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PEV

Phoenix Motor Inc. (NASDAQ:PEV) has initiated the production of its fourth-generation drivetrain for Class-4 shuttle buses and trucks, marking a significant advancement in its electric vehicle offerings. The new drivetrain features enhanced efficiency, safety, and charging capabilities. The first two units of this generation will be delivered to customers in New Jersey, reinforcing Phoenix's position as a pioneer in the electric commercial vehicle market in the US.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 7:52 am

FXI

KBA

KWEB

MCHI

In the first quarter of 2024, a record number of U.S.-listed China-focused ETFs have shut down, with 13 closures reported, surpassing the previous annual records. This trend is attributed to growing investor concerns and political pressures, with both China-focused and ESG ETFs becoming 'political footballs'. Despite this, the assets held by China-focused ETFs have increased to $364 billion. Key ETFs like KWEB, KBA, MCHI, and FXI have outperformed major U.S.-equity ETFs, indicating a potential market shift.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 7:42 am

CVX

HES

Senate Majority Leader Chuck Schumer has urged the FTC to reconsider the proposed $53 billion merger between Chevron Corp and Hess Corp, citing concerns over potential gas price increases. Schumer's call for scrutiny follows the FTC's request for additional information from both companies, as the merger could significantly impact consumer prices and market competition.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 6:40 am

FORD

JAN

PSFE

STNE

TME

Tencent Music Entertainment, StoneCo, JanOne, Forward Industries, and Paysafe are stocks to watch, with earnings reports and a significant acquisition announced. TME and STNE are set for their earnings release, JAN announces acquisition plans, FORD reports a quarterly loss, and PSFE is also expected to release earnings.

Portfolio Pulse from Avi Kapoor

May 13, 2024 | 6:11 am

DNOW

PSFE

STNE

TME

The Fear & Greed Index remained neutral as the Dow Jones recorded gains for the eighth consecutive session, marking its best week of the year. Sweetgreen, Inc. saw a significant stock price increase after reporting strong Q1 sales, while DNOW Inc. experienced a decline due to disappointing financial results. The S&P 500 and Nasdaq showed mixed results, with most sectors gaining except consumer discretionary and energy. Upcoming earnings reports from Paysafe Limited, StoneCo Ltd., and Tencent Music Entertainment Group are anticipated by investors.

Portfolio Pulse from Avi Kapoor

May 13, 2024 | 6:11 am

ATLC

Atlanticus Holdings (NASDAQ:ATLC) reported Q1 2024 earnings of $1.09 per share, surpassing the $1.01 estimate, marking a 0.93% increase from last year. However, their sales of $290.706M fell short of the expected $311.361M, a significant decrease from the previous year's $261.041M.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 6:10 am

ITP

IT Tech Packaging (AMEX:ITP) reported a significant decrease in both earnings and sales for Q1, with EPS down to $(0.37) from $(0.27) YoY and sales dropping to $6.86M from $19.79M YoY.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 6:04 am

TME

Tencent Music Entertainment Group (TME) is set to release its Q1 earnings on May 13, with analysts predicting an earnings increase to 14 cents per share from 12 cents a year earlier, despite an expected revenue drop to $916.95 million from $980.64 million. Following a Q4 revenue decline of 7.2% to $971 million, TME's stock slightly fell by 0.3% to $13.34. Analysts from Morgan Stanley, Benchmark, B of A Securities, Redburn Atlantic, and CLSA have recently updated their ratings and price targets for TME.

Portfolio Pulse from Avi Kapoor

May 13, 2024 | 5:51 am

NVDA

NVIDIA Corp (NASDAQ:NVDA) has seen a significant surge in its stock price, with a 240% increase in 2023 and an additional 80% in 2024, sparking a debate among fund managers on its future investment potential. Trent Masters from Alphinity Investment Management views the stock as a good buy due to its strong market share and sustainable earnings, while Adam Coons from Winthop Investment Management advises caution due to inflated valuations. Nvidia's market value has reached $2.27 trillion, largely due to its pivotal role in AI technology, attracting major partnerships and investments. Goldman Sachs has raised its 12-month price target for Nvidia to $1,100, maintaining a 'Buy' rating.

Portfolio Pulse from Benzinga Neuro

May 13, 2024 | 5:00 am

BTCUSD

Peter Schiff, a well-known economist and Bitcoin critic, has responded to claims that he secretly owns Bitcoin, stating he enjoys the accusations but firmly disagrees with the cryptocurrency's value. Despite his opposition, he acknowledged the profit potential of Bitcoin since its inception but criticized its long-term viability. Schiff remains a vocal advocate for gold over Bitcoin, highlighting the recent bear market in Bitcoin and mocking long-term holders.

Portfolio Pulse from Aniket Verma

May 13, 2024 | 3:59 am