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BAC

Bank of America Corp (NYSE:BAC) reported Q1 earnings surpassing expectations with an adjusted net income of $7.2 billion and EPS of 83 cents, beating the 77 cents consensus. Revenue declined slightly, but still exceeded forecasts. Following this, BAC declared a quarterly dividend of 24 cents per share. The article also explains how investors can earn monthly income from BAC's dividends, requiring ownership of a significant number of shares to achieve specific income goals. BAC's stock price fell 1.5% to close at $35.79.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 12:10 pm

ETHUSD

PEPEUSD

SHIBUSD

Revolut's customers have significantly increased their holdings in Pepe (PEPE), surpassing Ethereum (ETH) in total holdings. PEPE's price is down 1.3% despite a 309% increase in holdings and a 1,700% increase in dollar value. Shiba Inu (SHIB) also saw growth, with a 23% increase in tokens and a 300% increase in dollar value. Large transaction volumes for PEPE have grown by 11.2%, and 71% of PEPE holders remain in profit despite a 15.5% price drop over the past month. Traders are optimistic about PEPE's potential for a breakout.

Portfolio Pulse from Khyathi Dalal

April 30, 2024 | 12:10 pm

IPGP

IPG Photonics Corporation (NASDAQ:IPGP) announced the appointment of Mark Gitin as the next CEO effective June 5, 2024. Gitin, with over 30 years in the lasers and optics sector, currently oversees the Photonics Solutions Division at MKS Instruments, Inc. He succeeds Dr. Eugene Scherbakov, a co-founder of IPG, who will remain on the Board and serve as an advisor. The transition is part of IPG's strategic objectives to diversify revenue, invest in growth products, and enhance stockholder value. Dr. Scherbakov has significantly contributed to IPG's growth and strategic repositioning, including shifting manufacturing out of Russia and focusing on key markets.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:10 pm

MLCO

Melco Resorts & Entertainment (MLCO) reported Q1 earnings of $0.04 per share, missing the $0.05 estimate but beating the $0.03 consensus by 46.67%. Year-over-year, this marks a 131.65% increase from a $(0.14) loss per share. Q1 sales were $1.11B, narrowly missing the $1.12B estimate by 0.71% but representing a 55.20% increase from $716.48M in the same period last year.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:10 pm

LDOS

Leidos Holdings' shares surged following the announcement of Q1 results surpassing expectations and an updated forecast for FY24, signaling strong performance and optimistic future projections.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:09 pm

JYD

Jayud Global Logistics Limited (NASDAQ:JYD) has announced the acquisition of a 51% controlling interest in HYTX Warehouse Inc, marking its expansion into the North American logistics market. This move is aimed at capitalizing on the expected global e-commerce logistics growth of over 10% per year. The acquisition is performance-based, with payment to be made partly in cash and partly in Jayud ordinary shares in 2027. This strategic acquisition positions Jayud to benefit from the booming e-commerce and air cargo demand, with HYTX's expertise expected to enhance Jayud's logistics services.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:08 pm

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CYCC

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MRIN

WGS

GeneDx Holdings Corp. (NASDAQ:WGS) shares surged 37.4% in pre-market trading after reporting Q1 financial results that exceeded analyst expectations and raising its FY2024 sales guidance. Other stocks also showed significant movement in pre-market trading, with notable gainers including Cyclacel Pharmaceuticals, Greenwave Technology Solutions, and Marin Software, among others. Losers in pre-market trading included Lichen China Limited, Medifast, and iClick Interactive Asia Group.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 12:08 pm

MSC

Studio City Intl Hldgs (NYSE:MSC) reported a significant improvement in Q1 results with losses narrowing to $(0.02) per share from $(0.17) YoY and sales increasing to $150.16M from $51.47M YoY.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 12:08 pm

CHGG

COUR

EAT

MULN

In Tuesday's pre-market session, 12 consumer discretionary stocks showed significant movement. Mullen Automotive, LL Flooring Holdings, Worksport, Tupperware Brands, Brinker International, and Allbirds were among the gainers, with Mullen Automotive leading with a 21.1% increase. On the losing side, Chegg, Coursera, Fenbo Holdings, Nova Lifestyle, Container Store Group, and Lottery.com saw declines, with Chegg experiencing the largest drop of 16.2%. Notably, Brinker International's Q3 earnings were released today, while Chegg and Coursera's Q1 earnings were announced yesterday.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 12:06 pm

CYCC

GEHC

WGS

In Tuesday's pre-market session, health care stocks showed significant movement. Cyclacel Pharmaceuticals, GeneDx Hldgs, BioRestorative Therapies, Vaccinex, Addex Therapeutics, and Tenet Healthcare were among the gainers, with notable increases in their stock prices. On the other hand, SHL Telemedicine, Nektar Therapeutics, GlucoTrack, GE HealthCare Techs, Virios Therapeutics, and 180 Life Sciences experienced declines. The movements were influenced by factors such as Q1 earnings reports for some companies.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 12:06 pm