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CRGO

Freightos (NASDAQ:CRGO) reported better-than-expected Q1 2024 results with an adjusted EPS of $(0.06), beating the $(0.12) estimate, and sales of $5.355 million, surpassing the $5.282 million estimate. This marks a significant improvement from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 11:03 am

SPB

Spectrum Brands Holdings, Inc. (NYSE:SPB) has announced a new $500 million stock repurchase program and plans to offer $300 million in exchangeable senior notes due 2029. The proceeds will be used for capped call transactions, repurchasing up to $100 million of common stock, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 11:01 am

NIU

VWO

VXUS

Niu Technologies (NASDAQ:NIU) reported a 21% revenue growth in Q1 2024, driven by a 36.8% increase in e-scooter sales volume. However, the company faced a decline in gross margin and earnings per ADS of $(0.10), leading to a stock price drop. Niu expects Q2 revenues to grow by 10%-20% Y/Y. The stock has lost over 46% in the last 12 months. Investors can gain exposure via Vanguard FTSE Emerging Markets ETF (NYSE:VWO) and Vanguard Total International Stock ETF (NASDAQ:VXUS).

Portfolio Pulse from Anusuya Lahiri

May 20, 2024 | 10:52 am

ARKF

ARKG

ARKK

ARKQ

ARKW

ARKX

DNA

NVDA

SOFI

SPY

TSLA

Ark Investment Management, led by Cathie Wood, is facing significant underperformance in 2024, with its flagship ETF ARKK trading over 70% below its all-time high. Investment advisor Ram Ahluwalia criticizes Ark's strategy, highlighting missed bets and an over-reliance on 'vision' over fundamentals. Key ETFs like ARKG and ARKQ are also underperforming compared to the broader market.

Portfolio Pulse from Shanthi Rexaline

May 20, 2024 | 10:51 am

AAPL

Apple Inc. (NASDAQ:AAPL) has launched a significant discounting campaign for its iPhone models in China, offering discounts of up to $318. This move aims to counter increased competition from local rivals like Huawei. The campaign runs from May 20 to May 28 and follows a previous discounting effort in February. Despite challenges, some analysts remain optimistic about Apple's future in China.

Portfolio Pulse from Rounak Jain

May 20, 2024 | 10:46 am

APLD

DOYU

HDL

NEGG

RERE

YETI

Li Auto Inc. (NASDAQ:LI) reported weak Q1 results, missing both EPS and sales estimates, leading to a 4.4% drop in pre-market trading. Other stocks like Super Hi International Holding (NASDAQ:HDL), DouYu International Holdings Limited (NASDAQ:DOYU), ATRenew Inc. (NASDAQ:RERE), Newegg Commerce Inc (NASDAQ:NEGG), YETI Holdings, Inc. (NYSE:YETI), and Applied Digital Corporation (NASDAQ:APLD) also saw declines in pre-market trading.

Portfolio Pulse from Avi Kapoor

May 20, 2024 | 10:43 am

GME

RDDT

On May 17th, U.S. stock markets closed mixed with the Dow Jones surpassing 40,000 for the first time. Reddit rose 10% after partnering with OpenAI, while GameStop fell nearly 20% due to a mixed-shelf offering and lower sales expectations. Global markets, including Asia and Europe, saw gains driven by expectations of U.S. rate cuts and rising commodity prices.

Portfolio Pulse from Akanksha Bakshi

May 20, 2024 | 10:36 am

DYN

Dyne Therapeutics announced positive clinical data from its Phase 1/2 trials for DYNE-101 in Myotonic Dystrophy Type 1 and DYNE-251 in Duchenne Muscular Dystrophy. Both drugs showed significant improvements in key metrics and favorable safety profiles. The company is pursuing expedited approvals with updates expected by year-end.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 10:33 am

KITT

Nauticus Robotics, Inc. has entered into an At the Market Offering Agreement with H.C. Wainwright & Co., LLC to sell shares of common stock. The company will pay a broker fee of 3% of the gross sales price of the shares sold.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 10:26 am

CARR

CCI

JCI

LII

NRG

Elliott Investment Management has acquired a significant stake in Johnson Controls International (NYSE:JCI), valued at over $1 billion. This move comes as Johnson Controls' performance has lagged behind competitors like Carrier Global Corp. (NYSE:CARR) and Lennox International Inc. (NYSE:LII). The activist investor has a history of driving executive changes in its portfolio companies. Johnson Controls' shares are trading higher by 4.62% in premarket trading.

Portfolio Pulse from Shivani Kumaresan

May 20, 2024 | 10:24 am