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SQQQ

TQQQ

ProShares UltraPro Short QQQ ETF (SQQQ) shares are trading higher following recent weakness. The ETF has seen increased volatility after Fitch downgraded the long-term credit rating of the US, which has negatively impacted market sentiment and pressured growth sectors. The downgrade can lead to a broad-based market sell-off, affecting equities including technology stocks represented by TQQQ. The technology sector, which TQQQ seeks to track, relies heavily on global trade and economic stability, and a credit rating downgrade may affect tech companies' revenue and earnings expectations.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 3:51 pm

COHR

Investor Business Daily SwingTrader has reportedly purchased stock in Coherent (COHR).

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:51 pm

ALGN

Align Tech's (NYSE:ALGN) short percent of float has fallen 6.68% since its last report, indicating a more bullish sentiment towards the stock. The company has 2.55 million shares sold short, which is 3.77% of all regular shares available for trading. Compared to its peers, Align Tech has less short interest as a percentage of float, with an average of 6.14%.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 3:49 pm

TDS

TDS shares are trading higher following the company's Q2 financial results and the announcement of exploring strategic alternatives for UScellular.

Portfolio Pulse from Benzinga Newsdesk

August 04, 2023 | 3:43 pm

ADMP

COOK

DRVN

IDAI

TUP

Benzinga's Stock Whisper Index has identified five stocks that warrant attention for the week of Aug. 5, 2023. These include Tupperware Brands Corporation (TUP), which recently announced a debt restructuring agreement; Adamis Pharmaceuticals Corporation (ADMP), which sold assets and announced a collaboration; T-Stamp Inc (IDAI), which announced its biometric technology is being implemented by more financial institutions; Traeger Inc (COOK), which reported Q2 financial results; and Driven Brands Holdings Inc (DRVN), which saw shares drop after Q2 results and lowered full-year guidance.

Portfolio Pulse from Chris Katje

August 04, 2023 | 3:42 pm

TSLA

A significant number of investors have taken a bullish stance on Tesla (NASDAQ:TSLA), with 50% of the investors opening trades with bullish expectations and 49% with bearish. The whales have been targeting a price range from $210.0 to $500.0 for Tesla over the last 3 months. The current price of TSLA is down -0.57% at $257.84. Analysts have mixed opinions on Tesla, with Mizuho maintaining a Buy rating with a price target of $330, while Guggenheim maintains a Sell rating with a price target of $125.

Portfolio Pulse from Benzinga Insights

August 04, 2023 | 3:40 pm

ENB

Enbridge Inc (NYSE:ENB) reported Q2 2023 adjusted EPS of C$0.68, higher than C$0.67 a year ago. Adjusted EBITDA rose 8% Y/Y to C$4.0 billion, led by contributions from a higher stake in the Gray Oak Pipeline and the Cactus II Pipeline. Cash flow from operating activities increased to C$3.4 billion from C$2.5 billion in the prior year. The company also repurchased and cancelled common shares of around 2.5 million. Enbridge reiterated its 2023 outlook, expecting adjusted EBITDA of C$15.9 billion-C$16.5 billion and DCF per share of C$5.25-C$5.65.

Portfolio Pulse from Lekha Gupta

August 04, 2023 | 3:38 pm

MULN

Mullen Automotive, Inc. (NASDAQ:MULN) shares are trading lower after its annual shareholders' meeting. A potential reverse stock split was among the proposals being voted on. The company had previously implemented a reverse stock split in May to regain compliance with the Nasdaq minimum $1 bid price requirement. The stock is trading nearly 10% lower at 12 cents.

Portfolio Pulse from Erica Kollmann

August 04, 2023 | 3:37 pm

RETO

The Board of Directors of ReTo Eco-Solutions has approved a change in the maximum number of shares that the company is authorized to issue from 20 million to an unlimited amount. Each share will have a par value of $0.01.

Portfolio Pulse from Happy Mohamed

August 04, 2023 | 3:33 pm

QS

QuantumScape Corp (NASDAQ:QS) shares dropped by 11.3% after the company announced a $300 million public offering of Class A common stock. The underwriters have a 30-day option to purchase up to an additional 5.6 million shares at the offering price. The offering is set to close on August 8. Evercore ISI and Morgan Stanley were joint lead book-running managers, with Goldman Sachs & Co. LLC and UBS Investment Bank as additional book-running managers.

Portfolio Pulse from Henry Khederian

August 04, 2023 | 3:32 pm