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UBS

UBS Group AG (NYSE:UBS) shares surged after reporting a 46% Y/Y increase in FY24 Q1 sales to $12.74 billion, surpassing the $12.02 billion consensus. Operating profit and net profit also saw significant increases, with EPS beating expectations at $0.52 versus the $0.24 consensus. The bank highlighted its role in stabilizing financial systems through the Credit Suisse acquisition, achieving $5 billion in annualized gross cost savings. UBS anticipates further savings and the completion of the UBS and Credit Suisse merger by May 31. The bank also plans a new $2B buyback and job cuts in Switzerland. UBS shares are up 6.34%.

Portfolio Pulse from Lekha Gupta

May 07, 2024 | 5:59 pm

LI

NIO

XPEV

Chinese EV stocks, including LI, NIO, and XPEV, are trading lower due to broader weakness in US-listed Chinese stocks and a reported decline in Tesla's China sales for April.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 5:56 pm

BSGM

BioSig Technologies has regained compliance with bid price requirements, according to a May 6, 2024, SEC filing.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 5:52 pm

BTCUSD

Cryptocurrency trader 0xsmac remains highly optimistic about the crypto market's future, suggesting we're only 1/3 through the current bull run. He highlights the early stage of institutional and retail investment, the impact of a Bitcoin ETF approval, and the unique market dynamics, including the role of memecoins and the recent Bitcoin halving, as indicators of a robust appetite for digital assets. The upcoming Future of Digital Assets event on Nov. 19 is set to further discuss these trends.

Portfolio Pulse from Murtuza Merchant

May 07, 2024 | 5:50 pm

SNOW

Snowflake shares are trading lower, potentially in sympathy with Datadog's drop following its Q1 earnings report.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 5:50 pm

FVRR

UPWK

Goldman Sachs reports that the recent surge in U.S. immigration has helped stabilize wages and inflation, avoiding an overheated economy. This rebound in immigration levels, surpassing pre-Covid-19 trends by 1.8 million, has filled labor gaps, especially in low-wage sectors like leisure and hospitality, mitigating extreme wage and price pressures. The report highlights that immigration impacts wage growth and inflation modestly, with potential future declines in immigration not posing significant risks to economic forecasts. Shares of Fiverr International Inc. (FVRR) and Upwork Inc. (UPWK) rallied during the pandemic due to labor market tightness.

Portfolio Pulse from Piero Cingari

May 07, 2024 | 5:47 pm

BABA

BILI

NTES

US-listed Chinese stocks, including Alibaba (BABA), Bilibili (BILI), and NetEase (NTES), are trading lower after recent gains during Golden Week. The decline is attributed to China tightening hedge fund rules and reports of decreasing consumer confidence.

Portfolio Pulse from Benzinga Newsdesk

May 07, 2024 | 5:46 pm

GE

Financial giants have shown a bearish sentiment on GE Aero (NYSE:GE) through unusual options trading activity, with a mix of bullish and bearish trades but a higher value in calls. The price target window is between $125.0 and $210.0. GE Aerospace, a leader in aircraft engines, has seen its stock price increase by 1.1% to $169.82, with market experts issuing a consensus target price of $182.4. Analyst ratings vary, with Goldman Sachs and Wells Fargo providing the highest target prices at $190 and $192, respectively.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 5:45 pm

AFRM

Affirm Holdings (NASDAQ:AFRM) has seen significant options trading activity, with a bullish bias among big-money investors. Benzinga's options scanner revealed 12 unusual trades, with a sentiment split of 66% bullish and 33% bearish. The trades target a price range of $25.0 to $70.0 for AFRM over the next 3 months. The largest trades include both calls and puts, with the most notable being a bullish call sweep for a strike price of $32.50 expiring on 01/17/25. AFRM's stock is currently up by 0.44%, with a trading volume of 3,903,963 and an RSI indicating it may be approaching overbought territory. The next earnings report is due in 1 day.

Portfolio Pulse from Benzinga Insights

May 07, 2024 | 5:45 pm

SHOP

Shopify Inc (NYSE:SHOP) is set to report its Q1 earnings with expectations of 17 cents EPS and $1.845 billion in revenues. Despite a bullish technical trend indicating a potential reversal, analysts predict a downside with a target price of $63.17, suggesting a -17.70% downside potential. The stock has risen 18.44% over the past year but is down 2.04% YTD.

Portfolio Pulse from Surbhi Jain

May 07, 2024 | 5:40 pm