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AEM

FNV

GOLD

SGDM

Spot gold prices declined by about 1.25% on Thursday, following the release of advance estimates data by the U.S. Bureau of Economic Analysis. The data showed a 2.4% annualized growth rate in the U.S. economy for Q2 2023 and a decline in unemployment, indicating a strong labor market. This is bearish for gold and gold miners. However, spot gold managed to hold above the 50-day simple moving average, suggesting a potential rebound. The Sprott Gold Miners ETF (SGDM) offers exposure to several gold miners and may be a good investment when the sector turns bullish.

Portfolio Pulse from Melanie Schaffer

July 27, 2023 | 7:15 pm

SPGI

A significant amount of unusual options activity has been detected for S&P Global (NYSE:SPGI), with a majority of investors taking a bearish stance. The price range targeted by these investors over the last three months is between $320.0 and $490.0. The current price of SPGI is down by 7.85% at $394.8. Wells Fargo, Morgan Stanley, and Raymond James have maintained their positive ratings on S&P Global, with price targets of $450, $427, and $421 respectively.

Portfolio Pulse from Benzinga Insights

July 27, 2023 | 7:01 pm

BFH

Bread Financial Holdings reported a year-over-year increase in Q2 EPS results and announced a $35 million buyback program, leading to a rise in its share prices.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 6:25 pm

BFH

Bread Financial has announced a $35 million share buyback program. This move is expected to boost investor confidence and potentially increase the company's stock price.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 6:25 pm

AMC

AMC Entertainment's proposed plan to convert preferred shares to common units and implement a stock split has been rejected by a court. This has led to volatility in the company's stock, causing it to trade lower.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 6:14 pm

XPEV

XPeng shares are trading higher following the recent announcement of an investment from Volkswagen. This continued strength in the stock is attributed to the investment.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 5:50 pm

ORLY

O'Reilly Automotive reported Q2 results and announced management changes, causing its shares to trade lower.

Portfolio Pulse from Bill Haddad

July 27, 2023 | 5:37 pm

SOUN

Culper Research has released a report criticizing SoundHound AI, Inc. (SOUN), accusing the company of misleading investors about its AI technology and contract backlog. The report claims that SOUN's technology does not work as advertised, and that its $336M contract backlog is overstated. Culper Research is short on SOUN.

Portfolio Pulse from Happy Mohamed

July 27, 2023 | 5:34 pm

SPXL

SPXS

SPY

The SPDR S&P 500 (NYSE:SPY) was edging higher despite the Federal Reserve reinstating its rate hike campaign. Experienced traders may choose to play the SPY through Direxion ETFs, specifically Direxion Daily S&P 500 Bull 3X Shares (NYSE:SPXL) and Direxion Daily S&P 500 Bear 3X Shares (NYSE:SPXS). These ETFs are triple leveraged funds that track the movement of the SPY, seeking a return of 300% or -300% on the return of the benchmark index over a single day.

Portfolio Pulse from Melanie Schaffer

July 27, 2023 | 5:14 pm

CUTR

Cutera has appointed Taylor Harris as CEO, leading to a rise in the company's shares. Piper Sandler has upgraded the stock to Neutral from Underweight and raised the price target to $18 from $14.

Portfolio Pulse from Benzinga Newsdesk

July 27, 2023 | 5:01 pm