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AMAT

INTC

TSM

Applied Materials, Inc. (NASDAQ: AMAT) shares are trading lower in the premarket session after reporting second-quarter results for 2024. The company generated $1.39 billion in cash from operations and distributed $1.09 billion to shareholders. Despite beating revenue and EPS estimates, the company faces temporary order halts from some semiconductor manufacturing customers. AMAT sees third-quarter revenue and earnings slightly above estimates but does not expect significant growth this year.

Portfolio Pulse from Nabaparna Bhattacharya

May 17, 2024 | 10:28 am

BTCUSD

ETHUSD

Prominent crypto trader Michael van de Poppe has sold all his Bitcoin holdings to invest in altcoins, believing they are undervalued and due for an upside. Despite Bitcoin's dominance and recent gains, van de Poppe is taking a contrarian stance, though he acknowledges significant downside risk.

Portfolio Pulse from Aniket Verma

May 17, 2024 | 10:20 am

QH

Quhuo announced that Chenxi Zhao has resigned from the Board of Directors effective May 16. The resignation was not due to any disagreement with business operations, financial reporting, controls, policies, or practices.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 10:06 am

AMD

AMZN

IYW

MSFT

NVDA

SNOW

XLK

Microsoft plans to introduce AMD's AI chips to its Azure cloud service, aiming to rival Nvidia's GPUs. This move is expected to enhance Azure's AI capabilities and alleviate the demand for Nvidia's GPUs. Microsoft will also preview new custom processors at the upcoming Build developer conference.

Portfolio Pulse from Shivani Kumaresan

May 17, 2024 | 10:05 am

SPY

The Dow Jones Industrial Average hit a record high of 40,000, providing President Joe Biden an opportunity to counter former President Donald Trump's prediction that the stock market would crash if Biden were elected. The market's performance is attributed to cooling consumer price inflation and expectations of a Federal Reserve rate cut. The SPDR S&P 500 ETF Trust (SPY) edged down 0.1% in premarket trading but is up 11.6% year-to-date.

Portfolio Pulse from Shanthi Rexaline

May 17, 2024 | 9:36 am

RLX

RLX Technology (NYSE:RLX) reported Q1 earnings per share of $0.02, beating the analyst consensus estimate of $0.02 by 10%. The company also reported quarterly sales of $76.40 million, surpassing the estimate of $74.11 million by 3.09%. This represents a significant 177.78% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 9:34 am

ASTS

CBRL

DXC

ERAS

IQ

OCGN

TELL

TTWO

DXC Technology issued weak guidance, causing its shares to fall sharply in pre-market trading. Other stocks like Cracker Barrel, Tellurian, Erasca, AST SpaceMobile, iQIYI, Ocugen, and Take-Two Interactive also recorded losses.

Portfolio Pulse from Avi Kapoor

May 17, 2024 | 9:34 am

CAN

Canaan Inc. (CAN) has reached a record-high of 1,057 Bitcoins held, surpassing the 1,000 mark for the first time.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 9:26 am

CAN

Canaan reported its Q1 2024 GAAP EPS at $(0.16), an improvement from $(0.51) year-over-year.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 9:22 am

CAN

Canaan (NASDAQ:CAN) reported Q1 sales of $35.091 million, beating the analyst consensus estimate of $30.100 million by 16.58%. However, this represents a 36.47% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 9:19 am