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PR

Permian Resources Corp (NYSE:PR) announced a secondary public offering of 51.8 million shares of Class A common stock by affiliates of EnCap Investments, NGP Energy Capital, Pearl Energy Investments, Riverstone Investment Group, and a board member. The company will not sell any shares or receive proceeds from this offering. Concurrently, Permian plans to purchase 1.8 million OpCo Units from some sellers, with the purchase conditioned on the offering's completion.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 10:39 am

FTRE

Fortrea Holdings (NASDAQ:FTRE) reported Q1 2024 adjusted EPS of $(0.04), missing the $0.01 estimate, and sales of $662.1M, missing the $754.577M estimate. This represents a significant decrease in performance compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 10:33 am

PENN

B of A Securities analyst Shaun Kelley downgrades PENN Entertainment (NASDAQ:PENN) from Buy to Neutral and lowers the price target from $28 to $17.5.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 10:27 am

AMZN

VCR

XLY

Amazon.com Inc is investing over $1.3 billion in its French operations, aiming to create 3,000 jobs, focusing on cloud infrastructure for AI and logistics. This is part of France's push to become an AI hub, with involvement from other tech giants. Amazon's stock is accessible through ETFs like XLY and VCR.

Portfolio Pulse from Shivani Kumaresan

May 13, 2024 | 10:20 am

HUYA

Huya Live reported an increase in average mobile MAUs to 82.6 million in Q1 of 2024 from 82.1 million in Q1 of 2023.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 10:06 am

BNED

JAN

TVGN

JanOne Inc. shares surged 19% in pre-market trading following the announcement of its plans to acquire ALT 5 Sigma Inc. Other stocks also showed significant movement in pre-market trading, with Tevogen Bio Holdings, Nauticus Robotics, GameStop Corp., and KOSS Corp among the gainers. Conversely, Barnes & Noble Education, Seritage Growth Properties, and Applied DNA Sciences were among the notable losers.

Portfolio Pulse from Avi Kapoor

May 13, 2024 | 9:46 am

AAPL

Apple Inc. has seen a significant increase in iPhone exports from India, with April figures nearly doubling to $1.1 billion from $580 million the previous year. This growth could position India as Apple's second-largest iPhone manufacturing hub after China. Currently, 14-15% of Apple's total iPhone production is in India, with projections to rise to 26% by 2026. Apple's production in India for FY2024 reached $14 billion, with exports over $10 billion, marking the highest annual export value by any company in India. Apple's contract manufacturers in India, including Foxconn, Wistron (now owned by Tata Group), and Pegatron (in talks for a majority stake sale to Tata), benefit from India's production-linked incentive (PLI) scheme. Apple's market presence in India is also growing, with a 38% YoY growth and aims to increase its local market share.

Portfolio Pulse from Shomik Sen Bhattacharjee

May 13, 2024 | 9:37 am

TSLA

Used Tesla Cybertrucks are being listed for sale at premium prices, with over 145 listed on CarGurus and about 125 on Kelly Blue Book. Despite Tesla's attempts to curb resale, including a clause requiring Tesla's written consent for resale within a year of delivery, prices for used Cybertrucks have reached over $200,000. Tesla plans to deliver 250,000 Cybertrucks per year starting in 2025.

Portfolio Pulse from Anan Ashraf

May 13, 2024 | 9:17 am

AMD

AMD's new Instinct MI300A APU is powering three supercomputers in the latest Top500 rankings, showcasing its leadership in high performance computing (HPC). The Frontier supercomputer remains the world's fastest, while three new systems at Lawrence Livermore National Laboratories mark the first Top500 inclusion of supercomputers powered by the MI300A APU. AMD's presence on the Top500 list has increased by 29 percent from the previous year, with 156 supercomputers now powered by AMD technology.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:14 am

TME

Tencent Music Entertainment (TME) reported a Q1 decrease in Monthly Active Users (MAU) for its Online Music and Social Entertainment services. Online Music MAUs fell by 2.4% year-over-year to 578 million, while Mobile MAUs for Social Entertainment plummeted by 28.7% to 97 million.

Portfolio Pulse from Benzinga Newsdesk

May 13, 2024 | 9:08 am