Annexon Stock (NASDAQ:ANNX), Trade Ideas

Annexon

Annexon Inc is a clinical-stage biopharmaceutical company developing a pipeline of novel therapies for patients with classical complement-mediated disorders of the body, brain, and eye. Its pipeline is based on its platform technology addressing well-researched classical complement-mediated autoimmune and neurodegenerative disease processes, both of which are triggered by aberrant activation of C1q. Its pipeline of product candidates is designed to block the activity of C1q and the entire classical complement pathway in a broad set of complement-mediated diseases. Its product candidates are ANX005, for autoimmune & neurodegenerative disorders; ANX007, for neurodegenerative ophthalmic disorders; ANX1502 for Oral small molecule; and ANX009, for systemic autoimmune diseases.

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Shares of  Cutera, Inc. (NASDAQ: CUTR) fell sharply during Friday’s session after the company reported worse-than-expected fourth quarter adjusted EPS results.

Why Cutera Shares Are Trading Lower By Over 26%? Here Are Other Stocks Moving In Friday&#39;s Mid-Day Session

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Annexon Inc

A recent video posted by&nbsp;Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) showcases the latest developments in its&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38395385/elon-musk-says-tesla-optimus-humanoid-robot-might-be-available-externally-by-the-end-of-next-year-he" rel="noreferrer noopener">Optimus humanoid robot</a>&nbsp;as it performs another real-world task: precisely inserting battery cells into a tray.
What Happened: This iteration of Optimus utilizes a neural network trained on 2D camera footage and sensor data. This allows the robot to directly generate the necessary joint movements for the task, demonstrating progress from previous demonstrations.
Further advancements are planned. CEO&nbsp;Elon Musk&nbsp;revealed plans for a new hand with 22 degrees of freedom (DOF), compared to the current 11 DOF.&nbsp;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">The new Optimus hand later this year will have 22 DoF
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1787157110804910168?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
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Additionally, Musk said the actuators will be positioned within the forearm, mimicking human anatomy for a more streamlined design.
Why It Matters: According to Tesla, several Optimus robots are now deployed in their factories, undergoing daily testing and refinement on actual workstations.&nbsp;
The robots have also reportedly achieved proficiency in navigating office environments for extended periods, although faster movement remains a development focus.
In January, Tesla showed off Optimus neatly folding a shirt after taking it out of a small basket and Musk said it could "<a target="_blank" href="https://www.benzinga.com/startups/24/02/37183065/elon-musk-walks-his-spooky-tesla-humanoid-robot-around-that-will-be-able-to-do-everything-better-tha" rel="noreferrer noopener">eliminate dangerous, repetitive, boring tasks</a>,&#8221; suggesting a future where robots integrate into daily lives, helping people with both mundane chores like doing the dishes to working in hazardous conditions.
Musk has suggested the possibility of selling Optimus robots externally by the end of 2025. Cost efficiency appears to be a key factor. According to Musk, producing an Optimus robot costs roughly half as much as manufacturing a car, translating to a potential initial price range of $25,000 to $30,000, with potential reductions over time.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634543/ai-boom-puts-nvidia-suppliers-sk-hynix-samsung-in-spotlight-experts-discuss-best-so" target="_blank" rel="noreferrer noopener">AI Boom Puts Nvidia Suppliers SK Hynix, Samsung In Spotlight: Experts Discuss Best South Korean Chipmaker Investment</a>

Tech

TSLA

WATCH: Tesla's Optimus Robot Steps Up Game By Inserting Battery Cells Into Tray As Musk Promises Dexterity Boost

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Reported Earlier, China Caixin Services Purchasing Managers Index For April 52.5 Vs. 52.5 Est.; 52.7 Prior

The ongoing artificial intelligence boom has put two South Korean chipmakers, Samsung Electronics Co&nbsp;(OTC:<a class="ticker" href="https://www.benzinga.com/stock/SSNLF#OTC">SSNLF</a>) and SK Hynix, in the spotlight. Industry experts are now discussing which company is the better investment in this AI-driven market.
What Happened: The AI boom has significantly benefitted major tech companies like NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>). This has also brought attention to the supply chain for AI, especially the producers of AI graphics processing units and memory chips, <a href="https://www.cnbc.com/2024/05/06/samsung-or-sk-hynix-ones-a-better-play-on-the-ai-boom-say-pros.html">reported</a> CNBC on Sunday.
Both Samsung and SK Hynix have been at the forefront of the memory chip market. Samsung, the world&#8217;s leading DRAM chip manufacturer, recently reported a more than 900% increase in first-quarter operating profit. On the other hand, SK Hynix, after five consecutive quarters of net losses, recorded a net profit of 1.92 trillion South Korean won ($1.39 billion) in the first quarter.
When it comes to better AI investment, experts are divided. Trent Masters, global portfolio manager at Alphinity Investment Management, favors SK Hynix due to its early leadership in HBM3 and its pure memory play. He said, "While Samsung and Micron are starting to close the technology gap, the trust and dependability of SK Hynix during the initial HBM ramp will ensure that they will retain a strong presence with these customers into the future."&nbsp;
Nam Hyung Kim, partner at Arete Research, also prefers SK Hynix, citing its higher profit margins and Samsung&#8217;s ongoing challenges in its foundry business. "A view of memory market strength (HBM demand and tight legacy DRAM markets leading to pricing strength) is best reflected through ownership of SK Hynix," he said.
See Also: <a href="https://www.benzinga.com/partner/commodities/24/04/38487807/gold-stocks-outperformed-bullion-during-gold-bull-runs-over-past-20-years-junior-miners-like-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Gold Stocks Outperformed Bullion During Gold Bull Runs Over Past 20 Years – Junior Miners Like Austin Gol</a>
However, Sung Kyu Kim, analyst at Daiwa Capital Markets, sees a buying opportunity for both companies. He anticipates Samsung catching up in the near term and potentially offering more upside to its stock price.
Why It Matters: The AI boom has led to a surge in <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38634160/nvidias-ai-dominance-evident-as-tech-behemoths-from-microsoft-to-meta-and-google-ke">demand for memory chips</a>, particularly those used in AI chipsets. This has been a significant factor in the strong performance of Samsung and SK Hynix, both of which are key suppliers to Nvidia, a major player in the AI market.
SK Hynix&#8217;s HBM chips, crucial for AI chipsets, are almost sold out for 2025 due to the increasing demand for AI services, primarily driven by the <a href="https://www.benzinga.com/news/24/05/38573299/nvidia-supplier-sk-hynix-says-hbm-chipsets-crucial-for-ai-are-all-nearly-sold-out-for-2025-amid-boom">AI industry&#8217;s expansion</a>. This surge in demand has been attributed to the rapid expansion of AI services by businesses.
Moreover, SK Hynix&#8217;s plans to invest <a href="https://www.benzinga.com/government/24/03/37942967/nvidia-supplier-sk-hynix-to-launch-4b-semiconductor-facility-in-indiana-aims-to-revitalize-us-semico">approximately $4 billion</a> to establish an advanced chip-packaging facility in West Lafayette, Indiana, aligns with the Biden administration&#8217;s goals to reestablish the U.S. as a semiconductor powerhouse. This investment is expected to further strengthen SK Hynix&#8217;s position in the AI-driven market.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38630402/teslas-dogecoin-adoption-sends-crypto-market-into-frenzy-meme-coin-surges-by-over-21?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Dogecoin Adoption Sends Crypto Market Into Frenzy, Meme Coin Surges By Over 21%</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
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The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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AI Boom Puts Nvidia Suppliers SK Hynix, Samsung In Spotlight: Experts Discuss Best South Korean Chipmaker Investment

Former President Donald Trump has refuted claims of him dozing off during his New York criminal hush money trial, dismissing the reports as &#8220;FAKE NEWS MEDIA.&#8221;
What Happened: Trump, 77, took to his Truth Social account to address the allegations of him sleeping during his trial. He wrote, &#8220;I simply close my beautiful blue eyes, sometimes, listen intensely, and take it ALL in!!!&#8221; according to a CNBC <a href="https://www.cnbc.com/2024/05/02/trump-trial-lawyer-behind-stormy-daniels-hush-money-payment-testifies.html">report</a> on Thursday.
This response came after several media outlets, including The New York Times, reported that Trump appeared to have nodded off during the trial.
"Contrary to the FAKE NEWS MEDIA, I don't fall asleep during the Crooked D.A.'s Witch Hunt, especially not today," Trump wrote. 
During the 2024 presidential election, any suggestion of Trump being asleep holds particular weight, especially considering his long-standing nickname for President Joe Biden as &#8220;Sleepy Joe.&#8221;
The trial, which has now entered its 10th day, is expected to last six weeks. Trump&#8217;s presence in court is mandatory each day.
Trump&#8217;s post came after the trial lawyer, Keith Davidson, who was involved in the hush money deals with Trump, testified on Thursday. He revealed that he had texted &#8220;What have we done?&#8221; to a tabloid editor, Dylan Howard, on the night Trump won the 2016 presidential election.
Davidson and Howard were aware that their actions &#8220;may have in some way assisted the presidential campaign of Donald Trump,&#8221; Davidson said in his testimony.
See Also: <a href="https://www.benzinga.com/news/24/05/38632362/russian-troops-enter-us-military-base-in-niger-trumps-views-on-presidential-immunity-and-more-top-po?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russian Troops Enter US Military Base In Niger, Trump&#8217;s Views On Presidential Immunity And More: Top Poli</a>
Why It Matters: The trial, which revolves around a $130,000 payment to adult film actress Stormy Daniels, is a crucial element of Trump&#8217;s legal challenges. Despite the ongoing trial, Trump has <a href="https://www.benzinga.com/news/24/05/38633129/donald-trump-says-hes-not-concerned-about-his-legal-challenges-in-a-way-i-dont-care-life-is-life">publicly expressed his nonchalance</a> about the legal issues he&#8217;s facing.
Trump&#8217;s former aide, Hope Hicks, also testified in the trial, which former Department of Justice Attorney Andrew Weissmann called a &#8220;<a href="https://www.benzinga.com/news/24/05/38632767/ex-doj-attorney-says-former-trump-aides-testimony-sinks-ex-presidents-criminal-defense-big-fat-nail">big fat nail in the coffin</a>&#8221; for Trump&#8217;s criminal defense.
Trump&#8217;s legal challenges have not deterred his political ambitions. He is the presumptive Republican presidential nominee for the 2024 election. He has been vocal about his plans to address what he perceives as &#8220;anti-white sentiment&#8221; in the United States. This stance has sparked <a href="https://www.benzinga.com/news/24/05/38630888/donald-trumps-pledge-to-tackle-anti-white-sentiment-sparks-debate-on-countrys-policies-promoting-rac">debate on the country&#8217;s policies</a> promoting racial diversity and equity.
Read Next: <a href="https://www.benzinga.com/news/24/05/38630517/trumps-niece-says-ex-president-has-made-it-clear-he-wants-to-be-authoritarian-upon-returning-to-offi?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Trump&#8217;s Niece Says Ex-President Has Made It Clear He Wants To Be Authoritarian Upon Returning To Office: &#8216;Once That Happens, He Will Not Be Stopped&#8217;</a>
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Politics

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Trump Denies Dozing Off During New York Trial, Insists He Sometimes Simply Closes His 'Beautiful Blue Eyes' To 'Take It ALL In!'

Tesla&nbsp;and&nbsp;SpaceX&nbsp;CEO&nbsp;Elon Musk&nbsp;has sparked a conversation about childhood obesity and potential solutions after giving his seal of approval for&nbsp;Novo Nordisk&#8216;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NVO#NYSE">NVO</a>)&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/24/03/37989566/how-much-does-it-cost-to-make-novo-nordisks-ozempic-shockingly-low-against-1-000-price-tag-study-" rel="noreferrer noopener">Ozempic</a>, a&nbsp;GLP-1&nbsp;agonist primarily prescribed to manage&nbsp;Type 2&nbsp;diabetes.
What Happened: On Sunday, Musk responded to a post on&nbsp;X&nbsp;about childhood obesity in the U.S. and Japan. The post by&nbsp;Calley Means,&nbsp;co-founder of health startup&nbsp;Truemed,&nbsp;suggested five policies to address the issue, including banning TV pharma ads and reforming agriculture subsidies.&nbsp;
It was re-shared by billionaire investor&nbsp;Bill Ackman, who tagged&nbsp;Joe Biden,&nbsp;Donald Trump, and&nbsp;Robert Kennedy Jr.&nbsp;— the three major presidential candidates for the 2024 elections, saying, &#8220;This is great advice.&#8221;
Musk responded to Ackman&#8217;s post, saying, &#8220;Ozempic&nbsp;ftw,&#8221; indicating his support for the drug.
See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38631821/apples-q2-earnings-iphone-sales-slump-and-a-massive-110b-stock-buyback-this-week-in-appleverse?itm_source=parsely-api" rel="noreferrer noopener">Apple&#8217;s Q2 Earnings, iPhone Sales Slump, And A Massive $110B Stock Buyback: This Week In Appleverse</a>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Ozempic ftw &#x1f937;&#x200d;&#x2642;&#xfe0f;
&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1787233865758548345?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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Why It Matters: Musk&#8217;s tweet has brought attention to the growing issue of childhood obesity in the U.S. and Japan.&nbsp;Obesity has been a significant&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/12/36113639/obesity-drugs-greater-weight-loss-linked-to-prolonged-use-of-novo-nordisks-wegovy" rel="noreferrer noopener">public health concern</a>, with long-term implications for the affected individuals and the healthcare system.
This is not the first time the tech mogul has seemingly backed the blockbuster drug. Last year, Musk claimed that Ozempic&nbsp;<a target="_blank" href="https://www.benzinga.com/news/23/10/35138623/elon-musk-claims-ozempic-has-impacted-walmarts-sales-seemingly-gives-endorsement-to-drug" rel="noreferrer noopener">was affecting food sales</a>&nbsp;at Walmart.
In March, Novo Nordisk announced the&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/asia/24/03/37527875/ozempic-maker-novo-nordisk-to-introduce-obesity-drug-wegovy-in-japan-acknowledging-countrys-rising-w" rel="noreferrer noopener">launch of Ozempic&#8217;s sister drug</a>,&nbsp;Wegovy, in Japan, in response to the country&#8217;s rising obesity rates. However, the drug has also faced criticism for its high cost.&nbsp;
Previously, Senator&nbsp;Bernie Sanders&nbsp;(I-Vt.) expressed concerns about the&nbsp;<a target="_blank" href="https://www.benzinga.com/general/biotech/23/09/34970749/despite-being-costly-ozempic-wegovy-prescriptions-surge-300-over-three-years" rel="noreferrer noopener">high price of Ozempic</a>, which is sometimes used controversially for weight loss by suppressing appetite.
Earlier, the&nbsp;World Health Organization&nbsp;or&nbsp;WHO&nbsp;also cautioned that relying solely on potent and widely used&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37413349/ozempic-wegovy-other-weight-loss-drugs-wont-solve-global-obesity-crisis-affecting-1b-people-who-warn" rel="noreferrer noopener">medications for obesity won&#8217;t adequately</a>&nbsp;tackle the escalating global obesity epidemic, which currently impacts more than a billion indivi
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38605878/tim-cook-blasts-dojs-antitrust-lawsuit-against-apple-says-hes-going-to-make-sure-it-doesnt-become-a?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tim Cook Blasts DOJ&#8217;s Antitrust Lawsuit Against Apple, Says He&#8217;s Going To Make Sure It Doesn&#8217;t Become A Distraction: &#8216;We&#8217;re Going To Fight It&#8217;</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Image via Shutterstock

Health Care

General

'Ozempic Ftw:' Elon Musk Touts Novo Nordisk's Blockbuster Drug As Solution To Childhood Obesity Problem

Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) is set to release earnings results for its second quarter before the <a href="https://www.benzinga.com/quote/TSN/earnings">opening bell on May 6, 2024</a>.
Analysts expect the Springdale, Arkansas-based company to report quarterly earnings at 39 cents per share, versus a year-ago loss of 4 cents per share in the year-ago period. Tyson Foods is projected to report quarterly revenue of $13.16 billion, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
On March 14, Cal-Maine Foods completed acquisition of assets from Tyson Foods, Inc
Tyson Foods shares rose 1.8% to close at $62.02 on Friday.
Benzinga readers can access the latest analyst ratings on the <a href="https://www.benzinga.com/analyst-ratings/analyst-color/22/09/28888638/exclusive-study-finds-benzinga-analyst-ratings-data-yields-market-beating-strategie">Analyst Stock Ratings</a> page. Readers can sort by stock ticker, company name, analyst firm, rating change or other variables.
Let's have a look at how Benzinga's most-accurate <a href="https://www.benzinga.com/quote/TSN/analyst-ratings">analysts have rated the company </a>in the recent period.
<ul>
<li>Goldman Sachs analyst Adam Samuelson maintained a Neutral rating and raised the price target from $49 to $54 on April 17. This analyst has an accuracy rate of 65%.</li>
<li>JP Morgan analyst Kenneth Goldman maintained a Neutral rating and boosted the price target from $55 to $58 on Feb. 6. This analyst has an accuracy rate of 73%.</li>
<li>BMO Capital analyst Andrew Strelzik maintained a Market Perform rating and raised the price target from $52 to $55 on Feb. 6. This analyst has an accuracy rate of 83%.</li>
<li>B of A Securities analyst Bryan Spillane upgraded the stock from Underweight to Neutral and boosted the price target from $47 to $62 on Feb. 6. This analyst has an accuracy rate of 68%.</li>
<li>Piper Sandler analyst Michael Lavery maintained a Neutral rating and increased the price target from $44 to $48 on Jan. 26. This analyst has an accuracy rate of 70%.</li>
</ul>
Read This Next: <a href="https://www.benzinga.com/news/24/05/38613917/jim-cramer-says-youre-in-good-hands-with-this-very-good-regional-bank-likes-general-motors">Jim Cramer Says &#8216;You&#8217;re In Good Hands&#8217; With This &#8216;Very Good&#8217; Regional Bank, Likes General Motors</a>

Price Target

Pre-Market Outlook

Tyson Foods Likely To Report Q2 Profit; Here Are The Recent Forecast Changes From Wall Street's Most Accurate Analysts

With U.S. stock futures trading higher this morning on Monday, some of the stocks that may grab investor focus today are as follows:
<ul>
<li>Wall Street expects Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) to report quarterly earnings at 39 cents per share on revenue of $13.16 billion before the opening bell, according to data from Benzinga Pro. Tyson Foods shares rose 0.1% to $62.05 in after-hours trading.</li>
<li>Analysts are expecting The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>) to post quarterly earnings at 48 cents per share on revenue of $2.69 billion. The company will release earnings after the markets close. Williams shares gained 0.4% to $38.82 in after-hours trading.</li>
<li>Luminar Technologies, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LAZR#NASDAQ">LAZR</a>) announced a reduction in its workforce by 20% and filed for a mixed shelf. Luminar shares fell 9.5% to $1.52 in the after-hours trading session.</li>
</ul>
Check out our <a href="http://&quot;https://www.benzinga.com/premarket/">premarket coverage here</a> 
<ul>
<li>After the closing bell, The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>) is projected to post quarterly earnings at 1 cent per share on revenue of $4.82 billion. Goodyear Tire shares fell 1.5% to $12.06 in after-hours trading.</li>
<li>Analysts expect Spirit Airlines, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SAVE#NYSE">SAVE</a>) to post a quarterly loss at $1.45 per share on revenue of $1.27 billion before the opening bell. Spirit Airlines shares rose 3% to $3.8198 in after-hours trading.</li>
</ul>
Check This Out: <a href="https://www.benzinga.com/news/24/05/38613917/jim-cramer-says-youre-in-good-hands-with-this-very-good-regional-bank-likes-general-motors">Jim Cramer Says &#8216;You&#8217;re In Good Hands&#8217; With This &#8216;Very Good&#8217; Regional Bank, Likes General Motors</a>

Earnings

LAZR

SAVE

Tyson Foods, Spirit Airlines And 3 Stocks To Watch Heading Into Monday

The CNN Money Fear and Greed index showed slight improvement in the overall market sentiment, while the index remained in the &#8220;Fear&#8221; zone on Friday.
U.S. stocks settled higher on Friday, with the Dow Jones index surging 450 points following the release of jobs data.
U.S. employers added 175,000 nonfarm payrolls in April, marking a reduction from the upwardly revised 315,000 reading in March and missing the expected 238,000, the Bureau of Labor Statistics said Friday. The unemployment rate went from 3.8% to 3.9%, more than the expected 3.8%. Average hourly earnings edged down from 4.1% to 3.9% compared to April 2023, falling more than the expected dip to 4%.
Apple, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) shares gained 6% on Friday after the company reported better-than-expected results for its second quarter. The company announced a $110-billion stock buyback program and a one-penny-per-share increase in its quarterly dividend. Owens &amp; Minor, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OMI#NYSE">OMI</a>) dipped more than 25% on Friday following first-quarter results
Most sectors on the S&amp;P 500 closed on a positive note, with communication services, materials and information technology stocks recording the biggest gains on Friday. However, energy stocks bucked the overall market trend, closing the session lower.
The Dow Jones closed higher by around 450 points to 38,675.68 on Friday. The S&amp;P 500 rose 1.26% at 5,127.79, while the Nasdaq Composite jumped 1.99% at 16,156.33 during Friday's session.
Investors are awaiting earnings results from The Goodyear Tire &amp; Rubber Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GT#NASDAQ">GT</a>), The Williams Companies, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMB#NYSE">WMB</a>), and Tyson Foods, Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TSN#NYSE">TSN</a>) today.
At a current reading of 39.6, the index remained in the &#8220;Fear&#8221; zone on Friday, versus a prior reading of 39.1.
What is CNN Business Fear &amp; Greed Index?
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next: <a href="https://www.benzinga.com/news/24/05/38611902/wall-streets-most-accurate-analysts-views-on-3-tech-telecom-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts&#8217; Views On 3 Tech &amp; Telecom Stocks Delivering High-Dividend Yields</a>

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Investor Optimism Improves Slightly Following Jobs Data; Dow Jumps 450 Points

Chinese President Xi Jinping arrived in France on Sunday, commencing a two-day state visit. The visit comes at a time of escalating trade disputes between China and the European Union and against the backdrop of the ongoing conflict in Ukraine.
What Happened: President Xi&#8217;s visit to France is notable for several reasons. The Chinese leader&#8217;s arrival in Paris coincides with mounting trade tensions between China and the EU. France, in particular, has been vocal about its concerns regarding trade imbalances and the impact of the conflict in Ukraine, reported Reuters.
French President Emmanuel Macron is expected to address these issues during his discussions with Xi. Macron is also likely to seek China&#8217;s support in influencing Russia&#8217;s actions in Ukraine. The EU, including France, has been divided on its approach towards China, which could potentially weaken the EU&#8217;s ability to influence the Asian powerhouse.
Prior to Xi&#8217;s two-day tour, Macron stated in an interview with the French newspaper La Tribune, &#8220;We want to obtain reciprocity of exchanges and have the elements of our economic security taken into account.&#8221;&nbsp;
See Also: <a href="https://www.benzinga.com/news/24/05/38607615/russian-troops-enter-us-military-base-in-niger-amid-rising-tensions?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russian Troops Enter US Military Base In Niger Amid Rising Tensions</a>
During his visit, Xi is scheduled to meet with Macron and Ursula von der Leyen, the President of the European Commission, to discuss these pressing matters. The visit also presents an opportunity for France to address concerns related to its agricultural exports and the French cosmetic industry&#8217;s intellectual property rights in China.
&#8220;If the Chinese seek to deepen the relationship with European partners, it is really important that they hear our point of view and start taking it seriously,&#8221; a French diplomatic source told Reuters.
Why It Matters: Xi&#8217;s visit to France is part of a larger European tour, which also includes stops in Serbia and Hungary. This tour is seen as an attempt to strengthen economic ties with the EU, especially in light of the growing tensions between the U.S. and China. The EU has been aligning itself more closely with the U.S., as evidenced by recent warnings from U.S. officials about the potential consequences of aiding Russia&#8217;s military capacity.
Earlier in April, U.S. Treasury Secretary Janet Yellen warned Chinese banks and exporters against aiding Russia's military capacity, <a href="https://www.benzinga.com/news/24/04/38138081/janet-yellen-threatens-beijing-with-us-sanctions-standing-in-mainland-china-if-they-assist-russia-in">citing potential sanctions</a>. This warning came amid concerns over China's support for Russia during the ongoing conflict in Ukraine, a topic that Macron is expected to raise during Xi&#8217;s visit.
Xi&#8217;s visit to the EU also comes in the wake of warnings from China&#8217;s special envoy for climate change, Liu Zhenmin, that the U.S. and Europe&#8217;s attempts to curb China's dominance in green technologies could impede the global <a href="https://www.benzinga.com/news/24/05/38575142/xi-jinping-climate-change-envoy-warns-us-europe-that-their-efforts-could-stall-global-warming-fight">fight against climate change</a>. This issue, along with trade and geopolitical tensions, is likely to be on the agenda during Xi&#8217;s visit to France.
Read Next: <a href="https://www.benzinga.com/news/24/05/38632362/russian-troops-enter-us-military-base-in-niger-trumps-views-on-presidential-immunity-and-more-top-po?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Russian Troops Enter US Military Base In Niger, Trump&#8217;s Views On Presidential Immunity And More: Top Poli</a>
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Chinese President Xi Jinping Begins Two-Day State Visit To France Amid Escalating Trade Disputes And Ukraine Conflict

<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/23/01/30325643/is-tesla-elon-musks-private-company-masquerading-as-a-public-company-board-under-pr" rel="noreferrer noopener">Leo KoGuan</a>, one of the largest individual shareholders of&nbsp;Tesla Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), has publicly voiced his disapproval of CEO&nbsp;Elon Musk&#8216;s compensation package, in the wake of an investor vote currently being held by Tesla.
What Happened: KoGuan expressed his criticism on social media late on Sunday, following a Delaware judge&#8217;s decision in January to invalidate Musk&#8217;s 2018 compensation package, which was then worth $55.8 billion.&nbsp;
Tesla is now holding an investor vote to decide on Musk&#8217;s pay plan approval during its forthcoming Annual Shareholder Meeting.
Musk, who has sold nearly $39 billion worth of Tesla shares since the stock&#8217;s peak in 2021, still owns a 13.4% stake in the company. He is also seeking an additional 10%.&nbsp;
KoGuan, who has invested approximately $3.5 billion for a 0.8% stake in Tesla, termed Musk&#8217;s request for more voting control as a &#8220;robbery attempt.&#8221;
&#8220;Paid $3.5 billion for measly 0.8% of Tesla in the market. What is your skin in Tesla? Whereas the Magician is minus -$39 billion and already got 13.4% of Tesla,&#8221; he posted on X. &#8220;Robbery of ten thousand years! But he wanted 10% more. Brainless SUCKERS cluelessly are assisting this robbery attempt.&#8221;
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Paid $3.5 billion for measly 0.8% of Tesla in the market. What is your skin in Tesla? Whereas the Magician is minus -$39 billion and already got 13.4% of Tesla. Robbery of ten thousand years! But he wanted 10% more. Brainless SUCKERS cluelessly are assisting this robbery attempt. <a href="https://t.co/SxGfrbjtCY">https://t.co/SxGfrbjtCY</a>
&mdash; KoGuan Leo (@KoguanLeo) <a href="https://twitter.com/KoguanLeo/status/1786918504987496897?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
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See Also:&nbsp;<a target="_blank" href="https://www.benzinga.com/money/everything-you-need-to-know-about-tesla-stock" rel="noreferrer noopener">Everything You Need to Know About Tesla Stock</a>
KoGuan also took a jab at Musk for selling shares over the past few years and sarcastically labeled him a &#8220;magician.&#8221;&nbsp;
He referred to Musk&#8217;s supporters as &#8220;brainless suckers&#8221; and accused Tesla&#8217;s mission to accelerate the world&#8217;s transition to sustainable energy as a &#8220;ruse to suck in naive investors and engineers.&#8221; He urged shareholders to vote against the proposed package.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Don't be a sucker, just vote NO <a href="https://t.co/kBBV0ESfVO">https://t.co/kBBV0ESfVO</a>
&mdash; KoGuan Leo (@KoguanLeo) <a href="https://twitter.com/KoguanLeo/status/1786942715411972167?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
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Tesla&#8217;s Annual Shareholder Meeting is slated for June 13, and shareholders have until then to vote on the ratification of Musk&#8217;s 2018 pay plan.
Why It Matters: Musk in March&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/03/37474203/elon-musk-thanks-tesla-shareholders-after-they-write-to-delaware-court-against-voiding-his-56b-pay-p" rel="noreferrer noopener">thanked some shareholders</a>&nbsp;for writing to the Delaware Chancery Court, which voided his pay plan, calling it &#8220;unfathomable.&#8221;
Robyn Denholm, Tesla&#8217;s board chair, last week&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/05/38630179/teslas-board-chair-pleads-for-reapproval-of-elon-musks-controversial-47-billion-compensation-incredi" rel="noreferrer noopener">pleaded with shareholders</a>&nbsp;to reapprove Musk&#8217;s billion pay package, arguing that a single judge&#8217;s ruling should not override the collective will of Tesla&#8217;s millions of owners.
Many observers, however, have&nbsp;<a target="_blank" href="https://www.benzinga.com/markets/equities/24/05/38575395/is-musk-worth-160-of-teslas-total-profits-esg-expert-thinks-ceos-pay-package-is-lunacy-and-compl" rel="noreferrer noopener">questioned the rationale</a>&nbsp;behind the proposed compensation for Musk, with one going so far as to call it &#8220;lunacy and completely detached from reality.&#8221;&nbsp;&nbsp;
Last week, the S&amp;P lowered Tesla&#8217;s management and governance score due to Musk&#8217;s dominant role in the company. The rating agency suggested that Tesla increase board independence and nominate new independent directors to reduce key-person risk.
Read Next: <a href="https://www.benzinga.com/markets/equities/24/05/38633307/warren-buffett-comments-on-whether-elon-musks-fsd-will-impact-berkshires-auto-insurance-business" target="_blank" rel="noreferrer noopener">Warren Buffett Comments On Whether Elon Musk&#8217;s FSD Will Impact Berkshire&#8217;s Auto Insurance Business. Will Oracle Of Omaha Bet On Tesla?</a>
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Tesla Retail Shareholder Who Poured $3.5B Into EV Stock Screams Foul Over 'Magician' Elon Musk's Pay Package Plan, Urges Other Investors To Vote No: 'Don't Be A Sucker'

Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) is <a href="https://www.benzinga.com/news/24/03/38000809/new-ipad-pro-and-ipad-air-on-the-way-apples-longest-pause-on-new-models-might-end-in-may">set to launch</a> new&nbsp;iPads&nbsp;on Tuesday, and according to a prominent tech journalist, the tech giant should focus on transforming them into genuine laptop substitutes.
What Happened: In the latest installment of his weekly &#8220;Power On&#8221; newsletter, Bloomberg columnist Mark Gurman suggested that Apple should <a href="https://www.benzinga.com/news/24/02/37233468/apples-2024-ipad-lineup-to-feature-larger-ipad-air-thinner-ipad-pro-report">prioritize making the iPad</a> a true laptop replacement. He argued that Apple has been taking half-measures in this direction and needs to make a firm commitment.
&#8220;From a business standpoint, there's always been a fear that the iPad will cannibalize Mac sales if it gets too powerful. So what? Neither category is doing that hot right now,&#8221; Gurman said, adding, &#8220;Apple should just make the best iPad it can, while also making the best Mac it can. The days of purposely holding back the iPad need to end.&#8221;
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38574286/palantir-ceo-says-american-tech-industry-maximally-tolerant-of-any-personality-im-like-a-hyper-inexp?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir CEO Says American Tech Industry &#8216;Maximally Tolerant&#8217; Of Any Personality: &#8216;I&#8217;m Like A Hyper Inexplicably Dyslexic Outsider&#8217;</a>
According to Gurman, Apple has made some progress in this area, such as introducing the Magic Keyboard and trackpad. However, these changes were not enough to&nbsp;make the iPad feel like&nbsp;a laptop replacement. 
He also mentioned that Apple&#8217;s attempts to improve multitasking on the iPad, such as the Stage Manager feature, have been unsuccessful. Moreover, equipping the iPad with Mac-level chips was largely a marketing exercise, the columnist said. 
The tech analyst said Apple needs to clarify its vision for the iPad and make it&nbsp;as capable as a laptop,&nbsp;but in a form that tablet users prefer. He suggested that the&nbsp;Mac should be for consumers&nbsp;who prefer working on a traditional computer, while&nbsp;the iPad should be for&nbsp;people who want the option&nbsp;of a touch screen.
&#8220;Now it's time for Apple to take a stand. Does it want the iPad to be a half-baked laptop alternative or a real computing replacement,&#8221; he asked, and then stated, &#8220;Fixing the situation starts with making the high-end iPad range look more like their Mac counterparts. And that's just what Apple seems poised to do.&#8221;
Subscribe to the&nbsp;<a href="https://bztechtrends.beehiiv.com/subscribe" target="_blank" rel="noreferrer noopener">Benzinga Tech Trends newsletter</a>&nbsp;to get all the latest tech developments delivered to your inbox.
Why It Matters: Apple&#8217;s upcoming iPad launch follows a significant overhaul of its iPad lineup. On Tuesday, the company plans to announce the launch of new iPad Pro and iPad Air models, <a href="https://www.benzinga.com/news/24/04/38135554/apple-preps-biggest-ipad-overhaul-in-years-after-18-months-pause-with-new-pro-air-models">ending an 18-month drought</a>. 
The new models, including 11-inch and 12.9-inch OLED iPad Pro models with M4 chips, 11-inch and an enlarged 12.9-inch iPad Air with M2 chips, and updated Magic Keyboard and Apple Pencil accessories, are expected to be unveiled.
&#8220;It's also high time for Apple to give the iPad a more intuitive and useful multitasking experience. If the company can pull that off — combined with the new hardware and a focus on AI — Apple could once again make the iPad feel like the future,&#8221; according to Gurman. 
Check out more of&nbsp;Benzinga&#8217;s&nbsp;Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/news/24/05/38605055/apple-ceo-tim-cook-says-china-is-the-most-competitive-market-in-the-world-as-iphone-sales-take-a-hit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple CEO Tim Cook Says China Is &#8216;The Most Competitive Market In The World&#8217; As iPhone Sales Take A Hit</a>
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Apple Should Turn This Device Into Laptop Replacement, Says Mark Gurman: 'The Days Of Purposely Holding Back The iPad Need To End'

The American middle class is grappling with a financial crisis despite earning six-figure incomes, with inflation eroding their purchasing power and threatening their traditional way of life.
What Happened: Despite earning $130,000 annually as a 29-year-old medical sales representative, Vincent from Santa Barbara, California, struggles to save for a home or other middle-class milestones. This dilemma was highlighted in a recent <a href="https://www.businessinsider.in/policy/economy/news/inflation-is-scrambling-americans-perceptions-of-middle-class-life/articleshow/109861257.cms">report</a> by Business Insider.
&#8220;I was like, if I could make six figures, I&#8217;d have a nice life. I can save up the down payment on a home and start to begin my life,&#8221; said Vincent. 
Vincent belongs to an expanding demographic of middle-class Americans, as <a href="https://www.pewresearch.org/short-reads/2020/07/23/are-you-in-the-american-middle-class/">defined</a> by the Pew Research Center in 2022 as households earning between $48,500 and $145,500 annually. Many in this group, including Vincent, feel they cannot afford the traditional middle-class lifestyle, which includes owning a home and securing a comfortable retirement.
According to Eoin Sheehan, a senior research analyst at Redfield &amp; Wilton, inflation has caused many Americans to overlook the overall strength of the U.S. economy. 
While higher costs pose challenges to retiring or buying a home, those goals aren&#8217;t out of reach with careful planning, according to Chris Collins, a wealth advisor at Northwestern Mutual&#8217;s Collins Financial.
&#8220;I&#8217;m not telling people, &#8216;You are going to die broken and alone.&#8217; It&#8217;s, &#8216;Hey, with a little bit of work here, you&#8217;re going to be all right,'&#8221; Collins said. &#8220;They don&#8217;t feel like they can relax until somebody runs the financial plan, runs the modeling and says, &#8216;you&#8217;re going to be fine.'&#8221;
See Also: <a href="https://www.benzinga.com/news/24/05/38613581/uber-and-lyft-drivers-future-hangs-in-balance-as-massachusetts-supreme-court-deliberates?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Uber And Lyft Drivers&#8217; Future Hangs In Balance As Massachusetts Supreme Court Deliberates</a>
However, many middle-class Americans are feeling increasingly anxious about their financial situation. Financial anxiety has reached an all-time high, with inflation being the biggest obstacle to financial security for 51% of respondents in a survey by Northwestern Mutual.
According to a recent report by Zillow, with mortgage rates nearing a 23-year high and home prices at nearly record levels, Americans now require an income that is 80% higher than pre-pandemic levels to comfortably afford a home. Additionally, data from the National Association of Realtors <a href="https://cdn.nar.realtor/sites/default/files/documents/2023-profile-of-home-buyers-and-sellers-highlights-11-13-2023.pdfhttps://cdn.nar.realtor/sites/default/files/documents/2023-profile-of-home-buyers-and-sellers-highlights-11-13-2023.pdf">shows</a> that first-time homebuyers accounted for less than a third of all home purchases in 2023, marking one of the lowest shares on record.
Why It Matters: The struggles of the American middle class come at a time when the global economy is showing signs of resilience. The Organization for Economic Cooperation and Development <a href="https://www.benzinga.com/news/24/05/38575037/world-economy-seeks-to-avoid-stagflation-as-oecd-lifts-global-growth-forecast-for-2024">revised its 2024 growth forecast upwards</a>, indicating a potential escape from a stagflationary rut. The U.S., China, and India are among the countries contributing to this improved outlook.
However, concerns about stagflation persist. Renowned economist Peter Schiff has criticized Federal Reserve Chair Jerome Powell for <a href="https://www.benzinga.com/news/24/05/38571216/peter-schiff-blasts-jerome-powell-for-not-seeing-the-stag-in-stagflation-same-type-of-blindness-that">dismissing stagflation concerns</a>. Schiff compared this to previous Federal Reserve misstatements, such as underestimating the subprime crisis and inflation rates.
These concerns are further exacerbated by recent economic data, which suggests a potential slowdown in growth, consistent inflation, and labor costs. Bank of America strategist Michael Hartnett has warned that a <a href="https://www.benzinga.com/news/24/05/38611768/soft-us-jobs-data-could-trigger-stock-selloff-bofa-strategist-warns">disappointing jobs report could indicate stagflation</a>, thereby increasing the risk of a stock market selloff.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38624536/federal-reserve-dismisses-rate-hike-fears-labor-market-cools-apple-lures-investors-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Federal Reserve Dismisses Rate Hike Fears, Labor Market Cools, Apple Lures Investors With Record-Breaking</a>
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The Vanishing American Dream? Inflation Hits Even Six-Figure Earners And Threatens Middle-Class Stability: 'They Don't Feel Like They Can Relax...'

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Let's Spill The Tea: Top Consumer Tech News From Last Week That You Should Know (April 28-May 4, 2024)

NVIDIA Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) is set to release its first-quarter earnings, and the company is already making waves in the AI sector. The tech giant&#8217;s AI infrastructure is in high demand, as evidenced by the increased capital expenditures of its major clients.
What Happened: Mega-cap tech companies are making substantial investments in Nvidia&#8217;s AI technology. According to an <a href="https://www.businessinsider.in/tech/news/how-nvidia-is-dominating-an-ai-obsessed-earnings-season-without-even-reporting-yet/articleshow/109861713.cms">analysis</a> from Business Insider, Nvidia&#8217;s H100 GPU chip, priced at over $40,000, plays a crucial role in powering AI advancements like ChatGPT and Anthropic.
Notably, Elon Musk announced on Tesla&#8216;s earnings call that the company will double its H100 GPU chips by the end of the year. This expansion will further enhance Tesla&#8217;s Full Self-Driving software.
&#8220;We&#8217;ve installed and commissioned, meaning they&#8217;re actually working, 35,000 H100 computers or GPUs,&#8221; Musk said last month. &#8220;Roughly 35,000 H100s are active, and we expect that to be probably 85,000 or thereabouts by the end of this year.&#8221;
Meta Platforms has also increased its capex forecast for 2024, citing the buildout of its &#8220;infrastructure investments to support our AI roadmap.&#8221; The company has already purchased 850,000 H100 GPUs from Nvidia, with a retail value of approximately $30 billion.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38630402/teslas-dogecoin-adoption-sends-crypto-market-into-frenzy-meme-coin-surges-by-over-21?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Tesla&#8217;s Dogecoin Adoption Sends Crypto Market Into Frenzy, Meme Coin Surges By Over 21%</a>
Microsoft and Alphabet have similar plans, with Microsoft aiming to amass 1.8 million GPUs by the end of 2024, according to an internal document. Alphabet&#8217;s first-quarter CAPEX doubled from the prior year, driven primarily by investment in technical infrastructure.
Amazon didn&#8217;t provide specifics about its capital expenditure plans, but it did mention an anticipated increase in spending. &#8220;We anticipate our overall capital expenditures to meaningfully increase year-over-year in 2024, primarily driven by higher infrastructure capex to support growth in AWS, including generative AI,&#8221; said Amazon CFO Brian Olsavsky.
In total, Microsoft, Alphabet, Meta, and Amazon are projected to allocate $205 billion towards capital expenditures this year, marking a 40% rise from 2023 figures as reported by UBS. A significant portion of these funds is expected to be directed toward Nvidia for its H100 and Blackwell AI chips.
Recent earnings reports from Nvidia&#8217;s competitor, Advanced Micro Devices, Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMD#NASDAQ">AMD</a>), indicate that Nvidia is capturing the majority of this market share, outpacing its rivals. AMD projected that its MI300 AI chip would generate around $4 billion in revenue for 2024, significantly less than Nvidia&#8217;s anticipated revenue of over $100 billion this year.
In a similar vein, Intel Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) has introduced its Gaudi 3 AI chip as a competitor to Nvidia, but it forecasts sales of only $500 million for this year.
Investors will need to wait until after the market closes on May 22 to find out Nvidia&#8217;s actual earnings results.
Why It Matters: Despite the impending earnings report, Nvidia&#8217;s stock has been the subject of <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38617600/nvidia-stock-analysts-are-bullish-while-reddit-user-predicts-nvda-will-drop-to-800">contrasting opinions among analysts and Reddit users</a>. While analysts maintain a bullish stance, predicting a 31.50% potential upside, some Reddit users foresee a drop to $800.
Amid this, Nvidia has been <a href="https://www.benzinga.com/news/24/05/38583155/nvidia-supercharges-ai-chatbot-with-advanced-models-from-google-and-openai">enhancing its experimental ChatRTX chatbot</a> by adding more AI models for RTX GPU owners. This update includes Google&#8217;s Gemma, ChatGLM3, and OpenAI&#8217;s CLIP model, expanding the chatbot&#8217;s capabilities.
Furthermore, Nvidia&#8217;s supplier SK Hynix is <a href="https://www.benzinga.com/news/24/05/38573299/nvidia-supplier-sk-hynix-says-hbm-chipsets-crucial-for-ai-are-all-nearly-sold-out-for-2025-amid-boom">experiencing a surge in demand</a> for its high-bandwidth memory chips, crucial for AI chipsets. The company&#8217;s HBM chips are already sold out for 2024 and are nearly sold out for 2025, reflecting the booming demand for AI services.
Despite these positive developments, Nvidia&#8217;s stock has been on a <a href="https://www.benzinga.com/trading-ideas/24/05/38569426/nvidias-roller-coaster-ride-through-early-2024-sets-the-stage-for-a-potential-market-shakeup-as-inv">roller coaster ride through early 2024</a>, experiencing a 96% bull rally that halted at $974, leading to a 13% dip in value. The company is currently in a consolidation phase, with its stock price oscillating between $756 and $974.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38623527/bitcoin-ethereum-dogecoin-rally-as-market-sentiment-soars-on-macro-data-above-67-000-we-fl?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Bitcoin, Ethereum, Dogecoin Rally, As Market Sentiment Soars On Macro Data: &#8216;Above $67,000 We Fly Like A Bird,&#8217; Claims Trader</a>
Image Via Shutterstock
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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INTC

Nvidia's AI Dominance Evident As Tech Behemoths From Microsoft To Meta And Google Keep Pumping Billions Into Chipmaker, Analysis Reveals

In a surprising turn of events, Twitter co-founder Jack Dorsey has stepped down from the board of Bluesky, the <a href="https://www.benzinga.com/news/23/09/34892537/jack-dorsey-backed-bluesky-thrives-as-user-engagement-drops-on-musks-x-and-zuckerbergs-threads">decentralized social media platform</a> he backed. 
What Happened: Bluesky confirmed Dorsey&#8217;s departure in two posts on Sunday, expressing gratitude toward Dorsey and announcing its search for a new board member who shares its vision of a user-controlled social network.
<figure class="wp-block-image size-large"><img decoding="async" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/05/05214346/Screenshot-2024-05-06-at-7.13.37%E2%80%AFAM-1024x839.png" alt="" class="wp-image-323006" /></figure>
See Also:&nbsp;<a href="https://www.benzinga.com/news/24/05/38605346/dogecoin-co-creator-and-mkbhd-slam-siri-after-apples-q2-earnings-its-such-a-piece-of-garbage?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Co-Creator And MKBHD Slam &#8216;Siri&#8217; After Apple&#8217;s Q2 Earnings: &#8216;It&#8217;s Such A Piece Of Garbage&#8217;</a>
Bluesky&#8217;s announcement came a day after Dorsey, in response to a user&#8217;s query on X, formerly Twitter, replied &#8220;no&#8221; to being on the company&#8217;s board. TechCrunch <a href="https://techcrunch.com/2024/05/05/jack-dorsey-says-hes-no-longer-on-the-bluesky-board/">noted</a> this first and pointed out Dorsey&#8217;s recent activity on X, where he unfollowed all but three accounts and praised X, which was acquired by Elon Musk in 2022, as &#8220;freedom technology.&#8221;
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">don't depend on corporations to grant you rights. defend them yourself using freedom technology. (you're on one)
&mdash; jack (@jack) <a href="https://twitter.com/jack/status/1786773074232107424?ref_src=twsrc%5Etfw">May 4, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">&#x1f6ab; <a href="https://twitter.com/jack?ref_src=twsrc%5Etfw">@jack</a> has unfollowed well over 2000 people, so this bot won&#39;t send an alert for each. These are the 3 remaining accounts: <a href="https://twitter.com/Stella_Assange?ref_src=twsrc%5Etfw">@stella_assange</a>, <a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> and <a href="https://twitter.com/Snowden?ref_src=twsrc%5Etfw">@Snowden</a> <a href="https://t.co/N28DlDv4Qt">pic.twitter.com/N28DlDv4Qt</a>
&mdash; Big Tech Alert (@BigTechAlert) <a href="https://twitter.com/BigTechAlert/status/1786919454422516133?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
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Neither Bluesky nor Dorsey has disclosed the reasons for his departure. The current board members are CEO Jay Graeber and Jabber/XMPP inventor Jeremie Miller.
Dorsey initially supported Bluesky in 2019 as a project to create an open-source social media standard for Twitter. He joined the board when Bluesky separated from Twitter in 2022. However, Dorsey&#8217;s involvement with the company has been minimal. 
In March 2024, Graeber <a href="https://www.theverge.com/2024/3/25/24108872/bluesky-ceo-graber-federation-social-media-decoder-interview">stated</a> in an interview that Dorsey provided occasional feedback but was otherwise &#8220;being Jack Dorsey on a cloud.&#8221; 
Why It Matters: Dorsey&#8217;s departure from Bluesky comes amidst ongoing controversy surrounding his other venture, Block. Federal authorities are <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38579045/jack-dorseys-block-under-examination-from-authorities-over-alleged-sanctions-violations">investigating Block&#8217;s cryptocurrency</a> operations over alleged sanctions violations. These allegations have prompted a closer examination of the company&#8217;s compliance standards.
During Block&#8217;s first-quarter earnings call, <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38605350/bitcoin-transaction-investigation-by-doj-addressed-by-block-ceo-jack-dorsey-we-take-compli">Dorsey addressed the potential</a> Department of Justice investigation, stating that the company had proactively investigated potential threats in 2022, leading to a thorough review of transactions possibly linked to sanctioned countries.
&#8220;As it relates to preventing tariffs financing via Bitcoin, we have a robust control environment in place to mitigate exposure from adversaries,&#8221; he stated then. 
Check out more of Benzinga&#8217;s Consumer Tech coverage by <a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next: <a href="https://www.benzinga.com/news/24/05/38605055/apple-ceo-tim-cook-says-china-is-the-most-competitive-market-in-the-world-as-iphone-sales-take-a-hit?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Apple CEO Tim Cook Says China Is &#8216;The Most Competitive Market In The World&#8217; As iPhone Sales Take A Hit</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.

Social Media

Jack Dorsey Steps Down From Bluesky Board Amidst Controversy At Block, Refers To Elon Musk's X As 'Freedom Technology'

Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) has surged to $64,000, but a key metric indicates that it&#8217;s still in a &#8220;prime buy zone,&#8221; according to a prominent crypto analyst.
What Happened: Ali Martinez, a well-known crypto analyst, pointed out that despite Bitcoin&#8217;s recent price surge, the MVRV 90-day Ratio suggests that the cryptocurrency is still in a favorable buying position.
&#8220;Despite #Bitcoin&#8217;s recent surge from $57,000 to $64,000, the MVRV 90-Day Ratio indicates that $BTC remains in a prime buy zone!&#8221; Martinez wrote.
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<blockquote class="twitter-tweet" data-width="500" data-dnt="true">Despite <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a>&#39;s recent surge from $57,000 to $64,000, the MVRV 90-Day Ratio indicates that <a href="https://twitter.com/search?q=%24BTC&amp;src=ctag&amp;ref_src=twsrc%5Etfw">$BTC</a> remains in a prime buy zone! <a href="https://t.co/xbGUjCcXnJ">pic.twitter.com/xbGUjCcXnJ</a>
&mdash; Ali (@ali_charts) <a href="https://twitter.com/ali_charts/status/1787243113381052681?ref_src=twsrc%5Etfw">May 5, 2024</a></blockquote>
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></div>
</figure>
As per Martinez, the MVRV ratio, which divides an asset's market capitalization by its realized capitalization, is a crucial metric in the crypto space. A higher MVRV ratio typically indicates a greater potential profit, potentially leading to increased selling pressure.
See Also: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38611669/dogecoin-is-primed-for-higher-but-pepe-is-on-a-moon-mission-exclaims-trader?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Is &#8216;Primed For Higher&#8217; But Pepe Is &#8216;On A Moon Mission,&#8217; Exclaims Trader</a>
Why It Matters: This news comes in the wake of a series of significant events in the crypto space. On Saturday, Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) officially incorporated Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>) as <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38630402/teslas-dogecoin-adoption-sends-crypto-market-into-frenzy-meme-coin-surges-by-over-21">a payment option</a>, leading to a 21% surge in the meme coin&#8217;s value.
Moreover, on Sunday, in the wake of dismal U.S. economic data, crypto analyst Michaël van de Poppe forecasted a substantial rally in the altcoin markets. Van de Poppe believes that these economic indicators will compel the Federal Reserve to activate the money printers to <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38633082/crypto-analyst-foresees-altcoin-boom-amid-economic-downturn-altcoin-bull-market-has-starte">bolster the job market</a>, leading to a rally in risk-on assets.
Meanwhile, the SEC has postponed its decision on a <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38619431/sec-postpones-decision-on-7rcc-spot-bitcoin-and-carbon-credit-futures-etf">proposed exchange-traded fund</a> focused on carbon credit futures contracts and Bitcoin, indicating the regulatory uncertainty that still looms over the crypto market.
Price Action: Bitcoin is currently priced at $64,234, marking a 0.32% increase over the past 24 hours. Notably, its year-to-date performance shows a substantial 45.42% rise in value, according to the data <a href="https://pro.benzinga.com/dashboard">from Benzinga Pro</a>.
Read Next: <a href="https://www.benzinga.com/markets/cryptocurrency/24/05/38621862/dogecoin-killer-shiba-inu-burn-rate-spikes-800-amid-new-margin-pair-listing-on-kraken?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">&#8216;Dogecoin Killer&#8217; Shiba Inu Burn Rate Spikes 800% Amid New Margin Pair Listing On Kraken</a>
Image Via Pixabay
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Engineered by Benzinga Neuro, Edited by <a href="https://www.benzinga.com/topic/Kaustubh-Bagalkote" target="_blank" rel="noreferrer noopener">Kaustubh Bagalkote</a>
<hr class="wp-block-separator has-alpha-channel-opacity" />
The GPT-4-based Benzinga Neuro content generation system exploits the extensive Benzinga Ecosystem, including native data, APIs, and more to create comprehensive and timely stories for you. <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Learn more.</a>
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Coverage of Bitcoin, Etherum, Ripple and all the latest digital currencies.

Cryptocurrency

$BTC

$DOGE

Despite Bitcoin Hitting $64K, Analyst Says King Crypto Remains In 'Prime Buy Zone'

YouTube, an online video-sharing platform owned by Alphabet Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOG#NASDAQ">GOOG</a>) (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GOOGL#NASDAQ">GOOGL</a>) Google, rolled out a new feature, &#8220;Jump ahead,&#8221; for its Premium subscribers.
What Happened: Initially tested in March, the &#8220;Jump ahead&#8221; feature is now available to Premium subscribers through youtube.com/new.&nbsp;It is powered by artificial intelligence and allows users to skip to a video&#8217;s most commonly skipped section.
The pill-shaped &#8220;Jump ahead&#8221; button appears for a few&nbsp;seconds in the bottom-right corner&nbsp;before disappearing if the user only wants to skip ahead by 10 seconds,&nbsp;<a href="https://9to5google.com/2024/05/05/youtube-premium-jump-ahead/">reported</a>&nbsp;9to5Google.
See Also: <a href="https://www.benzinga.com/news/24/05/38605346/dogecoin-co-creator-and-mkbhd-slam-siri-after-apples-q2-earnings-its-such-a-piece-of-garbage?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Dogecoin Co-Creator And MKBHD Slam &#8216;Siri&#8217; After Apple&#8217;s Q2 Earnings: &#8216;It&#8217;s Such A Piece Of Garbage&#8217;</a>
Upon tapping, a &#8220;Jumping over commonly skipped section&#8221; overlay, badged by YouTube Premium, will appear. 
This feature is only available on&nbsp;the YouTube Android app in&nbsp;the U.S. for English videos with the common factor being a high number of views. It is not available on every video, and users must be YouTube Premium members to enable this experiment, which is set to end on June 1.
This feature is the latest addition to YouTube&#8217;s AI-powered capabilities, joining the &#8220;Ask&#8221; questions generated AI feature.
Why It Matters: This new feature is in line with the recent focus on AI by YouTube&#8217;s parent company. In April, a&nbsp;<a href="https://www.benzinga.com/news/24/04/38278168/googles-growth-ignited-by-ai-and-premium-video-ads-analyst-predicts-brighter-future">Stifel analyst predicted</a>&nbsp;a brighter future for Alphabet, citing the company&#8217;s growth through strength in mobile search, YouTube, and programmatic advertising, driven by AI capabilities. 
Alphabet&#8217;s focus on AI has also been reflected in its financial performance. In the first quarter of 2024,&nbsp;<a href="https://www.benzinga.com/news/earnings/24/04/38445001/alphabet-q1-earnings-revenue-beat-eps-beat-70b-buyback-first-ever-dividend-ai-leadership-and-more">Alphabet reported a 15% year-over-year increase</a>&nbsp;in revenue, attributing its growth to AI leadership among other factors. 
In the quarter, Google Search generated $46.156 billion in revenue, YouTube advertising brought in $8.09 billion, and Google Cloud&#8217;s revenue amounted to $9.574 billion.
Check out more of Benzinga&#8217;s Consumer Tech coverage by&nbsp;<a href="https://www.benzinga.com/topic/consumer-tech" target="_blank" rel="noreferrer noopener">following this link</a>.
Read Next:&nbsp;<a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/05/38624536/federal-reserve-dismisses-rate-hike-fears-labor-market-cools-apple-lures-investors-?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Federal Reserve Dismisses Rate Hike Fears, Labor Market Cools, Apple Lures Investors With Record-Breaking Buyback: This Week In The Market</a>
Disclaimer: This content was partially produced with the help of <a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a> and was reviewed and published by Benzinga editors.
Photo by Chubo &#8211; my masterpiece on Shutterstock

GOOGL

YouTube Premium Users Can Now Skip Commonly Skipped Sections With Google's AI-Powered 'Jump Ahead' Feature

These 15 large-cap stocks were the worst performers last week. Are they in your portfolio?
<ol>
<li>CVS Health Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVS#NYSE">CVS</a>) shares tumbled 18.2% after it reported first-quarter sales of $88.4 billion, missing the consensus of $89.21 billion, and adjusted EPS of $1.31 <a href="https://www.benzinga.com//node/38549660" target="_blank" rel="noreferrer noopener">missed the consensus of $1.69m and cut FY24 guidance</a>. Several analysts <a href="https://www.benzinga.com//node/38582839" target="_blank" rel="noreferrer noopener">trimmed the price target</a>.</li>
<li>Skyworks Solutions, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SWKS#NASDAQ">SWKS</a>) shares plummeted 16.8% after the company reported&nbsp;Q2&nbsp;financial results and issued&nbsp;Q3&nbsp;revenue&nbsp;guidance&nbsp;with&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38536220" rel="noreferrer noopener">the midpoint below estimates</a>. Several analysts cut the&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38549218" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>Starbucks Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SBUX#NASDAQ">SBUX</a>) shares decreased 15.2% following worse-than-expected earnings&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38534321" rel="noreferrer noopener">results for the&nbsp;second quarter of FY24</a>. Multiple analysts lowered price targets on the&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38549288" rel="noreferrer noopener">stock&nbsp;following the release</a>.</li>
<li>Super Micro Computer, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMCI#NASDAQ">SMCI</a>) shares are down 14.4% after the company posted mixed&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38555359" rel="noreferrer noopener">third-quarter&nbsp;financial results</a>. Few analysts cut and&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/SMCI/analyst-ratings" rel="noreferrer noopener">boosted the price target</a>.</li>
<li>Bruker Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BRKR#NASDAQ">BRKR</a>) shares decreased 13.8% after the company&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38577397" rel="noreferrer noopener">reported&nbsp;Q1&nbsp;revenue miss</a>.</li>
<li>Stellantis N.V.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/STLA#NYSE">STLA</a>) shares declined 13.5% after the company reported&nbsp;a&nbsp;12%&nbsp;decrease in first-quarter&nbsp;net revenues and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38515774" rel="noreferrer noopener">a&nbsp;10%&nbsp;reduction in consolidated shipments</a>.&nbsp;</li>
<li>DoorDash, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DASH#NASDAQ">DASH</a>) shares declined 13.5% after the company reported&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38565879" rel="noreferrer noopener">mixed&nbsp;Q1&nbsp;financial results</a>. Most analysts trimmed the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/dash/analyst-ratings" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>Centrais Electricas Brasileiras&nbsp;S.A.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EBR#NYSE">EBR</a>) shares were down 13.5%.</li>
<li>MicroStrategy Incorporated&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MSTR#NASDAQ">MSTR</a>) shares dived 12.7% after the company&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38503135" rel="noreferrer noopener">reported&nbsp;Q1&nbsp;financial results</a>.</li>
<li>GE&nbsp;HealthCare&nbsp;Technologies Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GEHC#NASDAQ">GEHC</a>) shares declined 12.5% after it reported&nbsp;first-quarter&nbsp;sales of&nbsp;$4.6 billion, which&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38525477" rel="noreferrer noopener">missed the&nbsp;consensus of&nbsp;$4.8 billion</a>. Some analysts&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/gehc/analyst-ratings" rel="noreferrer noopener">reduced the price target</a>.</li>
<li>The Carlyle Group Inc.&nbsp;(NASDAQ:&nbsp;CG) shares decreased 12.4% after the company reported&nbsp;Q1&nbsp;financial results.</li>
<li>Global Payments Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GPN#NYSE">GPN</a>) shares were down 11.3% after it reported&nbsp;Q1&nbsp;financial&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38558593" rel="noreferrer noopener">results and issued&nbsp;guidance</a>.</li>
<li>Banco Bilbao Vizcaya Argentaria S.A. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BBVA#NYSE">BBVA</a>) shares declined 11.3% after reporting first-quarter FY24 results. The company reportedly confirmed its intention to start talks with Sabadell on a potential merger.</li>
<li>CDW Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CDW#NASDAQ">CDW</a>) shares declined 11.2%&nbsp;after the company reported worse-than-<a target="_blank" href="https://www.benzinga.com//node/38559196" rel="noreferrer noopener">expected&nbsp;Q1&nbsp;financial results</a>. Analysts trimmed&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38559196" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>APA Corporation&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APA#NASDAQ">APA</a>) shares are down 10.8% after it reported worse-than-expected&nbsp;Q1&nbsp;earnings and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38564165" rel="noreferrer noopener">APA revised FY24&nbsp;guidance</a>.&nbsp;</li>
</ol>
Also Read: <a href="https://www.benzinga.com/markets/equities/24/05/38633878/which-large-cap-stocks-are-winning-this-earnings-season-15-stocks-to-watch-april-28-may-4-2024">Which Large Cap Stocks Are Winning This Earnings Season: 15 Stocks To Watch (April 28-May 4, 2024)</a>
Photo: Shutterstock

BBVA

BRKR

DASH

GEHC

MSTR

SBUX

SMCI

STLA

SWKS

Last Week's Worst-Performing Stocks: Are These 15 Large-Cap Stocks In Your Portfolio? (April 28-May 4, 2024)

These large-cap stocks were the best performers in the last week amid earnings season. Are they in your portfolio?
<ol>
<li>Carvana Co.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CVNA#NYSE">CVNA</a>) shares escalated 39.1% after it reported Q1 revenue of&nbsp;$3.061 billion, which beat the&nbsp;consensus&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38566697" rel="noreferrer noopener">estimate&nbsp;of&nbsp;$2.673 billion</a>. Several analysts&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38594906" rel="noreferrer noopener">raised their forecasts</a>.</li>
<li>NIO Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NIO#NYSE">NIO</a>) shares jumped 21.5% after the&nbsp;company's&nbsp;April&nbsp;vehicle deliveries increased&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38547416" rel="noreferrer noopener">134.6%&nbsp;year-over-year</a>.</li>
<li>Paramount Global&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PARAA#NASDAQ">PARAA</a>) shares surged 21.5% after it reported first-quarter&nbsp;revenue of&nbsp;$7.685 billion, which missed the&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38503655" rel="noreferrer noopener">consensus estimate of&nbsp;$7.732 billion</a>. The company said CEO&nbsp;Bob Bakish&nbsp;is stepping down from the studio. Paramount reportedly got a $26 billion acquisition offer from&nbsp;Sony Group Corporation&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38598651" rel="noreferrer noopener">Apollo Global Management, Inc.</a><a target="_blank" href="https://www.benzinga.com//node/38598651" rel="noreferrer noopener">&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/APO#NYSE">APO</a>)</a>.</li>
<li>Tenet Healthcare Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THC#NYSE">THC</a>) shares rose 20.0% after it reported first-quarter sales of $5.37 billion — beating the consensus of $5.15 billion — and also <a href="https://www.benzinga.com//node/38523582" target="_blank" rel="noreferrer noopener">raised the FY24 outlook</a>. Multiple firms raised their <a href="https://www.benzinga.com/quote/THC/analyst-ratings" target="_blank" rel="noreferrer noopener">respective price targets on the stock</a>.</li>
<li>Pinterest, Inc.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PINS#NYSE">PINS</a>) shares increased 19.9% after the company reported&nbsp;first-quarter&nbsp;revenue of&nbsp;$740 million, which beat the&nbsp;consensus estimate&nbsp;of&nbsp;$699.872 million and a loss per share of $0.04, which beat analyst estimates&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38534719" rel="noreferrer noopener">for a loss of $0.09 per share</a>. Several analysts raise&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38558198" rel="noreferrer noopener">forecasts&nbsp;on the stock</a>.</li>
<li>Bio-Techne Corp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TECH#NASDAQ">TECH</a>) increased 17.2% following upbeat Q3 quarterly results and the announcement of a distribution <a href="https://www.benzinga.com//node/38544446" target="_blank" rel="noreferrer noopener">agreement with Thermo Fisher Scientific</a>.</li>
<li>Howmet Aerospace Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HWM#NYSE">HWM</a>) shares were up 14.9%  after the company reported better-than-expected Q1 revenue of $1.82 billion, beating the consensus of $1.736 billion, and adjusted EPS stood at $0.57, <a href="https://www.benzinga.com//node/38591577" target="_blank" rel="noreferrer noopener">beating the consensus of $0.52</a>. Few analysts raised the <a href="https://www.benzinga.com/quote/HWM/analyst-ratings" target="_blank" rel="noreferrer noopener">price target on the stock</a>.</li>
<li>Garmin Ltd.&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GRMN#NYSE">GRMN</a>) shares grew 13.9% after it reported&nbsp;first-quarter&nbsp;FY24 revenue of&nbsp;$1.38 billion, beating the&nbsp;consensus of&nbsp;$1.25 billion and proforma EPS of&nbsp;$1.42&nbsp;beat&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38552073" rel="noreferrer noopener">the&nbsp;consensus of&nbsp;$1.01</a>.&nbsp;Some analysts raised&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/GRMN/analyst-ratings" rel="noreferrer noopener">the price target on the stock</a>.</li>
<li>Moderna, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MRNA#NASDAQ">MRNA</a>) shares are up 12.5% after it reported sales of $167 million, beating the consensus of $97.5 million, and reported <a href="https://www.benzinga.com//node/38592653" target="_blank" rel="noreferrer noopener">smaller-than-expected Q1 losses</a>.</li>
<li>Snap Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) shares are up 12.5%. The company reported better-than-expected <a href="https://www.benzinga.com//node/38498046" target="_blank" rel="noreferrer noopener">first-quarter results last Thursday</a>. </li>
<li>Woodward, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WWD#NASDAQ">WWD</a>) shares increased 11.2% after&nbsp;the company reported&nbsp;better-than-expected&nbsp;Q2&nbsp;financial results and&nbsp;<a target="_blank" href="https://www.benzinga.com//node/38502107" rel="noreferrer noopener">raised&nbsp;FY24 guidance</a>.</li>
<li>KE Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BEKE#NYSE">BEKE</a>) shares are up 9.7%.</li>
<li>JD.Com, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JD#NASDAQ">JD</a>) shares grew 9.2%.</li>
<li>Amcor Plc&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AMCR#NYSE">AMCR</a>) shares gained 9.1%.</li>
<li>Mobileye Global Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBLY#NASDAQ">MBLY</a>) shares rose 8.9%.</li>
</ol>
See Also: <a href="https://www.benzinga.com/24/05/38633879/last-weeks-worst-performing-stocks-are-these-15-large-cap-stocks-in-your-portfolio-april-28-may-4-20">Last Week&#8217;s Worst-Performing Stocks: Are These 15 Large-Cap Stocks In Your Portfolio? (April 28-May 4, 2024)</a>
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Which Large-Cap Stocks Are Winning This Earnings Season? 15 Stocks To Watch (April 28-May 4, 2024)

<a href="https://cts.businesswire.com/ct/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.perficient.com&amp;esheet=53973126&amp;newsitemid=20240505881094&amp;lan=en-US&amp;anchor=Perficient%2C+Inc.&amp;index=1&amp;md5=ea677365218888277c94426c9dcaf463">Perficient, Inc.</a>&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PRFT#NASDAQ">PRFT</a>) (&quot;Perficient&quot; or &quot;the Company&quot;), a leading global digital consultancy transforming the world&#39;s largest enterprises and biggest brands, today announced that it has entered into a definitive agreement to be acquired by an affiliate of BPEA Private Equity Fund VIII (&quot;EQT Asia&quot;), part of EQT AB, a purpose-driven global investment organization, in an all-cash transaction that values Perficient at an enterprise value of approximately&nbsp;$3.0 billion.&nbsp;Under the terms of the agreement, Perficient stockholders will receive&nbsp;$76.00&nbsp;per share in cash for each share of common stock owned as of the closing of the transaction. The purchase price represents a&nbsp;75%&nbsp;premium to Perficient&#39;s closing stock price on April 29, 2024, the last unaffected trading day prior to the transaction announcement, and a&nbsp;51%&nbsp;premium to the Company&#39;s 30-day volume-weighted average share price for the period ending April 29, 2024.

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Press Releases

Annexon Outlines 2024 Priorities with Late-Stage Clinical Milestones Across Upstream Complement Portfolio for Autoimmune, Ophthalmic and Neurodegenerative Diseases