1399 Internet Tech Stock (OTC:YSGG), Trade Ideas

1399 Internet Technology Application Group Inc is a shell company.

399 INTERNET TECH APP GRP by 1399 INTERNET TECHNOLOGY APPLICATION GROUP INC.

1399 Internet Technology Application Group Inc

WIIM

Textron shares are trading lower after the company reported worse-than-expected Q1 financial results.

Leerink Partners analyst Mani Foroohar downgrades CureVac (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CVAC#NASDAQ">CVAC</a>) from Outperform to Market Perform and lowers the price target from $12 to $4.

News

Downgrades

Price Target

Analyst Ratings

CVAC

Leerink Partners Downgrades CureVac to Market Perform, Lowers Price Target to $4

Union Pacific shares are trading higher after the company reported better-than-expected Q1 results.

Buybacks

TMUS

T-Mobile  Continues To Expect To Complete Its Remaining Authorization For Share Repurchases And Dividends In 2024

Chemed shares are trading lower after the company reported worse-than-expected Q1 financial results.

Contracts

Diana Shipping Entered Into Time Charger Contract With Bulk Trading SA For m/v DSI Phoenix; Gross Charter Rate IS $16,500/Day Minus 5% Commission To Third Parties For Period Until Minimum Aug. 1, 2025 To Maximum Sept. 30, 2025

Wedbush analyst Matt Bryson reiterates Diebold Nixdorf (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DBD#NYSE">DBD</a>) with a Neutral and maintains $40 price target.

Reiteration

Wedbush Reiterates Neutral on Diebold Nixdorf, Maintains $40 Price Target

Wedbush analyst Seth Basham reiterates Sleep Number (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNBR#NASDAQ">SNBR</a>) with a Neutral and maintains $13.5 price target.

SNBR

Wedbush Reiterates Neutral on Sleep Number, Maintains $13.5 Price Target

Impinj, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PI#NASDAQ">PI</a>) reported better-than-expected first-quarter <a href="https://www.benzinga.com/quote/PI/earnings">financial results on Wednesday</a>.
Impinj posted adjusted earnings of 21 cents per share, beating market estimates of 11 cents per share. The company's quarterly sales came in at $76.83 million versus expectations of $73.57 million, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
&#8220;2024 started strong, with revenue and profitability exceeding both our fourth-quarter results and first-quarter guidance,&#8221; said Chris Diorio, Impinj co-founder and CEO. &#8220;As we continue driving our bold vision to connect every item in our everyday world, I remain confident in our market position and energized by the opportunities ahead.&#8221;
Impinj said it sees second-quarter non-GAAP EPS of 72 cents to 77 cents and revenue of $96 million to $99 million.
Impinj shares fell 2.2% to close at $120.91 on Wednesday.
These analysts made changes to their price targets on Impinj following earnings announcement.
<ul>
<li>Needham boosted the price target on Impinj from $130 to $160. Needham analyst James Ricchiuti maintained a Buy rating.</li>
<li>Piper Sandler boosted the price target on Impinj from $130 to $150. Piper Sandler analyst Harsh Kumar reiterated an Overweight rating.</li>
</ul>
Now Check This Out: <a href="https://www.benzinga.com/24/04/38429015/jim-cramer-youre-dice-rolling-with-this-biopharma-stock-but-vista-energy-is-a-good-situation">Jim Cramer: You&#8217;re &#8216;Dice Rolling&#8217; With This Biopharma Stock, But Vista Energy Is &#8216;A Good Situation&#8217;</a>

Earnings

Markets

Trading Ideas

Impinj Analysts Boost Their Forecasts After Q1 Results

Cullen/Frost Bankers (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CFR#NYSE">CFR</a>) reported quarterly earnings of $2.15 per share which beat the analyst consensus estimate of $2.12 by 1.42 percent. This is a 20.37 percent decrease over earnings of $2.70 per share from the same period last year. The company reported quarterly sales of $501.428 million which missed the analyst consensus estimate of $515.992 million by 2.82 percent. This is a 0.72 percent decrease over sales of $505.085 million the same period last year.

Earnings Beats

Earnings Misses

Cullen/Frost Bankers Q1 2024 Adj EPS $2.15 Beats $2.12 Estimate, Sales $501.428M Miss $515.992M Estimate

Investments in Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) have yielded substantial returns for retail investors.
What Happened: Retail investors have seen their investments in Nvidia grow exponentially, Business Insider <a href="https://markets.businessinsider.com/news/stocks/nvidia-stock-retail-investors-gains-generational-wealth-ai-chips-gpus-2024-4">reported</a> based on the review of brokerage and account statements. 
Tom, an Nvidia investor from New Jersey, states that he made an initial investment in the tech giant worth $62,000 in 2011 and 2022. His investments have now ballooned to a $3 million stake. He attributes his success to diligent research and good timing, recognizing Nvidia&#8217;s pivotal role in the development of GPUs.
Nvidia&#8217;s transition from a gaming giant to an AI leader, especially during the early days of the pandemic, has been a significant driver of its stock&#8217;s growth. The company&#8217;s GPUs have become crucial for powering AI programs such as OpenAI&#8217;s ChatGPT, which was launched in November 2022.
See Also: <a href="https://www.benzinga.com/news/24/04/38392548/ups-earnings-show-the-weight-of-170-000-salaries-while-it-learns-to-navigate-shipping-slump?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">UPS Earnings Show The Weight Of $170,000 Salaries While It Learns To Navigate Shipping Slump</a>
According to Vanda Research, Nvidia has now overtaken Apple Inc., Tesla Inc., and SPY, the most popular S&amp;P 500 exchange-traded fund, to become the top stock among retail investors.
Other investors, like Danial and Rick, who started investing in Nvidia in 2016 and 2009 respectively, have also seen substantial returns on their investments, despite occasional market downturns.
Why It Matters: In April, Nvidia <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38346847/nvidia-in-correction-territory-did-ai-led-tech-stock-bubble-just-burst-this-data-po">experienced a market sell-off</a> led by high-profile tech stocks, which had been the rally leaders since 2023. Despite the sell-off, CNBC&#8217;s Jim Cramer highlighted Nvidia&#8217;s positive performance and its <a href="https://www.benzinga.com/markets/equities/24/04/38368953/jim-cramer-sees-nvidia-as-going-from-star-of-the-show-to-being-the-goat-of-the-game">4% rise following a 10% drop</a>.
Nvidia&#8217;s powerful chips have attracted <a href="https://www.benzinga.com/news/24/04/38402981/elon-musks-big-bet-tesla-to-ramp-up-ai-development-with-nvidias-powerful-chips">significant customers like Tesla Inc.</a> and <a href="https://www.benzinga.com/news/24/04/38400945/metas-massive-1b-bet-on-nvidia-h100-gpu-cluster-will-dwarf-every-other-companys-target-but-zuckerber">Meta Platforms Inc.</a>, further bolstering its position in the AI sector. 
Read Next: <a href="https://www.benzinga.com/insights/options/24/04/38361488/palantir-technologies-unusual-options-activity-for-april-22?itm_source=parsely-api" target="_blank" rel="noreferrer noopener">Palantir Technologies Unusual Options Activity For April 22</a>
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Equities

General

AAPL

NVDA

TSLA

Nvidia Investments Shower Retail Investors With Massive Returns Despite Few Cloudy Days: Report

Honeywell shares are trading higher after the company reported better-than-expected Q1 financial results.

Leerink Partners analyst Mike Kratky upgrades Tandem Diabetes Care (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TNDM#NASDAQ">TNDM</a>) from Market Perform to Outperform and raises the price target from $34 to $45.

Upgrades

TNDM

Leerink Partners Upgrades Tandem Diabetes Care to Outperform, Raises Price Target to $45

On Wednesday,&nbsp;Nvidia Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) announced its acquisition of Run:ai, an Israeli startup specializing in software that simplifies the management of complex AI workloads and computing resources on a single&nbsp;<a target="_blank" href="https://blogs.nvidia.com/blog/runai/" rel="noreferrer noopener">platform</a>.
Reports indicate a valuation between $600 million &#8211; $700 million. The acquisition marks Nvidia&#8217;s most significant in Israel since its $6.9 billion purchase of Mellanox Technologies Ltd. in 2020, the Times of Israel&nbsp;<a target="_blank" href="https://www.timesofisrael.com/us-chip-giant-nvidia-snaps-up-israeli-ai-workload-management-startup/" rel="noreferrer noopener">reports</a>.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38388117/whats-going-on-with-nvidia-and-amd-stocks-on-tuesday" rel="noreferrer noopener">AMD and Nvidia Recover Losses as AI Market Expansion and New Products Drive Growth</a>
Run: ai&#8217;s team will integrate into Nvidia&#8217;s expansive operations in Israel, which currently employs around 4,000 people across seven R&amp;D centers, including Mellanox&#8217;s headquarters in Yokne&#8217;am, and locations in Tel Aviv, Jerusalem, Ra&#8217;anana, and Beersheba.
Founded in 2018 in Tel Aviv by CEO Omri Geller and CTO Ronen Dar, both postgraduate students under Professor Meir Feder at Tel Aviv University, Run:ai aimed to create a foundational layer for managing any AI workload.&nbsp;
To date, Run:ai&nbsp;has secured $118 million in funding from several investors. Geller noted that Run:ai&nbsp;had already collaborated with Nvidia since 2020.
In a blog post, Alexis Bjorlin, Nvidia&#8217;s VP of DGX Cloud, stated that the acquisition aims to help customers better utilize their AI computing resources.&nbsp;
Bjorlin also mentioned that Nvidia plans to continue selling Run: ai&#8217;s products under the existing business model and invest in the startup&#8217;s product roadmap.
Since establishing its first operations in Israel in 2016 and opening an AI research center in 2018, Nvidia has expanded significantly. The company&#8217;s R&amp;D operations in Israel are now its most significant outside of the U.S.&nbsp;
In March 2022, Nvidia acquired another Israeli company, Excelero, which specializes in enterprise data storage and block storage solutions, for an undisclosed amount.
In May of the previous year, Nvidia revealed that it is developing and building Israel-1, the nation&#8217;s most potent generative AI cloud supercomputer.
Nvidia held $25.98 billion in cash and equivalents as of&nbsp;<a target="_blank" href="https://investor.nvidia.com/news/press-release-details/2024/NVIDIA-Announces-Financial-Results-for-Fourth-Quarter-and-Fiscal-2024/" rel="noreferrer noopener">January 28, 2024</a>.
Thanks to the AI frenzy, Nvidia stock&nbsp;gained 204% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;VanEck Semiconductor&nbsp;ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SMH#NASDAQ">SMH</a>) and&nbsp;Global X&nbsp;Robotics &amp; Artificial Intelligence ETF&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BOTZ#NASDAQ">BOTZ</a>).
Price Actions:&nbsp;NVDA shares traded lower by 1.84% at $781.59 premarket at&nbsp;the last check on Thursday.
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/news/24/04/38429949/taiwan-semi-sets-2026-launch-for-a16-chip-technology-aiming-to-outpace-intel-in-speed" rel="noreferrer noopener">Taiwan Semi Sets 2026 Launch for A16 Chip Technology, Aiming to Outpace Intel in Speed</a>
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Photo via Shutterstock

Government

Regulations

Tech

Media

BOTZ

Nvidia Bolsters AI Management Capabilities, Purchases Israeli Firm Run:ai for Roughly $700M

Piper Sandler analyst Luke Lemoine maintains Weatherford International (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WFRD#NASDAQ">WFRD</a>) with a Overweight and raises the price target from $180 to $184.

WFRD

Piper Sandler Maintains Overweight on Weatherford International, Raises Price Target to $184

T-Mobile's scalable broadband and wireless growth engine combined with EQT's infrastructure expertise will leverage Lumos' fiber platform to deliver broadband services to more Americans

T-Mobile And EQT Announce Joint Venture To Acquire Lumos; T-Mobile Expected To Invest $950M In JV To Acquire 50% Stake And All Existing Fiber Customers; Next Capital Contribution By T-Mobile Out Of Additional Commitment Of ~$500M Anticipated Between 2027-2028

CMCSA

Comcast shares are trading lower following Q1 earnings.

<a href="https://www.globenewswire.com/Tracker?data=d-EZTiuacey9Mg8uAbOVrQ2D5W1ZbPyy47VDaDnv8GABtVzadi-hnwV6Rq2_pOEM7NDDTUvi_14P5fuktECILegFZUG-OMMelEn19X8G-PE=">Quantum&#xAE; Corporation</a> (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QMCO#NASDAQ">QMCO</a>), a leading provider of data management solutions for the US Federal Government and Public Sector, and <a href="https://www.globenewswire.com/Tracker?data=NGHmH_P-ChdI7H6-1kWGArcJH5h18hOE4aBXdLVpWfsa_A5FRNPOAp0yrxOkAf1lJZx5mR8nR98ehfOBznQ1drZt1mR2RTSoppe-H1lfbzw=">Carahsoft Technology Corp</a>., The Trusted Government IT Solutions Provider&#xAE;, today announced a partnership. Under the distribution agreement, Carahsoft will serve as a Federal Distributor for Quantum, making the company's cutting-edge end-to-end data solutions available to the Public Sector through Carahsoft's reseller partners and GSA Schedule, NASA Solutions for Enterprise-Wide Procurement (SEWP) V, Information Technology Enterprise Solutions – Software 2 (ITES-SW2), National Association of State Procurement Officials (NASPO) ValuePoint, OMNIA Partners, E&amp;I Cooperative Services Contract and The Quilt contracts. &nbsp;
"We are pleased to partner with Carahsoft and eager to leverage its reseller ecosystem, extensive market reach and established Government expertise to ensure agencies have easy access to our portfolio," said Thomas Hawkes, Vice President of Sales, Americas, Quantum. "We understand the critical role data plays in Government operations and our solutions are designed to support a variety of critical use cases, ranging from geospatial capture and analysis to data forensics and digital data storage. This partnership amplifies our ability to equip Public Sector organizations with the tools and technologies necessary to navigate the complexities of today's data landscape."
Quantum's comprehensive suite of products are designed to meet the Government's unique needs in today's data-intensive landscape. With a focus on scalability, performance and reliability, Quantum's storage solutions empower agencies to efficiently store, manage, retrieve and analyze vast amounts of data, ensuring they stay ahead in a rapidly advancing digital world. Its holistic approach to data lifecycle management includes high-performance flash storage, advanced data protection and archive solutions, creating a diverse portfolio that caters to a variety of Public Sector organizations with tailored solutions that optimize workflows and elevate operational efficiency.
Quantum's AI-driven data platform is built to address user needs at every stage of the data lifecycle, from storage and protection to analysis and enrichment of unstructured data. The platform's advanced AI capabilities enable agencies to efficiently search, tag, catalog and analyze large data sets, helping them discover mission-critical information hidden within data. Public Sector organizations can leverage Quantum's solutions to support better decision-making processes, inform policy choices, enhance national security measures and improve constituent experiences.
"In this unprecedented era of increased unstructured data growth, Quantum's cutting-edge data management solutions enable the Public Sector to keep pace with evolving demands for data storage, protection and analyzation tools that meet the unique needs of Government agencies," said Erin Foor, Sales Director who leads the Quantum Team at Carahsoft. "Carahsoft is excited to partner with Quantum, and we look forward to collaborating with our reseller partners to provide the Public Sector with access to Quantum's holistic portfolio of data-management solutions."
Quantum's software, hardware and services are available through Carahsoft's GSA Schedule No. 47QSWA18D008F, SEWP V contracts NNG15SC03B and NNG15SC27B, ITES-SW2 Contract W52P1J-20-D-0042, NASPO ValuePoint Master Agreement #AR2472, OMNIA Partners Contract #R191902, E&amp;I Contract #EI00063~2021MA and The Quilt Master Service Agreement Number MSA05012019-F. For more information, contact the Carahsoft Team at (571) 591-6220 or <a href="https://www.globenewswire.com/Tracker?data=d-EZTiuacey9Mg8uAbOVrVlT2M1vYYHIRF2fZGeCx_PS-XPfnXXuUfqeH60sSdhaSgsoVJZLzvfz1t_WkaTKDtb0DHuWmdSqc699a1Tvxuo=">Quantum@carahsoft.com</a>; or <a href="https://www.globenewswire.com/Tracker?data=3PipCfFo8siDFORUng_nM1qfqV7cdSO4ma91sXVbpCp8EyltkO_T-k6eIalkWdpbrY4HnHr2t1sp8n9UB2gGHyXJYN9TFFdBwL0yVaQzrxo=">view</a> this on-demand webinar co-hosted by Quantum. The webinar, "Quantum Knows Data - Get to Know Quantum," discusses exciting updates on Quantum's solution set as well as its partner program, <a href="https://www.globenewswire.com/Tracker?data=d-EZTiuacey9Mg8uAbOVrSEUk18uKJBK9mTJxNUPPnWedlvuFwvUuUmdSFAO5yVz8Xiwj9B2m2yhKlMvP8OgY4moMx-qNrRJ8Pm7yWxKhBH3qyGlqFgBDUh5pTdt_XDB">Quantum Alliance</a>.

QMCO

Quantum And Carahsoft Partner To Supply The Public Sector With End-To-End Data Solutions

Tesla Inc. supplier Contemporary Amperex Technology Co. Ltd. (CATL), the world&#8217;s largest electric vehicle battery manufacturer, has unveiled a new battery that can significantly enhance the driving range of electric vehicles (EVs).
What Happened: CATL, at the Auto China show in Beijing, introduced the Shenxing Plus battery pack, which can power a car for up to 600 kilometers (370 miles) on a 10-minute charge, <a href="https://www.bloomberg.com/news/articles/2024-04-25/battery-giant-catl-s-newest-pack-can-power-cars-even-further">reported</a> Bloomberg on Tuesday. The lithium-iron-phosphate battery can provide a range of 1,000 kilometers or over 620 miles on a full charge. Even the Lucid Air sedan, among the highest-range EVs in the market, offers a maximum range of only 516 miles.
This new battery is an upgrade from the Shenxing, which was launched in August. The earlier version could power a vehicle for 400 kilometers from a 10-minute charge or up to 700 kilometers on a full charge. The Shenxing battery is currently used in 50 EV models, including one Xiaomi SU7 variant, the report noted.
Why It Matters: The release of the Shenxing Plus battery is a significant development in the EV industry. It addresses two major concerns that have been <a href="https://www.benzinga.com/general/travel/24/04/38403073/evs-are-great-for-the-environment-and-your-pocket-in-the-long-run-but-here-are-5-surprising-benefi">hindering the widespread adoption of EVs:</a> range anxiety and lack of charging infrastructure. This innovation could potentially accelerate the transition to electric vehicles, especially in China, which is the world&#8217;s largest EV market.
Check out more of Benzinga's Future Of Mobility coverage by&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/mobility" rel="noreferrer noopener">following this link</a>.
Read More:&nbsp;<a href="https://www.benzinga.com/news/24/04/38423295/ford-cfo-says-ev-price-cuts-bringing-down-revenue-faster-than-company-can-cut-costs-if-the-pricing-s">Ford CFO Says EV Price Cuts Bringing Down Revenue Faster Than Company Can Cut Costs; ‘If The Pricing Stabilizes…'</a>
Disclaimer: This content was partially produced with the help of&nbsp;<a href="https://www.benzinga.com/author/benzinga-neuro" target="_blank" rel="noreferrer noopener">Benzinga Neuro</a>&nbsp;and was reviewed and published by Benzinga editors.
CATL Photo by monticello on Shutterstock