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U.S. Secretary of State Antony Blinken clarified that U.S. export controls on advanced computing chips to China are not aimed at hindering China's economic or technological progress but are focused on sensitive technology that could pose a security threat. Despite stringent controls affecting companies like Nvidia and AMD, Intel and Qualcomm have been granted export licenses to supply chips to Huawei. This policy aims to balance national security concerns with the economic interdependence between the U.S. and China.

Portfolio Pulse from Ananya Gairola

April 27, 2024 | 7:45 am

FRBK

FULT

U.S. regulators have seized Republic First Bancorp (OTC:FRBK) and facilitated its sale to Fulton Bank, a subsidiary of Fulton Financial Corp (NASDAQ:FULT), amid ongoing regional banking challenges. This move comes after Republic First's failed negotiations with investors and marks a significant expansion for Fulton in the Philadelphia area, with the acquisition of Republic Bank's assets and deposits.

Portfolio Pulse from Rounak Jain

April 27, 2024 | 6:23 am

GOOG

META

MSFT

TSLA

Billionaire investor Bill Gross advises against investing in tech stocks despite Microsoft and Alphabet's strong quarters, recommending value stocks instead. He highlights Western Midstream Partners and MPLX as his holdings and suggests Microsoft as the only tech stock to consider if necessary. Gross also questions the value of holding bonds with rising yields.

Portfolio Pulse from Ananya Gairola

April 27, 2024 | 5:54 am

AMD

NVDA

The U.S. and China have agreed to hold their first high-level talks on artificial intelligence (AI), as confirmed by U.S. Secretary of State Antony Blinken. These discussions aim to address potential risks and safety concerns related to AI. Amidst ongoing trade and national security issues, the U.S. has imposed restrictions on the export of advanced AI chips to China, affecting companies like Nvidia Corp. (NVDA) and Advanced Micro Devices (AMD). The talks could influence the future of technological competition and cooperation between the two nations.

Portfolio Pulse from Rounak Jain

April 27, 2024 | 3:13 am

TSLA

Tesla Inc has begun sending out Cybertruck delivery invites to its long-term shareholders, as announced by company executive Martin Viecha. This initiative, exclusive to shareholders who have met specific criteria regarding their shareholding duration and quantity, aims to expedite the delivery of the Foundation Series Cybertruck. The verification of shareholder statements has caused delays in sending out invites. Tesla plans to deliver 250,000 units of the Cybertruck starting in 2025, with over a million reservations already made. The conversion rate from reservations to orders has been positive, indicating a strong demand for the Cybertruck.

Portfolio Pulse from Anan Ashraf

April 27, 2024 | 2:55 am

AAPL

AMZN

LLY

Jim Cramer, host of CNBC's 'Mad Money,' discussed the upcoming week's key events for investors, including earnings reports from Apple Inc. (AAPL), Amazon.com Inc. (AMZN), and Eli Lilly and Co. (LLY). He emphasized the significance of the Federal Reserve meeting and the Department of Labor's employment figures. Cramer expressed concerns about the economy's strength and highlighted Apple's collaboration with Nvidia as a potential boost for Apple's stock. He also criticized the media's focus on Apple's challenges over the successes of Google and Microsoft.

Portfolio Pulse from Ananya Gairola

April 27, 2024 | 2:33 am

TSLA

Tesla Inc (NASDAQ:TSLA) increased the price of its Model 3 Performance in the U.S. by $1,000, setting the new price at $53,990. This adjustment comes shortly after the model's launch and ahead of Tesla's first-quarter results. The Model 3 Performance is eligible for a $7,500 federal EV tax credit, effectively reducing its price for eligible buyers. Tesla had previously reduced prices across other models but left the refreshed Model 3 unchanged. Tesla's stock closed down 1.11% at $168.28 per share on Friday, marking a 32.26% decline year-to-date.

Portfolio Pulse from Anan Ashraf

April 27, 2024 | 2:18 am

AAPL

GOOG

GOOGL

MSFT

Apple Inc. is in discussions with Microsoft-backed OpenAI to potentially integrate OpenAI's technology into the iPhone's next operating system, iOS 18. These talks mark a reopening of discussions between Apple and OpenAI, with the possibility of incorporating AI features into future iPhones. Apple is also in ongoing discussions with Alphabet Inc.'s Google about licensing Google's Gemini AI models for future iPhones. The outcome of these discussions could significantly impact the iPhone's AI capabilities, as Apple seeks to enhance its devices with new AI features.

Portfolio Pulse from Rounak Jain

April 27, 2024 | 2:13 am

TSLA

Elon Musk, CEO of Tesla Inc (NASDAQ:TSLA), has responded to accusations of consumer fraud made by Facebook co-founder Dustin Moskovitz. Moskovitz accused Tesla of fraudulent practices similar to Enron, including lying about Full Self-Driving capabilities, range, and possibly inflating odometers. He also criticized Tesla's financial practices, particularly in recognizing deferred revenue. Musk dismissed Moskovitz's allegations on X, mocking him. This controversy comes as Tesla faces a 9% revenue decrease year-over-year in Q1 2024.

Portfolio Pulse from Ananya Gairola

April 27, 2024 | 1:45 am

IDXX

IDEXX Laboratories (NASDAQ:IDXX) has delivered an average annual return of 16.57% over the past 5 years, outperforming the market by 5.0% annually. With a current market capitalization of $41.47 billion, a $1000 investment in IDXX 5 years ago would be worth $2,164.47 today.

Portfolio Pulse from Benzinga Insights

April 26, 2024 | 9:30 pm