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TSLA

XPEV

XPeng Inc. (NASDAQ:XPEV) shares rose after reporting a 33% year-over-year increase in April EV deliveries, totaling 9,393 vehicles. This includes 1,959 X9 vehicles, with nearly 10,000 units delivered since its launch. Year-to-date, XPeng has delivered 31,214 EVs, marking a 23% increase from the previous year. XPeng's CEO welcomed Tesla Inc.'s (NASDAQ:TSLA) full self-driving software approval in China, anticipating a decade of 'Smart EVs'. Analysts have a mixed outlook on XPEV, with an average 12-month price target of $11.33, suggesting potential upside.

Portfolio Pulse from Erica Kollmann

May 02, 2024 | 7:26 pm

RIVN

Rivian Automotive, Inc. (NASDAQ:RIVN) shares surged after receiving an $827 million incentive package from the State of Illinois for plant expansion and workforce development. The funds will support the expansion of Rivian's Normal, IL plant, public infrastructure improvements, and job training programs. Rivian's CEO expressed gratitude for the state's support, highlighting the partnership's role in bringing the R2 midsize SUV to market and enhancing EV consumer choice. Rivian's stock has risen over 18% in the past five days, with a 6.62% increase to $9.82 at the time of publication.

Portfolio Pulse from Erica Kollmann

May 02, 2024 | 7:24 pm

SQ

Block shares are experiencing a rebound after a decline on Wednesday due to reports that federal prosecutors are investigating the company's financial transactions.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:24 pm

EL

Estee Lauder shares are trading higher, rebounding after a drop on Wednesday due to weak guidance.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:21 pm

ALB

Albemarle shares are trading higher despite mixed Q1 results, indicating investor optimism or other factors influencing the stock's performance.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:21 pm

NOC

Investors have shown a bullish stance on Northrop Grumman (NYSE:NOC), with a significant amount of money moving into options trades. Benzinga's options scanner revealed 18 unusual options trades, with a sentiment split of 66% bullish and 27% bearish. The trades include 3 puts and 15 calls, targeting a price range of $370.0 to $580.0 for NOC over the last 3 months. The current market position of NOC shows a trading volume of 669,215, with the price down by -1.98% at $476.75, and the stock may be approaching overbought territory. The anticipated earnings release is in 84 days.

Portfolio Pulse from Benzinga Insights

May 02, 2024 | 7:16 pm

PFE

Pfizer Inc (NYSE:PFE) reported Q1 earnings with adjusted EPS of 82 cents, down 33% YoY but above consensus of 54 cents. Sales were $14.9 billion, down 20%, yet above the $14.2 billion consensus. The decrease was attributed to lower Comirnaty and Paxlovid revenues and a $107 million foreign exchange impact. Analysts have mixed sentiments, with Goldman Sachs maintaining a Buy rating and a $31 price target, BMO Capital raising its target from $33 to $36 with an Outperform rating, and Bank of America Securities keeping a Neutral rating with a $35 target. Key product performances and future catalysts were highlighted, including Padcev, Prevnar, Vindaqel, and potential from Abrysvo. PFE shares rose 2.15% to $27.77.

Portfolio Pulse from Vandana Singh

May 02, 2024 | 7:15 pm

IEF

SPTL

TLT

VGLT

The Federal Reserve's decision to keep interest rates unchanged while significantly reducing its quantitative tightening (QT) program has sparked diverse opinions on Reddit. Redditors debate the effectiveness of this decision, with some concerned about inflation and others viewing it as a move to prevent a financial crash and support the banking system. The reduction in QT is seen as potentially making long-term bonds more attractive, impacting investment strategies. ETFs like TLT, VGLT, SPTL, and IEF, which provide exposure to long-term Treasury bonds, could be affected by these changes.

Portfolio Pulse from Surbhi Jain

May 02, 2024 | 7:15 pm

VIK

Viking Holdings shares are experiencing an increase in their trading value due to post-IPO volatility.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:15 pm

PARA

PARAA

Paramount shares surged after reports emerged that Sony and Apollo have made a $26 billion acquisition offer for the company. This significant bid highlights the value seen in Paramount's assets and operations, potentially setting the stage for a major shakeup in the media and entertainment industry.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 7:12 pm