Happy Thursday Zingernation! NVIDIA is not the only blue-chip asset setting records. The “silver” cryptocurrency Ethereum is also nearing all-time highs, driven by the SEC’s just-announced decision to approve spot ETH ETFs.

–Aaron Bry & Nic Chahine

Today’s Price Action:

$SPY: -.73%
$QQQ: -.44%
$DIA: -1.51%

Plus, click here to learn more about Elon Musk’s new AI device that could reshape the industry.

Also, want access to unparalleled news and data at your fingertips? Win more trades with Benzinga Pro, for 50% off during our Memorial Day sale.

TODAY’S MOST VOLATILE STOCKS

TODAY’S TOP STORY

Boeing Stock Falls On Forecasts Of Negative Cash Flow, Delivery Delays

Briefly: Boeing shares traded down more than 6% today following CFO Brian West’s announcement that the company will burn cash in 2024 rather than generate it.

So Basically: Speaking at a conference today, West revealed that he expects Boeing’s full-year free cash flow to be negative, possibly to the tune of $4 billion next quarter alone.

So Then: This marked a stark contrast to the outlook provided in March for positive cash generation in the low single-digit billions.

So What: The announcement surprised investors and further complicated Boeing’s situation as it struggles with quality concerns, production challenges and delayed deliveries to China, which West added will impact Q2 cash flow.

Click here to read more.

PRESENTED BY INVESTORPLACE

Elon’s New AI Device is About to Shock the World

Dear Reader, see the picture above? That’s Elon Musk’s new AI device…

And according to 30-year Silicon Valley and Wall Street veteran Eric Fry – A man who picked 41 plays that jumped 1,000%+ – It could be bigger than the iPhone. 

In fact, soon you could be wearing a device like this...

Click here to see the details because Eric believes a lot of people will get wealthy from this new invention.

FIVE MOVERS

Dell shares closed higher today by nearly 4% as investors appeared to take bullish positions on the legacy computer play ahead of earnings.

NVIDIA shares moved higher today, closing up almost 9% on continued bullish action following the company’s earnings report yesterday.

TurboTax-owner Intuit shares took a hit after the close after the tax-software provider reported weaker-than-expected guidance.

Salesforce shares closed down today after analysts at two separate firms lowered their price targets for the stock.

Alibaba stock moved lower on reports the Chinese company is considering a convertible bond offering.

ONE TRADE IDEA FOR TOMORROW

Pfizer's Path To Profit

Briefly: Pfizer recently launched a multi-year cost reduction initiative aimed at saving approximately $1.5 billion by the end of 2027.

So Basically: The pharma giant’s new program builds on a $4 billion cost reduction plan announced last year.

So Then: The move came as the pharmaceutical giant faces declining investor interest and diminishing sales from its COVID-19 vaccine and treatments.

So What: The initiative aims to enhance operational efficiencies, restructure its network and improve its product portfolio.

What Next: The program will incur one-time charges of $1.7 billion, mainly for severance and implementation costs. No job cuts have been announced yet, but most charges are expected this year, with actual cash outlays anticipated in 2025 and 2026.

Click here for the full story.