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BHP

KLAU

NEM

Reliance, Newmont, BHP, and Kaiser Aluminum reported their Q1 2024 financial results. Reliance saw a 10.3% increase in tons sold and raised its dividend by 10%. Newmont produced 2.2 million gold equivalent ounces and declared a 25 cents per share dividend. BHP proposed a £27 billion acquisition of Anglo American, aiming to become the world's top copper producer. Kaiser Aluminum reported net sales of $738 million and an adjusted EBITDA of $62 million, maintaining its full-year outlook.

Portfolio Pulse from austin@walkonholdings.com

April 26, 2024 | 1:27 pm

AAPL

NVDA

VGT

XLK

Apple Inc (AAPL) is expanding its supplier network in China while also growing its presence in Southeast Asia and India, despite geopolitical tensions and a tech conflict between the U.S. and China. The company has increased its China-based suppliers, reducing reliance on other countries, and has seen a surge in suppliers in Vietnam and Thailand. Despite diversification efforts, China remains a significant part of Apple's supply chain. Apple's global shipments dropped nearly 10%, with softening demand in China, where it offered iPhone 15 series discounts. Morgan Stanley anticipates a slight revenue increase for the March quarter but expects a significant downward revision for June quarter guidance. Apple stock has gained 4% in the last 12 months, and exposure to AAPL can be gained through ETFs like VGT and XLK.

Portfolio Pulse from Anusuya Lahiri

April 26, 2024 | 1:26 pm

AAPL

GOOG

GOOGL

INTC

META

MSFT

NVDA

SNAP

TSLA

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:21 pm

ALV

Autoliv shares are trading higher following the company's announcement that it surpassed Q1 earnings and sales estimates.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:21 pm

PEGA

Pegasystems shares are trading higher, rebounding after a decline on Thursday due to Q1 earnings.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:20 pm

AAPL

AMD

BABA

INTC

NVDA

Huawei Technologies Co. has launched its new Pura 70 series smartphones featuring the made-in-China Kirin 9010 processor, amidst U.S. sanctions targeting chip exports by Nvidia and Intel to China. The Pura 70 series' quick sell-out and the advanced capabilities of the Kirin 9010 chip signify Huawei's strong market presence and potential challenge to Apple Inc.'s iPhone in China. U.S. sanctions have prompted companies like Intel and Nvidia to adjust their strategies, with Intel obtaining a license to supply Huawei, while AMD criticizes the move as unfair. Despite these challenges, Chinese companies like Huawei and Alibaba continue to innovate and compete globally.

Portfolio Pulse from Rounak Jain

April 26, 2024 | 1:20 pm

ARCB

ArcBest shares are trading lower due to a downturn in freight stocks, triggered by disappointing earnings reports within the sector.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:20 pm

NUWE

Nuwellis, Inc. (NASDAQ:NUWE) announced a public offering of 11.25 million shares and warrants to purchase up to 16.875 million shares at $0.24 per share, aiming to raise $2.7 million. The warrants, exercisable at $0.40 per share, will expire five years post-issuance. The offering, managed by Roth Capital Partners, is set to close by April 30, 2024, with proceeds intended for working capital and general corporate purposes, including commercialization efforts.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:19 pm

ODFL

Old Dominion Freight Line's shares declined after reporting Q1 revenue that fell short of expectations. This event is part of a broader trend of underperformance in the freight sector, attributed to disappointing earnings.

Portfolio Pulse from Benzinga Newsdesk

April 26, 2024 | 1:18 pm

GOOG

GOOGL

MSFT

Tech entrepreneur Peter H. Diamandis emphasized the critical role of AI in driving earnings growth for Alphabet Inc. (GOOGL, GOOG) and Microsoft Corporation (MSFT), predicting that by 2030, companies not fully utilizing AI will be out of business. Alphabet and Microsoft have shown significant revenue increases, attributed to their leadership in AI, with Alphabet's Q1 revenue up 15% YoY and Microsoft's Q3 revenue up 17% YoY, both surpassing consensus estimates.

Portfolio Pulse from Benzinga Neuro

April 26, 2024 | 1:16 pm