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RTX

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RTX Corporation's subsidiary, Pratt & Whitney, has identified a rare condition in the powder metal used to manufacture certain engine parts, necessitating accelerated fleet inspection. This has led to airlines in the U.S., Europe, and Asia temporarily cutting off some flights and routes. RTX has reduced its free cash flow forecast due to the potential multibillion-dollar impact. Airbus SE and Spirit Airlines are among the affected companies, with 137 engines needing inspection and several jets being pulled from service respectively.

Portfolio Pulse from Akanksha Bakshi

August 07, 2023 | 2:20 pm

SNOW

Unusual options activity has been observed for Snowflake (NYSE:SNOW), with a large position indicating a bullish stance. The overall sentiment of these big-money traders is split between 50% bullish and 50% bearish. The whales have been targeting a price range from $150.0 to $200.0 for Snowflake over the last 3 months. Several experts have upgraded their ratings on Snowflake, with price targets ranging from $173 to $220.

Portfolio Pulse from Benzinga Insights

August 07, 2023 | 2:16 pm

APRN

CELC

GETY

GREE

HCTI

JOAN

MDVL

TUP

UPH

YELL

Potential short squeeze plays have gained popularity among traders in 2021 and 2022. High short interest and steep borrowing costs are common traits that could lead to a short squeeze. MedAvail Holdings, Healthcare Triangle Inc, Yellow Corporation, Greenidge Generation Holdings, and Blue Apron Holdings Inc are the top five short squeeze candidates this week. Other stocks to watch include Getty Images Holdings, JOANN Inc, Celcuity Inc, UpHealth Inc, and Tupperware Brands Corporation.

Portfolio Pulse from Chris Katje

August 07, 2023 | 2:15 pm

ADAUSD

BTCUSD

ETHUSD

SOLUSD

Digital asset investment products saw a downturn this week, with outflows reaching $107 million, indicating an accelerated pace of profit-taking. Bitcoin (CRYPTO: BTC) experienced its most significant weekly outflows since March, amounting to $111 million. Ethereum (CRYPTO: ETH) also recorded outflows of $6 million. However, altcoins like Solana (CRYPTO: SOL), Ripple (CRYPTO: XRP), and Litecoin (CRYPTO: LTC) saw inflows, with Solana leading with $9.5 million. Uniswap (CRYPTO: UNI) and Cardano (CRYPTO: ADA) experienced outflows.

Portfolio Pulse from Murtuza Merchant

August 07, 2023 | 2:12 pm

TSLA

Tesla Inc (NASDAQ:TSLA) shares are trading lower after the company announced a CFO transition. Zachary Kirkhorn, who served as CFO for the last four years, stepped down from his role. Vaibhav Taneja, Tesla's chief accounting officer since March 2019, has been appointed as the new CFO. Kirkhorn will continue to serve Tesla through the end of the year to support a smooth transition.

Portfolio Pulse from Adam Eckert

August 07, 2023 | 2:08 pm

BTCUSD

ETHUSD

USDCUSD

USDTUSD

The Singapore Red Cross has started accepting cryptocurrency donations, including Bitcoin, Ether, Tether, and USD Coin. The charity has partnered with Triple-A, a cryptocurrency payment gateway, to facilitate these donations. The donations will be converted into traditional currency and transferred to the organization's bank account within a day.

Portfolio Pulse from Murtuza Merchant

August 07, 2023 | 2:03 pm

AVGO

A significant bullish stance on Broadcom (NASDAQ:AVGO) has been observed through unusual options activity. The sentiment among these big-money traders is split between 60% bullish and 40% bearish. The whales have been targeting a price range from $610.0 to $1000.0 for Broadcom over the last 3 months. The price of AVGO is up 0.82% at $888.9, with RSI indicators suggesting the stock may be approaching overbought.

Portfolio Pulse from Benzinga Insights

August 07, 2023 | 2:01 pm

SPY

The CB Employment Trends Index for July was reported at 115.45, slightly above the estimated 115.31 and significantly higher than the previous month's 114.31.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 2:01 pm

AMZN

Amazon.com (NASDAQ:AMZN) has outperformed the market over the past 10 years, producing an average annual return of 25.28%. If an investor had bought $100 of AMZN stock 10 years ago, it would be worth $943.41 today.

Portfolio Pulse from Benzinga Insights

August 07, 2023 | 2:00 pm

SHW

Sherwin-Williams Company experienced an explosion and subsequent fire at its Garland, TX Shiloh Plant on Monday, August 7. As a result, production at the site has been suspended.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 1:49 pm