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BTM

DWAC

SFBS

U.S. stocks traded higher with the S&P 500 gaining around 0.3% on Friday. AutoNation Inc reported better-than-expected results for its second quarter with sales growth of 0.3% year-on-year to $6.89 billion. Digital World Acquisition Corp. shares shot up 56% after the company announced it reached a settlement with the SEC. Shares of ServisFirst Bancshares, Inc. got a boost, shooting 18% following upbeat second-quarter results. Bitcoin Depot Inc. shares were also up, gaining 13% after the company reported second-quarter preliminary revenues and provided 2023 guidance.

Portfolio Pulse from Lisa Levin

July 21, 2023 | 6:44 pm

KNX

Susquehanna analyst Bascome Majors has reiterated a Neutral rating on Knight-Swift Transportation Holdings Inc. (NYSE:KNX), lowering the price target to $51 from $53. This follows the company's worse-than-expected Q2 2023 earnings results and a cut in 2023 guidance. The company's revenues of $1.55 billion, down 20.8% Y/Y, missed the consensus of $1.60 billion. The analyst warns that KNX will face challenges in the truckload market.

Portfolio Pulse from Nabaparna Bhattacharya

July 21, 2023 | 6:41 pm

COF

Capital One Financial Corp (COF) reported Q2 2023 results, with revenue of $9.01 billion, missing the consensus estimate of $9.12 billion, and earnings of $3.52 per share, beating analyst estimates of $3.22. Following the results, several analysts including Morgan Stanley, Stephens & Co., Wells Fargo, Piper Sandler, and Citigroup adjusted their price targets for COF. COF shares are trading higher by 0.90% at $116.01.

Portfolio Pulse from Lekha Gupta

July 21, 2023 | 5:33 pm

BBIG

IPG

SCHL

SIRI

During Friday's intraday session, several communication services stocks experienced significant movement. Vinco Ventures, Scholastic, 9F, Treasure Global, Spark Networks, and Cuentas saw increases, with Scholastic's rise following a Q4 earnings release. Conversely, Lytus Technologies Hldgs, FingerMotion, Interpublic Group of Cos, Sirius XM Holdings, Fangdd Network Group, and Starbox Group Hldgs experienced decreases, with Interpublic's drop following a Q2 earnings report.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 5:31 pm

ABT

Abbott Laboratories reported better-than-expected Q2 earnings with an organic sales growth of 11.5%. The company reaffirmed its FY23 adjusted EPS of $4.30 - $4.50. Analysts from William Blair and Citi have a positive outlook for the company, expecting strong performance in 2024. ABT shares are up 2.10% at $114.18.

Portfolio Pulse from Vandana Singh

July 21, 2023 | 5:18 pm

LCID

Lucid Group Inc's (LCID) shares fell by 0.94% to $6.86 during Friday's session, despite no company-specific news. The drop is attributed to a general decline in EV stocks following Tesla's Q2 earnings report. Tesla's gross margins were down from 25% YoY, which could lead to a reevaluation of Lucid's stock price based on more conservative projections.

Portfolio Pulse from Henry Khederian

July 21, 2023 | 5:15 pm

KNTK

Mizuho analyst Gabriel Moreen has reiterated a Buy rating on Kinetik Holdings Inc. (NYSE:KNTK), raising the price target to $39 from $37. The analyst expects KNTK to reiterate the 'high end' of its FY23 guidance in its upcoming Q2 2023 results conference call. Moreen also forecasts a linear growth trajectory for KNTK's quarterly earnings through year-end and expects an update on the company's GCX stake sale process before September.

Portfolio Pulse from Nabaparna Bhattacharya

July 21, 2023 | 5:14 pm

RIVN

Rivian Automotive Inc (RIVN) shares fell by 2.47% to $25.17 despite no company-specific news. The drop is attributed to the overall negative sentiment in the EV sector following Tesla's Q2 earnings report, which showed a decrease in gross margins from 25% YoY to 18.2%. Tesla's financial performance often serves as an indicator for the overall health of the EV market.

Portfolio Pulse from Henry Khederian

July 21, 2023 | 5:11 pm

TSLA

Tesla Inc's shares have fallen by 7.83% to $264.12 over the past five sessions. This is due to the company's Q2 financial results, which showed a 47% YoY increase in revenue to $24.93 billion and earnings of 91 cents per share. However, operating margins were 9.6% and gross margins were 18.2%, down from 25% YoY.

Portfolio Pulse from Henry Khederian

July 21, 2023 | 5:06 pm

CSBR

Champions Oncology (NASDAQ:CSBR) is set to release its latest quarterly earnings report on July 24, 2023. Analysts estimate an earnings per share (EPS) of $-0.12. The company's past performance shows a trend of missing EPS estimates and subsequent drops in share price. The stock is currently trading at $6.9, down 18.19% over the last 52-week period.

Portfolio Pulse from Benzinga Insights

July 21, 2023 | 5:02 pm