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KMI

Kinder Morgan's stock (KMI) is trading higher after the company reported its financial results for the first quarter.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:52 pm

IBTA

Ibotta's IPO shares opened for trading at $117 per share, significantly higher than the IPO pricing of $88 per share, on a total of 6,560,700 shares.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:51 pm

LLY

NVO

The GLP-1 class of weight loss drugs, including Novo Nordisk's Wegvoy and Eli Lilly's Zepbound, are facing shortages expected to last until 2025 due to high demand. Eli Lilly's production delays are attributed to the overwhelming popularity of these drugs, with efforts underway to increase production at a new facility in North Carolina. Despite these efforts, limited availability of certain doses of Eli Lilly's drugs, including Mounjaro and Zepbound, is anticipated in the near term. Sales of these drugs surged to almost $11 billion in 2023, highlighting their significant impact on the market.

Portfolio Pulse from Vandana Singh

April 18, 2024 | 4:50 pm

RIVN

Needham analyst Chris Pierce maintains a Buy rating on Rivian Automotive (NASDAQ:RIVN) but lowers the price target from $18 to $13, citing concerns over electric vehicle demand but noting better than feared demand for the R1S. Pierce updates delivery estimates for Rivian, with figures for 2024 and 2025 below consensus but 2026 and 2027 above. The R2 vehicle launch is seen as a long-term positive, though not a near-term catalyst. Rivian's strategy includes reducing planned capex by delaying the build-out of its Georgia plant. The analyst's bull case for Rivian is a $24 price target, with a bear case at $7.50. Rivian shares are up 2% to $8.93, with a 52-week range of $8.26 to $28.06, and a year-to-date decrease of 63% in 2024.

Portfolio Pulse from Chris Katje

April 18, 2024 | 4:49 pm

CSX

CSX Corp (NASDAQ:CSX) reported Q1 results, with earnings slightly declining by 2% year-over-year but still surpassing expectations. Despite disruptions from weather and the Baltimore Key Bridge collapse, CSX reaffirmed its 2024 growth targets. Analysts from BofA Securities, Goldman Sachs, Benchmark, BMO Capital Markets, and Baird provided insights, generally maintaining Buy or Outperform ratings with slight adjustments to price targets. The company's shares rose by 1.48% following the announcement.

Portfolio Pulse from Priya Nigam

April 18, 2024 | 4:49 pm

META

NVDA

Nvidia Corp has announced optimizations across all its platforms to accelerate Meta Llama 3, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:47 pm

AAPL

NVDA

SMH

TSM

VWO

Taiwan Semiconductor Manufacturing Co (TSMC) exceeded Q1 financial expectations with a 16.5% revenue increase to $18.87 billion, driven by robust demand from AI firms. Despite this, TSMC's stock declined after the announcement. Apple and Nvidia are significant clients, with Apple reserving most of TSMC's 2nm production capacity. TSMC forecasts strong demand for its 3nm and 5nm technologies in Q2, expecting revenue between $19.6 billion and $20.4 billion. The company anticipates AI servers to double their revenue contribution in 2024, with a capital expenditure forecast of $28 billion to $32 billion focused on advanced technologies.

Portfolio Pulse from Anusuya Lahiri

April 18, 2024 | 4:47 pm

ASML

NXPI

TSM

Semiconductor stocks are trading lower in response to recent earnings reports from ASML and TSMC, indicating a potential downturn in the sector.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:47 pm

HTZ

Deutsche Bank analyst Chris Woronka has maintained a Hold rating on Hertz Global Holdings (NASDAQ:HTZ) but lowered the price target from $10 to $6.

Portfolio Pulse from Benzinga Newsdesk

April 18, 2024 | 4:40 pm

AMZN

Amazon's stock has seen a significant rise, reaching a new high on April 11th and briefly surpassing its all-time peak from July 2021. With a 22% increase in 2024, the stock could potentially target the $200 mark if it breaks past its recent high. Amazon Web Services (AWS) continues to grow, nearly hitting a $100 billion annualized revenue run rate. First-quarter earnings predictions for Amazon are set at 83 cents a share on $142.6 billion in revenue, indicating a projected 11.6% sales growth. The stock's future momentum hinges on surpassing its previous all-time high, with a potential aim for the $200 level.

Portfolio Pulse from Zaheer Anwari

April 18, 2024 | 4:40 pm