nvidia partnered with Snowflake, Advanced Micro Devices saw a purchase from ARK Investment Management, AST SpaceMobile announced a public offering, and Micron Technology saw a bearish stance from a large investor.

Portfolio Pulse from Benzinga Newsbot

June 28, 2023 | 2:43 am

QQQ

SPY

Mohamed El-Erian, Allianz's chief economic adviser, has expressed confidence in the latest set of economic data, stating that there is no reason for the US to fall into recession. He highlighted the rise in The Conference Board Consumer Confidence Index and the upbeat housing market data. The Nasdaq Composite and the S&P 500 ended over 1% higher on Tuesday. The SPDR S&P 500 ETF Trust (NYSE:SPY) closed 1.1% higher while the Invesco QQQ Trust Series 1 (NASDAQ:QQQ) gained 1.72% on Tuesday.

Portfolio Pulse from Bhavik Nair

June 28, 2023 | 2:15 am