Streetbeat News

Earnings

COSM

Cosmos Health's subsidiary, Cana Laboratories, has completed Phase I of its manufacturing upgrades. The company is now positioned to generate over $10 million in recurring annual gross profit by the end of 2025.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:58 pm

AMC

AMC Entertainment shares are trading lower after the company announced preliminary Q2 results and highlighted the impact of the 2023 actors and writers strikes on the number of movies being released in early 2024.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:56 pm

IWM

NVDA

QQQ

SPY

TSLA

US private sector activity showed stronger-than-expected growth in July, driven by a robust services sector, while manufacturing slipped into contraction. The Composite PMI rose to 55, and the Services PMI hit a 28-month high at 56. However, the Manufacturing PMI fell to 49.7. Inflation pressures eased, but input costs rose. The S&P 500, Nasdaq 100, and small caps declined, with Tesla and Nvidia experiencing significant drops.

Portfolio Pulse from Piero Cingari

July 24, 2024 | 2:55 pm

SAN

Banco Santander shares are trading higher after the company reported better-than-expected Q2 EPS results and a year-over-year increase for its Q2 sales results.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:55 pm

FMX

Fomento Economico Mexicano (FMX) shares are trading lower following the company's Q2 financial results.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:54 pm

Visa, Inc. (NYSE:V) shares are trading lower after the company reported a slight revenue miss for the third quarter. Despite increases in payments volume, cross-border volume, and processed transactions, the stock is down 3.67% and trading below its 50-day moving average. Analysts have cut price targets but maintained an Overweight rating.

Portfolio Pulse from Erica Kollmann

July 24, 2024 | 2:51 pm

LCID

TSLA

Lucid Group Inc (NASDAQ:LCID) shares are trading lower by 4.46% to $3.32, likely in sympathy with Tesla Inc's mixed second-quarter earnings. Tesla's lower-than-expected earnings and forecast for slower growth have created negative sentiment around the EV sector, impacting Lucid's stock. Tesla's focus on cash reserves may also raise concerns about Lucid's liquidity in a competitive market.

Portfolio Pulse from Henry Khederian

July 24, 2024 | 2:49 pm

ENPH

FLEX

GPI

MANH

MAT

PRG

QXO

STX

Several major stocks, including AT&T, Group 1 Automotive, Mattel, and Seagate, saw significant gains on Wednesday despite a general market downturn. AT&T's shares rose following its second-quarter earnings report, while other companies like PROG Holdings, QXO, Flex Ltd., and Manhattan Associates also reported better-than-expected financial results, driving their stock prices higher.

Portfolio Pulse from Avi Kapoor

July 24, 2024 | 2:46 pm

SNOW

Financial giants have shown a bearish trend in options trading for Snowflake (NYSE:SNOW), with 55% of trades being bearish. The major market movers are focusing on a price range between $120.0 and $190.0. Currently, SNOW is trading at $130.19, down by -1.82%. Analysts have mixed ratings with target prices ranging from $165 to $220.

Portfolio Pulse from Benzinga Insights

July 24, 2024 | 2:46 pm

TSLA

Elon Musk stated that a Trump presidency and the potential repeal of the Inflation Reduction Act (IRA) would be devastating for Tesla's competitors but might benefit Tesla in the long term. Musk also mentioned postponing plans for a gigafactory in Mexico due to potential tariffs under a Trump administration.

Portfolio Pulse from Anan Ashraf

July 24, 2024 | 2:45 pm